AmorePacific shares most favored by foreign investors

[THE INVESTOR] Foreign investors bought more shares of cosmetics-maker AmorePacific than any other South Korean stock, data showed Aug. 16.

According to Korea Exchange, foreign investors have bought 951.6 billion won (US$867.2 million) in AmorePacific shares so far this year, making it the most purchased KOSPI-listed stock for foreign investors. With foreign investors buying more AmorePacific shares this year, foreign investors’ holdings in the company stood at 35 percent as of Aug. 12. Foreign investors’ stakes in the company had stood at 30.92 percent at the end of 2015. 

Foreign investors are thought to have been driven by AmorePacific’s growth across Asian markets. According to Mirae Asset Daewoo, the South Korean cosmetics-maker has seen large growth in Asia while larger multinational cosmetics companies have seen sales drop in recent years.

On the tech-heavy KOSDAQ market, foreign investors bought more shares of pharmaceuticals firm Hugel than any other company. So far this year, foreign investors have bought 202.2 billion won worth of Hugel shares.

Overall, the value of KOSPI- and KOSDAQ-listed stocks held by foreign investors has risen 43.2 trillion won from the end of last year, coming in at about 464.1 trillion won on Aug. 10.

By Choi He-suk (cheesuk@heraldcorp.com)