Seoul, June 12 -- Foreign investors bought South Korean stocks in 10 months due to expectations for the launch of a new government, financial watchdog data showed Thursday.
Foreigners purchased a net 2.01 trillion won (1.5 billion USD) worth of domestic listed stocks in May, turning into net buyers in 10 months, according to the Financial Supervisory Service (FSS). Offshore investors shifted into net buyers both in the main bourse KOSPI and the smaller KOSDAQ market.
The foreign stock purchase came amid expectations for a stabilized political situation. President Lee Jae-myung took office on June 4 following a snap election, caused by the ouster of his predecessor from office over the botched martial law bid last December.
The c...