Foreigners turn to net buyers of S. Korean assets in Aug.: BOK
SEOUL, Sept. 17 (Yonhap) -- Foreign investors became net buyers of South Korean ...
Seoul, Sept. 17 - In August, foreign investors became net buyers of South Korean stocks, ending a seven-month streak of selling, according to data from the Bank of Korea (BOK). Despite geopolitical tensions and rising bond yields, offshore investors purchased a net $0.4 billion worth of local stocks in the month, following a net $20.7 billion worth of sales in July, the BOK reported.
Foreign investors had been net sellers of local stocks since January of this year. The BOK attributed the change in sentiment to improved earnings from major U.S. tech firms, rising Middle East tensions, and concerns over excessive investment in artificial intelligence (AI) infrastructure. Meanwhile, foreign investors offloaded $4.53 billion worth of local bonds in August, following a $0.96 billion sell-off in July.
The Korean won was trading at 1,368.6 won per dollar at the end of August, down from 1,424.0 won a month earlier.
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