Korea’s abroad monetary property reached a contemporary excessive within the third quarter, pushed by elevated inventory investments and funding returns, central financial institution information confirmed Wednesday.
The nation’s exterior monetary property stood at $2.79 trillion as of end-September, up $115.8 billion from three months earlier, based on preliminary information from the Financial institution of Korea (BOK).
It marks the biggest quantity ever, although the tempo of its progress slowed from the second quarter’s enhance of $165.1 billion.
Of exterior monetary property, residents’ securities investments rose by $89 billion on-quarter to succeed in a brand new excessive of $1.21 trillion as of end-September.
Direct funding additionally hit the highest-ever quantity of $813.5 billion, rising $8.7 billion from three months earlier.
As the rise within the exterior monetary property outpaced that of exterior monetary liabilities, the nation’s internet worldwide funding place rose by $25.8 billion on-quarter to succeed in $1.06 trillion.
It marked the primary enhance following three consecutive quarters of decline, the info confirmed.
“Abroad investments elevated amid a powerful inventory market and expectations of U.S. rate of interest cuts, whereas reserve property additionally rose resulting from larger funding returns,” BOK official Im In-hyuk advised a press briefing.
“Home inventory positive factors boosted non-resident funding in Korean securities, however the weak Korean received and different elements have restricted the expansion of exterior monetary liabilities,” he added.
