Brokerages see KOSPI hitting 10,000 this year despite recent tumbles

Local securities firms are continuing to raise their market forecasts, with many expecting KOSPI to reach the 10,000-point mark within this year despite the benchmark index’s sharp volatility in recent days, analysts said Tuesday. KOSPI briefly topped the 8,000 mark for the first time last Friday before plunging sharply. On Tuesday, KOSPI opened at 7,425.66, down 90.38 points, or 1.20 percent, from the previous session, before extending losses to close at 7,271.66, down 244.38 points, or 3.25 percent. Still, market watchers said stronger earnings growth by semiconductor firms and the ongoing artificial intelligence (AI) investment boom are likely to remain key drivers behind the market’s upward trajectory. Hana Securities lifted its projected upper band for KOSPI to 10,380, arguing that the index could realistically surpass the 10,000-point milestone if earnings estimates are achieved. “Market volatility tends to intensify during bullish cycles, but liquidity and corporate earnings remain the key factors shaping the broader market trend,” said Lee Jae-man, an analyst at Hana Secur

Original source: Korea Times