The sluggish South Korean stock market has prompted retail investors to switch to the US stock market, with net purchases exceeding KRW 5 trillion this month

According to the Seoul Economic Daily, the South Korean stock market is sluggish, and domestic investors in South Korea are turning to the US stock market, with net purchases exceeding 5 trillion Korean won this month. According to Seibro, a securities information portal of the Korean Securities Depository and Clearing Corporation, from the 1st to the 27th of this month, domestic investors in South Korea net bought a total of $3589.99 million in US stocks, which is 5.5 times the net buying amount for the entire month of June. As of the 23rd, the net purchase amount was $253.026 million, followed by an increase of $105.973 million in the following two trading days. Retail funds are concentrated in semiconductor and technology stocks, with the Direxion Daily Semiconductor Bull 3X ETF having the highest net buying amount this month, with a net buying amount of $1759.19 million. The net purchase amount of SK Hynix ADR as of the 27th has risen to $812.38 million.