Foreigners dump local shares in Aug.
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.