Foreign fund outflow from South Korean financial market hits 13-month high

SEOUL (Xinhua) – Foreign fund outflow from the South Korean financial market hit the highest in 13 months in November, central bank data showed yesterday.

Foreign investors sold domestic stocks and bonds worth USD3.96 billion in November, marking the biggest foreign capital outflow in 13 months since October last year, according to the Bank of Korea (BOK).

Foreign capital of USD2.44 billion withdrew from the domestic stock market, while USD1.52 billion flowed out of the local bond market.

Offshore investors were net sellers in the local stock market for four straight months amid a lingering worry about the global trade dispute.

Export, which makes up about half of the South Korean economy, kept falling for the 12th consecutive month through November.