Retail investors placed more than 1.19 million orders of 100 million won or more in the KOSPI market last month, a record high. Individual investment in Korean stocks by high-net-worth retail traders is surging as the benchmark index continues its rally to all-time highs.
According to the Korea Exchange (KRX) on Monday, retail investors placed 1,193,158 orders of at least 100 million won in the KOSPI market last month. The figure marks the highest monthly total on record, surpassing the previous record of 1,153,301 orders set in January 2021. The new record, set after about five years and three months, represents a 16.8% increase from 1,021,744 orders in March. Analysts attribute the surge to buoyant investor sentiment as the KOSPI jumped roughly 30% last month on strong earnings from major semiconductor stocks.
Large orders have continued to rise this month as well. As of the 7th, retail investors' orders of 100 million won or more averaged 83,067 per day, a 53% jump from the daily average of 54,234 last month. With the KOSPI maintaining its upward trend, breaking the 7,000 mark for the first time ever, the number of orders of 100 million won or more placed by so-called "big-hand" retail investors managing large sums is likely to keep climbing.
Retail investors' large orders of 100 million won or more were concentrated in major semiconductor stocks. Samsung Electronics (005930.KS) drew the heaviest concentration of large retail orders last month at 204,025. SK hynix (000660.KS) ranked second with 142,668 orders of 100 million won or more. Both companies are seen as having benefited from announcing record quarterly earnings last month. Daewoo E&C followed with 56,143 orders, Samsung SDI with 26,155, Hyundai Motor (005380.KS) with 24,475, and Taihan Cable & Solution with 24,400.
The KOSPI has climbed about 78% this year, the highest gain among major global stock indexes. The index has maintained its solid upward trajectory despite Middle East risks, which had been cited as the biggest variable for Korean equities. After breaking the 7,000 mark for the first time on the 6th of this month, the KOSPI closed at 7,498.00 on the 8th, approaching a close above the 7,500 level.
