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

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 pointed out 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 had an average net purchase 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 Korean won has shown strength, leading individual investors to return to the domestic stock market. The proportion of cryptocurrency-related stocks among the top 50 net purchased stocks by individual investors increased from 8.5% in January to 36.5% in June and 31.4% in July.