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South Korean Retail Investors Net Buy Over $2.8 Billion in Chinese AI Assets in First Half of 2023

AirdropBlackHole
On July 4, data from the Korean Securities Depository's information portal revealed that in the first half of 2023, South Korean investors net purchased approximately $2.819 billion in Chinese assets through both individual stocks and ETFs, with A-shares accounting for about $678 million, a year-on-year increase of 130.55%. Semiconductor equipment company North Huachuang topped the A-share purchase list with approximately $33.94 million, followed closely by AI chip leader Cambricon with $27.28 million, and CATL ranked third. South Korean individual investors are focusing on stocks viewed as the 'Chinese version of Nvidia', driven by expectations of profit improvement and a rising belief in China's self-research capabilities in AI semiconductors. In the Hong Kong stock market, SMIC emerged as the most favored Chinese asset among South Korean investors with $85.46 million, while AI company MiniMax, listed in January, received about $66.65 million, ranking second, followed by Alibaba in third place. ETFs have become an important investment channel, with 10 Chinese asset ETFs collectively gaining approximately $209 million in net purchases in the first half of the year, led by the Global X China Semiconductor ETF with about $60.83 million. Standard Chartered Bank analysts stated that the attitude of overseas funds towards Chinese assets has undergone a 'fundamental change', shifting from a geopolitical discount perspective to a re-evaluation of the value of the AI industry.
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