Citi Raises South Korea KOSPI Index Target to 8,500 This Year
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Citi has raised its target for the South Korea KOSPI Index from 7,000 to 8,500 for this year, citing strong earnings growth in the semiconductor sector and government initiatives. The KOSPI Index has risen over 70% this year, reaching 7,411. The report highlights that South Korea's economy is benefiting from robust semiconductor growth and improving manufacturing fundamentals, with corporate earnings expected to grow 177% YoY. South Korean memory chip suppliers are anticipated to continue thriving due to customization demand and long-term agreements.
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