AI Craze Drives Record Quarterly Foreign Flows to Korean Stocks
Apr 01, 2024 - bloomberg.com
Artificial intelligence (AI) investments led to the largest quarterly foreign inflow into South Korean shares, contributing to a global rally in AI-related stocks. Overseas investors purchased a net $12.2 billion of local stocks in Q1 2024, a figure second only to Japan in Asia, as per Bloomberg-compiled data.
The most favored stocks were those of chipmakers active in the global AI supply chain. Samsung Electronics Co. attracted $4.1 billion, while SK Hynix Inc. drew $1.3 billion.
Key takeaways:
Bets on artificial intelligence led to the largest quarterly foreign inflow to South Korean shares.
Overseas investors bought a net $12.2 billion of local stocks in the first three months of 2024, a total that trails only Japan in Asia.
The favorite stocks among these investors were the chipmakers active in the global AI supply chain.
Companies like Samsung Electronics Co. and SK Hynix Inc. drew $4.1 billion and $1.3 billion respectively.
