Foreigners remain net sellers of S. Korean stocks in February

Foreign investors remained net sellers of South Korean equities in February, extending their selling spree for a third consecutive month, the central bank said Thursday.

Foreigners sold a net $2.86 billion worth of local stocks last month, compared with net selling of $2.39 billion in January, according to the Bank of Korea (BOK).  

Offshore investors, however, remained net buyers of Korean bonds worth $8.99 billion last month, the BOK said.

Meanwhile, volatility in South Korea's currency slightly rose in February from the previous month, the central bank said.

The daily fluctuation of the dollar-won exchange rate came to an average of 4.1 won last month, up from 3.8 won a month earlier.

Situations for the country's foreign currency borrowing remained sound as the spread charged on local banks' short-term, as well as mid- and long-term, overseas borrowing declined, the BOK said.

The spread on credit default swaps for South Korea's five-year dollar-denominated currency stabilization bonds came in at 23 basis points in January, down from 25 basis points a month earlier. (Yonhap)