JPMorgan Sees Korean Stock Gauge at 5,000 in Two Years
The rising Kospi and Kosdaq indices displayed at the Korea Exchange (KRX) in Seoul
Photographer: SeongJoon Cho/BloombergSouth Korea’s equity benchmark may rise more than 50% from its current level over a two-year period should corporate governance reforms gain momentum, according to JPMorgan Chase & Co.
Korea remains a key overweight market in Asia and among emerging markets, strategists led by Mixo Das wrote in a note on Friday. The Kospi Index, which has gained 32% so far this year to near a record high, could reach around 5,000, they said. That compares with Friday’s close of around 3,176.