Analysis-Inside South Korea’s world-beating bear market
By Jihoon Lee, Daewoung Kim and Gregor Stuart Hunter SEOUL, July 14 (Reuters) - When South Korean President Lee Jae Myung set a 5,000-point target for the KOSPI last year, it looked wildly ambitious and needed a market that was going sideways to nearly double. Just barely a year later, the index blasted through 8,000 in a record run driven by an AI-fuelled surge, but Lee insisted South Korean stocks were still cheap.
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By Jihoon Lee, Daewoung Kim and Gregor Stuart Hunter SEOUL, July 14 (Reuters) - When South Korean President Lee Jae Myung set a 5,000-point target for the KOSPI last year, it looked wildly ambitious and needed a market that was going sideways to nearly double. Just barely a year later, the index blasted through 8,000 in a record run driven by an AI-fuelled surge, but Lee insisted South Korean stocks were still cheap. Now that spectacular ascent has morphed into one of the market’s most bewildering reversals. The KOSPI has plunged into a bear market, shedding a quarter of its value since late June, yet remains by far the world’s best-performing major equity market this year.
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- What's the story?
- By Jihoon Lee, Daewoung Kim and Gregor Stuart Hunter SEOUL, July 14 (Reuters) - When South Korean President Lee Jae Myung set a 5,000-point target for the KOSPI last year, it looked wildly ambitious and needed a market that was going sideways to nearly double. Just barely a year later, the index blasted through 8,000 in a record run driven by an AI-fuelled surge, but Lee insisted South Korean stocks were still cheap.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 9m ago.
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Analysis-Inside South Korea’s world-beating bear market
Sources1TypeCoverageInvesting.com · Stock Market