POST TIME: 9 June, 2018 00:00 00 AM
Foreign investment in S Korean bonds hit 15-month high

Foreign investment in S Korean bonds hit 15-month high

Foreign investment in South Korean bonds hit the highest in 15 months last month amid eased geopolitical risks on the Korean Peninsula, central bank data showed yesterday, reports Xinhua from Seoul.

Foreigners bought local bonds worth 3.05 billion U.S. dollars in May, the biggest since February last year, according to the Bank of Korea (BOK).

It came amid emerging d’tente on the peninsula after recent inter-Korean summits on April 27 and May 26 between South Korean President Moon Jae-in and top leader of the Democratic People’s Republic of Korea (DPRK) Kim Jong Un.

Kim and U.S. President Donald Trump were scheduled to hold the first-ever DPRK-U.S. summit in Singapore on June 12.

Foreigners, however, sold local stocks worth 350 million dollars in May to lock in profits.

Despite the easing geopolitical risks, the South Korean fell versus the U.S. dollar last month on the strong U.S. dollar trend. The dollar index rose 1.9 percent against its major peers.