Seoul: Foreign investors remained net buyers of South Korean securities in October amid a strong stock market, though their net purchases shrank from a month earlier due to profit-taking, central bank data showed Thursday. Offshore investors bought a net US$2.29 billion worth of local stocks and bonds last month, following $9.12 billion in net purchases in September.

According to Yonhap News Agency, by asset type, foreigners purchased a net $3.02 billion worth of local stocks, extending their buying streak to a sixth month, while they sold a net $720 million worth of bonds, swinging from $4.78 billion net buying the previous month. "Stock-related funds posted a net inflow for the sixth consecutive month, supported by solid global investment sentiment toward artificial intelligence (AI), though its growth slowed due to profit-taking following recent stock gains," a BOK official said. "Bond funds turned to a net outflow as public institutions continued to sell short-term bonds," he added.

In October alone, the Korea Composite Stock Price Index (KOSPI) jumped 19.9 percent. The data also showed that the Korean won weakened markedly against the U.S. dollar in October, falling to an average of 1,424.4 won from September's 1,402.9 won. Daily fluctuations in the won-dollar exchange rate widened, averaging 5.6 won in October, compared with 3.9 won a month earlier, the data showed.