Foreign ownership of S. Korean stocks rises

By Park Bo-ram
SEOUL, July 20 (Yonhap) -- Foreign ownership of South Korean shares gained ground
in the first seven months of this year as overseas investors increased their
exposure to emerging markets, the bourse operator said Monday.
Foreign investors held 747.3 trillion won (US$595.3 billion) worth of local
stocks, or 30.2 percent of the total market value of the main bourse as of July
17, up from 28.7 percent at the end of 2008, the Korea Exchange said in a
statement.
Foreign stock ownership had been on the decline since 2004 when the figure hit a
record high of 44.1 percent in April that year.
The turnaround came as overseas investors replenished their portfolios with
emerging market shares after hefty sell-offs owing to a credit squeeze late last
year, the exchange said.
The local key index KOSPI has gained 28 percent so far this year after it tumbled
40 percent last year in the wake of the global financial rout.
pbr@yna.co.kr
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