KOSPI Adjustment Eases Concerns Over National Pension Fund Rebalancing
The recent decline in the KOSPI has led to a reduction in the National Pension Fund's domestic stock ratio, alleviating initial fears of a potential sell-off worth up to 70 trillion won. The pension fund's holdings have now fallen within the target range.
From July 1 to July 10, the pension fund recorded a net selling of 202.1 billion won in the securities market, with the average daily selling volume dropping to a quarter of last month's levels.
While the pension fund sold shares in SK Square and Samsung Electro-Mechanics, it also purchased stocks in SK Hynix and Shinhan Financial Group, indicating a selective approach to its portfolio.
Analysts suggest that the recent increase in market volatility is largely due to foreign investors realizing profits in semiconductor stocks, rather than actions taken by the National Pension Fund.
* This article has been translated by AI.
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