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Foreigners net buyers of S.Korea stocks, bonds in August
August 29, 2013 / 12:26 AM / 4 years ago

Foreigners net buyers of S.Korea stocks, bonds in August

SEOUL, Aug 29 (Reuters) - South Korea saw significant capital inflows to its financial markets over most of August, the Bank of Korea said on Thursday, in marked contrast to the massive capital flight some Asian countries have suffered in recent weeks on fears the Federal Reserve will start curbing its stimulus soon.

Foreigners were net buyers of a $900 million in South Korean stocks and a net $1.6 billion in bonds from August 1 to 23, the Bank of Korea said.

“Regarding recent (stimulus) tapering issues, we do not see any signs of foreigners taking money out (of South Korean markets). Rather things have moved in the opposite direction due to our good economic fundamentals and current account surplus,” said Jung Yung-taek, director general of the Bank of Korea’s national accounts division. (Reporting by Christine Kim; Editing by Eric Meijer)

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