Seoul, Nov 29, : South Korea’s institutional investments in foreign securities reached a record high during the third quarter, according to data from the central bank. According to the Bank of Korea, the outstanding foreign securities held by local institutional investors (asset managers, brokerages, and insurers) reached a new high of $385.59 trillion at the end of September.
It was up 1.4% from the previous record of $380.14 trillion, which was set three months ago, Xinhua news agency reported.
Asset managers, foreign exchange banks, and brokerages owned foreign securities at a higher level than they did in the July-September quarter.However, the holdings of insurers fell by $620 million.
The outstanding institutional foreign stock investment increased by $5.08 trillion during the quarter, while foreign bond investment increased by $820 million.
The institution holdings of Korean Paper, which are foreign currency-denominated bonds that are sold abroad by local companies or institutions, fell $450 million to $36.94 trillion in the cited quarter.
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