South korean institutions' investment in foreign securities rose sharply to a fresh record high in the second quarter:une, up $46.72 billion from three months earlier, according to the data from the Bank of Korea (BOK).

According to Yonhap News Agency, the figure topped the previous record of $507.83 billion set in the fourth quarter of last year. Foreign securities include stocks, bonds, and "Korean paper," which refers to foreign currency-denominated securities issued by the South Korean government, banks, or companies in overseas markets.

By type, local institutions' investment in foreign stocks rose $45.76 billion on-quarter to $334.27 billion, while the value of their foreign bond holdings remained unchanged at $181.85 billion. The BOK said valuations of their stock holdings increased thanks to rallies in stock markets in major economies in the three-month period.

The Nasdaq Composite Index jumped 21.4 percent and the S and P 500 rose 14.9 percent over the cited period, while the Japanese Nikkei 225 soared 37.2 percent.