[Asia Economy Reporter Minji Lee] So-called Seohak Ants, who focus on investing in overseas stocks, have purchased more than 3 trillion won worth of Tesla shares again this year following last year.
According to the securities information system SaveRo on the 31st, the most purchased stock by domestic overseas stock investors this year was Tesla, totaling 3.3967 trillion won. This is a similar scale to Hyundai Mobis, which ranks third in net stock purchases by domestic individual investors. Next, investors bought 920.3 billion won worth of the ProShares UltraPro QQQ ETF, which tracks the Nasdaq index three times, followed by Apple (901.3 billion won), Alphabet (839.3 billion won), Nvidia (781.7 billion won), Meta Platforms (formerly Facebook, 698.2 billion won), Invesco QQQ Trust ETF (689.7 billion won), Microsoft (659.9 billion won), and SPDR S&P 500 ETF (628.3 billion won). Investors increased their investment in Tesla significantly by net purchasing 1.3064 trillion won just this month. Alongside Tesla, Lucid and Rivian, considered the three major electric vehicle companies, were purchased at 352.7 billion won and 325.3 billion won, respectively.
Domestic investors demonstrated their love for Tesla by purchasing over 3 trillion won worth of Tesla shares again this year following last year. Over the past year, domestic investors accumulated stocks in the order of Tesla (3.5705 trillion won), Apple (2.2595 trillion won), Amazon (991 billion won), Nvidia (770.4 billion won), and Microsoft (528.2 billion won). Although concerns over overvaluation caused the stock price to underperform, and Tesla temporarily lost the top spot in net purchases to other stocks for six months since May this year, it reclaimed the number one position last month. In response, Tesla’s stock price has risen 46.67% this year. This outperformed Samsung Electronics (-5.66%), which was the most net purchased stock by individuals in the domestic stock market with over 30 trillion won.
Positive outlooks on the global electric vehicle market have driven Tesla’s stock price up. Recently, market forecasts suggest that by 2030, the penetration rate of electric vehicles in the automobile market could reach up to 50-60% (previous estimates were 30%). There are also opinions that the stock price is still undervalued. Yeonju Park, a researcher at Mirae Asset Securities, said, “As mobile phones transitioned to smartphones, profits and valuations expanded; similarly, the automobile industry is expected to see profit and valuation growth as it shifts to software-centric areas such as autonomous driving,” adding, “Tesla, leading the transformation of the automobile industry, will maintain its competitive advantage.”
Meanwhile, domestic investors net purchased 26.6193 trillion won (22.37859 billion USD) worth of overseas stocks this year. This is an 11% increase compared to last year’s net purchase amount of 23.4737 trillion won (19.73412 billion USD).
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