Two-thirds of Korean retail investors hold on to losing stocks or buy more in an attempt to lower their average purchase price, rather than sell at a loss, a report showed Thursday. The findings are based on an online survey of 1,000 people in their 20s to 50s with experience investing in domestic or overseas stocks, conducted by financial research institute Toss Insight from July 11 to Aug. 21. Of the respondents, 42.2 percent said they continued holding losing stocks, while another 24.4 percent said they bought more shares to bring down their average purchase price. The survey also found that investors who cut their losses according to predetermined rules were less likely to report losses in stocks. Over the previous year, the share reporting losses stood at 26.5 percent in this group, compared with 41.7 percent among those who continued holding losing stocks. It also revealed a gap between investors’ perceived risk tolerance and their actual exposure. Among respondents who described themselves as “conservative” investors, 66 percent were nevertheless found to have high-risk port