Record $8 Billion of Foreign Funds Flock to Korea on Reform Bets [BNN Bloomberg (Canada)]
KB Financial Group Inc (KB)
US:NYSE Investor Relations:
kbfg.com/eng/ir/main/ir_main.jsp
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Source: BNN Bloomberg
Foreign funds scooped up 10.2 trillion won ($7.7 billion) of Kospi shares so far this year, the most for the corresponding period since exchange data going back to 1999, according to Bloomberg calculations. The benchmark, which started the year on the backfoot, saw its fortunes reverse as the government touted Japan-like reforms to boost equity valuations. While it's not the first time that Korea has sought to resolve the market's perennial discount versus Asia peers, investors are betting the “top-down” approach by President Yoon Suk Yeol will lead to more tangible results. The Financial Services Commission will announce the details of its corporate reform plan called “Value Up” program on Monday. “Much of the foreign buying appears to be from multi-strategy hedge funds but I heard a lot of money also came from long-only funds,” said Kang DaeKwun, chief investment officer at Life Asset Management Inc. in Seoul. “Some of those hedge funds piled into Korean stocks with an animal i
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Sec Filings
- 5/16/24 - Form 6-K
- 5/10/24 - Form 6-K
- 4/29/24 - Form 6-K
- KB's page on the SEC website