ForeignInvestors News & Analysis
2 articles
Market Mood
Egypt (EGP) Current Account Deficit Widens to $5.1 Billion
Egypt's current account deficit increased to $5.1 billion for the January-March period. This figure marks a considerable change compared to previous reports and reflects ongoing economic challenges. The widening deficit indicates a higher outflow of payments compared to income from foreign sources, which can impact the country's foreign reserves. Such a significant deficit can affect investor confidence and market stability, making it crucial for foreign investors to monitor developments in Egypt's economy.
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Kospi Foreign Investors Sell 1.24T Won Amid Record Gains
Foreign investors sold approximately 1.24 trillion won (around $801 million) in Kospi-listed shares on Monday, adding to a total of $62 billion in net outflows since late May. This selling occurs despite the Kospi index showing significant year-to-date gains of over 8%. Analysts attribute the forced selling to increasing weightings of Korean stocks in benchmarks, requiring active fund managers to adjust positions. Remarkably, domestic investors have offset this selling with estimated inflows of $70 billion this year, indicating a mixed outlook for the market.
Read More: Kospi Foreign Investors Sell 1.24T Won Amid Record Gains