Sluggish Korean Stock Market Drives Retail Investors to US Stocks, Net Buying Amount Exceeds 5 Trillion Korean Won This Month
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Sluggish Korean Stock Market Drives Retail Investors to US Stocks, Net Buying Amount Exceeds 5 Trillion Korean Won This Month
According to South Korea's "Seoul Economic Daily", as the sluggish trend in the Korean stock market continues, domestic investors in South Korea are turning to US stocks again, with net purchases of US stocks exceeding 5 trillion won this month. According to data from the securities information portal Seibro of the Korea Securities Depository, during the period from the 1st to the 27th of this month, domestic investors in South Korea net purchased a total of $3.58999 billion worth of US stocks, approximately 5.5 times the net purchase amount for the entire month of June. As of the 23rd, the net purchase amount was only $2.53026 billion, but it increased by $1.05973 billion in the following two trading days. Retail funds were mainly concentrated in the semiconductor and technology stock sectors. The product with the highest net purchases this month is the Direxion Daily Semiconductor Bull 3X ETF, which tracks the Philadelphia Semiconductor Index, with a net purchase amount reaching $1.75919 billion. SK Hynix ADRs also continue to be sought after, with net purchases rising to $812.38 million as of the 27th. (Jin10)
Navigating Web3 tides with focused insightsTechFlow news, July 28, according to South Korea's "Seoul Economic Daily", as the sluggish performance of the South Korean stock market continues, South Korean domestic investors are turning to US stocks again, with net purchases of US stocks this month exceeding 5 trillion Korean won. According to data from Seibro, the securities information portal of the Korea Securities Depository, during the period from the 1st to the 27th of this month, the total net purchases of US stocks by South Korean domestic investors reached $3.5899 billion, approximately 5.5 times the net purchase amount for the entire month of June.
As of the 23rd, the net purchase amount was only $2.53026 billion, but increased by $1.05973 billion in the following two trading days. Retail funds were mainly concentrated in the semiconductor and technology stock sectors. The product with the highest net purchases this month is the Direxion Daily Semiconductor Bull 3X ETF tracking the Philadelphia Semiconductor Index, with a net purchase amount reaching $1.75919 billion. SK Hynix ADRs also continued to be sought after, and as of the 27th, the net purchase amount had risen to $812.38 million. (Jin10)
