Global equity funds posted a net inflow into South Korea for the 24th straight week over the past week amid their preference for emerging markets insulated from falling oil prices, industry data showed Monday.

Four international funds investing in South Korea allocated a combined US$250 million for the local stock market in the week to Wednesday, marking the 24th consecutive week of net inflow, according to the data by Mirae Asset Daewoo Securities Co. and global fund tracker Emerging Portfolio Fund Research.

The equity funds, including US investment fund Global Emerging Markets, have been chalking up net inflows into South Korea since the second week of January after recording an outflow the prior week.

Funds investing in Asian emerging markets attracted a total of $2.2 billion during the cited week, with South Korea receiving the largest at $700 million. Taiwan and India also attracted $400 million each.

"Recently, global equity funds appear to be favoring investment in Asia," said Lee Jin-ho, a researcher at Mirae Asset Daewoo Securities. "It is seen as their efforts to avoid investment in emerging markets closely related to crude prices following the recent fall in international oil costs."

In contrast, stock funds investing in advanced economies registered a net outflow of $1.7 billion in the cited week in the wake of a US rate increase on June 14.

The four global funds have recorded a net inflow of $126.2 billion so far this year, nearly four times the $31.6 billion posted for all of 2016, according to the data.

South Korea's stock market has recently been on a roll amid rosy forecasts of corporate earnings. The benchmark Korea Composite Stock Price Index surged 7 percent in May from a month earlier, the highest among bourses in major advanced and emerging markets. (Yonhap)