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Foreigners turn net buyers of Korean stocks in Oct. on dip-buying

Finance 12:00 November 09, 2022

SEOUL, Nov. 9 (Yonhap) -- Foreign investors turned net buyers of South Korean stocks in October despite continued global monetary tightening as they picked up oversold shares, central bank data showed Wednesday.

Foreigners' stock investment funds logged a net inflow of US$2.49 billion in October, swinging from the previous month's net outflow of $1.65 billion, according to the data from the Bank of Korea (BOK).

The BOK said that foreign investors snapped up oversold shares, especially tech stocks in the local stock markets, buoyed by eased jitters over the British financial chaos.

Foreigners also turned net buyers of local bonds.

Foreigners' bond investment funds expanded $280 million on-month in net value last month, turning around from $1.31 billion and $640 million declines in August and September, respectively.

Their combined investment funds in local securities -- stocks and bonds -- posted a net inflow of $2.77 billion last month, compared with a net outflow of $2.29 billion a month earlier, according to the data.

A currency trader hangs her jacket on a chair in front of screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between the U.S. dollar and the South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul on Nov. 4, 2022, in this Associated Press photo. (Yonhap)


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