Foreigners remain net sellers of Korean stocks in October
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…
Foreign investors continued to offload South Korean stocks for a second month in a row in October, driven by apprehensions surrounding artificial intelligence-related investments, according to central bank data released on Thursday. Offshore investors sold a net $19.31 billion worth of local stocks in October, up from $14.16 billion in September, as reported by the Bank of Korea (BOK).
This trend marks a shift from the previous year when foreign investors started as net sellers of local stocks in January but switched to net buyers in August. The BOK highlighted ongoing concerns over excessive AI infrastructure investments as the primary reason for the recent sell-off. Over the first 10 months of the year, foreigners had sold a net $164.34 billion worth of Korean stocks.
In October, they purchased $5.61 billion worth of local bonds, marking the end of a three-month selling spree. At the end of October, the won was trading at 1,334.3 won per dollar, down from 1,352.8 won a month prior.
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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- Foreigners remain net sellers of Korean stocks in Oct. en.yna.co.kr
- Foreigners remain net sellers of Korean stocks in October koreatimes.co.kr
