Foreigners remain net sellers of Korean stocks in October
Financial data is shown on a screen inside the dealing room of Hana Bank in central Seoul, Thursday. Yonhap
Foreign investors remained net sellers in the South Korean stock market for the second consecutive month in October on concerns over artificial intelligence-related investment, central bank data showed Thursday.
Offshore investors offloaded a net $19.31 billion worth of local stocks last month, expanding from a net selling of $14.16 billion in September, according to the data from the Bank of Korea (BOK).
Foreign investors had been net sellers of local stocks since January this year but turned to net buyers in August.
The BOK said foreign investors sold local stocks amid lingering concerns over excessive investment in AI infrastructure.
For the first 10 months of the year, foreigners sold a net $164.34 billion worth of Korean stocks.
They purchased $5.61 billion worth of local bonds last month, ending a three-month sell-off.
The won was trading at 1,334.3 won per dollar at the end of October, compared with 1,352.8 won a month earlier.