Yonhap News Agency: South Korean Stock Market Performs Well Since June, Investors Turn to Cryptocurrency-Related Stocks

According to Yonhap News Agency, South Korean individual investors have recently reduced their investments in large US tech stocks and increased purchases of cryptocurrency-related stocks. An international financial center report released on August 11 noted an increase in stablecoin-related investments following the passage of the US 'Genius Act'. From January to April this year, South Korean individual investors averaged a net purchase of $3.8 billion in overseas stocks per month, but in May and June, they turned to net sales of $1.29 billion and $390 million respectively. In July, individual investors again net purchased $490 million, but the buying momentum weakened. The report also pointed out that since June, the South Korean stock market has outperformed overseas markets like the US, and the Korean won has shown strength, leading to a return of individual investors to the domestic stock market. The proportion of cryptocurrency-related stocks in the top 50 net purchases by individual investors increased from 8.5% in January to 36.5% in June and 31.4% in July.

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