ID :
41771
Tue, 01/20/2009 - 21:10
Auther :
Shortlink :
https://www.oananews.org//node/41771
The shortlink copeid
S. Korean investment in foreign securities plunges in 2008
SEOUL, Jan. 20 (Yonhap) -- South Korea's investment in foreign securities
nose-dived in 2008 due to bearish stock markets worldwide and a volatile local
currency, a securities deposit agency said Tuesday.
Local individual and corporate investors purchased US$4.78 billion worth of
overseas stocks and bonds last year, down 41 percent from the previous year,
according to the Korea Securities Depository (KSD).
Koreans' investment in foreign securities fell annually for the first time since
it was allowed in 1994.
"Local investors were spooked by stock market slumps across the world and
fluctuations in the won's value against the U.S. dollar," the KSD said.
Investment in Chinese securities tumbled 72 percent on-year to $94 million with
that in Japanese bonds and securities diving 70 percent to $536 million.
Investment in U.S. securities, however, managed to climb 13 percent to $1.5
billion, it said.
pbr@yna.co.kr
(END)
nose-dived in 2008 due to bearish stock markets worldwide and a volatile local
currency, a securities deposit agency said Tuesday.
Local individual and corporate investors purchased US$4.78 billion worth of
overseas stocks and bonds last year, down 41 percent from the previous year,
according to the Korea Securities Depository (KSD).
Koreans' investment in foreign securities fell annually for the first time since
it was allowed in 1994.
"Local investors were spooked by stock market slumps across the world and
fluctuations in the won's value against the U.S. dollar," the KSD said.
Investment in Chinese securities tumbled 72 percent on-year to $94 million with
that in Japanese bonds and securities diving 70 percent to $536 million.
Investment in U.S. securities, however, managed to climb 13 percent to $1.5
billion, it said.
pbr@yna.co.kr
(END)
