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[Alpha Biz=(Chicago) Reporter Kim Jisun] Foreign investors have sharply withdrawn from Kakao Group shares, which have been hit by a rate hike and an economic slowdown since last year, the report showed.

According to the Korea Exchange on the 16th, the average foreign holdings of four stocks, Kakao, Kakao Bank, Kakao Pay, and Kakao Games, fell from 26.05% early last year to 22.88% on the 15th.

Kakao Pay, which has the highest proportion of foreigners among Kakao Group shares, saw its foreign holdings fall below 40 percent from 42 to 43 percent last year. Since last year, stock prices have fallen 68.37%, the slowest return among group stocks.

Kakao Pay posted an operating loss of 13 billion won on a consolidated basis in the first quarter of this year, and foreign investors appear to be leaving due to earnings concerns.

Kakao and Kakao Games also fell short of expectations in the first quarter due to the slowing economy, with foreigners turning their backs on them. The proportion of foreigners in Kakao exceeded 30% at the beginning of last year, but recently fell to 26.12%, and Kakao Games fell from 13.53% to 11.66%.

Despite its positive performance, Kakao Bank's share of foreigners fell from 13.53 percent to 11.66 percent.

On the other hand, individual investors appear to be betting on rising stock prices in some stocks. Individuals bought 251.2 billion won and 27.1 billion won worth of Kakao Games this year, respectively. Stock market prospects for the leading stock Kakao are mixed.

 

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