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Foreigners turn buyers of S.Korea bonds in July, purchase stocks again
August 7, 2016 / 3:04 AM / a year ago

Foreigners turn buyers of S.Korea bonds in July, purchase stocks again

SEOUL, Aug 7 (Reuters) - Offshore investors were net buyers both of South Korean stocks and bonds in July, data from the country’s financial watchdog showed on Sunday, after they lowered their treasury holdings in the previous month.

Foreigners boosted their holdings of South Korean bonds by a net 588 billion won ($530.59 million) after cutting them by nearly 3 trillion won in June in the wake of Britain’s vote to exit the European Union, according to data from the Financial Supervisory Service (FSS).

Investment in treasury bonds by foreigners increased by 1.7 trillion won in July while monetary stabilisation bonds saw outflows of 1.1 trillion won, the FSS said.

As of July, foreigners held 72.5 trillion won worth of South Korea’s treasury bonds, which was 74.9 percent of the country’s treasury debt issued.

The FSS data showed offshore investors last month snapped up a net 4.1 trillion won of South Korean stocks, the largest monthly purchase since March. Foreigners were also net buyers in June.

Analysts said investors flocked to risky assets on the prospect the U.S. would push back another interest rate hike, while positive second-quarter earning hopes also boosted appetite for South Korean shares.

The FSS does not provide commentary on the data it releases.

$1 = 1,108.2000 won Reporting by Christine Kim; Editing by Richard Borsuk

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