South Korean pension funds turn net buyers with 68.4 billion won KOSPI purchase
The July reversal ended six months of net selling as the National Pension Service and other pension funds became net buyers of KOSPI stocks, with SK Hynix the biggest purchase.
Fact Check
The Yonhap News Agency primary source confirms every element of the claim: pension funds including the National Pension Service net bought 68.4 billion won on KOSPI in July (through July 24), the first net buying after six months of net selling, with SK hynix as the largest net purchase at 425.8 billion won ahead of its Q2 earnings. The bloomingbit source independently confirms NPS focus on SK Hynix ahead of its July 29 earnings.
Summary
South Korean pension funds, including the National Pension Service, switched to net buying in the local stock market in July, reversing six straight months of net selling. Korea Exchange data cited by Cailian Press showed the funds had bought a net 68.4 billion won of KOSPI constituent stocks as of July 24, with SK Hynix attracting the largest inflow at 425.8 billion won. The move marked the first month of net buying this month after a prolonged period of selling and pointed to renewed institutional demand for large-cap equities, particularly semiconductor shares.
Terms & Concepts
- KOSPI: South Korea’s main stock market index.
- National Pension Service: South Korea’s public pension fund manager.