South Korea's National Pension Service Buys $2.4B in Stocks During Market Rout, SK Hynix Top Pick

SK Hynix-0.32%
According to Korea Exchange, South Korea's National Pension Service net purchased 301.5 billion won (approximately $2.4 million) in stocks during July 14-21, reversing earlier concerns about massive selling pressure during the fund's asset rebalancing restart. The KOSPI fell 20.4% from July 1-21, dropping from 8,470 to 6,740, which reduced domestic equity allocation below target levels and eliminated the need for large-scale selloffs. The fund instead focused on bargain buying in beaten-down semiconductor stocks, with SK Hynix as the largest purchase at 445.8 billion won despite its 25.1% monthly decline.
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