Korea Investment & Securities, strategic investment in Coinone and KOSPI 9,500 outlook
Korea Investment & Securities has made a strategic investment in Coinone. During the same period, Korea Investment & Securities 6-month KOSPI 9,500 outlook and recommended increasing the weighting of semiconductors and IT, while the KOSPI fell 6-month 4 following disappointment over Broadcom’s earnings and tensions in the Middle East.2%.
Korea Investment & Securities said it invested in Coinone on 6-month 4 day. The company explained that the investment was strategic rather than for financial purposes. The company said the move was aimed at gaining an early foothold in the virtual asset market.
Korea Investment & Securities forecast that the KOSPI in 6-month could reach the 9,500 level. It also recommended increasing the weighting of semiconductors and IT. As the rationale for the recommendation, it cited the sectors’ attractive valuations and changes in supply and demand.
As buying by individual investors flowed into ETFs, credit balances for semiconductor-related products surged. Buying momentum that was not conservative was found to have expanded in the short term. It was also explained that the increase in credit balances differed by product.
A global securities firm raised its KOSPI target to 1ten thousand2,000. The report cited improving semiconductor industry conditions as the basis. It reflected expectations for improved earnings in the sector.
One report raised concerns about the concentration in semiconductors. It pointed out that industry concentration in a portfolio could increase risk. The content mentioned the need for diversification.
The market reaction was volatile. 6month 4day, the KOSPI fell by more than 2% due to Broadcom's disappointing results and tensions in the Middle East. The day's decline also affected volatility centered on semiconductor-related stocks.