According to ME News, on August 4 (UTC+8), Timothy Moe, Goldman Sachs’ Chief Equity Strategist for Asia Pacific, stated that the bank remains bullish on the recently battered Korean stock market and maintains its target of 12,000 points for the Kospi index. Moe said in an interview that if volatility declines, “we believe fundamentals will once again take center stage, and we find those fundamentals very attractive.” “The current market P/E ratio is only five times, clearly undervalued, which actually suggests the market does not believe the semiconductor memory cycle will persist”—but we believe it will; “we think the current semiconductor cycle is larger and longer than usual.” (Source: ODAILY)
Goldman Sachs Maintains 12,000 Target for Kospi Index Amid Market Volatility
KuCoinFlashShare
Summary
Goldman Sachs remains bullish on the Korean stock market despite market volatility, maintaining its 12,000-point target for the Kospi index. Timothy Moe, the firm’s Asia-Pacific head of equity strategy, said fundamentals will drive the market if volatility subsides, describing them as highly attractive. He noted that the current P/E ratio is just 5 times, indicating undervaluation. Moe also highlighted a stronger and more prolonged semiconductor memory cycle as a key support for market trends.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.