Investors increase holdings in entertainment stocks amid K-pop comeback hopes

Major foreign and institutional investors are rushing to significantly increase their holdings in key entertainment firms, buoyed by expectations of comebacks from top K-pop groups including BTS and BLACKPINK, and overall growing optimism over Korea-China relations, market watchers said Thursday. Foreign and institutional investors, including the National Pension Service (NPS), are leading the rally. Foreign investors and institutional investors bought 327.1 billion won ($240 million) and 19.9 billion won of SM Entertainment shares, respectively. The former also bought 158.4 billion won of HYBE shares and the latter 157.6 billion won. The NPS bought 390,182 shares of YG Entertainment, increasing its stake to 7.24 percent, up from 5.15 percent. Earlier in May, the pension fund also bought 48,532 shares of JYP Entertainment. Analysts say the increase in holdings is attributed to the entertainment agencies’ solid fundamentals and strong earnings expected in the months to come. Revenue will be bolstered due to income from concerts and album sales, certain to rise since BTS member Suga completWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times