S. Korean investments in foreign securities dips 32 pct in Q3

SEOUL, Nov. 27 (Yonhap) -- South Korean investments in overseas securities dropped 32 percent in the third quarter of the year from three months earlier as local players suffered losses and some insurers reduced their exposures, the central bank said Thursday.
Investments in foreign stocks, bonds and so-called Korean Paper reached an
outstanding US$72.37 billion as of the end of September, compared with $95.2
billion a three months earlier, according to the Bank of Korea (BOK).
Korean Paper refers to foreign-currency-denominated securities issued by South
Korean companies abroad.
Outstanding investments in foreign securities peaked at $111.61 billion at the
end of last year, but declined $17.97 billion and $3.46 billion, respectively, in
the first and the second quarter, it said.
Investment in foreign stocks fell to 1.4 percent on-quarter to an outstanding
$59.4 billion as of end-June as emerging markets suffered losses. Investment in
bonds was down 5.2 percent to $23 billion, it added.
Local asset managers' outstanding investment in foreign securities fell to $19.37
billion at the end of the third quarter of the year, from $58.51 billion the
previous quarter, while that for local insurers slipped $21 billion from $23.46
billion over the cited period, the central bank said.
sam@yna.co.kr
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