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Biz News Korea(Eng)
Foreigners’ net buying of index futures hits record high
- Collected
- 2016.08.28
- Distributed
- 2016.08.29
- Source
- Go Direct
According to Korea’s securities exchange operator Korea Exchange (KRX) on Friday, foreigners continued to buy Kospi index futures to conclude a record high of 28,560 contracts in cumulative net buying of the index futures for 30 trading days from July 13. This is the largest ever, exceeding 25,823 contracts in March 9.
As foreigners started buying spree in the spot market after the Britain’s decision to leave the European Union, more buying spree has begun in the futures market. Buying spree of index futures means outlook for the Kospi market is rosy.
In particular, foreigners have sold shares of Samsung Electronics Co., which has raised concerns, but they have still bought futures in the futures market. Foreign investors net bought more than 260 contracts of futures of Samsung Electronics.
“Surging net buying of index futures by foreigners means that foreigners have painted a rosy outlook on Kospi,” said Gong Won-bae, an analyst of Hyundai Securities Co.
By Han Ye-kyung
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]