November 29, 2024

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Electronic boards showing the Korea Composite Stock Price Index at closure at a dealing room of the Hana Bank headquarters in Seoul, Friday. (Yonhap)

Foreign investors remained net buyers of local securities, recording a net inflow of $2.74 billion (3.56 trillion won) in local securities in November, data from the central bank showed Friday.

According to the Bank of Korea’s report on the international finance and foreign exchange market, foreigners purchased a net $2.1 billion worth of shares and $630 million worth of bonds in Korea in November, continuing the buying rush from the month before.

The figure adds up to a total of $8.05 billion in January-November period.

"Net inflow has been on an increase as the US Federal Reserve is expected to slow down the pace of interest rate hikes; China's easing of its zero-COVID policy; and major firms in and out of Korea posting earnings exceeding market expectations," a BOK official said.

Bolstered by the circumstances, the Korean won has strengthened against the US dollar, the BOK said. The won-dollar currency rate dropped from the 1424.3 won recorded in end-October to 1,321.7 won on Wednesday, despite the trade deficit.

By Im Eun-byel (silverstar@heraldcorp.com)