ID :
185992
Thu, 06/02/2011 - 07:38
Auther :
Shortlink :
https://oananews.org//node/185992
The shortlink copeid
Foreigners turn net sellers of S. Korean stocks in May
SEOUL, June 2 (Yonhap) -- Foreign investors switched to net sellers of South Korean stocks last month amid lingering jitters over the eurozone debt crisis, the financial regulator said Thursday.
Overseas investors sold a net 2.82 trillion won (US$2.6 billion) of local equities in May, a turnaround from 4.42 trillion won in net buying the previous month, the Financial Supervisory Service (FSS) said in a report.
Euro-zone countries' fiscal instability as well as foreigners' attempts to lock in profits led to foreign investors' cutting of local holdings last month, the FSS noted.
Overseas investors staged a 10-straight-session selling spree to unload a net 3.6 trillion won during the May 16-27 period, the heaviest sell-off run for so far this year, the regulator added.
Foreigners held 402.38 trillion won of local stocks as of the end of May, accounting for 30.8 percent of the country's total stock market cap, according to the FSS.
For the first five months of this year, foreigners posted a combined 1.51 trillion won in net selling, it said.
Meanwhile, overseas investors picked up a net 2.65 trillion won of Korea's listed bonds last month amid expectations of the local currency rise, the regulator said. They bought a net 1.13 trillion won of local debts in April.
Foreign ownership of local listed bonds reached 78.78 trillion won as of end-May, or 6.8 percent of the total market cap, it noted.
For the January-May period, overseas buyers purchased a net 4.59 trillion won in local bonds, it added.
Overseas investors sold a net 2.82 trillion won (US$2.6 billion) of local equities in May, a turnaround from 4.42 trillion won in net buying the previous month, the Financial Supervisory Service (FSS) said in a report.
Euro-zone countries' fiscal instability as well as foreigners' attempts to lock in profits led to foreign investors' cutting of local holdings last month, the FSS noted.
Overseas investors staged a 10-straight-session selling spree to unload a net 3.6 trillion won during the May 16-27 period, the heaviest sell-off run for so far this year, the regulator added.
Foreigners held 402.38 trillion won of local stocks as of the end of May, accounting for 30.8 percent of the country's total stock market cap, according to the FSS.
For the first five months of this year, foreigners posted a combined 1.51 trillion won in net selling, it said.
Meanwhile, overseas investors picked up a net 2.65 trillion won of Korea's listed bonds last month amid expectations of the local currency rise, the regulator said. They bought a net 1.13 trillion won of local debts in April.
Foreign ownership of local listed bonds reached 78.78 trillion won as of end-May, or 6.8 percent of the total market cap, it noted.
For the January-May period, overseas buyers purchased a net 4.59 trillion won in local bonds, it added.