Foreigners turn net buyers of local stocks in April

The Korea Times

The Korea Times

Finance

Tue, October 3, 2023 | 07:25

Economy

Foreigners turn net buyers of local stocks in April

Posted : 2023-05-11 14:05

Updated : 2023-05-11 14:05

An electronic signboard in the dealing room of Hana Bank in Seoul shows the benchmark Korea Composite Stock Price Index, May 10. Yonhap

Foreign investors turned net buyers of Korean stocks in April on a rosy outlook for the chipmaking sector, central bank data showed Thursday.

Offshore investors bought a net $910 million worth of local stocks last month, a turnaround from a net selling of $1.73 billion a month earlier, the first net offloading of local stocks in six months, according to the data from the Bank of Korea (BOK).

The central bank said foreigners' net stock purchase was driven by an upbeat outlook for chipmakers, such as Samsung Electronics and SK hynix.

Foreigners also bought a net $2.33 billion worth of local bonds, the second straight month of net buying.

Meanwhile, the premium on credit default swaps (CDS) for Korea's five-year dollar-denominated currency stabilization bonds amounted to 45 basis points in April, up from the previous month's 43 basis points. A basis point is 0.01 percentage point.

The CDS premium reflects the cost of hedging credit risks on corporate or sovereign debt. A rise implies a drop in the credit of sovereign bonds and higher borrowing costs. (Yonhap)

Top 5 Entertainment News

1	INTERVIEWAhn Hyo-seop wanted to share dedicated love with 'A Time Called You'

2	'Dr. Cheon and Lost Talisman' tops Chuseok holiday box office

3	M+ deputy director discusses Seoul's potential to challenge Hong Kong as Asia's art hub

4	INTERVIEW'Coexistence of different art hubs across Asia is necessary': Art Week Tokyo Director

5	Trailblazing nonagenarian artist honored for redefining Korean fiber art

DARKROOM