Overseas media have highlighted the bullish Korean stock market, to which many foreign investors are flocking. Traders on Dec. 9 work at a dealing room of Hana Bank in central Seoul. (Yonhap News)

By Kim Minji

International media have highlighted Korea's bullish stock market, to which foreign investors are flocking.

Bloomberg on Dec. 12 said, "For investors seeking to ride the global reflation story in 2021, South Korea appears to be one of the hottest places in Asia," in its article titled "Asia's Most Sought-After Emerging Market Is About to Get Hotter."

"Global funds are buying shares in the nation's tech-heavy stock market at the fastest pace in four years this quarter, helping to make the Korea Composite Stock Price Index (KOSPI) Asia's best-performing major benchmark in 2020," the report said.

"At USD 58 billion, their purchases of local bonds this year are on course for a record. And the (KRW) is tussling with the (Chinese) yuan for the region's No. 1 spot."

Bloomberg quoted David Chao, a Hong Kong-based global market strategist at Invesco, as saying, "I continue to be constructive on the Korean economy and more so on tech stocks."

The British daily Financial Times, in the Dec. 11 article titled "Korea's booming stock market lures foreign investors," said, "Foreign investors are flocking to Korea's red hot stock market, one of the world's best-performing this year, as signs of a strong economic rebound from COVID-19 fuel demand."

"The country's benchmark KOSPI Composite has gained about 90 per cent since the height of coronavirus-induced market turmoil in March," the report said. "Global funds have bought a net USD 5 billion of Korean shares since the start of November, with purchases of the country's blue-chip shares hitting the fastest pace in four years."

kimmj7725@korea.kr