Foreign investors dump $6.6 bil. in Samsung Electronics, SK hynix stocks last week

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Foreign investors sold more than 10 trillion won ($6.6 billion) worth of shares in Samsung Electronics and SK hynix last week while extending their net-selling streak in the South Korean stock market to 12 trading sessions, data showed Monday. Foreigners offloaded a net 5.33 trillion won worth of SK hynix shares and 5.26 trillion won worth of Samsung Electronics shares during the week beginning May 18, according to the data from the Korea Exchange and Yonhap Infomax. Combined net sales of the two market bellwethers accounted for 73 percent of foreigners’ total net selling of Korean stocks, which came to 14.45 trillion won over the cited period. The selling trend has continued over the past 12 trading sessions since May 7, when foreign investors turned net sellers. During the 12-session period, foreigners sold a net 19.53 trillion won worth of SK hynix shares and 18.87 trillion won worth of Samsung Electronics shares, accounting for 82.9 percent of their total net selling of 46.34 trillion won. Last week, Hyundai Mobis, Hyundai Motor, LG Electronics and Samsung Electro-Mechanics were also
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