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Customer Deposits for Stock Investments Surge After Rate Cut

Written: 2016-06-12 13:08:35Updated: 2016-06-12 13:30:52

Customer Deposits for Stock Investments Surge After Rate Cut

Customer deposits for stock investments sharply increased after the Bank of Korea cut the nation’s key interest rate to a record low one-point-25 percent on Thursday.
 
According to the Korea Financial Investment Association on Sunday, customer deposits at securities firms stood at 23-point-six trillion won as of Thursday, up four-point-seven percent or over one trillion won from the previous day.
 
The figure marks the fourth largest since last year.
 
Customer deposits hit a record high on July 20, 2015 with 24-point-seven trillion won. They posted the second largest on July 17 last year with 24-point-three trillion won and the third largest on April 27 this year with 24-point-one trillion won.

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