06.05.2011 - S.Korea KIC applies for China QFII licence
Korea Investment Corp (KIC), South Korea's $35 billion sovereign wealth fund, has applied for a licence that will allow it to invest in China's bond and stock markets as it seeks to diversify its investments from dollar-based assets, a local newspaper reported on Thursday. The Chosun Ilbo daily report comes as South Korea prepares to allocate part of its $307 billion in foreign exchange reserves to yuan-denominated assets.............................................Full Article: Source
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