S. Korean households' surplus fund falls in Q1 on stock investment

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SEOUL, July 8 (Xinhua) -- South Korean households' surplus fund fell in the first quarter owing to stock investment with borrowed money, central bank data showed Thursday.

The net financial fund, which gauges the value of financial assets minus financial liabilities among households and nonprofit organizations, stood at 44 trillion won (38.5 billion U.S. dollars) in the January-March quarter, down from 65.9 trillion won (57.6 billion U.S. dollars) tallied a year earlier, according to the Bank of Korea.

The financial assets, including deposit and stock investment, increased to 96.1 trillion won in the first quarter from 81.1 trillion won a year earlier.

The financial liabilities gained faster from 15.2 trillion won to 52.1 trillion won in the cited quarter as households rushed to purchase stocks with borrowed money.

Investment in domestic stocks and stock-related funds amounted to 39 trillion won during the first quarter, logging the highest since relevant data began to be compiled in 2009.

The portion of stock holdings to the total financial assets came in at 20.3 percent in the first quarter, surpassing 20 percent for the first time.

The percentage of deposits to the total declined to 41.0 percent in the first quarter from 44.2 percent a year earlier. (1 U.S. dollar equals 1,145 won) Enditem

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