Foreign investors are continuing to snap up Korean stocks, setting a new record of 35 days of unbroken buying Thursday.
Foreigners bought W284.4 billion (US$1=W1,064) worth of shares on the Korean stock market on Thursday alone.
They have now bought W12.1 trillion worth of Korean stocks since Aug. 23. The previous record was 34 days between January and March 1998, just after the Asian financial crisis.
Stocks held by foreigners now account for more than 35 percent of total market capital on the Korea Composite Stock Price Index.
The KOSPI surpassed the 2,050 point level at one point in trading but closed at 2,040 on Thursday, down 0.3 percent from the previous day. Institutional investors sold W223.5 billion worth of shares while individual investors sold W32 billion worth.
Analysts expected foreign investors to continue snapping up Korean stocks for the time being. "There is a strong chance that the U.S. will not end quantitative easing until next year, while more and more investors see Korea's economic fundamentals as better than other emerging countries," said Oh Hyun-seok at Samsung Securities.
Continued foreign buying is buoying up the won, which closed at W1,063.7 against the dollar, up W1.8 from the previous day.