Seoul: Net selling of South Korean stocks among foreign investors hit a fresh monthly high this month, as the ongoing Middle East conflict fanned risk-averse sentiment, market data showed Tuesday. Offshore investors net sold in total 35.7 trillion won (US$23.3 billion) worth of equities in March, according to the data from the Korea Exchange, South Korea's main bourse operator. According to Yonhap News Agency, foreigners were net sellers of local shares for the past nine consecutive sessions, the data showed, weighing on the benchmark Korea Composite Stock Price Index (KOSPI), which closed 4.26 percent lower on Tuesday. In contrast, local retail investors net purchased a total of 32.8 trillion won worth of shares this month, according to the data. The heavy foreign selling added downward pressure on the Korean won against the U.S. dollar, according to market watchers. The won was quoted at 1,530.1 won per dollar Tuesday, down 14.4 won from the previous session, dropping to a 17-year low against the greenbac k.