South Korean retail investors net-bought $796 mln of SpaceX shares on the company's listing day, data from the Korea Securities Depository showed, signaling strong demand after many retail investors were excluded from the IPO. SpaceX (SPCX.O) became the most popular U.S. stock among roughly 14 mln Korean retail investors; the single-day net purchase exceeded cumulative net buys for any U.S. stock over the past three months. Unlike Japan and Australia, Korea did not open direct retail access to t

South Korean retail investors net-bought $796 mln of SpaceX shares on the company's listing day, data from the Korea Securities Depository showed, signaling strong demand after many retail investors were excluded from the IPO. SpaceX (SPCX.O) became the most popular U.S. stock among roughly 14 mln Korean retail investors; the single-day net purchase exceeded cumulative net buys for any U.S. stock over the past three months. Unlike Japan and Australia, Korea did not open direct retail access to the IPO; underwriter Mirae Asset Securities offered allocations to selected clients but ultimately received no shares. The Korea Financial Supervisory Service has broadened an investigation into the broker to determine why it failed to secure SpaceX allocations.