South Korea’s pension funds turned to net purchases on KOSPI for the first time this year, heavily weighting SK Hynix.

PANews July 26, according to Jin10, data from South Korean exchanges show that pension funds, including the National Pension Service (NPS), one of South Korea’s largest institutional investors in the stock market, turned to net buying in the South Korean stock market for the first time this month. Exchange data show that as of July 24, the National Pension Service and other pension funds had accumulated net purchases of South Korean KOSPI index constituent stocks totaling 68.4 billion won (about $46.8 million) since July this year. This marks the first time the pension funds have achieved a monthly net buy this year after six consecutive months of net selling. Looking at specific stocks, SK hynix was the most bought stock by pension funds since July, with a net purchase amount of 425.8 billion won.