Foreign ownership of stocks drops slightly

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Foreign ownership of stocks drops slightly

Foreign ownership of Korea’s listed stocks dropped marginally this year amid concerns over a global economic downturn, the bourse operator said yesterday.

Foreign investors held a combined 353.2 trillion won ($321 billion) worth of stocks listed on the country’s main stock market as of Oct. 26, or 32.93 percent of the total market capitalization, according to the Korea Exchange.

The figure was down 0.02 percentage points from December last year. Foreign share ownership hit an all-time high of 44.12 percent on April 26, 2004. This year, foreigners sold a net 5.7 trillion won worth of local stocks as they became risk averse due to the increased volatility of the Korean stock market and uncertainties in the euro zone and the U.S. economies, the KRX said.

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