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Foreigners remain net sellers on S. Korean stock market in June

All Headlines 12:00 July 11, 2018

SEOUL, July 11 (Yonhap) -- Foreign investors stayed net sellers on the South Korean stock market for the third straight month in June amid mounting uncertainties over global trade, the central bank said Wednesday.

Foreigners offloaded US$640 million worth of local shares last month, up from a net $350 million selling tallied in May, according to the Bank of Korea (BOK).

They have steadily remained net sellers since April when they dumped $2.04 billion on the South Korean stock market.

"The intensifying global trade row dampened investor sentiment here," said a BOK official.

On the bond market, however, offshore investors bought $1.91 billion worth of assets in South Korea, slightly down from $3.05 billion in the previous month. They have stayed net buyers since January.

In total, foreigners purchased a net $1.26 billion worth in the local equity market last month.

Meanwhile, volatility in South Korea's currency markets widened slightly in June from a month earlier as the local currency lost ground against U.S. dollar.

Session-over-session changes in the dollar-won exchange rate averaged 0.47 percent last month, rising from 0.34 percent tallied a month earlier, the BOK said.

On average, the Korean won posted 5.2 won in daily value changes against the U.S. greenback last month, up from 3.6 won in May.

The won finished at 1,112.2 won against the greenback on Monday, compared with 1,077.7 won at the end of May, the BOK said.

The credit default swaps premium for foreign exchange stabilization bonds came to 45 basis points in June, up from May's 43 basis points, the bank added.

Foreigners remain net sellers on S. Korean stock market in June - 1

brk@yna.co.kr
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