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Foreign investors have snapped up Samsung and SK Hynix aggressively for four consecutive days, totaling over 4.5 trillion won, and analysts believe the pullback has been fully priced in.

52 minutes ago

,外国投资者自 7 月 20 日起连续 4 个交易日净买入韩国股票,累计净买入 5.574 万亿韩元,约 37.9 亿美元,推动 KOSPI 指数今日重回 7000 点关口。其中 SK 海力士获净买入 2.756 万亿韩元、三星电子获 1.729 万亿韩元,两股合计达 4.485 万亿韩元,占外资总买入规模的绝对主力。这是外资自 4 月以来首次出现连续 4 日净买入韩股,单日峰值出现在 22 日,净买入额达 2.62 万亿韩元。外资集中重仓韩国存储芯片龙头的核心逻辑有三层:一是谷歌母公司 Alphabet 将 2026 年资本开支指引从 1800 亿至 1900 亿美元上调至 1950 亿至 2050 亿美元,并表示 2027 年将继续显著增加投资,其剩余履约义务飙升至 5140 亿美元,季度环比增长近 10%,验证了超大规模云商的 AI 投入仍在加速;二是经历此前大幅回撤后,三星电子与 SK 海力士的 12 个月远期市净率已分别降至 1.8 倍与 2.7 倍,按今年业绩计算的预期股息率分别达 7.9% 与 11.1%,估值吸引力显著修复;三是 DRAM 合约价预计至 2027 年底仍有约 40% 上涨空间,HBM 因产能消耗远超普通 DRAM 而供应持续偏紧。不过外资在半导体板块内部呈现明显分化——同期净卖出韩美半导体 1399 亿韩元、大德电子 434 亿韩元,SK 海力士与三星电子的业绩可见性相对更高。未来资产证券分析师指出,股价下跌原因已清晰且回调已充分消化,当前是低位加仓区间。

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