Seoul: Foreign investors recorded their second-largest monthly sell-off of South Korean stocks in November, as they moved to take profit last month, central bank data showed Friday. Offshore investors sold a net US$9.13 billion worth of local stocks last month, following $3.02 billion in net purchases the previous month.

According to Yonhap News Agency, the November sell-offs mark the largest since the record selling of $9.33 billion in April this year. The country's benchmark KOSPI index dropped nearly 16 percent in November after a bull run since April, amid concerns over a bubble in the artificial intelligence (AI) sector, which prompted investors to cash in gains.

The KOSPI has more than doubled so far this year, aided by a strong rally in chipmakers and other market heavyweights. Despite the sell-off in stocks, foreign investors snatched up a net $11.81 billion worth of bonds last month, the largest on record, the data showed.

Daily fluctuations in the won-dollar exchange rate narrowed, averaging 5.3 won in November, compared with 5.6 won a month earlier, the data showed.