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Korean investments in overseas securities hit record high in Q3
By YonhapPublished : Nov. 28, 2018 - 13:11
The amount of foreign securities held by major South Korean institutional investors rose to a record high in the third quarter of this year on growing demand for overseas bonds, central bank data showed Wednesday.
The value of foreign stocks and bonds owned by institutions came to US$261.2 billion as of the end of September, up 3.7 percent, or $9.3 billion, from three months earlier, according to the data compiled by the Bank of Korea.
The latest outstanding balance of foreign securities exceeded the previous record of $253.2 billion set in the first quarter of 2018.
Foreign securities here include overseas stocks and bonds as well as Korean papers -- foreign currency-denominated securities issued by local government, banks and companies in overseas markets.
The amount of foreign stocks held by South Korean institutions totaled $83.1 billion as of the end of September, up $3.5 billion from three months earlier, while their foreign bond holdings rose $5.6 billion to $136.9 billion over the cited period.
Investment in Korean papers by local institutions edged up $200 million to $41.2 billion over the cited period.
By investor, asset management companies increased their investments in foreign securities by $5.7 billion to $143.9 billion over the three-month period, while investments by insurers rose $2.3 million to $80.1 billion, Foreign exchange banks held $22.7 billion worth of foreign securities, up $260 million on-quarter, and holdings of local securities firms climbed $1.1 billion to $14.5 billion as of end-September. (Yonhap)
