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Home > mk Business News 프린트 이메일 전송 리스트
Foreigners snap up S. Korea stocks, turning back on 6 Asian markets
2013.09.12 15:28:01 | 2013.09.12 16:53:37
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Foreign investors are scooping up stocks in South Korea but dumping shares in other six Asian markets.

[Foreigners snap up S. Korea stocks, turning back on 6 Asian markets ] 기사의 본문 이미지

They seem to find Korea an attractive destination in light of the Korean economy’s strong fundamentals and its relatively cheap stock prices. As a result, the Korean stock market is projected to remain decoupled from India, Indonesia, and other Asian emerging markets rattled by a turmoil.

Foreign investors extended a net buying for two straight months, pushing the benchmark KOSPI 0.6 percent higher in August, making Korea a sole country that gained in the stock market among seven Asian countries.

The KOSPI advanced on the back of Korea’s solid economic strength, as the possibility of the US Fed’s tapering of asset purchase program highlighted India and Indonesia’s exposure to vulnerability, whereas Korea has logged current account surpluses and holds sufficient foreign exchange reserves.

Some argue, however, that there are a series of impending events that will impact the global financial market and thus merit keen attention: the Federal Open Market Committee’s meeting and its decision on winding down quantitative easing in September; the US debt ceiling negotiations; a possible strike against Syria, and; a successor to the outgoing Fed chairman Ben Bernanke.

Lee Sang-jae, market strategist at Hyundai Securities, said “we need to wait and see how several swing factors will turn out, but the focus should be placed on expectations on a global economic recovery and receding risk.”

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