Global Funds Gorge on Korea Chip Stocks, Putting Kospi Atop Asia
- Kospi’s 15% jump this quarter fueled by $4.6 billion inflow
- Foreigners have been piling into Korean chip, battery shares
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Foreign investors have poured about $4.6 billion into stocks on South Korea’s Kospi since the end of September, making it the best-performing Asian equity benchmark so far in the last quarter of the year.
An 18% surge in Samsung Electronics Co. has been the biggest driver in Kospi’s 15% jump so far this quarter, with the chip sector getting a further lift Friday as softer-than-expected US inflation data eased rate-hike concerns. Persistent tensions between Washington and Beijing have made Korean tech shares an attractive alternative to Greater China rivals, while the won’s rebound against the dollar has also helped.