Foreign investors have seen their returns in their top 10 holdings in Kosdaq stocks double from the beginning of this year, most benefiting from an exceptional bull run on the secondary market backed by government attention and promotion in venture enterprises.

According to Korean securities exchange operator Korea Exchange (KRX) on Wednesday, the top 10 stocks on the technology and bio-laden Kosdaq favored by overseas investors have delivered an average return of 103.88 percent so far this year, outperforming local institutional investors who have posted 74.87 percent return rate and retail investors with 67.31 percent.

Offshore investors’ top pick was Celltrion Inc., a local biopharmaceutical firm, with their net buying reaching 647.5 billion won ($595 million). It was followed by SillaJen Inc., CJ E&M, Hugel Inc. and Seoul Semiconductor Co.

Shares of Celltrion, the top performer on the Kosdaq by market cap, soared 91.43 percent from 107,400 won on the first trading day in 2017 to 205,600 won on Tuesday. Stocks of biotech firm SillaJen surged 564 percent from 13,250 won to 88,000 won over the same period.

Foreign players diversified their portfolio with various stocks. Their top 10 picks included bio stocks such as Celltrion, SillJen and Medytox Inc., IT stocks like TES Co. and SFA Engineering Corp. and game maker Con2us Corp.

The top pick by Korean institutional investors was Paradise Co., a hotel and casino operator, with their net purchase amounting to 154.9 billion won. Shares of Paradise gained 79.4 percent from 12,150 won in the beginning of the year to 21,800 won on Tuesday.

By Jin Young-tae and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]