September 13, 2017 12:05
Foreign investors sold huge amounts of Korea shares last month as North Korea launched several long-range missiles, ending months of keen acquisitiveness.
According to the Financial Supervisory Service on Tuesday, foreign investors sold W2.42 trillion worth of Korean stocks in August (US$1=W1,130).
Foreigners had snapped up Korean stocks since December last year. The International Finance Center said jitters spread among foreign investors following North Korea's missile provocations.
U.S. investors sold W800 billion worth of Korean stocks, followed by Singaporeans with W500 billion, Britons with W400 billion, Canadians with W227 billion and Swedes with W177 billion.
As of the end of last month, foreigners still owned some W700 trillion worth of Korean stocks, with Americans holding W246.7 trillion worth or 41.4 percent of foreign stock ownership, followed by Europeans (W169.6 trillion), Asians (W74 trillion) and Middle Eastern investors (W24.9 trillion).
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