Search results for SOXL
Fintech
RIA deduction rate cut to 80 percent amid muted return of Korean retail investors
The tax deduction rate on capital gains from overseas stocks in return-to-domestic-market accounts (RIA) fell to 80 percent this month from 100 percent, and will drop to 50 percent from August, complicating efforts to draw overseas equity money back to South Korea. Data showed limited domestic inflows through RIA and a May shift to net selling of U.S. stocks, while U.S. stock holdings by Korean investors still rose. Industry voices call for measures beyond tax breaks to boost the appeal of local markets.
Finance
KakaoPay Securities\' RIA accounts top 50,000 as profit-taking funds shift to South Korean semiconductors
KakaoPay Securities said its returning-to-Korean-stocks account, known as RIA, surpassed 50,000 openings as of May 6, about 45 days after launch. The company said funds from profit-taking in overseas AI and semiconductor stocks such as Nvidia and Tesla moved into South Korean bellwethers including Samsung Electronics and SK Hynix. It said AI and semiconductor themes accounted for the largest share of top holdings in both overseas and domestic stock portfolios.
Finance
Kiwoom Securities\' RIA accounts surpass 20,000; Nvidia most deposited stock
Kiwoom Securities said on Wednesday its RIA accounts, designed for investors returning funds to the domestic market, have surpassed 20,000. Nvidia was the most deposited overseas stock, accounting for more than 20 percent of total deposited balances. Tesla, SOXL, Palantir Technologies and Alphabet followed. The account offers capital gains tax reductions if proceeds from overseas stock sales are reinvested long term in domestic assets.
