SOUTH Korean retail investors are stampeding into Chinese stocks in record numbers, ploughing hundreds of millions of dollars into a tech sector rush far removed from punishing taxes and regulations on investment at home. Read more at The Business Times.
Among them is Kim, a 40-year-old Seoul chef with more than 500 million won invested in Chinese stocks. Like others, Mr Kim, who declined to given his first name, is betting on Beijing's push for tech self-sufficiency to counter US trade sanctions and bans.
The United States remains a top destination for investors like Mr Kim, with Korean investments there a net US$2.27 billion in July, followed by US$475 million in Hong Kong, out of a total US$3.19 billion of overseas stock buying. Overseas stocks make up about 80 per cent of Mr Kim's equity holdings, with 90 per cent of that chunk allotted to China and the rest to US equities. Mr Kim plans to park all his equity investments overseas, and is particularly bullish on the Chinese economy and mainland companies with high growth potential.
ZTE was also high on Korean investment list, along with Inspur Electronic Information Technology, Will Semiconductor and Luxshare Precision Industry.
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