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Foreign investors remain net sellers of S. Korean stocks in October

By Yonhap

Published : Nov. 7, 2023 - 09:35

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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday (Yonhap)

Foreign investors sold a net 3.1 trillion won ($2.39 billion) worth of South Korean stocks last month, extending their selling spree to a third consecutive month, data showed Tuesday.

Foreigners owned 624.8 trillion won worth of local stocks, accounting for 27.2 percent of total market capitalization after the sell-off, according to the data from the Financial Supervisory Service.

By country, Norway was the top net buyer of local stocks last month, net purchasing 600 billion won worth of shares, followed by Singapore with 400 billion won.

The United States net sold 600 billion won worth of shares but continued to be the biggest holder of South Korean stocks, holding 259.3 trillion won worth of local shares that accounted for 41.5 percent of all local shares held by foreigners as of end-October.

Foreigners also net sold 696 billion won worth of local bonds.

Their cumulative holdings of local bonds had come to 241.6 trillion won as of end-October, accounting for 9.7 percent of all listed bonds here, according to the data. (Yonhap)