Is 'Sell America' Over... U.S. ETFs Surge on Tariff Agreement

The prices of domestic exchange-traded funds (ETFs) investing in the U.S. market are soaring. It is interpreted that the risk appetite for U.S. stocks has recovered as news of the U.S.-China trade agreement was delivered the previous day.

According to the Korea Exchange, as of 10 a.m. on the 13th, TIGER U.S. Philadelphia Semiconductor Leverage (Synthetic) is trading at 18,525 won, up 1,485 won (8.71%) from the previous day. It is the largest increase among all ETFs listed in the domestic market.

At the same time, ACE U.S. Big Tech TOP7 Plus Leverage (Synthetic), RISE U.S. Semiconductor NYSE, PLUS U.S. Tech TOP10 Leverage (Synthetic), etc., are also surging around 5%.

In the securities industry, there is an expectation that the so-called 'Sell America' phenomenon, which involves withdrawing funds from the U.S. market, will retreat again.

Han Ji-young, a researcher at Kiwoom Securities, said, "This dramatic negotiation on U.S.-China tariffs is a result that goes beyond the observation that 'the worst situation is over,' which the stock market has recently reflected," adding, "It is expected to be an opportunity to escape the 'Sell America' phenomenon that has been raised several times."

According to Kiwoom Securities, as of the 7th, looking at the global equity fund capital flow over the past month, 266 dollars have flowed out of U.S. funds, while 17 billion dollars and 7.1 billion dollars have flowed into Europe and Asia, respectively. A researcher said, "Thanks to the dramatic tariff deferral, the phase is likely to change to 'U.S. inflow, Europe and Asia outflow.'"

Yoo Seung-min, a researcher at Samsung Securities, also released a report titled 'House (Securities Firm) View Emergency Change' on the same day, raising the investment opinion on 'stocks' in global asset allocation from neutral to expansion and lowering cash from neutral to reduction. At the same time, he raised the opinion on the U.S. from neutral to expansion and lowered the opinion on the Eurozone from expansion to neutral.

He stated, "Although a simultaneous strong performance of the global stock market is expected, the U.S. market, which has been relatively sluggish due to tariff uncertainties, is expected to show superior recovery strength," adding, "This is because it was relatively more sluggish due to tariff concerns."

Shin Min-kyung, Hankyung.com reporter radio@hankyung.com