Foreign Investors Unload South Korean Stocks at Record Pace
Foreign investors sold $801 million of Kospi-listed shares on Monday, adding to $10 billion in outflows from the prior week. Year-to-date sales total $75 billion, according to Goldman Sachs.
Foreign investors have sold South Korean stocks in every trading session over the past month. On Monday, the selloff amounted to -$801 million of KOSPI-listed shares, following -$10 billion in outflows recorded last week.
According to Goldman Sachs, cumulative year-to-day sales from foreign investors have reached -$75 billion. In contrast, domestic retail and institutional investors have purchased +$69 billion worth of Korean equities over the same period, partially offsetting the foreign exodus.
The sustained selling pressure marks an unprecedented selloff in South Korean equities, with the KOSPI under significant strain.
Source: The Kobeissi Letter