SEOUL, July 15 (Yonhap) -- Direct investment by South Koreans in foreign stocks soared to an all-time high level in the first half of 2013 as local investors sought after high-yield investment destinations overseas, data showed Monday.
The amount of direct overseas stock investment by local investors reached US$11.8 billion in the six-month period, up 25.26 percent from a year earlier, according to the data by the Korea Securities Depository (KSD).
It also marked a 32.76 percent increase from 8.9 billion won tallied in the second half of 2012. The figure marked the highest six-month level since the KSD started compiling corresponding data in 1994.
Market watchers said the increase came as the growth of local stock market lagged far behind those of advanced countries, inducing South Korean investors to scoop up overseas shares.
The country's benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,863.32 points at end-June, nosediving 8.2 percent from 2,031.10 points tallied at the first trading session of the year.
South Korean investors held $2.3 billion worth of U.S. shares over the January-June period, posting a near three-fold growth from $885.9 million from a year earlier.
Their equity investment in the eurozone and Japanese stock markets soared 8.5 percent and 31.8 percent, respectively, over the cited period to reach $8.4 billion and $276.9 million.
Local investors also increased their bets on Hong Kong and Chinese shares, which advanced 39.5 percent and 114 percent, respectively, to reach $568 million and $5.78 million.
The combined amount of South Koreans' investment in foreign equities reached $18.3 billion to an all-time annual high level in 2012, up 55.6 percent from a year earlier.