Foreign Ownership of Top 10 Group Shares Sinks 4.6 pct over Past Month | Be Korea-savvy

Foreign Ownership of Top 10 Group Shares Sinks 4.6 pct over Past Month

(image: KobizMedia/ Korea Bizwire)

(image: KobizMedia/ Korea Bizwire)

SEOUL, Aug. 28 (Korea Bizwire)Foreign ownership of listed firms belonging to South Korea’s top 10 conglomerates tumbled nearly 4.6 percent over the past month amid a market correction, data showed Monday.

Offshore investors held a combined 349.2 trillion won (US$310 billion) worth of shares in 95 listed firms of the leading business groups as of Thursday, down 16.7 trillion won, or 4.56 percent, from a month earlier, according to the data from market tracker FnGuide.

The South Korean stock market has been going through a correction period on foreigners’ massive profit-taking since July 24, when the benchmark Korea Composite Stock Price Index (KOSPI) hit a record high of 2,451.53.

GS Group suffered the biggest decline of 9.77 percent during the period, followed by Samsung with 7.14 percent, Shinsegae with 6.72 percent and SK with 6.18 percent.

However, LG saw foreign ownership of its affiliates rise 4.69 percent to 33.6 trillion won over the cited period, with POSCO and Lotte reporting gains of 2.85 percent and 4.17 percent, respectively.

Property developer SK D&D registered the biggest decrease rate of 28.43 percent in foreign ownership during the period, while Hyundai Robotics, a unit of Hyundai Heavy Industries Group, chalked up the largest gain of 61.68 percent.


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