Foreigners remain net sellers of Korean assets for 6th month in July: BOK
Foreign investors remained net sellers of Korean securities for the sixth consecutive month in July, central bank data showed Thursday, amid a broader market readjustment. Offshore investors sold a net $21.65 billion worth of local stocks and bonds last month, following net sales of 30.72 billion in June, according to data from the Bank of Korea (BOK). They have remained net sellers since…
Foreign investors continued to sell more Korean assets than they bought for the sixth straight month in July, according to data released by the Bank of Korea. The net sale amounted to $21.65 billion, following a similar trend in June when they recorded a net loss of $30.72 billion. This pattern of net selling has persisted since February.
In July, foreign investors sold a net $20.7 billion worth of stocks and a net $960 million worth of bonds. The central bank noted that this sell-off decreased compared to the previous month, likely due to the stock market correction that discouraged foreigners from rebalancing their portfolios. The market turmoil was exacerbated by recent Middle East tensions and ongoing concerns about excessive investment in AI infrastructure.
The Korea Composite Stock Price Index (KOSPI) experienced a significant decline of over 20 percent in July, primarily driven by heavy losses in tech shares. The Bank of Korea attributed the stronger Korean won during this period to reduced foreign portfolio rebalancing, as the U.S. dollar had been relatively weak globally.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
