Foreigners sell S. Korean stocks for 4 months
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E-mail Xinhua, October 13, 2015
Foreign investors remained net sellers in the South Korean stock market for the fourth consecutive month in September on worries about an interest rate hike in the United States and economic slowdown in China, financial watchdog data showed Tuesday.
Foreigners sold a net 1.82 trillion won (1.59 billion U.S. dollars) worth of local listed stocks in September, keeping a selling trend since June, according to the Financial Supervisory Service which exams and supervise the country's financial institutions.
The consecutive stock sales by foreigners came on the back of concerns about the expected U.S. rate hike within this year and economic slump in China, South Korea's largest trade partner.
However, the September selling was down from sales of 2.26 trillion won in July and 3.94 trillion won in August as global credit rating company Standard & Poor's revised up South Korea's sovereign rating from A-plus to AA-minus on Sept. 15.
U.S. and Singaporean investors purchased domestic stocks worth 393 billion won and 263 billion won each, while Saudi investors dumped a net 946 billion won worth of stocks.
Foreign ownership of local listed stocks reached 414.16 trillion won as of end-September, making up 28.6 percent of the total market capitalization.
Foreign net investment into local listed bonds, which gauges net foreign purchase minus maturing debts, posted a net outflow of 937 billion won in September. It marked the fourth straight month of net outflow.
Maturing debts rose 0.1 trillion won from August to 2.81 trillion won in September, but net foreign buying stood merely at 1.87 trillion won.
French and Swiss investors sold local bonds worth 638 billion won and 183 billion won respectively last month, but Chinese investors purchased a net 144 billion won worth of South Korean bonds.
Foreign holdings of domestic bonds amounted to 101.8 trillion won as of end-September, down 0.9 trillion won from the previous month. Endi
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