Amazon and Micron Top Korean Retail Investors' Charts

Korean retail investors have been buying up individual technology stocks in large volumes this month. According to SEIBro, the securities information portal of the Korea Securities Depository, Korean retail investors net-purchased $151.49 million (215 billion won) worth of Amazon from July 3rd to July 6th. Net purchases of Micron and SanDisk also reached $151.02 million (214 billion won) and $147.62 million (209.2 billion won), respectively.

This stands in contrast to last month, when the Direxion Daily Semiconductor Bull 3X Shares ETF, known as 'SOXL', and SK hynix ADRs were the top two choices among retail investors. However, this month Amazon, Micron, and SanDisk have taken over, with SOXL slipping to 50th place.

The renewed accumulation of top tech stocks by market cap is attributed to a sharp rebound in share prices, as Big Tech firms' cloud businesses collectively delivered earnings that beat market expectations. Major semiconductor-related stocks posted double-digit gains last month, including Amazon (15.32%), Micron (18.36%), SanDisk (25.99%), AMD (13.00%), and Intel (11.30%).

Investor deposits stood at 104.0712 trillion won as of July 6th, little changed from the previous week's 104.6584 trillion won. Deposits briefly rose to 110.4071 trillion won on July 4th due to a temporary inflow and outflow of large funds from K&S I&C.