Foreign Investors Sell $9 Billion of Korean Stocks This Month as Kospi Slides 20%

Foreign investors have sold a net 12.4 trillion won ($8.96 billion) of South Korean stocks so far this month.

BlockBeats reported on July 19 that overseas investors were net sellers of 12.1 trillion won ($8.74 billion) on the Kospi from July 1 through July 16. They also sold a net 340 billion won ($246 million) on the Kosdaq during the same period.

That means foreigners dumped a total of 12.4 trillion won ($8.96 billion) of Korean equities this month alone. Over the same stretch, the Kospi fell about 19.5% to 6,820.60 on July 16 from 8,476.48 on June 30.

By contrast, foreign investors bought 600 billion won ($434 million) of locally listed exchange-traded funds this month. They were net buyers of 195 billion won ($141 million) of the KODEX Leverage ETF, 180 billion won ($130 million) of the KODEX 200 ETF and 130 billion won ($94 million) of the KODEX 200 Futures Inverse 2X ETF.

Among single-stock leveraged ETFs, they bought 23 billion won ($16.6 million) of Samsung Electronics-related products. They were net sellers of 122 billion won ($88.2 million) of leveraged ETFs tied to SK Hynix.