SEOUL, Nov. 7 (Yonhap) — Foreigners sold a total of 3.1 trillion won (US$2.39 billion) worth of South Korean stocks in the last month, continuing to divest their holdings for a third consecutive month, according to data released Tuesday.
After the sell-off, foreign investors held 624.8 trillion won in local stocks, which accounted for 27.2 percent of the total market capitalization. Norway was the largest net buyer of South Korean stocks in October, having purchased 600 billion won worth of shares. Singapore followed with 400 billion won.
The United States, however, was a net seller of 600 billion won worth of shares, but remained the largest holder of South Korean stocks, with 259.3 trillion won worth of local shares, which accounted for 41.5 percent of all foreign holdings as of the end of October.
Additionally, foreigners net sold 696 billion won worth of local bonds. Their cumulative holdings of local bonds had come to 241.6 trillion won as of the end of October, representing 9.7 percent of all listed bonds in the country, according to the data.
bdk@yna.co.kr
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