SEOUL, 29th November, 2024 (WAM) -- 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 Friday.
Yonhap News Agency quoted the Bank of Korea (BOK) as saying that the outstanding value of foreign securities held by local institutional investors stood at US$427.41 billion as of end-September, up from $405.45 billion logged three months earlier.
Foreign securities include stocks, bonds and "Korean paper," which refers to foreign currency-denominated securities issued by the 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.