SEOUL, Nov. 29 (Xinhua) -- South Korea's institutional investment in foreign securities grew for the fourth successive quarter in the July-September period due to stock market booms in major economies, central bank data showed Friday.

Outstanding investment in foreign securities, including foreign stocks and bonds owned by local financial institutions, came to 427.41 billion U.S. dollars at the end of September, up 5.4 percent from three months earlier, according to the Bank of Korea.

It continued to mount since the fourth quarter of 2023 on the back of stock market booms and lower interest rates in major economies.

The institutional holdings of foreign stocks expanded 12.58 billion dollars during the July-September quarter, while the ownership of foreign bonds increased by 7.85 billion dollars.

The MSCI index for developed markets advanced 6.0 percent in the third quarter, while yield on the 10-year U.S. government bonds declined to 3.78 percent at the end of September from 4.40 percent three months earlier.

The holdings of Korean Paper, which refers to the foreign currency-denominated bonds issued overseas by domestic institutions and companies, swelled 1.53 billion dollars in the cited quarter.

Foreign securities owned by asset managers, insurers, securities firms and foreign exchange banks all gained ground in the quarter. Enditem

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