[Edaily Reporter kyoungeun kim ] Hana Securities stated on the 18th that, with the simultaneous expansion of the U.S. manufacturing sector and a decline in inflation, it is reasonable to expect an inflow of foreign capital into the domestic stock market. The firm analyzed that, amid a weak dollar, increasing exposure to sectors where foreign ownership has fallen from its peak—such as automotive, transportation, telecommunications services, pharmaceuticals and biotechnology, power equipment, rechargeable batteries, and IT hardware—is an effective strategy.
Lee Jae-man, an analyst at Hana Securities, stated in a report released that day, “In the U.S., inflation has fallen following confirmation of manufacturing sector expansion. Concerns over the Fed raising its benchmark interest rate have eased, and with the economy expanding, the U.S. long-short yield spread (10-year minus 2-year) continues to rebound.”
He continued, “When the yield on U.S. 2-year Treasury notes falls and the long-short yield spread widens, the month-over-month decline in the U.S. Dollar Index (average -1%) is relatively the largest, and the probability of a decline is also the highest at 80%. We can expect an inflow of foreign capital into the domestic stock market driven by the weak dollar.”

First, regarding SamsungElectronics, analysts suggest it is highly likely to lead the market rebound, given its excessively high stock discount rate and the sharp decline in the proportion of shares held by foreign investors. Meanwhile, expectations have recently been growing that SamsungElectronics could transition from a high-growth stock to a high-dividend stock.
The analyst predicted, “Referring to Apple’s past transformation, SamsungElectronics’ stock may continue to post returns on par with the KOSPI—rather than emerging as a new market leader—until it undergoes a clear image shift toward becoming a high-dividend stock (currently projecting a 50% ratio of shareholder returns to free cash flow for 2024–2026).”
Furthermore, the analyst emphasized the need to focus on profit growth rates. Over the past three years, the 12-month projected net profit growth rate (YoY) for sectors with the highest net foreign buying during the September–November quarter has risen and improved, while that for sectors with the highest net foreign selling has declined. The analyst explained that it is important to keep in mind that foreign investors will structure their portfolios in the second half of the year to reflect next year’s profit growth rates.
By sector, he highlighted automotive, transportation, and secondary batteries. The analyst stated, “The 12-month projected net profit growth rate (year-over-year) for November, estimated using the monthly average growth rate, is expected to rise. Increasing exposure to sectors where foreign ownership has fallen from its peak—such as automotive, transportation, telecommunications services, pharmaceuticals and biotech, power equipment, secondary batteries, and IT hardware—is a strategic move to prepare for potential future inflows of foreign capital.” Specific stocks include SamsungElectroMechanics(009150), HyundaiMotor(005380), SAMSUNG BIOLOGICS(207940), HANWHA AEROSPACE(012450), SAMSUNG C&T CORPORATION(028260), HD HYUNDAI ELECTRIC(267260), HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING(009540), HANMISemiconductorCO.,Ltd.(042700), Kakao(035720), HyundaiEngineering&Construction(000720), and others fall into this category.