Why did the won strengthen while foreigners sold stocks?

Selling shares and converting the proceeds into dollars are separate decisions. We start with who bought the shares, then follow where the money stayed and what happened to the exchange rate.

1. Who bought the shares that foreign investors sold?

   Separating retail investors, institutions and companies reveals who supports the market. Look at both sides of the trade before the scale of selling.

   Read on Naver (Korean)#17 The Value of Savings

2. When can stock selling and won weakness move in different directions?

   Distinguish stock-market trading flows from money moving through the FX market. Read why trade and overseas investment also matter.

   Read on Naver (Korean)#18 The Exchange Rate's Message

3. Where did the money from stock sales stay?

   Broaden the view from cash equities to currency conversion and government-bond futures. Separate confirmed money flows from what remains unknown.

   Read on Naver (Korean)

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