Foreign investors sold a net 21.5108 trillion won of shares on South Korea’s KOSPI in September, extending their selling streak to five consecutive months. Market watchers linked the outflows to reduced risk-asset exposure as U.S. interest rates rose, along with profit-taking in large-cap semiconductor stocks, even as the won traded in the 1,300-per-dollar range. Samsung Electronics and SK hynix accounted for 76.6% of foreign net selling, while their share of KOSPI market capitalization rose to 50.85%. Analysts said a sustained reversal will require confidence in next year’s earnings and greater interest-rate stability, with early October export data and Samsung Electronics’ preliminary third-quarter results set to provide an initial test. Rising U.S. inflation and employment data, as well as companies’ willingness to maintain artificial intelligence investment despite high borrowing costs, will also be closely watched.