South Korean retail investors turn to U.S. stocks, with Tesla becoming the biggest winner
Here is the English translation, with <> tags preserved:
<PANews> On January 2, according to a report by the Financial Times of the UK, South Korean retail investors are flocking to the US stock market, betting that US stocks will continue to rise during former US President Trump's second term, while feeling frustrated with the poor performance of the South Korean stock market over the years. According to data from the Korea Securities Depository, as of the end of 2024, South Korean investors held a record-high $112.1 billion worth of US stocks, up 65% year-on-year. This contrasts sharply with their net sale of 54 trillion won (about $36 billion) worth of KOSPI index stocks that same year. Tesla is the most popular overseas stock held by South Korean investors, with individual investors in South Korea holding a total of $24.5 billion worth of Tesla stock as of last month, followed by Nvidia ($12.1 billion), Apple ($4.9 billion) and Microsoft ($3.2 billion). Namuh Rhee, head of the Korea Corporate Governance Forum, said, "This shift highlights their disappointment with the local stock market due to poor shareholder returns." "Unless something dramatic happens, this trend is likely to continue."</PANews>
