STOCKS | JPMorgan Raises Kospi Target and Recommends Buying on Dips

JPMorgan has raised its target for South Korea’s Kospi index and recommended adding positions on market pullbacks, while maintaining its highest exposure to South Korean equities. According to Odaily, JPMorgan strategists wrote in a report that the move reflects their constructive view on artificial intelligence and earnings at related hardware companies. They added that there is still room for retail buying to increase. In its bull-case scenario, JPMorgan said the Kospi has 77% upside from Wednesday’s close of 8,471.02. JPMorgan also raised its base-case and bear-case targets to 12,500 and 8,000, respectively.