Despite Tesla's Sharp Drop, SeoHak Gaemi Unfazed and Bought More... Overseas Trading Volume Consumed Half Last Year

Tesla rebounds 20% in one day... Strong-hearted investment by Seohak Gaemi pays off
Despite volatility, love for US tech stocks... Overseas trading volume hits record high

[Asia Economy Reporter Lee Seon-ae] Despite Tesla's stock price plummeting, domestic investors' affection for Tesla has not waned. On the contrary, they took advantage of the low prices as a buying opportunity and plunged into a shopping frenzy. In response to this love, Tesla soared 19.6% in just one day, reigniting hopes for 'CheonTesla (Tesla stock price at $1000)'. Although the Nasdaq index, centered on tech stocks, has shown extreme volatility?falling sharply and then rebounding?Korean investors' affection for U.S. tech stocks remains unchanged. Due to the sustained investment enthusiasm, the trading volume of overseas stocks has already reached half of last year's total.

According to the Korea Securities Depository on the 10th, Tesla ranked first in net purchases of overseas stocks by domestic investors from the beginning of this month through the 9th, with net purchases amounting to $187.4 million. Despite Tesla's stock price continuously declining from the 1st to the 8th (local time), except for the 1st, investors diligently bought at low prices without hesitation. Tesla's stock price had raised expectations for CheonTesla by reaching $883 on January 26, but it closed at $563 on the 8th, down 5.84% from the previous trading day, delivering a shock. This represents a 36% drop from the previous high. However, the 'strong-hearted investment' of Korean investors was rewarded. On the 9th (local time), Tesla surged nearly 20%, almost recovering the 21% drop over the past month. The investment by Korean investors, who consistently favored buying Tesla every day except for one day on the 4th this month, shone through.

Tesla is the top net purchased overseas stock so far this year through the 9th, totaling $1.43098 billion. Apple ranks second with $698.32 million, and Palantir third with $391.79 million. Although the U.S. stock market is experiencing high volatility due to concerns over interest rate hikes, Korean investors' love for tech stocks remains unchanged. Based on holdings, U.S. tech stocks dominate as well. As of the 9th, the top holdings by value were Tesla ($7.37493 billion), Apple ($3.22657 billion), Amazon ($1.51502 billion), Alphabet ($988.85 million), and Microsoft ($974.02 million).

Fueled by this affection for U.S. tech stocks, the trading volume of overseas stocks boasts an all-time high. The total trading volume (purchase settlement amount + sale settlement amount) of overseas stocks traded by domestic investors reached $98.635 billion. This is 49.7% of last year's overseas stock trading volume ($198.322 billion). Compared to the 2019 trading volume ($40.985 billion), it is more than double. The purchase amount was $53.972 billion, exceeding the sale amount of $44.662 billion.

Meanwhile, among the top 20 net purchased overseas stocks (from January 1 to March 9), most are U.S. stocks (18), but a Japanese stock has newly entered the list, attracting attention. Z Holdings from Japan newly entered at 15th place. Z Holdings is a company launched on the 1st by the merger of Line, a subsidiary of Naver, and Yahoo Japan, the largest search portal in Japan. Domestic investors net purchased as much as $77.35 billion from the 1st to the 9th of this month. The reason for buying Z Holdings is the expectation of merger synergy. Yahoo Japan is Japan's largest search portal, and Line is Japan's number one national messenger. It is akin to Naver and Kakao merging in Korea. Jaemin Ahn, a researcher at NH Investment & Securities, stated, "Z Holdings has become a powerful platform as the number one portal and number one mobile messenger in Japan," adding, "The synergy between the two companies is growing, competition is decreasing, and earnings growth is expected."

This content was produced with the assistance of AI translation services.