Foreigners continue net buying of South Korean stocks
Foreign investors remained net buyers of South Korean stocks in the first seven months of this year on the back of a modest rise in the country’s benchmark index, data showed Monday.
Foreigners purchased a net $5.8 billion in the benchmark KOSPI and secondary KOSDAQ markets in the January-July period, maintaining their net-buy position for a fourth year, according to the data compiled by the Korea Exchange, the country’s bourse operator.
They have snapped up a net $32.6 billion since 2012, shifting to net buyers from a net selling of $8.4 billion in 2011.
The KOSPI finished at 2,030 points on the last day of July, gaining some 6 percent from the start of the year.
Foreign investors were net buyers in India and Taiwan, while they dumped local shares in Thailand and Indonesia.
Foreigners bought a net 8.57 trillion won ($7.36 billion) worth of big-cap shares on the benchmark KOSPI bourse over the seven-month period, up 18.73 percent from 6.79 trillion won a year ago.
However, they offloaded mid- and small-cap shares worth a net 1.36 trillion won and a net 81.2 billion won, respectively, over the January-July period.
Chemicals, logistics and utility shares were chosen by foreign buyers, while they turned away from food and beverage companies, retailers and builders.
In the secondary tech-savvy KOSDAQ market, foreign investors sold a net 443.9 billion won during the cited period, turning to net sellers from a net buying of 712.5 billion won the previous year. (Yonhap)