NEW YORK (AP) _ Investors poured more money into overseas financial markets in the first quarter of 1994 even though the global investment climate deteriorated, an industry group reported Monday.
U.S. investors bought a net $17.8 billion in foreign stocks _ after subtracting sales _ in the first quarter of 1994, the Securities Industry Association said. That was down from the record $20.9 billion in the final 1993 quarter but up sharply from the year-ago total of $8.4 billion.
U.S. purchases of foreign bonds, meanwhile, were virtually unchanged from the previous quarter's total of $11 billion. But they were down from $19.3 billion in the first quarter of 1993.
More than half of U.S net purchases of foreign stocks and bonds were of Japanese securities, the group said.
Many financial markets around the world have been buffeted by price volatility this year, a reflection of the uncertain global economic climate, the dollar's plunge against foreign currencies and other influences. …