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Foreigners' holdings of S. Korean bonds hit another high in July

All Headlines 14:57 August 07, 2018

SEOUL, Aug. 7 (Yonhap) -- Holdings of South Korean bonds by foreign investors hit an all-time high last month, data showed Tuesday, amid persistent concerns over global trade friction among major economies.

The offshore investors owned local bonds worth 112.44 trillion won (US$99.99 billion) in July, up 1.5 trillion won from the previous month, according to the data by the Korea Financial Investment Association.

The record usurps the previous high record figure tallied in June, the association noted.

The foreign investors were on a net buying mode in the local bond market last month by scooping up 3.2 trillion won worth of bonds, though the amount was around half that tallied in the previous month, according to the data.

"Despite the strengthening of the U.S. dollar, trade disputes involving the United States, China and the European Union seem to prompt foreigners to go for relatively safer assets," the KOFIA said in a statement.

Total bond issuance dropped last month to 55.7 trillion won, down 100 billion won on-month, according to the data.

Foreigners' holdings of S. Korean bonds hit another high in July - 1

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