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(Bloomberg) -- South Koreans bought the most Hong Kong equities in three years in February as investors chased gains from a stock market rally.

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They snapped up shares worth $189 million on a net basis last month, according to depository data compiled by Bloomberg. The trend has continued into March, with stock purchases poised to be the biggest two-month net buy since early 2021.

The moves mark a dramatic recovery in trader-sentiment for Hong Kong shares, with South Korean investors being net sellers for the past year. The benchmark Hang Seng Index has surged 18% this year, while Chinese investors have continued to boost holdings as they bought a record amount of Hong Kong equities on Monday.

Meanwhile, US stocks have recently suffered massive losses amid growth and tariff concerns, dealing a blow to risk-loving Korean retail investors.

--With assistance from Myungshin Cho.

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