S.Korea says Sept foreign investment surges on record stock inflows
SEOUL Oct 2 (Reuters) - Net foreign capital investment into South Korean markets hit a nine-month high in September due to a record surge in stock investments, South Korea's financial regulator said on Wednesday, underscoring upwards pressure on the won.
Net foreign investment in South Korean stocks rose by 7.8 trillion Korean won ($7.3 billion), the biggest month jump on records going back to 2001, the Financial Services Commission said in a statement. Foreigners have been net buyers of local stocks for 25 consecutive sessions up to Tuesday.
This offset 2.4 trillion won worth of net outflows from the bond market, the biggest since August 2012. For all of September, foreign net investment rose by 5.4 trillion won, marking the biggest increase since December 2012.
The inflows helped the won rise 3.3 percent against the dollar last month, the biggest monthly gain in nearly two years, prompting warnings from local policy makers that the currency is appreciating too quickly.
Foreign currency dealers suspect local authorities have repeatedly intervened in recent weeks, buying dollars to slow the won's rise. ($1 = 1073.7500 Korean won) (Reporting by Se Young Lee and Joyce Lee; Editing by Chris Gallagher)
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