Morgan Stanley raises KOSPI target to 6,500… 7,500 possible in a bull case
Summary
- Morgan Stanley said it is raising its year-end KOSPI index target to 6,500.
- Morgan Stanley cited positive factors including a memory semiconductor super-cycle and additional upside potential for the information technology (IT) sector.
- Morgan Stanley said it raised its bull-case KOSPI target to 7,500 and its 3–6 month range to 5,600–7,000.
Forecast Trend Report by Period
Morgan Stanley said on the 27th that it is raising its year-end target for the KOSPI index to 6,500. This comes just a month after it lifted the target to 5,200 on the 29th of last month.
In a report released the same day, Morgan Stanley said that “the AI narrative centered on a memory semiconductor super-cycle will continue to drive the market.”
As positive factors, it cited greater upside potential for the information technology (IT) sector, adding that the trend of expanding infrastructure investment is unlikely to slow for the time being.
It also pointed to tailwinds such as a stronger won, a recovery in domestic demand, Korea’s benefits as an advanced manufacturing hub, improving domestic liquidity, and policy momentum on corporate governance and capital markets.
For its bull-case scenario, it raised its target to 7,500 from 6,000. It also lifted its 3–6 month KOSPI trading range to 5,600–7,000 from 4,600–5,800.
Morgan Stanley said it sees a higher probability of reaching 7,500 in the first half of the year than in the second half.
Ko Jeong-sam, Hankyung.com reporter jsk@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
