Retail demand surged to about 5.5 times June’s full-month total as weakness in the domestic stock market pushed buying toward semiconductor and technology names.
South Korean investors were net buyers of $3.58999 billion in U.S. stocks from July 1 to 27, a sharp acceleration to about 5.5 times June’s full-month total as continued weakness in the domestic stock market drove money overseas. Retail demand centered on semiconductor and technology exposures, with the Direxion Daily Semiconductor Bull 3X ETF (leveraged semiconductor fund) drawing $1.75919 billion and SK Hynix ADR (U.S.-traded depositary receipt) attracting $812.38 million, the Seoul Economic Daily reported.