Korea`s direct financing gains 27.4 pct in Nov.

SEOUL, Dec. 16 (Yonhap) -- South Korean companies' direct financing gained 27.4 percent in November from a month earlier mainly because the issuance of bonds climbed, the financial watchdog said Tuesday.
Local companies raised 8.59 trillion won (US$6.26 billion) by floating stocks and
bonds in November, compared with 6.74 trillion won the previous month, according
to the Financial Supervisory Service (FSS).
The issuance of shares declined 21.4 percent month-on-month to 243 billion won
last month, the FSS said. The country's key stock index fell 3.3 percent in
November.
Meanwhile, companies raised 3.52 trillion won by selling debt last month, up 56
percent from a month earlier, the watchdog said. Banks issued bonds worth 4.83
trillion won last month, up 15.5 percent from the previous month.
The issuance of asset-backed securities jumped 941.2 percent to 1.56 trillion
won, the FSS said. Asset-backed securities are bonds or notes backed by assets
consisting of debt obligations such as car loans, home equity loans, credit card
receivables and student loans.
sooyeon@yna.co.kr
(END)