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Foreigners sell S Korean stocks, bonds in June

SEOUL (XINHUA) – Foreign investors sold South Korean stocks and bonds last month amid growing concerns about global economic recessions, financial watchdog data showed yesterday.

Foreigners offloaded a net KRW3.87 trillion worth of local stocks in June, remaining net sellers in the domestic stock market for the sixth consecutive month, according to Financial Supervisory Service.

The foreign net sale came amid rising worry about global economic recessions, driven by high inflation and interest rate hikes in major economies.

Foreign holdings of local stocks amounted to KRW593.7 trillion at the end of June, taking up 26.4 per cent of the total market capitalisation.

Offshore investors bought domestic bonds worth KRW10.54 trillion in June.

However, given the maturing debts worth KRW11.48 trillion, foreigners retrieved KRW940 billion in the local bond market.