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Foreign investors buy S.Korean stocks in 3 months

Xinhua News,SEOUL
2020-11-09 12:46

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SEOUL, Nov. 9 (Xinhua) -- Foreign investors bought South Korean stocks for the first time in three months amid the reduced worry about the COVID-19 here, financial watchdog data showed Monday.

Foreign purchase of domestic stocks amounted to 1.36 trillion won (1.2 billion U.S. dollars) in October, according to the Financial Supervisory Service.

Foreigners turned into net buyers in the local stock market last month, after selling shares in August and September.

The COVID-19 resurged here in August and September, leading the government to raise its social-distancing rules during the two-month period.

The social-distancing regulations were lowered early last month as concerns eased over the pandemic.

In the latest tally, the country reported 126 more cases of the COVID-19 for the past 24 hours, raising the combined number of infections to 27,553. The daily caseload stayed above 100 for two straight days.

European investors were net buyers in October, but investors from the United States, Asia and the Middle East cut their holdings of local stocks.

Foreign holdings of domestic shares reached 584.8 trillion won (524.5 billion U.S. dollars) as of the end of October, accounting for 30.4 percent of the total market capitalization.

In the local bond market, offshore investors made a net investment worth 208 billion won (186.6 million U.S. dollars) last month.

Foreign net purchase of domestic bonds amounted to 4.09 trillion won (3.7 billion U.S. dollars) in the month, while maturing debts reached 3.88 trillion won (3.5 billion U.S. dollars).

Foreign ownership of local bonds came in at 150.7 trillion won (135.2 billion U.S. dollars) as of end-October, taking up 7.4 percent of the total listed bonds.
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