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 securities than they bought for a sixth month in July, according to data released by the Bank of Korea (BOK) on Thursday. The offshore investors sold a total of $21.65 billion worth of local stocks and bonds in July, following a similar pattern in June where they sold $30.72 billion. This trend of net selling began in February.
In July, foreign investors sold $20.7 billion worth of stocks and $960 million worth of bonds. The BOK noted that this decrease from the previous month was due to the stock market correction discouraging foreign investors from rebalancing their portfolios. This happened during a period of heightened tensions in the Middle East and concerns over excessive investment in artificial intelligence (AI) infrastructure.
The Korea Composite Stock Price Index (KOSPI) declined by more than 20% in July, mainly due to significant losses in tech shares. The BOK pointed out that reduced foreign portfolio rebalancing contributed to the Korean won strengthening against the U.S. dollar during this period. This strengthening occurred despite the greenback's recent weakness 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.
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