[THE INVESTOR] Koreans’ overseas stock investment almost tripled on-year in the first quarter of the year amid a weak domestic equity market, data showed on March 19.

According to the Korea Securities Depository, the amount of overseas stock transactions settled by the agency came to US$9.35 billion in the year to Masrch 16, with the number of settlements reaching more than 216,000.

The value of settled transactions rose about three times from the same period of last year, with the number of cases nearly doubling.

The United States was the top destination for Korean overseas investors, with the sum of settlements reaching US$5.92 billion. 

Hong Kong came next with US$1.64 billion, followed by Japan with US$736 million and China with US$456 million. Koreans’ stock investments in the rest of the world stood at US$604 million.

Japan posted the biggest on-year increase, with the amount almost quadrupling. The US placed next, with an increase rate of 228 percent, trailed by Hong Kong with 222 percent and China with 163 percent.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)