SEOUL, April 9 (Yonhap) -- Foreign investors remained net sellers of South Korean stocks for a fourth month in March on profit-taking and rising U.S. long-term interest rates, central bank data showed Friday.
Foreigners' stock investment funds recorded a net outflow of US$2.58 billion, the second-largest monthly outflow after February's $2.86 billion, according to the data from the Bank of Korea (BOK).
Offshore investors have remained net sellers of South Korean stocks since December.
The central bank said foreign investors took profits in March amid an uptick in long-term interest rates in the world's largest economy.
Last month, foreigners bought a net $8.35 billion worth of local bonds, marking the third consecutive month of net inflows.
Foreign investors thus bought a net $5.77 billion worth of South Korean stocks and bonds in March, becoming net buyers of local securities for the second consecutive month.
Meanwhile, the BOK said the daily foreign exchange (FX) turnover between banks stood at $28.68 billion last month, down $800 million from the previous month.
In the January-March period, the daily average FX trading volume came to $28.39 billion, up $3.74 billion from three months earlier.
(News Focus) Housing policy at risk of further losing credibility, public support
Short selling revisited on retail investors' increased sway
Legislation on compensating virus-hit small biz picks up steam
(News Focus) S. Korea drums up measures to revive consumption, create jobs next year amid pandemic
S. Korean companies bet big on hydrogen for zero-emission goal