ChainCatcher news, according to Yonhap News Agency, South Korean individual investors have recently reduced their investments in large U.S. tech stocks and increased their purchases of cryptocurrency-related stocks. A report released by the International Financial Center on August 11 indicated that with the passage of the U.S. (Genius Act), investments related to stablecoins have increased.
From January to April this year, South Korean individual investors net bought an average 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 net bought $490 million again, but the buying momentum weakened. The report also noted that since June, the South Korean stock market has outperformed overseas markets such as the U.S., and the won has shown strength, leading individual investors to flow back into the domestic stock market. The share of cryptocurrency-related stocks among the top 50 net bought stocks by individual investors increased from 8.5% in January to 36.5% in June and 31.4% in July.