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Shares in Australia, Japan, and South Korea all fell, while futures for benchmarks in Hong Kong pointed to losses. Thats after equities in the US dropped from nearly overbought levels, following a relentless advance to all-time highs.
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The selloff in October is in contrast to their activity in the rest of 2024. So far this month, foreigners have sold stocks worth 6,100 crore daily on average. They were buyers to the tune of 500 crore daily on average between January and September.
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Outflows caused by Hyundai Motor routing funds to its parent in South Korea after the IPO also put pressure on the rupee, dealers said. The automaker is listing its stock in the biggest-ever IPO in the country - and the biggest initial share sale in the world in 2024.
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News and Media
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