Foreign investors return to stocks

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Foreign investors return to stocks

Foreign investors snapped a four-month selling streak to net purchase Korean stocks in December but continued to reduce their investment in local bonds for a third month, central bank data showed Friday.

Foreigners net bought $660 million worth of local stocks in the month, marking a turnaround from a net selling of $2.44 billion the month before.

Foreign investors had net sold local stocks for four consecutive months since August, dumping a total of $5.16 billion over the cited period.

They continued to sell local bonds, however, offloading a net $930 million in December, following a net selling of $1.52 billion the previous month and $550 million the month before that.

“[Foreign] investment in bonds net dropped due to a large amount coming to maturity [$5.53 billion] in December, but the rate of fall slowed from the previous month,” the central bank said.

Overall foreign investment in local securities net dropped by $270 million in the month, compared with a $3.96-billion plunge in November.

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