Corporate direct financing dips over 17% in October

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Corporate direct financing dips over 17% in October

Stocks are shown on a screen at the Korea Exchange's public relations center in Yeouido, western Seoul, on Sept. 15. [YONHAP]

Stocks are shown on a screen at the Korea Exchange's public relations center in Yeouido, western Seoul, on Sept. 15. [YONHAP]

 
Corporate direct financing sank 17.4 percent from a month earlier in October due largely to a sharp decline in stock sales, while bond sales also shrank, data showed Wednesday.
 
Local companies raised a combined 23.71 trillion won ($16.08 billion) last month by selling stocks and bonds, down 4.99 trillion won from a month earlier, according to the data from the Financial Supervisory Service.
 

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Stock sales plunged 78.4 percent on-month to 93.9 billion won last month.
 
Corporate bond sales slipped 16.6 percent, or 4.71 trillion won, to 23.61 trillion won.
 
The value of outstanding corporate bonds had stood at 750.45 trillion won as of end-September, up 8.16 trillion won, or 1.1 percent, from a year ago, the data showed.

Yonhap
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