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Foreigners turn into net buyers of S. Korean stocks in March

All Headlines 08:16 April 11, 2016

SEOUL, April 11 (Yonhap) -- Foreign investors bought a net 4.4 trillion won (US$3.8 billion) worth of South Korean stocks last month snapping their selling spree of four consecutive months, the country's financial watchdog said Monday.

The March figure marked the biggest monthly purchase since April last year, when the comparable figure was 4.7 trillion won, the Financial Supervisory Service (FSS) said in a statement.

"Investors, particularly from the U.S. and Britain, have increased the portion of riskier assets (including Korean stocks) in their portfolios as the U.S. Federal Reserve is unlikely to raise rates sharply this year," an FSS official said.

They bought 570 billion won worth of local bonds in March after offloading a net 4.23 trillion won in the previous month, the statement said. There is a separate bond-trading market in the Korea Exchange (KRX).

Their cumulative holdings of Korean stocks came to 433.1 trillion won last month, accounting for 28.8 percent of the total market capitalization. Their accumulated bond holdings were 97.4 trillion won, or 6.1 percent of total bonds traded in the KRX's bond market, it said.

kyongae.choi@yna.co.kr
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