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Seohak ants, who invest in foreign stocks in Korea, are accelerating their response to market conditions. Investors who used to approach overseas stocks only as long-term investments actively adjust the weight of each stock and do not hesitate to realize profits.
According to the Korea Securities Depository on the 4th, domestic investors net sold Apple (APPL) worth $189.97 million (about 217.3 billion won) last month. Apple was the stock that Korean investors net sold the most last month.
In the meantime, domestic investors have tended to buy foreign stocks when they rise. However, recently, a trend of responding to individual stocks has been detected. Experts see it as the effect of increased understanding of overseas stock markets. In fact, Apple rose 7.59% in the month of July. It is interpreted that the stock price, which had been flat at $120-130, rose on expectations of new products such as the iPhone 12, and was actively taking profit.
The second most sold stock after Apple was the Mirae Asset Global X China Electric Vehicle ETF listed on the Hong Kong market, which net sold $68.46 million (78.3 billion won). This ETF rose 40.76% in the second quarter alone and an additional 16.12% in July. This is the result of actively taking profit as Chinese EV-related stocks soared and pointed out that the valuation burden (share price level relative to earnings) was raised.
‘Direction Daily Semiconductor Bull 3X (SOXL)’, the third most net-sold stock by domestic investors in July, can also be interpreted for the same reason. This product tracks the Philadelphia Semiconductor Index three times. As the stock price, which had been flat throughout the second quarter, showed a rebound in July, domestic investors net sold $44.76 million (about 51.2 billion won).
During the same period, Tesla, an overseas stock held the most by domestic investors, also recorded a net sale of $29.69 million. It was the second consecutive month of net selling following June. The securities industry sees this phenomenon as an example of Seohak ants’ investment diversification. An official from a securities industry said, “Unlike the past when we bought and waited for large-cap stocks unconditionally, the stocks we invest in are becoming more diverse and the response speed is getting faster.” influence,” he explained.
Reporter Go Yoon-sang
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