In May, Seohak Ants' Favorite Was Tesla... Net Purchase of 1.3 Trillion Won

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] Last month, the top overseas stock purchased by domestic investors was the American electric vehicle company Tesla. Although Tesla's stock price fell by more than 16% last month, Seohak Gaemi (Korean investors investing in U.S. stocks) bought over 1 trillion won worth of shares.

According to the Korea Securities Depository on the 5th, domestic investors net purchased approximately $1.035 billion (about 1.29 trillion won) worth of Tesla shares last month.

This is the highest figure since December last year, when net purchases amounted to $1.057 billion (1.32 trillion won). The total holdings of Tesla by domestic investors also increased significantly, reaching $13.31 billion (about 16.65 trillion won) as of the 2nd.

Tesla's stock price has been falling continuously due to CEO Elon Musk's criticism of the Democratic Party, sexual harassment controversies, and the Twitter acquisition, which investors saw as a buying opportunity at a low price. Tesla's stock price dropped 16.02% during May. Compared to the beginning of the year, it fell by 36.8%.

In addition to Tesla, Seohak Gaemi mainly purchased U.S. big tech stocks and exchange-traded funds (ETFs) last month. They net bought $428 million (about 530 billion won) of the leveraged ETF 'Proshares Ultrapro QQQ ETF' (TQQQ), which tracks three times the Nasdaq 100 index returns, and $152 million (about 190 billion won) of Apple shares.

The 'Direxion Daily Semiconductor Bull 3X Shares ETF' (SOXL), which tracks the Philadelphia Semiconductor Index threefold, also ranked high with net purchases of $69 million (about 90 billion won), along with $53 million (about 70 billion won) in IonQ, a U.S. quantum computing startup.

However, as market volatility is expected to remain high for the time being, securities firms recommend cautious investment in U.S. growth stocks. DB Financial Investment researcher Seungwoo Yoo advised, "If the stock market rebounds, growth stocks will also see some price recovery. The funds obtained by realizing profits at the recovered prices of growth stocks should be allocated to areas that can enjoy high returns."

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