Foreigners remain net sellers of Korean stocks in October
Summary
Foreign investors sold a net $19.31 billion worth of South Korean stocks in October, the Bank of Korea said Thursday, extending their net selling to a second consecutive month. The BOK attributed the sales to lingering concerns over excessive investment in AI infrastructure. Foreign investors bought $5.61 billion worth of local bonds, ending a three-month sell-off.
Key Facts
- October’s net stock sales were higher than the $14.16 billion sold in September.
- Foreign investors had been net sellers of local stocks since January before becoming net buyers in August.
- For the first 10 months of the year, foreign investors sold a net $164.34 billion worth of Korean stocks.
- The won traded at 1,334.3 per dollar at the end of October, compared with 1,352.8 a month earlier.
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.
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