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Foreigners buy S. Korean stocks for 3 months to September
Last Updated: 2018-10-15 13:46 | Xinhua
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Foreign investors bought South Korean stocks for three months through September amid the eased geopolitical risks, financial watchdog data showed Monday.

Net foreign purchase of local listed stocks was 580 billion won (512 million U.S. dollars) in September, according to the Financial Supervisory Service. Foreigners were net buyers in the local stock market for three months since July.

It came amid the moderated geopolitical risks on the Korean Peninsula. South Korean President Moon Jae-in and top leader of the Democratic People's Republic of Korea (DPRK) Kim Jong Un held their third summit in Pyongyang in September, reconfirming their commitment to the peninsula's denuclearization.

Foreign holdings of domestic stocks reached 597 trillion won (527 billion U.S. dollars) as of end-September, taking up 31.5 percent of the total market capitalization.

In the local bond market, foreigners posted a net outflow of 1.9 trillion won (1.7 billion U.S. dollars) in September, marking the first outflow in nine months.

It came as the Bank of Korea (BOK) refrained from altering its policy rate since the bank raised it to the current 1.50 percent in November last year from an all-time low of 1.25 percent.

The U.S. Federal Reserve lifted its target rate in September to a range of 2.00-2.25 percent, widening the gap with the BOK's benchmark rate.

Foreign ownership of domestic bonds was 112.1 trillion won (98.9 billion U.S. dollars) as of end-September, making up 6.5 percent of the total listed bonds.

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