For­eign­ers dump lo­cal shares in Aug.

The Korea Times - - FINANCE -

Off­shore in­vestors turned to net sell­ers of Korean stocks last month amid the won’s weak­ness against the U.S. dol­lar, data showed Mon­day.

For­eign in­vestors sold a net 2.3 tril­lion won ($1.9 bil­lion) worth of lo­cal stocks in August, a shift from net buy­ing of 2 tril­lion won a month ago, ac­cord­ing to the data by the Fi­nan­cial Su­per­vi­sory Ser­vice (FSS).

In­vestors from Britain, the United States and Euro­pean Union were among net sell­ers of lo­cal stocks last month, the data showed.

At the end of August, for­eign in­vestors held a to­tal of 526.5 tril­lion won worth of lo­cal stocks, ac­count­ing for 33.3 per­cent of the na­tion’s to­tal market cap­i­tal­iza­tion.

Mean­while, for­eign­ers bought a net 4.9 tril­lion won worth of lo­cal bonds last month.

Their hold­ings of lo­cal debt stood at 125.9 tril­lion won at the end of last month, ac­count­ing for 7 per­cent of the to­tal market, ac­cord­ing to the data.

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