Foreign investors have deepened their retreat from South Korean stocks, even as the market has kept climbing to new highs on local inflows and the artificial intelligence boom. Foreigners have sold $11.5 billion of Korean stocks so far in May, on a net basis, according to data compiled by Bloomberg. That has them on track for their third-biggest monthly exit on record, after unprecedented withdraw...
Foreign investors have deepened their retreat from South Korean stocks, even as the market has kept climbing to new highs on local inflows and the artificial intelligence boom. Foreigners have sold $11.5 billion of Korean stocks so far in May, on a net basis, according to data compiled by Bloomberg. That has them on track for their third-biggest monthly exit on record, after unprecedented withdrawals in February and March. Local retail investors, who largely missed last year’s rally, have stepped in to help extend gains in the Kospi . The benchmark index is up 87% this year, beating all global peers tracked by Bloomberg. Korean institutions have been buyers as well. “Foreigners can be quite fickle, especially with fast money like hedge funds, but domestic investors can be a more stable anchor now,” said Vey-Sern Ling , a managing director at Union Bancaire Privee. Bumper results from memory chipmakers Samsung Electronics Co. and SK Hynix Inc. have been a key draw for locals, he added. Read more: World’s Biggest Stock Rally Ignites Speculative Mania in Korea So far this year, overseas funds have pulled nearly $48 billion from Korean stocks, on course for a record annual withdrawal. The outlflow is more than double their sales of equities in India, a market far less directly tied to the AI trade. The foreign exodus from Seoul’s market comes as investors debate whether memory has truly entered a “ supercycle ” or will revert to its typical boom-and-bust pattern. Valuations are not much of a concern, with the Kospi trading at about 8.5 times forward earnings estimates while the S&P 500 Index is at 21 times.
同和药业公告，公司于近日收到美国食品药品监督管理局（FDA）签发的卡格列净原料药注册批准函 DMF First Adequate Letter（FA Letter）。卡格列净是一种钠-葡萄糖协同转运蛋白2（SGLT2）抑制剂，临床主要用于治疗2型糖尿病。公司卡格列净产品获得美国 FDA 签发的 FA Letter，表明 FDA 已完成对公司卡格列净原料药 DMF 文件的技术审评，可满足关联制剂客户...
同和药业公告，公司于近日收到美国食品药品监督管理局（FDA）签发的卡格列净原料药注册批准函 DMF First Adequate Letter（FA Letter）。卡格列净是一种钠-葡萄糖协同转运蛋白2（SGLT2）抑制剂，临床主要用于治疗2型糖尿病。公司卡格列净产品获得美国 FDA 签发的 FA Letter，表明 FDA 已完成对公司卡格列净原料药 DMF 文件的技术审评，可满足关联制剂客户的 ANDA（Abbrevitive New Drug Application，简略新药申请）申报要求。
Japan’s 30-year government bond auction Thursday saw slightly stronger demand than the 12-month average as higher yields underpinned buying. The bid-to-cover ratio rose to 3.49, compared with 3.12 at the previous sale, and a 12-month average of 3.37. Bond futures held small losses after the result. Longer-term Japanese yields have climbed to multi-decade highs due to elevated oil prices, with pros...
Japan’s 30-year government bond auction Thursday saw slightly stronger demand than the 12-month average as higher yields underpinned buying. The bid-to-cover ratio rose to 3.49, compared with 3.12 at the previous sale, and a 12-month average of 3.37. Bond futures held small losses after the result. Longer-term Japanese yields have climbed to multi-decade highs due to elevated oil prices, with prospects for an end to the Iran conflict still in limbo as US President Donald Trump visits China for a high-stakes summit . The 20-year yield has surpassed its January peak to reach the highest level since 1997, while the 30-year yield is trading at 3.845%, near the highest since its 1999 debut. The auction outcome was supported by higher yield levels, said Miki Den , a senior interest-rate strategist at SMBC Nikko Securities Inc. Attention will turn to upcoming speeches by Bank of Japan board members, and any hawkish signals that may emerge could ease concerns that the central bank is falling behind the curve in raising interest rates and help cap the increase in yields, he added. Meanwhile, Treasury yields have climbed after US data this week cemented evidence of accelerating inflation, prompting traders to increase bets on Federal Reserve rate hikes. Longer-maturity UK gilts have fallen as pressure mounts on the prime minister to resign , which has weighed on major bond markets including JGBs. At Thursday’s sale, the tail , or the gap between average and lowest-accepted prices, was 0.22 compared with 0.18 last month. An auction of 10-year bonds earlier this week also drew solid demand thanks to rising yields. The yen has also resumed weakening against the dollar despite multiple rounds of intervention by Japanese authorities, as fundamental pressures and Middle East tensions persist, which has added to inflation risks and brought another headwind to bonds. While Japanese authorities have continued to decline to comment directly on whether they intervened, people familiar w...