Foreign investors dumped W20.3tr of Korean stocks, led by SK Hynix and Samsung — the same names that did all the work in MSCI EM's 25.3% YTD. Tech contributed 25.6pp of that return, and Taiwan plus Ko

What happened: Foreign investors sold a net 20.3 trillion won of Kospi shares from Sept. 1 through Oct. 2, concentrated in SK hynix and Samsung Electronics. Key numbers: Net sales of 20.305 trillion won ($15.1 billion). Why it matters: Analysts partly attributed the selling to profit-taking after strong gains in large-cap semiconductor stocks, with the US-Iran conflict and rising interest rates also weighing on sentiment. Attention is turning to third-quarter earnings for signs that improving chip profit visibility could draw foreign funds back.

Foreign investors sold a net 20.3 trillion won of Kospi shares from Sept. 1 through Oct. 2, concentrated in SK hynix and Samsung Electronics.

Analysts partly attributed the selling to profit-taking after strong gains in large-cap semiconductor stocks, with the US-Iran conflict and rising interest rates also weighing on sentiment. Attention is turning to third-quarter earnings for signs that improving chip profit visibility could draw foreign funds back.