South Korea's mom-and-pop investors are defying last week's global financial markets rout by pouring even more funds into U.S. stocks, a years-long trend...
SEOUL - South Korea 's mom-and-pop investors are defying last week's global financial markets rout by pouring even more funds into U.S. stocks, a years-long trend that analysts and investors bet will continue due to the depressed value proposition at home. South Korea n retailers have been scooping up Nvidia, Tesla Inc. and Apple shares this year fuelled in part by the worldwide AI-frenzy, a move that comes despite government efforts to boost the domestic stock market .
Ants like Noh bought $9 billion worth of U.S. stocks between January-July this year, after selling $2.8 billion in 2023 - the first sell-off after three years of a U.S. stock investment boom. They sold a record-high 16.3 trillion won worth of domestic stocks in the same period, driving the KOSPI down 1.3% so far this year when the S&P 500 and Nikkei jumped 13% and 5%, respectively.
"While in Japan, the mere directive from the stock exchange to make improvements was apparently sufficient to effect change, it is doubtful whether government persuasion alone will be sufficient in Korea, at least for Chaebol groups," analysts at Mondrian Investment Partners said in a note. In early July, Elon Musk called South Koreans "smart people" in an X post, after data showed Tesla was the top U.S. stock held by South Koreans. Their holdings stood at $13.
One in 5 children – or 466 million – live in areas that experience at least double the number of extremely hot days every year compared to just six decades ago, according to a new UNICEF analysis. In Canada, children are more frequently exposed to extremely hot temperatures as heatwave frequency has doubled compared to 60 years ago.Two Pomeranian puppies have died of canine parvovirus following the surrender and subsequent seizure of 32 dogs from a Vernon-area breeder.The B.C.
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