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Foreign Investors Sold 16 Trillion Won worth Conglomerates’ Stocks in One Month
Selling Spree
Foreign Investors Sold 16 Trillion Won worth Conglomerates’ Stocks in One Month
  • By Yoon Yung Sil
  • August 29, 2017, 05:15
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Korea’s top 10 business groups owned by foreign investors decreased by more than 16 trillion won (US$14.27 billion) in one month.
Korea’s top 10 business groups owned by foreign investors decreased by more than 16 trillion won (US$14.27 billion) in one month.

 

As the correction territory has recently continued, the stock value of listed subsidiaries from South Korea’s top 10 business groups owned by foreign investors decreased by more than 16 trillion won (US$14.27 billion) in one month.

According to financial market tracker FnGuide on August 28, the stock value of 95 listed companies of South Korea’s top 10 groups owned by foreigners stood at 349.2 trillion won (US$311.511 billion) as of the 24th, down 16.7 trillion won (US$14.9 billion), or 4.56 percent, from 365.9 trillion won (US$326.4 billion) on July 24.

By group, GS Group showed the sharpest drop of 9.77 percent in the stock values owned by foreign investors from 3.1 trillion won (US$2.77 billion) to 2.8 trillion won (US$2.5 billion) over the same period, followed by Samsung Group with -7.14 percent, Shinsegae Group with -6.72 percent and SK Group with -6.18 percent.

However, LG Group showed the increase of 4.69 percent from 32.1 trillion won (US$28.64 billion) to 33.6 trillion won (US$29.97 billion) during the cited period. The value of POSCO, Lotte and Hanwha stocks owned by foreigners also increased 2.85 percent, 4.17 percent and 3.97 percent, respectively.