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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.

Finance

Mirae Asset\'s two U.S. benchmark index ETFs top 30 trillion won in combined net assets

Mirae Asset Global Investments said on Tuesday that the combined net assets of its TIGER U.S. S&P 500 ETF and TIGER U.S. Nasdaq 100 ETF exceeded 30 trillion won. Korea Exchange data showed their combined net assets stood at 30.99 trillion won at Monday’s close, accounting for more than half of total net assets in U.S. benchmark index-tracking ETFs listed in South Korea. Retail net buying in the two funds totalled 5.34 trillion won this year through Monday.

Industry

SpaceX early inclusion in Nasdaq 100 hits index funds, but experts say no need to avoid index investing

SpaceX’s early inclusion in the Nasdaq 100 led index funds tracking the benchmark to buy the stock automatically, but it is not seen as a structural risk that warrants avoiding index investing, an assessment said. The key issue is how index funds are managed and how stocks enter the index. Burton Malkiel warned SpaceX may be overvalued but said its inclusion is not a reason to shun index funds. Investors are watching governance concerns and changes in free float after lockups expire.