Analysts expect a large -scale foreign net inflow trend to continue until the second half of the year.
It was announced at the beginning of the year that a series of incentive measures were announced to replicate the "myth" of the Japanese stock market and continued to crack down on foreign investment.EssenceAhmedabad Stock
Looking forward to the future, analysts predict that in view of the macroeconomic conditions in South Korea, support measures continue to take effect, especially the dividend brought by the development of artificial intelligence (AI), such a large -scale net inflow trend will continue until the second half of the year.
In the stock trading ETF that tracks the stock trading of a specific national MSCI index, the net inflow of funds in Korea ETF has jumped second, second only to India.In contrast, the Japanese ETF, which has been buying a market before, has a trend of capital outflow.
According to ETF.COM data, as of May 26, Ishares MSCI SOUUTH KOREA ETF (EWY) has reached US $ 1.03 billion (about 1.41 trillion won) in the past three months.three times.Among the 24,37 stock ETFs listed in the U.S. stock market, the netflow of ETF in the Korean stock market ranked 31st, ranking second in the median ETF in the MSCI index that tracks specific national MSCI indexs.The first place in net inflows is India ETF.Over the past three months, Ishares MSCI INDIA ETF (INDA) has recorded a net inflow of $ 1.25 billion.In the past year, the net inflow of funds has reached 2.32 billion US dollars.
At the same time, funds are revoked Japan ETF, which attracts a large number of foreign capital due to the "Value UP" dividend.Ishares MSCI JAPAN ETF (EWJ) has achieved a net inflow of $ 2.9 billion in funds in the past year, but the net inflow of the past three months has only been $ 70.2 million.In the past month, EWJ has recorded a net outflow of $ 473 million in funds.Even in the environment of the US dollar, as of May 26, the Kopsi index of South Korea’s benchmark stock index has risen by nearly 12%from the January low.
Representatives of a large asset management company bluntly stated that MSCI ETF, a specific country, is a representative passive product of investing in a single country. Even retail investors in overseas markets can easily participate in global investment.The large amount of foreign investment in this product shows the confidence of global investors in South Korea.Global investors are not only optimistic about certain specific stocks, but the entire stock market in South Korea.
This is related to the policy support of the Korean government.On May 28, the Korean version of the "Enterprise Value Promotion Plan" was officially implemented.The plan is a comprehensive policy launched by the South Korean Financial Services Commission (FSC) in February this year, which aims to boost the Korean stock market and increase the value of Korean enterprises.The Korean Securities Futures Exchange (KRX) finally determined the specific guidance policy of the "Enterprise Value Program" on May 26.Based on this policy, starting from May 28, South Korean listed companies have been encouraged to disclose related plans on their websites and South Korean exchanges. The financial indicators that need to be disclosed include the return rate of net assets or a percentage of profit account value.Specific strategies to enhance shareholders value.Goldman Sachs previously stated that the corporate value improvement plan helps alleviate the long -term "discount" problem of the Korean stock market.
In addition, the South Korean government and the central bank have described the naked and empty behavior of foreign capital this year as "rampant", and in the past few months, we have continued to take measures to combat naked sale.The more stringent censorship, it has also played a role in the Korean stock market, which attracts the inflow of funds.
On May 6, local time, the South Korean financial regulatory agency issued a notice saying that 9 investment banks have found illegal short -to -short transactions worth 21.12 billion won (about 1.13 billion yuan). Two of the 9 investment banks have faced the financial authoritiesThe punishment was transferred to the prosecutor for further investigation and was transferred to the prosecutor for suspected violation of the national capital market law.At the same time, the agency will continue to investigate five other investment banks.In general, 14 investment banks surveyed by South Korean authorities have accounted for 90%of overseas companies’ short -selling transactions in South Korea.On May 22, according to sources from the South Korean government, South Korea did not have a plan to lift the short selling ban in June, and plans to maintain the current short -selling ban until the appropriate system is implemented.
It is expected that it will continue to attract foreign capital during the year
In addition to the flow of Korean stock ETF products in the US market, according to data compiled by Yuanda Securities, foreign capital has also achieved net purchase of Korean stocks for four consecutive months.Buy monthly net.Analysts predict that as the outline of the Korean corporate value improvement plan is increasingly clearer, coupled with the rebound of semiconductor exports to drive the domestic economic recovery, the net inflow trend of Korean stocks will continue until the second half of the year.
Albert Kwok, managing director of Jennison Associates, a subsidiary of Poardon Global Investment Management (PGIM), told the First Financial Reporter that the government has been supporting the "Corporate Value Program" for the First Financial reporter.At present, it has basically not announced quantitative incentives, but the proposed dividend tax rate may be a potential catalyst.
The latest research report of Korean securities company Kiwoom Securties also wrote: In view of the favorable macroeconomic environment, the profit growth momentum of domestic export companies, and the expectations of foreign investment on the appreciation of the Korean won, it is expected that the net purchase of the Korean stock ETF ETF in the future will be expected toThe third quarter continued.In the context of the continuous recovery of global demand, South Korea’s economy exceeded expected to recover. In the first quarter, GDP (GDP) increased by 3.4%year -on -year. The profitability of major export companies such as semiconductors and automobiles has improved significantly.Based on this, the Bank of Korea has raised the actual GDP growth forecast of South Korea this year from 2.10%to 2.50%.This also injects a psychedelic agent again for investor confidence.
In addition, the US dollar has recently fallen from the 1400 range that the South Korean exchange rate touched last month to 1350 ~ 360 won, and it also created favorable conditions for foreign investment to buy Korean stocks.The appreciation of the Korean won has reduced the risk of exchange losses of foreign capital, and the market currently estimates that the Fed will cut interest rates in the second half of the year. This is good news for emerging market stock markets including South Korea.Korean stock market.
At the sector and individual stocks, Korean technology stocks are undoubtedly the favorite of investors.Guo Jinxi told the First Financial: "We are even more encouraged to the Korean IT industry. The industry is rejuvenating due to the surge in AI -related expenditures. There are many unique technology companies in South KoreaVaranasi Investment. We believe that these companies may have the Alpha effect, which brings runningWinning the overshoot of the broader market "" "" "" "
At the recently held SOHN annual Hong Kong Investment Leadership Conference, 14 global hedge fund investment managers also agreed that AI’s increasing popularity will bring opportunities to Korean technology stocks.Tybourne Capital’s investment manager Eashwar Krishman said Samsung Electronics’ stock price may be more than a few years in the next three years.He believes that the promotion of AI will increase the demand for Samsung electronic memory chips. When the mobile phone has more advanced functions, it will need to be greater than the current mobile phone.The integration of AI functions on devices such as smartphones and computers will cause the demand for DRAM memory to grow rapidly.CloudalPha asset management is optimistic about modern Korean electricity, because the development of AI will also increase the demand for power equipment, and modern electrical stock prices are lower than those of global peers, and there will definitely be room for replenishment."The stock has risen more than twice this year. And we believe that its target price is 500,000 won, and there is still 76%of the current 283,000 won." He said.
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