The net purchase of shares by foreigners on South Korea's secondary KOSDAQ market hit a 14-year high in May.
According to the Korea Exchange on Monday, Korea-based institutional investors and individuals sold about 168-million U.S. dollars and 159-million dollars, respectively, in May, but foreigners net purchased approximately 500 million dollars... marking the third largest figure in history.
The top four stocks bought by foreigners were concentrated in the pharmaceutical and biotechnology industries… as their stock values dropped due to suspicions over accounting scandals.