BlockBeats News, June 9th, according to The Kobeissi Letter citing Goldman Sachs data, global investors are selling South Korean stocks at an unprecedented pace. On Monday, foreign investors net sold approximately $8.01 billion worth of stocks from the Korea Composite Stock Price Index (KOSPI), following a outflow of around $10 billion in the previous week.
The data indicates that for every trading day in the past month, foreign investors have been in a net selling position, leading to a total net outflow of $75 billion from South Korean stocks since the beginning of this year.
Meanwhile, South Korean retail investors and institutional investors have cumulatively net purchased around $69 billion during the same period, continuously absorbing the selling pressure from foreign investors. The Kobeissi Letter stated that the South Korean stock market is undergoing a historic shift in fund flows.
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