The value of local stocks held by foreign investors has surpassed 500 trillion won, or about 439 billion U.S. dollars, for the first time in the history of the country’s stock market.

The Financial Supervisory Service(FSS) announced Monday that foreigners held a total of 501-point-96 trillion won worth of local shares as of the end of January.

It accounts for 32 percent of the total market capitalization of stocks listed on the local bourse, increasing from 28-point-one percent from a year earlier.

The FSS said foreigners began to snap up large volumes of local stocks in the second half of last year, partly driven by solid performances by market bellwether Samsung Electronics.

U.S. nationals net bought one-point-four trillion won worth of local shares in January, while investors from other Asian countries net purchased 400 billion won worth of stocks in the month.

Overall, Americans held 206-point-five trillion won worth of local stocks as of the end of last month, or 41-point-one percent of all foreign-owned shares.

Europeans followed with 142-point-three trillion won, while Asians came in third at 64-point-one trillion won worth of stocks.

Those from the Middle East came in fourth with 25-point-one trillion won.