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Foreigners extend stock selling streak to 19th straight session

(Yonhap)
(Yonhap)

Foreign investors on Tuesday continued to sell local stocks for the 19th consecutive session amid the coronavirus scare, data showed, with offshore investors offloading a net 72.8 billion won ($59.7 million) worth of local stocks.

Since March 5, foreigners have net sold a total of 11.6 trillion won in stocks. They sold a net 1.31 trillion won on March 9, marking the biggest sell-off on record.

Despite foreigners' continued selling binge, South Korea's benchmark Korea Composite Stock Price Index (KOSPI) rose 2.19 percent to close at 1,754.64 points on Tuesday, led by strong buying by individual investors.

Foreigners scaled back their selling spree, however, as optimism over news of a possible cure for COVID-19 and massive stimulus packages around the globe. (Yonhap)

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