As the boxed range in Korea's stock market drags on, money with nowhere to go is flocking to "parking" ETFs. In the past week alone, nearly 1.5 trillion won poured into just five flagship parking ETFs, including "TIGER Money Market Active" and "RISE Money Market Active."
According to Koscom ETF Check on the 13th, a net 1.4899 trillion won flowed into the top five parking ETFs by inflows over the past week. Parking ETFs place cash in short-term financial products to earn interest, and are considered a channel for funds that have yet to find an investment destination.
By product, TIGER Money Market Active ranked first with 552.3 billion won in inflows. RISE Money Market Active, another brand of the same product, saw the second-largest inflow of 363.3 billion won. Next, KODEX CD Rate Active (synthetic) attracted 312.5 billion won.
Analysts said that after semiconductor stocks such as Samsung Electronics and SK hynix rebounded, demand emerged to switch into safe assets. In addition, as market interest rates have risen recently, the heightened appeal of parking products appears to have spurred the movement of funds.
Funds also flowed into ETFs tracking major U.S. benchmarks. A total of 407.7 billion won went into three products—TIGER U.S. S&P 500 (180.3 billion won), KODEX S&P 500 (117.9 billion won), and TIGER U.S. Nasdaq 100 (109.5 billion won). In the case of KODEX 200, individual investors were net sellers of 236.7 billion won.
Meanwhile, cash on the sidelines for the stock market, which had fallen below 100 trillion won, swelled by more than 10 trillion won in two days. According to the Korea Financial Investment Association, as of the 10th, investor deposits stood at 107.6572 trillion won, up 10.067 trillion won in two days.