Foreigners extend selling streak to 17th straight session amid market advance

All News 16:32 March 27, 2020

SEOUL, March 27 (Yonhap) -- Foreign investors continued to sell local stocks for a 17th consecutive session on fears of the new coronavirus' economic impact, data showed Friday.

Offshore investors offloaded a net 372.2 billion won (US$307.3 million) worth of local stocks on Friday.

Foreigners' daily selling volume narrowed from the previous session's 530.6 billion won, however, as optimism grew over the U.S. government's US$2.2 trillion stimulus package.

An electronic signboard at Hana Bank in Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) gaining 1.87 percent to close at 1,717.73 on March 27, 2020. (Yonhap)

Since March 5, foreigners have net sold a combined 11.1 trillion won in stocks amid an extended market rout sparked by the COVID-19 pandemic.

The U.S. relief plan won the Senate's approval earlier this week and is expected to pass the House of Representatives on Friday (local time).

Taking a cue from positive leads in the United States, South Korea's benchmark Korea Composite Stock Price Index (KOSPI) gained 1.87 percent to finish at 1,717.73 points.

jwc@yna.co.kr
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