Asian Retail Investors: Seohak Ants to NISA and SIPs — 2026-10-24
Korean retail investors ("Seohak Ants") have aggressively increased their net buying of U.S. stocks to a nine-month high, driven by volatility in the local KOSPI market and a surge in leveraged semiconductor bets. Meanwhile, India’s mutual fund SIP inflows hit a record high in September, and Taiwan’s ETF beneficiary numbers broke historical records as retail investors sought stability amid market swings.
Asian Retail Investors: Seohak Ants to NISA and SIPs — 2026-10-24
Top developments
Korean retail net buying of US stocks hits 9-month high
Korean individual investors’ net buying of U.S. stocks reached its highest level in nine months as of late October, reversing a two-month decline. This shift occurred as domestic market volatility increased, prompting investors to reallocate capital from the KOSPI to U.S. assets. The surge was notably driven by massive inflows into leveraged semiconductor ETFs, such as the Direxion Daily Semiconductor Bull 3x (SOXL), which attracted over $2.5 billion in a single week despite significant sector declines.
India’s SIP inflows reach record levels
Monthly inflows into Systematic Investment Plans (SIPs) in India’s mutual fund industry hit a record high of ₹32,490 crore (approx. $3.8 billion) in September 2026. This record inflow demonstrates the resilience of retail investors who are continuing their disciplined monthly investments despite broader market corrections. Financial advisors are urging investors to maintain their SIPs rather than timing the market, citing long-term data that supports consistent investing through volatility.
Taiwan ETF beneficiary numbers break records
The number of beneficiaries holding Taiwan-listed ETFs surpassed 19 million for the first time in history, with a single-week increase of 696,000 investors. This surge is concentrated in dividend-focused and broad-market ETFs, such as the 0050 and 0056 funds, as retail investors seek relative stability and income during periods of high market volatility. The 0056 ETF alone attracted nearly NT$30 billion in new funds in October ahead of its dividend ex-date.
Local view
In Korea, local media highlights the "absolutely crazy" nature of recent retail bets, particularly on 3x leveraged semiconductor ETFs, where investors poured billions into declining assets hoping for a rebound. Conversely, reports indicate that despite increased net buying, the total value of Korean-held U.S. stocks dropped by 16 trillion won in a week due to market depreciation, highlighting the volatility of these leveraged positions.
In India, Hindi-language financial media is actively debating the risks of SIPs versus lump-sum investments during the current market downturn. Experts cited in Business Standard’s Hindi edition advise against stopping SIPs, emphasizing that the discipline of regular investing has historically protected against timing errors.
Context & numbers
- Korea: Net buying of U.S. stocks by Korean retail investors reached a nine-month high, with significant concentration in semiconductor leveraged ETFs.
- India: September 2026 SIP inflows reached ₹32,490 crore, a record for the year.
- Taiwan: Total ETF beneficiary count exceeded 19 million, with the 0056 ETF gaining approximately 1.715 million new holders recently.
- China: Margin balances in the Shanghai and Shenzhen markets showed a slight increase of 1.716 billion yuan in ETFs on October 22, though overall market margin balances have seen a seven-day decline.
On the radar
- Korea: Watch for continued volatility in KOSPI as retail investors attempt to "buy the dip" on leveraged ETFs, which has led to significant losses for some single-stock leveraged ETP holders.
- Japan: NISA (Nippon Individual Savings Account) inflows remain strong, with foreign stock purchases by investment trusts reaching ¥9.96 trillion in the first nine months of 2026, a 40% increase year-on-year.
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