Investors from outside of South Korea purchased KRW446.2 billion or US$394.6 million in South Korean domestoc bonds last Thursday. This is almost equal to the net stock sales by foreigners according to data collated.
This was the biggest net purchase in a day of South Korean bonds by foreigners since the 10th of June. According to data from the Korean finance ministry, despite the bond price that fell across the board, there has been a broad cross-market selloff throughout the Asian region.
In the main stock exchange in Seoul, about KRW446.8 billion worth of shares were sold to foreign investors according to data collected on Thursday. Overall, the benchmark KOSPI declined by 2%, which extends the losses that have accumulated since May at 8%. This was caused by fears that the US Federal Reserve would begin to lower the inputs to stimulus together with the signs that the Chinese economy has begun to stall.
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