Citi Says Buy-the-Dip Trade Is Spreading in Kospi, Keeps 10,000 Target
JH Kim
Summary
- Citigroup said investors are increasingly shifting to a 'buy the dip' strategy of buying Kospi declines, citing stronger foreign inflows, improved pension-fund buying and tighter trading rules for retail investors.
- Citigroup said in a report on July 31 that it maintained its target for the Kospi at 10,000.
- Citigroup said solid fundamentals in the memory-chip sector, attractive valuations and the potential for government policy support should continue to support the market.
Forecast Trend Report by Period
Citigroup said investors are increasingly adopting a "buy the dip" strategy in South Korea's Kospi, citing stronger foreign inflows, improved buying by pension funds and tighter trading rules for retail investors.
Walter Bloomberg reported on July 31 that Citigroup kept its target for the Kospi at 10,000 in a report. The bank said solid fundamentals in the memory-chip sector, attractive valuations and the potential for government policy support should continue to underpin the market.
JH Kim
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