S. Koreans' investment in overseas stocks surges: data
SEOUL, Oct. 22 (Yonhap) -- South Korean investors' investment in overseas securities has almost doubled over the past five years as they searched for higher returns in overseas markets after becoming disgruntled with a bearish run on the local stock market, data showed on Wednesday.
According to data compiled by the Korea Securities Depositary Corp., local investors' direct investment in overseas stocks reached US$5.72 billion through Monday this year, a sharp increase from $3.08 billion tallied in 2009.
The comparable figures were $2.96 billion in 2012 and $5.63 billion in 2013, they showed.
"Local investors are moving into the markets that deliver high returns," said Shin Hwan-jong, an analyst at NH Woori Investment & Securities.
Stock markets in advanced economies such as the U.S. and Japan had zoomed higher in the past few years on the back of monetary easing, although they recently suffered corrections.
South Koreans have poured the largest amount of money into U.S. stocks so far this year at $3.79 billion, followed by $1.47 billion in Asian stocks and $455 million in African and European stocks, the data showed.
The country's key stock index, the KOSPI, has been boxed in a tight range since 2011, swinging within the 1,700-point to 2,000-point level.
sam@yna.co.kr
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