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S Korea's investments in foreign securities fall 0.3% in Q1

05-30-2011 10:39 BJT

SEOUL, May 30 (Xinhua) -- Foreign securities invested by South Korea's financial institutions fell 0.3 percent in the first quarter from three months earlier as local asset managers retrieved stock fund investments amid declining share prices in emerging markets, the central bank said Monday.

Foreign-currency-denominated securities held by domestic financial institutions reached an outstanding 69.7 billion dollars as of the end of March, down from 69.9 billion dollars the previous quarter, the Bank of Korea (BOK) said in a statement.

Investments in overseas stocks contracted 1 billion dollars on- quarter to 38.9 billion dollars in the first quarter, but foreign bonds and so-called Korean Paper invested by local institutions increased by 400 million dollars each over the cited period, according to the BOK.

Korean Paper refers to foreign-currency-denominated securities sold overseas by the South Korean government, financial institutions or companies.

The decline in overseas stock investments was mainly attributable to asset managers retrieving their money invested in foreign stock-typed funds amid falling share prices in emerging nations like China and Brazil, the BOK said.

Increased purchases and investment profits contributed to rising investments in foreign bonds and Korean Paper, the BOK added.

Editor:Yang Jie |Source: Xinhua

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