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Foreign investors extend stock sell-off in Korea to fourth month

Published: 10 Dec. 2024, 09:48 Updated: 10 Dec. 2024, 14:28

A screen in Hana Bank's trading room in central Seoul shows Kospi closing on Monday. [YONHAP]

Foreign investors net sold Korean stocks for the fourth consecutive month in November, data showed Tuesday.

Offshore investors sold a net 4.15 trillion won ($2.89 billion) worth of local stocks last month, extending their net selling to a fourth month, according to the data from the Financial Supervisory Service.

In October, foreign investors sold a net 4.38 trillion won of local stocks.

After the sell-off, foreigners owned 693.63 trillion won worth of local stocks, or 27.4 percent of total market capitalization, compared to 27.7 percent at the end of October.

By country, investors from the United States were the top net seller of local stocks, net off-loading 1.39 trillion won worth of shares, followed by those from Luxembourg with 668 billion won and Singapore with 549 billion won.

Meanwhile, foreign investors purchased a net 1.48 trillion won worth of local bonds last month following the net buying of 5.52 trillion won the previous month.

Their holdings of local bonds had come to 270.01 trillion won as of end-November, accounting for 10.4 percent of all listed bonds here at end-November, the data showed.

Yonhap