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Foreigners turn to net buyers on S. Korean stock market
Date
2018.04.11
Views
917


According to Yonhap News,

(SEOUL=Yonhap News) Foreign investors turned to net buyers on the South Korean stock market last month on cautious optimism for improved corporate earnings, the central bank said Wednesday.

Foreigners purchased US$170 million worth of local shares in March, turning around from sales of $3.63 billion the previous month, according to the Bank of Korea (BOK).

Foreign investment has been fitful on the South Korean financial market amid geopolitical tensions on the Korean Peninsula following Pyongyang's sixth and most powerful nuclear test. Conditions have improved markedly amid a mood of dialogue, with the two Koreas and the United States set to hold summit meetings.

On the bond market, offshore investors have remained net buyers for three months in a row, scooping up $960 million worth of bonds in March.

In total, foreigners bought a net $1.13 billion worth on the local equity market last month.

Meanwhile, volatility in South Korea's currency markets decreased slightly in March from a month earlier amid a weakening U.S. dollar trend.

Session-over-session changes in the dollar-won exchange rate averaged 0.32 percent in March compared with 0.51 percent a month earlier, the BOK said.

On average, the Korean won posted 3.4 won in daily value changes against the U.S. greenback last month, narrowing from 5.5 won tallied in the previous month, it said.

The won finished at 1,067.1 won against the greenback on Monday, compared with 1,082.8 won at the end of February, the BOK said.

The credit default swaps premium for foreign exchange stabilization bonds came to 49 basis points in March, down from 52 basis points a month earlier, the bank added.

brk@yna.co.kr


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Source: Yonhap News (Apr. 11, 2018)

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