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Stock funds suffer outflows for 8th consecutive session

South Korea's stock funds suffered outflows for an eighth straight trading session on profit-taking as the benchmark stock index stayed in a tight range, data showed Thursday.

After touching its highest-ever close earlier last week, the Korea Composite Stock Price Index has lost some ground in recent trading sessions. 

According to the data by the Korea Financial Investment Association, domestic stock funds, excluding exchange traded funds, posted 993 billion won ($882 million) of net outflow on Tuesday.

The Tuesday net outflow was slightly higher than the previous session.

In a sign that investors are shifting their money to short-term investment vehicles amid lingering uncertainties, money market funds posted net inflows of 2.2 trillion won on Tuesday, the data showed. (Yonhap)
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Korea Herald daum