Korean investment in overseas securities up 41%
[THE INVESTOR] The amount of foreign securities held by major Korean institutions rose 41.4 percent in the second quarter from a year earlier, central bank data showed on Aug. 30.
As of the end of June, the value of foreign securities held by institutional investors came to US$210.1 billion, compared with US$148.52 billion from the same period last year, according to data compiled by the Bank of Korea.
Quarter-on-quarter, the value of foreign securities held by institutional investors rose 8.9 percent, it said.
The amount of foreign bonds and stocks held by the institutions came to US$109.38 billion and US$58.12 billion, respectively, in the second quarter, up from US$98.48 billion and US$52.51 billion from a quarter earlier, respectively.
Foreign securities include overseas stocks and bonds as well as Korean papers and foreign currency-denominated securities issued by the local government, banks and companies in overseas markets.
By Alex Lee and newswires (firstname.lastname@example.org)