S.Korean institutional investments in foreign securities hit 7-yr high

The value of foreign securities held by South Korean institutional investors has jumped to the highest level in more than seven years.

The Bank of Korea said today (Wednesday) that the outstanding value of foreign securities held by local financial and other institutions stood at 105.7 billion dollars as of the end of March.

The value is the highest level recorded since the 116.5 billion dollars posted at the end of 2007. It also showed a 7.8 billion dollar rise from three months before.

The central bank attributed the rise in the foreign securities assets held by the local investors to major asset managers and insurers beefing up their buying power as well as a buoyant mood in overseas stock markets.