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Home > mk Business News 프린트 이메일 전송 리스트
Foreigners withdraw $3.2 bn from S. Korean stock market
2013.06.18 15:33:37 | 2013.06.18 16:30:04
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The South Korean stock market suffered the largest amount of foreign capital outflow amongst the Asian emerging countries, showed data.

Korean market literally served as “ATM (automated teller machine)” for foreign investors as Asian stock markets plummeted on fears over the tapering of the US quantitative easing.

[Foreigners withdraw $3.2 bn from S. Korean stock market] 기사의 본문 이미지

Foreign investors net-sold Korean stocks worth $3.2 billion over a week from June 10 to 14, according to the financial investment industry Tuesday.

Over the corresponding period, foreign investors net-sold 1.18 million of stocks in Indonesia and $1.03 billion in Taiwan but the amount fell far short of that in Korea.

Net selling of Taiwanese stocks by foreign investors reached $491 million, Indonesian stocks $265 and the Philippines’ stocks $67 billion.

If the quantitative easing ends in the developed country, this will reduce the effect of economic stimulus measures on the economy. This explains why Asian emerging stock markets nosedived last week.

Korea, with stronger economic fundamentals than the Southeast Asian emerging countries, is likely to face limited economic impact from the end to the QE. However, foreign capital outflows from the Korean stock market were the biggest.

Based on the cumulative amounts for the first three months and six months of this year, foreign net selling is overwhelmingly high in Korea.

Foreign investors net-sold stocks worth $7.09 billion in the January-March period and $4.6 billion in the first half of this year, respectively.

ⓒ Copyrights Yonhap News



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