Korean individual investors have recently reduced their investments in large US tech stocks and turned to cryptocurrency related stocks

According to Golden Finance, individual investors in South Korea have recently reduced their investments in large US tech stocks and increased their purchases of cryptocurrency related stocks. In a report released on August 11th, the International Financial Center pointed out that with the passage of the Genius Act in the United States, investments in stablecoins have increased. From January to April this year, individual investors in South Korea bought an average of $3.8 billion worth of overseas stocks per month, but in May and June, they sold a net of $1.29 billion and $390 million, respectively. In July, individual investors once again net bought $490 million, but the buying momentum weakened. The report also pointed out that since June, the South Korean stock market has performed better than overseas markets such as the United States, and the Korean won has also shown strength, leading to individual investors returning to the domestic stock market. The proportion of cryptocurrency related stocks in the top 50 net buying stocks for individual investors increased from 8.5% in January to 36.5% in June and 31.4% in July.