Foreigners remain net buyers of S. Korean stocks in November

SEOUL, Dec. 10 (Yonhap) -- Foreign investors extended a net purchase of South Korean equities for the second consecutive month in November, supported by hopes of a global economic recovery from the coronavirus pandemic, the central bank said Thursday.

Foreigners bought a net US$5.52 billion worth of local stocks last month, compared with a net purchase of $1.38 billion in October, according to the Bank of Korea (BOK).

Offshore investors became net sellers of Korean bonds worth $450 million last month, the BOK said.

Meanwhile, volatility in South Korea's currency rose in November from the previous month, the central bank said.

The daily fluctuation of the dollar-won exchange rate came to an average of 4.1 won last month, up from 3.4 won a month earlier.

The Korean won appreciated 4.6 percent against the U.S. dollar in November, compared with September.

Situations for the country's foreign currency borrowing remained sound as the spread charged on local banks' short-term, as well as mid- and long-term, overseas borrowing declined, the BOK said.

The spread on credit default swaps for South Korea's five-year dollar-denominated currency stabilization bonds came in at 23 basis points in November, slightly down from 25 basis points a month earlier.

kdh@yna.co.kr
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