South Korea Dec L-money growth at over 5-yr low

SEOUL: Annual growth in South Korea's broadest money supply measure slowed in December to its lowest in more than five years due to a fall in foreign portfolio investment and lending, the Bank of Korea said on Thursday.

The L-money supply gauge, which includes cash, all types of deposits at financial institutions and all money market instruments issued, rose 7.6 percent in December, its smallest annual gain since September 2005.

Separately, monthly growth in bank lending to households in January turned negative for the first time since February 2010, down a net 1.0 trillion won from a month earlier, the central bank said in a statement.