Global investment bank JPMorgan has projected that the KOSPI could reach 15,000 in a bull market scenario.
According to a report released on June 25 by Yonhap News, JPMorgan outlined a KOSPI forecast of 12,500 under its base scenario, with projections of 15,000 for a bull market and 8,000 for a bear market.
These figures represent an upward adjustment from previous estimates of 9,000 (base scenario), 10,000 (bull market), and 6,000 (bear market).
The report stated, "Despite ongoing foreign selling and high volatility, we maintain a bullish outlook for the Korean stock market."
JPMorgan cited a positive view on artificial intelligence (AI) and the performance growth of hardware companies as key factors behind this outlook.
The report noted, "The potential for further earnings improvement due to growth across various industrial sectors, the asset effects of financial stocks, the possibility of net interest margin (NIM) improvement, and the ongoing valuation increases driven by corporate governance reforms are all contributing factors."
It also highlighted that the profits of technology companies involved in building AI data centers have reached a significant level at the macroeconomic scale, stating, "This provides wealth increases not only for businesses and households but also for the government, enabling long-term policy formulation and planning."
The report concluded, "Korea remains our preferred market in the region, and we continue to recommend increasing exposure to the Korean market at every correction, maintaining maximum levels of risk exposure."
* This article has been translated by AI.
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