April 19, 2024
Stocks & Bonds
Stock funds log net inflows in Korea
[THE INVESTOR] Korea’s stock funds have chalked up net inflows for the second straight month, data showed on Aug. 23.
After touching a record high in late July, the KOSPI has been on the skids on foreign investors’ massive profit-taking before regaining some ground in recent sessions. It closed up 0.44 percent at 2,365.33 on Aug. 22.
According to the data by fund researcher Zeroin, domestic stock funds, excluding exchange-traded funds, posted a net inflow of 440 billion won (US$388 million) in July and this month.
Investors put a net 178.6 billion won into stock funds last month, while attracting the remainder during the first 21 days of August.
On a monthly basis, stock funds had logged net outflows for the previous six months as investors rushed to withdraw money amid a widespread perception that the stock index has reached its highest point. In the year to Monday, domestic stock funds registered a net outflow of 4.99 trillion won.
Amid an inflow into stock funds, domestic institutional investors have replaced foreign investors as net buyers, helping bolster the market.
Institutions bought a net 1.3 trillion won in the first 22 days of this month, almost making up for 1.57 trillion won in net selling by offshore investors.
By Alex Lee and newswires (alexlee@heraldcorp.com)
After touching a record high in late July, the KOSPI has been on the skids on foreign investors’ massive profit-taking before regaining some ground in recent sessions. It closed up 0.44 percent at 2,365.33 on Aug. 22.
According to the data by fund researcher Zeroin, domestic stock funds, excluding exchange-traded funds, posted a net inflow of 440 billion won (US$388 million) in July and this month.
Investors put a net 178.6 billion won into stock funds last month, while attracting the remainder during the first 21 days of August.
On a monthly basis, stock funds had logged net outflows for the previous six months as investors rushed to withdraw money amid a widespread perception that the stock index has reached its highest point. In the year to Monday, domestic stock funds registered a net outflow of 4.99 trillion won.
Amid an inflow into stock funds, domestic institutional investors have replaced foreign investors as net buyers, helping bolster the market.
Institutions bought a net 1.3 trillion won in the first 22 days of this month, almost making up for 1.57 trillion won in net selling by offshore investors.
By Alex Lee and newswires (alexlee@heraldcorp.com)
