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Investor enthusiasm for artificial intelligence has driven the largest quarterly inflow of foreign capital into South Korea’s stock market, with overseas investors buying a net $12.2 billion in local stocks in the first three months.
They favor chipmakers in the global artificial intelligence supply chain, such as Samsung Electronics and SK Hynix. The proportion of foreign ownership rose to 34.42%, the highest level since the second quarter of 2021.
Analysts at Goldman Sachs Group pointed out that despite the recent rise in South Korea’s stock market, foreign holdings are still small and there may be more capital inflows in the future.
The Korean stock market continues to benefit from the recovery of the artificial intelligence and storage industries, and SK Hynix predicts that the AI memory market will continue to grow until 2025.
(Source: Bloomberg Image source: freepik)
