Teflon South Korean Stocks Still Judged Cheap After Record High
- Kospi tops May 2011 high despite nuclear rattles, politics
- Investors bet nation’s equities to climb as trade offers boost
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South Korea’s stock market is showing the naysayers who’s in charge.
Threats of a North Korean nuclear test, an impeached president, sanctions from China and exploding Samsung phones couldn’t stand in the way of the country’s benchmark equity gauge hitting a record high Thursday. Investors from ABN Amro Private Banking and Robeco Groep NV are betting the shares will climb further thanks to rising global trade, with the cheapest valuations among the world’s biggest markets luring inflows from overseas.