Seoul, Nov 29 (SocialNews.XYZ) South Korean institutions' investment in foreign securities climbed 5.4 percent from three months earlier in the third quarter, partly on the back of an increase in the value of overseas stocks and bonds, central bank data showed on Friday.
According to the data from the Bank of Korea (BOK), the outstanding value of foreign securities held by local institutional investors stood at $427.41 billion as of September end, up from $405.45 billion logged three months earlier, Yonhap news agency reported.
Foreign securities include stocks, bonds, and "Korean paper," which refers to foreign currency-denominated securities issued by the South Korean government, banks, and companies in overseas markets.
The growth was attributable to an increase in the value of foreign stocks and bonds held by the investors, as well as a rise in their fresh investments.
Local institutions' investment in foreign stocks rose by $12.58 billion on-quarter in the third quarter, and the value of their foreign bond holdings climbed $7.85 billion, the data showed.
Meanwhile, the institutions' investment also increased in the first quarter of the year due to a rise in the value of overseas stocks, and bonds, and increased new investments.
The outstanding value of foreign securities held by local institutional investors stood at $396.77 billion as of March end, up $9.02 billion from three months earlier, according to the data from the Bank of Korea (BOK), Yonhap reported
The on-quarter increase is attributed to an increase in the value of foreign stocks and bonds held by them and increased investments.
Local institutions' investment in foreign stocks rose $8.68 billion on-quarter in the first quarter, while the value of their foreign bond holdings rose $2.8 billion, the data showed.
Source: IANS
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