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S.Korea's institutional investment in foreign securities falls in Q2

SEOUL
2022-09-01 13:27

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SEOUL, Sept. 1 (Xinhua) -- South Korea's institutional investment in foreign securities, including stocks and bonds, fell in the second quarter due to higher bond yields and lower stock prices, central bank data showed Thursday.

Outstanding investment in foreign securities by local financial institutions came to 373.62 billion U.S. dollars at the end of June, down 5.8 percent from three months earlier, according to the Bank of Korea.

It marked the fastest quarterly reduction in nearly 11 years since the third quarter of 2011.

The institutional holdings of foreign bonds tumbled by 10.62 billion dollars during the April-June quarter owing to interest rate hikes in major economies.

The ownership of foreign stocks declined by 9.85 billion dollars during the quarter as key stock indices in the United States and Europe slipped amid worry about the global economic downturn.

The institutional holdings of Korean Paper, which refers to the foreign currency-denominated bonds issued overseas by local institutions and companies, retreated by 2.36 billion dollars in the cited quarter.
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