Jefferies: Recent Correction in Korean Stock Market "Natural and Healthy"

Odaily Planet Daily News Christopher Wood, head of global equity strategy at Jefferies, stated in a research report that the recent correction in the Korean stock market is "natural and healthy." Wood pointed out that amid AI fatigue sentiment, investors are starting to look for cheaper value stocks that have not yet participated in the AI trade. However, as the AI capital expenditure race continues, the "picks and shovels" trade still has staying power.

Wood indicated that upstream suppliers will remain the biggest beneficiaries. The analyst added that the upcoming earnings announcements from hyperscale cloud service providers will provide the next stress test for the AI narrative. He stated that the key issue is whether the expected data center boom will translate into actual construction projects. (Jin Shi)