Chinese investors turned net buyers of Korean stocks in 2017 as Seoul and Beijing mended fences after the THAAD row, data showed on March 5.
Investors from the neighboring country bought a net 388 billion won (US$358 million) worth of Korean stocks last year, a sharp turnaround from net selling worth 1.6 trillion won in 2016 and 136 billion won the previous year, according to the data from the Financial Supervisory Service.
Chinese investors’ net purchases soared to 279 billion won in October from 88 billion won a month earlier, with the amount reaching 260 billion won in January this year.
Helped by strong recent net buying, their ownership of listed stocks exceeded 12 trillion won as of end-January, compared with 11.7 trillion won at the end of last year.
Market watchers said Chinese investors’ net purchases resulted not only from improved Sino-Korean relations but also the allure of the Korean stock market, including a stellar rise in the main bourse.
By Song Seung-hyun and newswires (firstname.lastname@example.org