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Foreigners snap up over 6 tln won net of Korean bonds in March

All Headlines 06:00 April 12, 2010

SEOUL, April 12 (Yonhap) -- Foreign investors snapped up over 6 trillion won (US$5.38 billion) worth of South Korean bonds more than they sold in March amid the economic recovery and the won's ascent against the U.S. dollar, the financial watchdog said Monday.

Foreign investors purchased a net 6.26 trillion won worth of local bonds listed on the bourse in March, making their bond holdings reach 61.8 trillion won as of the end of last month, according to the Financial Supervisory Service (FSS).

Foreign investors increased their purchase of local bonds this year on expectations that the local currency would rise against the greenback and optimism that the Korean economy is picking up. Their net buying of Seoul bonds came in at 5.32 trillion won and 5.75 trillion won in January and February, respectively, the FSS added.

In March, Thai investors purchased the largest amount of local bonds with 3.07 trillion won, followed by Americans with 763.3 billion won and Luxemburgian investors with 708 billion won.

In the stock market, foreign investors' buying spree continued as well, the watchdog added.

In March, offshore investors bought 4.5 trillion won worth of local stocks listed on the bourse more than they sold as overseas risks such as a eurozone debt crisis subdued and optimism about corporate earnings lingered, it noted.

Their holding of Seoul shares reached 300.8 trillion won as of the end of March, accounting for 30.3 percent out of market capitalization of the main and tech-heavy KOSDAQ markets.

sooyeon@yna.co.kr
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