Top investors rotate into KEPCO, TFE, and Celltrion

Korea Electric Power Corp. (KEPCO) emerged as the primary net buy target for the top 1% of stock investors by 2:30 p.m. on the 10th, according to Mirae Asset Securities. This shift marked a consolidation of earlier morning interest, with the utility rising from third to first place in net buying rankings. The strategy reflects a selective focus on core power generation and transmission assets, specifically favoring KEPCO and Daehan Electric Wire while avoiding broader equipment suppliers.

Simultaneously, SK Hynix remained the largest net sell position for this high-performing investor cohort. The memory chipmaker was followed by Samsung Electronics and Samsung Electro-Mechanics, indicating a continued reduction in exposure to large-cap semiconductor stocks. This rotation suggests that top performers are locking in gains or de-risking from the sector despite recent price strength in the broader market.

Utilities dominate net buying flow

KEPCO’s prominence in the buy list follows a previous day when the stock surged approximately 8% on strong foreign and institutional inflows. The rally was driven by expectations for increased investment in power infrastructure. By the afternoon session, the stock traded at 29,950 won, representing a 3.7% decline from its peak, while the specific net buyer group held positions at 33,000 won, down 2.22%.

Within the utility sector, investors displayed discernment by excluding Sanil Electric and Doosan Efficiency from their primary buy list. The focus remained strictly on KEPCO’s main entity and wire components, signaling a preference for core infrastructure over peripheral equipment and nuclear power plant components. This selective approach underscores a targeted strategy within the energy theme.

TFE leads among semiconductor suppliers

TFE was the second-largest net buy stock among the top investors, with its share price jumping 10.3% during the session. As a post-processing company specializing in parts and equipment for semiconductor testing, TFE attracted net purchases from both foreign and institutional investors. Its performance stood out as the highest price gain among the top 10 net buying stocks, contrasting with the net selling seen in larger chip manufacturers.

Expansion into export-oriented non-tech

Beyond utilities and select semiconductor suppliers, the top investor group expanded its buying scope to include Celltrion, Hyundai Mobis, and APR. This move indicates a diversification into non-semiconductor export stocks, covering sectors such as automobiles, food and beverage, and cosmetics. The inclusion of these firms suggests a broader allocation toward companies with strong international revenue streams.

Market conditions on the 10th were volatile, with KOSPI dipping to the 6,800-point level before recovering to the 7,000-point range. The intraday fluctuations were influenced by the simultaneous expiration of futures and options, alongside rising U.S. long-term bond rates and high oil prices due to Middle East instability. Despite this macro uncertainty, top performers maintained their tactical rotation toward specific domestic and export-focused equities.