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Foreign Selloff of S. Korean Stocks Hits Record in March

Written: 2020-04-13 10:05:03Updated: 2020-04-13 11:32:59

Foreign Selloff of S. Korean Stocks Hits Record in March

Photo : YONHAP News

Foreign investors sold a record amount of South Korean stocks last month due to financial volatility caused by the COVID-19 pandemic. 

According to data from the Financial Supervisory Service(FSS), foreigners sold a net 13-point-45 trillion won worth of local stocks in March. 

The figure marks the largest-ever monthly selloff that broke the previous record of nine trillion won posted in August 2007. 

The foreign selloff continued for the second straight month. In February, foreigners dumped a net three-point-23 trillion won.

By country, investors from the U.S. sold five-point-five trillion won last month, while those from Britain offloaded one-point-nine trillion won. 

In contrast, investors from Switzerland and Saudi Arabia net purchased 500 billion won worth of stocks, respectively.

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