Nomura: Korean stock sell-off appears excessive

According to TechFlow, on November 06, an analyst team led by Cindy Park at Nomura Securities said Korea's KOSPI Index currently appears oversold. In a research report, the analysts noted that global equities have been weighed down by rising interest rates, elevated oil prices and other risk factors, while Korean stocks have fallen more than other major global markets. Since August, the index has dropped 18%, and is currently hovering around 5400 points.

Nomura Securities has set a three-month target range of 7500 to 8000 points for Korea's KOSPI Index to reflect macroeconomic and AI-related risks, while maintaining its long-term target of 10000 points. The analysts also said that AI investment, larger corporate share buybacks, and market reform measures aimed at enhancing corporate value could all serve as catalysts for a rally in Korean stocks. (Jin10)

Source: TechFlow