Goldman Sachs Says Kospi Could Break Above 7,200
JOON HYOUNG LEE
Summary
- Goldman Sachs said the Kospi could rise above the 7,000-7,200 range in the near term.
- It said improving buying by institutional and foreign investors, momentum in the memory chip sector, and Samsung Electronics' large dividend plan were additional catalysts for gains.
- It cautioned, however, that Samsung Electronics' ex-dividend date next month and the end of major companies' share buyback programs could weigh on the market.
Forecast Trend Report by Period
Goldman Sachs said the Kospi could break above the 7,200 level.
Walter Bloomberg reported on September 23 that Goldman Sachs sees the benchmark South Korean stock index rising above the 7,000-7,200 range in the near term.
The bank cited improving buying by institutional and foreign investors as a key driver. It also pointed to momentum in the memory-chip sector and Samsung Electronics Co.'s large dividend plan as additional catalysts for gains.
Goldman Sachs cautioned, however, that Samsung Electronics' ex-dividend date next month and the end of share buyback programs at major companies could weigh on the market.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul