Foreign investors sell S.Korean stocks for 4 months

This post was originally published on this site

SEOUL, Sept. 13 (Xinhua) — Foreign investors sold South Korean stocks for four straight months in August on worry about the COVID-19 resurgence here, financial watchdog data showed Monday.

Foreigners offloaded a net 7.82 trillion won (6.7 billion U.S. dollars) worth of domestic stocks in August, according to the Financial Supervisory Service (FSS).

The foreign selling continued for the fourth consecutive month as the COVID-19 resurged here since early July.

In the latest tally, the country’s daily number of COVID-19 cases was 1,433, staying above 1,000 for 69 days running.

The foreign holdings of local stocks accounted for 28.9 percent of the total market capitalization last month.

In the domestic bond market, overseas investors purchased a net 7.33 trillion won (6.2 billion U.S. dollars) worth of listed bonds in August.

Given the maturing debt worth 5.64 trillion won (4.8 billion U.S. dollars), the net investment in local bonds amounted to 1.69 trillion won (1.4 billion U.S. dollars) last month.

The foreign ownership of domestic bonds reached 197.1 trillion won (167.9 billion U.S. dollars) at the end of August, taking up 8.9 percent of the total listed bonds.