3 days ago
South Korean Investors Shift $7 Billion Into U.S. Stocks
South Korean individual investors bought many U.S. stocks during July and August.
Altogether, their U.S. purchases were worth about $7 billion.
They also continued buying stocks in South Korea.
The change happened after South Korea’s main stock index fell from a record level.
U.S. stock indexes stayed relatively strong during the same period.
Many investors chose a fund designed to magnify semiconductor-stock movements.
They also bought shares linked to SK hynix, Alphabet and SpaceX.
However, they sold more Nvidia, Palantir Technologies and Micron Technology shares than they bought.
South Korean individuals bought a net $7.04 billion in U.S. stocks from July 1 through August 27.
They also purchased 8.75 trillion won in KOSPI stocks and 1.57 trillion won in KOSDAQ shares.
U.S. purchases reached $4.64 billion in July and $2.4 billion during the first 27 days of August.
The buying shift followed a correction in the KOSPI after its June 22 record close of 9,114.55 points.
SOXL was the top purchase, while Nvidia, Palantir Technologies and Micron Technology were among the stocks sold.
- Who
- South Korean individual investors.
- What
- They purchased a net $7.04 billion worth of U.S. stocks over roughly two months.
- Where
- In U.S. and South Korean equity markets.
- When
- From July 1 through August 27, with figures reported through Thursday.
- Why
- The buying shift followed volatility and a correction in the KOSPI, while U.S. stocks remained relatively strong.
Key facts
- U.S. stock purchases
- $7.04 billion net from July 1 through August 27
- First-half U.S. purchases
- $9.87 billion net
- July U.S. purchases
- $4.64 billion net
- August purchases
- $2.4 billion net during the first 27 days
- Top purchase
- Direxion Daily Semiconductor Bull 3X Shares, with $3 billion in net purchases
- KOSPI movement
- The index reached a record closing high of 9,114.55 points on June 22, then fell to the 7,000-point level in early July
- Major U.S. purchases sold
- Investors sold $748.9 million of Nvidia, $615.4 million of Palantir Technologies and $353.93 million of Micron Technology
Quotes
Shin Seung-jin
Researcher at Samsung Securities
“Increasing volatility in the KOSPI and losses in semiconductor shares encourage investment in the U.S.”
thehansindia.com
Sources
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