April 27, 2024
Economy
Foreign investors’ stock investments top W511tr
[THE INVESTOR] The combined stock investments by foreigners has exceeded 511 trillion won (US$445 billion), hitting an all-time high, data showed on March 14.
According to the Korea Exchange, foreigners have purchased a net 4.22 trillion won worth of shares here this year alone, helping drive up the benchmark index KOSPI to 2,117.59 points on March 13. The total equity investments swelled to 1,369.70 trillion won.
Foreign investors‘ buying spree on the Seoul bourse has lasted for nearly a year. In particular, they scooped up a net 2.3 trillion won worth of stocks in the eight trading days so far in March, despite Beijing ratcheting up economic pressure on Seoul over the deployment of an advanced US missile defense system here.
Market watchers attributed it to expectations of a global economic recovery and a perception that South Korea’s stock market is undervalued.
“For foreign investors, South Korean stocks have an advantage of being relatively undervalued. The local stock market is expected to show a trend of being synchronized with the U.S. stock market,” said Kim Sung-hwan, a Bookook Securities analyst.
By Alex Lee and newswires (alexlee@heraldcorp.com)
According to the Korea Exchange, foreigners have purchased a net 4.22 trillion won worth of shares here this year alone, helping drive up the benchmark index KOSPI to 2,117.59 points on March 13. The total equity investments swelled to 1,369.70 trillion won.
Foreign investors‘ buying spree on the Seoul bourse has lasted for nearly a year. In particular, they scooped up a net 2.3 trillion won worth of stocks in the eight trading days so far in March, despite Beijing ratcheting up economic pressure on Seoul over the deployment of an advanced US missile defense system here.
Market watchers attributed it to expectations of a global economic recovery and a perception that South Korea’s stock market is undervalued.
“For foreign investors, South Korean stocks have an advantage of being relatively undervalued. The local stock market is expected to show a trend of being synchronized with the U.S. stock market,” said Kim Sung-hwan, a Bookook Securities analyst.
By Alex Lee and newswires (alexlee@heraldcorp.com)
