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Foreigners extend selling streak to 25th consecutive session

All News 17:01 April 08, 2020

SEOUL, April 8 (Yonhap) -- Foreign investors continued to dump local stocks for a 25th consecutive session on Wednesday, seeking to secure cash amid prolonged coronavirus uncertainties.

Offshore investors offloaded a net 137 billion won (US$112 million) worth of local stocks on Wednesday.

Since March 5, foreigners have net sold a total of 13.6 trillion won worth of local stocks.

An electronic signboard at KB Kookmin Bank in Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) down 0.9 percent to close at 1,807.14 points on April 8, 2020. (Yonhap)

With the rising death toll in the U.S., foreigners' sell-offs continued amid fears that the COVID-19 pandemic's economic fallout may not have reached its worst part.

The death toll from the coronavirus in New York City has topped 4,000, more than the number of Americans killed in the terror attacks on Sept. 11, 2001.

Investors were wary of fluctuating oil prices ahead of a crucial meeting of oil-producing countries to discuss output reduction.


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