Individual investors in Korean pharmaceutical companies staying amidst others sell off
Samsung BiologicsㆍCelltrion recorded net purchases exceeding KRW 100 billion by individual investors in Q1 Daewoong Pharmaceutical KRW 86.4 billionㆍYuhan Corporation KRW 79.7 billion
[Newsmp] Despite significant sell-offs of pharmaceutical stocks by institutional and foreign investors in the first quarter, individual investors showed active buying and increased their positions.
Data from the Korea Exchange reveals that institutional and foreign investors net sold 47 pharmaceutical stocks listed on the KOSPI Pharmaceutical Index during Q1, with a total value of KRW 310 billion and KRW 330.5 billion, respectively.
Meanwhile, individual investors were found to have bought a net sum of around KRW 5.22 trillion.
In the first quarter, while institutional and foreign investors were shedding shares in 25 out of 47 stocks in the pharmaceutical index, individual investors showed an opposite trend by buying more shares than selling in 26 stocks.
In particular, none of the 47 pharmaceutical stocks in the index had a net purchase amount exceeding KRW 5 billion among institutional investors.
Institutional investors net sold KRW 93.3 billion worth of Samsung Biologics shares, KRW 80.1 billion worth of Daewoong Pharmaceutical shares, and KRW 57.7 billion worth of Yuhan Corporation shares, and also sold over KRW 100 billion worth of shares in Hanmi Pharmaceutical, Celltrion, SK Bioscience, and Daewoong during the same period.
Foreign investors made net purchases of Il Dong Pharmaceutical worth KRW 14.8 billion and Hanmi Pharmaceutical worth KRW 11.1 billion, but net sold shares of Celltrion worth KRW 217.8 billion and Samsung Biologics worth KRW 56.2 billion, as well as selling more than KRW 10.0 billion worth of shares of Yuhan Corporation, Daewoong Pharmaceutical, and Green Cross.
In contrast, individuals made active net purchases of KRW 144.3 billion for Samsung Biologics and KRW 137.4 billion for Celltrion, while the net buying amount for Daewoong Pharmaceutical was KRW 86.4 billion and for Yuhan Corporation, it was KRW 79.7 billion.
In addition, individual investors also showed net buying of KRW 10 billion for Daewoong Pharmaceutical, Green Cross, SK Bioscience, and Hanmi Pharmaceutical.
Out of the 47 pharmaceutical index stocks, only Ildong Pharmaceutical saw a net selling amount exceeding KRW 10 billion from individual investors.