Foreigners have continued their sell-off of Korean stocks this month in the wake of growing uncertainties in the Chinese economy and the timing of the U.S. interest rate hike weighing down on the local equity market, the bourse operator said Sunday.
  

Foreigners offloaded shares traded on the main KOSPI market for 17 consecutive trading days from Aug. 5 to Friday, with the net amount worth 4.13 trillion won ($3.5 billion), the Korea Exchange said.
  

The losing streak, the sixth-longest period, was part of the broader sell-off in emerging markets as the U.S. Federal Reserve was seen on track to raise the key interest rate, while China's yuan devaluation and stock market rout fueled worries over the world's No. 2 economy.
  

Market watchers expected foreigners to remain net sellers until uncertainties over the timing of the U.S. rate rise is cleared in the upcoming rate-setting meeting.
  

Signs of the slowdown in the Chinese economy and the recent turmoil in the global financial market have raised speculation that the U.S. Federal Reserve may not raise interest rates as early as September. (Yonhap)