Foreigners' net selling of local equities hits 8-month high

Foreign investors' net selling of South Korean shares hit an eight-month high in January due to worsening corporate earnings and Vanguard's benchmark change, the financial regulator said Tuesday.

Overseas investors dumped a net 1.9 trillion won (US$1.75 billion) worth of local equities last month, turning from the 3.87 trillion won net buying a month earlier, according to the Financial Supervisory Service (FSS).