Korean investors splurge $1.24 bn on US tech, crypto in holiday risk frenzy
South Korean investors spent their weeklong Chuseok holiday from Oct. 3 to 9 chasing risk rather than rest, splurging $1.24 billion on US tech and crypto assets while local markets were closed, according to data from the Korea Securities Depository on Sunday.
Their purchases centered on high-octane bets tied to US tech and crypto-linked assets, underscoring the country’s enduring appetite for volatility.
The most popular pick was the Direxion Daily Tesla Bull 2X ETF, which doubles exposure to Tesla Inc.’s share price, with net purchases reaching about $151 million.
Investors also snapped up roughly $105 million worth of shares in Iris Energy Ltd., an Australian Bitcoin mining company, along with $100 million in Meta…
