Nvidia tops Korean investors' weekly US stock buying list

Korean investors made significant purchases of Nvidia shares last week, capitalizing on a dramatic drop in the company's stock price, according to data released on Sunday. The surge in buying activity, which amounted to $319.75 million from November 9 through Friday, marked a 717 percent increase from the previous week, according to SEIBro, a data portal operated by the Korea Securities Depository.

This buying binge came after a brief period of selling, triggered by revelations of former CEO Jensen Huang's extramarital affairs and his subsequent resignation. Following Huang's admission of marital infidelity on November 9, Korean investors initially offloaded a net $6.6 million worth of Nvidia shares. However, the selling spree was short-lived, as investors quickly reverted to buying the following day.

On Friday, the buying intensified, with investors amassing a staggering $254.85 million worth of Nvidia shares as the stock price plummeted by as much as 14 percent intraday due to Huang's resignation. The buying frenzy extended beyond Nvidia's shares, with five Korea-listed exchange-traded funds (ETFs) also experiencing increased demand from Korean investors.