Korean Won Hits 17-Year Low Amid Foreign Outflows
The Korean won has fallen to a 17-year low due to significant foreign outflows, prompting Korean officials to closely monitor the situation.
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Foreign selling drags Kospi down 5%, sends won to 17-year low
Heavy foreign selling rattled South Korean markets on Friday, dragging the benchmark Kospi down more than 5 percent and driving the won to a 17-year low against the greenback. The Kospi closed down 5.54 percent at 8,160.59 on the day. The benchmark index opened sharply lower, tracking an overnight decline in US semiconductor stocks after Broadcom projected third-quarter AI-related revenue of $16 billion, falling short of market expectations. It fell as much as 6 percent in early trading to 8,038
By The Korea Herald
Read full article →Korean Officials Are "Paying Close Attention" As Foreign Outflows Trigger Bond/Won Collapse
Korean Officials Are "Paying Close Attention" As Foreign Outflows Trigger Bond/Won Collapse Unless you have been living under a rock, you'll know that South Korea's stock market has been rocketing higher on the back of the AI/Semi speculation as SK Hynix and Samsung have dominated (accounting for over 40% of the KOSPI market cap)... But, as the following chart from Goldman Sachs shows, this surge in Korean stocks has been driven by domestic Retail investors as Foreign investo...
By Tyler Durden
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