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Finance
Korean retail investors pay 10 percent premium for SK Hynix ADR
Korean retail investors sharply increased purchases of U.S. stocks during a domestic market correction, with July net buying at about $4.5 billion, CNBC reported. SK Hynix ADRs drew about $840 million, ranking second in Koreans’ U.S. securities net buying, even though the shares are available at home. Arcadian Asset Management’s Owen Lamont said the ADR traded about 10 percent above the Korean shares and called the buying abnormal.
Finance
U.S. stock net buying by South Korean retail investors tops 5 trillion won amid domestic market pullback
South Korean retail investors\' net buying of U.S. stocks has topped 5 trillion won so far this month as a pullback in the domestic market persists. Net buying from July 1 to 27 reached $3.59 billion, with purchases concentrated in a leveraged U.S. semiconductor ETF and SK Hynix ADRs. The monthly total is about 5.5 times last month’s net buying, while net buying of a leveraged South Korea ETF declined.
Finance
Korean stock volatility drives retail investors back to U.S. markets
Repeated sharp swings in South Korea\'s stock market are pushing retail money back into U.S. equities. Credit-financed stock balances and unsettled trading receivables have fallen, while investor deposits remain above 100 trillion won. Retail investors turned from heavy buying of SK Hynix and Samsung Electronics to net selling in late July. Net buying of U.S. shares surged, led by the 3-times leveraged semiconductor ETF SOXL. A lower won-dollar exchange rate also reduced costs.
