Foreign fund flows into S. Korean stock market in 5 months

2021-05-12 07:06:12 GMT2021-05-12 15:06:12(Beijing Time) Xinhua English

SEOUL, May 12 (Xinhua) -- Foreign fund flowed into the South Korean stock market last month for the first time in five months, central bank data showed Wednesday.

Foreign capital inflow into the local stock market amounted to 590 million U.S. dollars in April, the first inflow since November last year, according to the Bank of Korea (BOK).

It was attributable to expectations for economic recovery both at home and abroad. South Korea's export advanced 41.1 percent in April on a yearly basis, and its real gross domestic product (GDP) rose 1.6 percent in the first quarter from the previous quarter.

The foreign fund worth 2.74 billion dollars flowed into the domestic bond market in April, continuing an inflow for the fourth consecutive month.

Premium on the credit default swap (CDS), which gauges sovereign credit risk on the country's five-year government bonds, averaged 21 basis points in April, down 1 basis point from the previous month.

The won and dollar exchange rate stood at 1,112.3 won per dollar at the end of April, up 19.5 won from a month ago. The local currency's ascent to the greenback came amid the recent announcement of positive economic indicators. Enditem