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(Bloomberg, Dec/2/2024) Korean Stocks Lure Biggest Daily Foreign Inflow Since August

South Korea’s stock benchmark attracted its biggest foreign inflow in more than three months as strong US economic data bode well for growth in the export-oriented country.

Global funds bought 539.6 billion won ($385 million) worth of Kospi Index members on a net basis on Tuesday, the most since Aug. 16. That boosted the measure 1.9% higher after two days of declines.

Investors found comfort in improvement to the US ISM manufacturing new orders gauge, according to Seo Sang-young, a strategist at Mirae Asset Securities Co. The measure, which moved into expansion territory for the first time in eight months, serves as an indicator for the country’s exports.