Investors pumped their money into stock funds last month on expectations that the local stock market would rebound down the road after getting off to a weak start in 2014, data showed Monday.

Stock funds took in 625 billion won ($583 million) last month, reversing from an outflow of 38.2 billion won the previous month, according to the data compiled by fund-tracking firm ZEROIN.

“Investors seem to have poured their money into stock funds on hopes the local stock market will recover after a brief slide,” said Hwang Yoon-ah, a researcher at ZEROIN.

The KOSPI, the country’s key stock index, shed 4.69 percent last month, weighed down by weaker-than-expected corporate earnings and a weaker Japanese currency, which could hurt local exporters.

The KOSPI dipped to as low as 1,910.34 points on Jan. 27 after rising as high as 1,970.42 points on Jan. 22. The index closed at 1,941.25 points on Jan. 29.

The data showed bond funds also drew net inflows last month as investors parked more money in safer assets amid lingering uncertainties.

Foreign bond funds drew a net 372 billion won last month, and mixed bond funds also attracted a net 275 billion won, according to the data. But investors took out a net 162 billion won from local bond funds last month, they showed. (Yonhap)