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S. Korea's stock funds struggle with continued outflows

All Headlines 10:02 September 02, 2016

SEOUL, Sept. 2 (Yonhap) -- South Korea's stock funds have continued to see a net outflow for more than three weeks, losing close to 2 trillion won (US$1.78 billion), data showed Friday.

According to the Korea Financial Investment Association, domestic stock funds, excluding exchange traded funds (ETFs), recorded a net outflow of 90.7 billion won on Aug. 31 alone.

It pushed up the amount of money leaving local equity stocks to 1.93 trillion won for 23 consecutive trading days from July 29 till Aug. 31.

It marks the longest net outflow for the domestic stock funds since 2013.

Traders are apparently seeking to lock in their gains by selling off stock funds as uncertainties linger over when the United States will raise its benchmark interest rate, association officials said.

lcd@yna.co.kr
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