Currency dealers work at the dealing room of Hana Bank in Seoul on Feb. 3, 2021. (Yonhap)
SEOUL, Feb. 28 (Korea Bizwire) — South Korean retail investors’ stock frenzy appears to be going strong with their net stock buying nearing 100 trillion won since January last year, industry data showed Sunday.
According to the data, individual investors scooped up a net 99.24 trillion won (US$87.92 billion) since January 2020, with the monthly average reaching 7 trillion won.
In contrast, foreign investors sold 32.7 trillion won while institutional investors sold 61.63 trillion won during the cited period.
In January this year alone, they purchased a record high 22.24 trillion won worth of stocks on the main bourse.
Retail investors’ top picks were Samsung Electronics, Hyundai Motor and Kia Motors, Naver, SK hynix and Kakao.
Market watchers said their buying may not stop given ample liquidity and their increased penchant for investment that generates quick and high returns.
“Retail investors’ buying may not let up as they appear to have room for further buying with ample cash,” said Jeong Myeong-ji, an analyst at Samsung Securities.
(Yonhap)
