Foreigners sell S. Korean stocks for 3rd month in October

SEOUL, Nov. 8 (Xinhua) — Foreign investors sold South Korean stocks for the third successive month due to lingering worry about economic slowdown, financial watchdog data showed Friday.
Foreigners offloaded a net 4.39 trillion won (3.1 billion U.S. dollars) worth of locally listed stocks in October, remaining net sellers since August, according to the Financial Supervisory Service (FSS).
Offshore investors were net sellers both in the main bourse KOSPI and the smaller KOSDAQ markets.
The foreign sell-off was attributable to concerns about economic downturn. The Asian country’s real gross domestic product (GDP), adjusted for inflation, added 0.1 percent in the third quarter compared to the previous quarter after contracting 0.2 percent in the second quarter. ■