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Foreigners' purchase of KOSDAQ shares hits nearly 15-year high

All Headlines 10:42 March 25, 2019

SEOUL, March 25 (Yonhap) -- Overseas investors bought the largest amount of South Korean shares on the KOSDAQ market in nearly 15 years last month, data showed Monday.

Foreigners bought a net 672 billion won (US$591.7 million) worth of local shares listed on the tech-laden KOSDAQ bourse in February, a sharp turnaround from their net selling of 130 billion won in the previous month, according to the data by the Financial Supervisory Service (FSS).

The tally last month is the largest since April 2004, when they bought 822.6 billion won worth of shares on the tech-centric bourse, it noted.

By country, investors from Britain were the top buyers by scooping up shares worth 274 billion won last month, followed by the United States with 190 billion won, Switzerland with 43 billion won and Germany with 33 billion won.

"Amid external concerns over global trade frictions and BREXIT issues, foreigners appeared to have turned their eyes from the KOSPI to the KOSDAQ, focusing more on performances of individual firms, particularly smaller ones," said Jeong Hoon-seok, an expert at Korea Investment & Securities.

On the back of the foreign buying, the KOSDAQ index rose 2 percent in February.

In regards to the main KOSPI bourse, foreigners bought a net 1.64 trillion won worth of shares last month, compared with the purchase of shares worth 3.87 trillion won in January. The index inched down 0.4 percent in February, while it spiked 8 percent in the previous month, according to the FSS.

Foreigners' purchase of KOSDAQ shares hits nearly 15-year high - 1


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