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Foreigners sell S. Korean stocks in November

Xinhua, December 16, 2015 Adjust font size:

Foreign investors sold South Korean stocks in November, resuming a selling trend on expectations for interest rate hike in the United States, financial watchdog data showed Wednesday.

Foreigners sold a net 1.17 trillion won (1 billion U.S. dollars) of domestic stocks in November after purchasing 584 billion won worth of shares in October, according to the Financial Supervisory Service (FSS).

Offshore investors sold local stocks for four months through September, before turning into net buyers in October.

They resumed a selling trend in November on widespread expectations for the U.S. rate hike in December.

The higher U.S. interest rate may cause foreign capital to flow out of the South Korean stock market because it can trigger the South Korea's currency depreciation to the U.S. dollar and lead to foreign exchange losses among foreign investors.

Saudi investors reduced local stock holdings by 308 billion won in November, after dumping 1.9 trillion won of stocks in October, as lower oil prices hit the oil-exporting country.

Foreign ownership of local listed stocks reached 430.1 trillion won as of end-November, down 11.7 trillion won from a month earlier.

Meanwhile, foreigners made a net investment into local listed bonds worth 69 billion won in November. The net investment means net bond buying minus maturing debts.

As of end-November, foreign holdings of local bonds reached 102.05 trillion won, or 6.5 percent of the total listed bonds. Enditem