foreigners-stock sell-offs
Foreign sell-offs of S. Korean stocks hit record high in Feb.: data
SEOUL, March 3 (Yonhap) -- Foreign investors sold a record high amount of South Korean stocks in February amid woes over artificial intelligence and dimmed hopes for rate cuts by the Federal Reserve, data showed Tuesday.
According to the data from the Korea Center for International Finance (KCIF), foreigners sold a net 19.9 trillion won (US$13.5 billion) worth of local stocks last month, the highest-ever monthly amount on record.
They dumped a net 22.2 trillion won of shares in the country's top two chipmakers -- Samsung Electronics Co. and SK hynix Inc., as part of their moves to adjust investment portfolios.
Foreign investors snatched up a net 8 trillion won worth of local bonds last month, extending their buying to a fourth consecutive month.
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