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5% or more of 500 S.K. companies’ shares held overseas
Even as foreign investors have been on a selling spree this year in the local stock market, the number of South Korean companies in which they hold more than 5 percent of shares has increased, a report showed. According to the report, released October 23 by the Korea Exchange, foreign investors held 5 percent or more in a total of 507 listed South Korean firms as of the end of September, up 16.3 percent from the same period last year. This number increased more among firms in KOSDAQ than in the main bourse, the reported also showed. U.S.-based Capital Research & Management Co. came in first, with stock values estimated at some 7.45 trillion won (US$8 billion) held in 21 local firms. In the tech-savvy KOSDAQ, AIF II NT, Ltd. of Malaysia’s Labuan ranked first, with stocks amounting to 1.32 trillion won.By country, investors from the U.S. are the largest foreign shareholders in South Korean firms, followed by those from Belgium and Singapore, respectively, the report showed. During the same period, however, foreign investors have sold a net combined 10 trillion won worth of stocks. The shareholdings held by foreigners in Samsung Electronics Co. declined to 50.16 percent at the market’s October 20 close, compared with 60.13 percent in April 2004. Analysts explain that foreign investors are stepping up efforts to adjust their portfolios, which has resulted in such contrasting figures.
