Yonhap News: Since June, the South Korean stock market has performed well, with investors shifting to cryptocurrency-related stocks

According to reports from Yonhap News, South Korean individual investors have recently reduced their investments in major U.S. tech stocks, turning instead to increase purchases of cryptocurrency-related stocks. A report released by the International Financial Center on August 11 noted 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 purchased 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 pointed out that since June, the South Korean stock market has outperformed overseas markets such as the U.S., and the Korean won has shown strength, leading individual investors to return to the domestic stock market. The share of cryptocurrency-related stocks among the top 50 net purchased stocks by individual investors rose from 8.5% in January to 36.5% in June and 31.4% in July.