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Foreign net selling of South Korean stocks reached 3.38 trillionwon (2.86 billion U.S. dollars) last month as offshore investorsoffloaded local shares amid concerns over the possible exit ofGreece from the euro zone, a financial watchdog said Monday. Foreign investors sold a net 3.38 trillion won worth of locallisted stocks in May due to worries that Greece may be forced outof the euro area due to the potential default risk, according tothe Financial Supervisory Service (FSS). European investors led the foreign selling by offloading a net 2.95trillion won worth of local stocks, higher than the April's 1. 05trillion won sales. Net selling by U.S. investors amounted to 445.7billion won in May, up from 283 billion won in sales tallied in theprevious month. British and Luxembourg investors sold shares worth 1.72 trillionwon and 610.6 billion won respectively last month, but investorsfrom United Arab Emirates (UAE), Norway and Canada purchased stocksworth 349.3 billion won, 224.1 billion won and 116.8 billion woneach. As of the end of May, foreign holdings in local listed stocksreached 367.85 trillion won (311.35 billion U.S. dollars), or 31.4percent of the total market capitalization, according to the FSS. The largest owner was U.S. investors who held 150.9 trillion won inlocal stocks, or 41 percent of total foreign ownership, as ofend-May. It was followed by the European investors with 110.9trillion won, British investors with 36 trillion won and Luxembourginvestors with 24.7 trillion won. Meanwhile, foreign net investments in local listed bonds,calculated by net bond buying minus the amount of maturing debts,grew by 630.2 billion won in May, a turnaround from the April's256.2 billion won contraction, according to the FSS. Net investment by European investors expanded 752.1 billion wonlast month after reducing 256.2 billion won in April, and investorsfrom Switzerland and Luxembourg widened their net investments to617.9 billion won and 177.8 billion each in May. U.S. investors posted a contraction of 572 billion won in net bondinvestments last month, down from the April's 6.4 billion wongrowth, while net investment by British and Chinese investorsretreated 158.5 billion won and 96.7 billion won each. As of the end of May, foreign holdings of local listed bondsamounted to 88.55 trillion won, or 7.1 percent of total ownership,according to the FSS. The largest owner was European investors who held 25.9 trillion wonin local bonds, or 29.3 percent of total foreign holdings, as ofend-May, up from 24.8 trillion won tallied a month before. It wasfollowed by U.S. investors with 17.6 trillion won, Luxembourginvestors with 14.2 trillion won and Chinese investors with 10.3trillion won. (1 U.S. dollar equals 1,181 won). The e-commerce company in China offers quality products such as Nickel Alloy Pipe , Stainless Steel Welded Pipes, and more. For more , please visit Duplex Stainless Steel Pipes today!
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