Seoul:According to Yonhap News Agency, corporate direct financing in August decreased for the second consecutive month due to reductions in stock and bond sales.

Local companies collectively raised 16.33 trillion won (US$11.99 billion) by selling stocks and bonds last month. This amount represents a decrease of 10 trillion won, or 38 percent, compared to the previous month, as reported by the Financial Supervisory Service (FSS).

Stock sales amounted to 4.55 trillion won in August, marking a decline of 1.04 trillion won, or 69.5 percent. Meanwhile, corporate bond sales dropped by 8.97 trillion won, or 36 percent, amounting to 15.88 trillion won during the same period.

Despite the downturn in sales, the value of outstanding corporate bonds rose to 768.85 trillion won by the end of August, reflecting an increase of 1.89 trillion won, or 0.2 percent, from the previous month.