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Foreigners sell South Korean stocks for 4th month in April

SEOUL
2022-05-16 13:17

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SEOUL, May 16 (Xinhua) -- Foreign investors sold South Korean stocks for the fourth month in April on worries about an interest rate hike in the United States, financial watchdog data showed on Monday.

Foreigners offloaded a net 5.29 trillion won (4.1 billion U.S. dollars) worth of local stocks last month, according to the Financial Supervisory Service (FSS).

The foreign net sale of domestic shares stood at 1.68 trillion won (1.3 billion dollars) in January, 2.5 trillion won (1.9 billion dollars) in February and 4.87 trillion won (3.8 billion dollars) in March.

It came amid rising expectations for interest rate hikes by the U.S. Federal Reserve that encouraged foreign capital to flow out of the domestic stock market.

Foreign holdings of local stocks amounted to 696.2 trillion won (542 billion dollars) at the end of April, taking up 26.7 percent of the total market capitalization.

In the local bond market, offshore investors purchased a net 4 trillion won (3.1 billion dollars) worth of bonds in April. Bonds that matured last month came to 3.97 trillion won (3.1 billion dollars).

Foreign ownership of local bonds reached a new high of 223.2 trillion won (173.8 billion dollars) at the end of April.
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