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| Gettyimagesbank |
Korean institutions' investment in foreign securities increased 1.3 percent in the first quarter of the year on the back of an advance in the value of overseas stocks and increased bond purchases, central bank data showed Thursday.
The outstanding value of foreign securities held by local institutional investors stood at $370.13 billion as of end-March, up $14.84 billion from three months earlier, according to the data from the Bank of Korea (BOK).
The on-quarter gain is attributed to a rise in the value of foreign stocks held by them and increased purchases of foreign bonds on anticipation of softening monetary policies around the globe.
Foreign securities include stocks, bonds and "Korean paper," which refers to foreign currency-denominated securities issued by the Korean government, banks and companies in overseas markets.
Local institutions' investment in foreign stocks increased $5.06 billion on-quarter, while the value of their foreign bond holdings contracted $4.34 billion.
Their investment in Korean paper rose $1.37 billion over the cited period, according to the data. (Yonhap)
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