Foreign investors’ stock sell-offs extended in Feb.

SEOUL, March 8 (Yonhap) — Foreign investors remained net sellers of South Korean stocks last month, extending their selling spree for a third consecutive month, data showed Monday.

Foreigners sold a net 3.24 trillion won (US$2.87 billion) worth of local stocks in February, according to the data from the Financial Supervisory Service (FSS).

American investors sold a net 1.37 trillion won of stocks last month, while investors from the Cayman Islands net purchased 840 billion won worth of stocks, according to the FSS.

As of end-January, local stocks held by foreign investors came to 797.5 trillion won, accounting for 31.6 percent of the country’s market capitalization.

Foreigners also bought a net 8.98 trillion won worth of local bonds last month.

Their bond holdings were valued at 161.5 trillion won, or 7.7 percent of the total, as of end-February.