JPMorgan raises target for South Korea’s KOSPI Index to 15,000 points

Odaily reported that JPMorgan has raised its target for the Seoul Composite Index (KOSPI Index) and recommended adding positions on dips, maintaining its highest exposure to the South Korean stock market. "This is driven by our constructive view on artificial intelligence and the earnings of related hardware companies," JPMorgan strategists wrote in a note. "There is room for further increases in retail buying."

JPMorgan's bull case scenario suggests the KOSPI Index has 77% upside from Wednesday's closing level of 8,471.02 points. The bank also raised its base case and bear case targets to 12,500 points and 8,000 points, respectively. (Jinshi)