Foreign investors have gone on a buying spree of Korean shares for the past two months on growing hopes for a gradual end to the ongoing cycle of monetary tightening. According to data from the Korea Exchange, foreign nationals purchased Korean shares worth 6.07 trillion won between Oct. 1 and Nov. 29. They focused on buying major large-cap tech stocks such as Samsung Electronics, LG Energy Solution and SK hynix.
South Korean stocks ended almost flat Friday, weighed down by lingering concerns over the United States aggressive monetary tightening and a global economic slowdown. The Korean won fell against the U.S. dollar.
The benchmark KOSPI will pick up fresh momentum for a technical rally amid growing calls for the U.S. Federal Reserve to control the pace of its rate hikes as the year-end approaches, analysts said. The main bourse closed at 2,268.4 points on Friday, up 2.5 percent or 55.28 points from a year earlier. The secondary Kosdaq also ended with a gain of 1.95 percent at 687.63 during the same period.