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Korean exchange: In the first week of November, foreign investors sold 7.26 trillion won worth of stocks, setting a record for the largest weekly sell-off.
Golden Finance reports that on Sunday, the Korean exchange stated that in the first week of November, South Korea’s major stock indices experienced the largest single-week sell-off by foreign investors in history. The decline was driven by profit-taking and concerns over an AI stock bubble. The exchange indicated that from Monday to Friday, foreign investors sold a total of 7.26 trillion Korean won (approximately 49.8 billion USD) worth of stocks. This amount set a record for the largest weekly foreign investor sell-off in the KOSPI index history, surpassing the previous record of 7.05 trillion Korean won in the second week of August 2021.