South Korea's Financial Supervisory Service said foreign investors net-sold
49.336 tln won of listed shares in June, the sixth consecutive month of net
outflows. Net sales were concentrated on the KOSPI (50.979 tln won sold) while
the KOSDAQ saw net inflows of 1.643 tln won. June's outflow exceeded May's
record net sell of 47.019 tln won, setting a new monthly high. Year-to-date
foreign net sales reached 116.3563 tln won, more than ten times last year's
full-year net sell of 11.768 tln won. Despite heavy disposals, foreigners'
end-June holdings of listed shares rose to 2,908.639 tln won, up 56.3 tln won
month-on-month, and foreigners' share of market value climbed to a record of 36.4%.
Analysts attribute the pattern to profit-taking selling amid strong price gains
in major holdings, which pushed up the market value of remaining positions and
the ownership ratio.
