Kospi set for a bear market rally throughout August: brokerages
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
The Kospi added 0.75 point to close at 2,452.25 on Monday after staying positive for six straight sessions since July 25. It fell 0.84 percent, or 20.66 points, to 2,431.59 by midday Tuesday.
Major local securities firms Shinhan Investment, Daishin Securities, and Kiwoom Securities on Monday forecast that the Kospi would rise to the 2,550~2,600 levels, but advised against big bets as the rally could be a technical rebound after massive selloffs.
They expect the gains would stay in a boxed range amid lingering concerns that the U.S. Federal Reserve (Fed) would continue with aggressive monetary tightening to control high inflation. Experts have been warning the U.S. economy and elsewhere could face slowdown or recession after strong inflation eases.
“The technical rebound in the third quarter is considered a process to return the short-term valuation to normal levels,” said Lee Kyung-min, a senior researcher at Daishin Securities. “The Kospi is expected to dip again after confirming a downturn in the manufacturing industry and earnings deterioration from the fourth quarter to the first quarter next year.”
Market experts advise investors to cherry-pick undervalued growth stocks in the IT, automobile, and software sectors with solid earnings growth during the bear market rally. As soon as inflation peaks out, growth stocks are expected to recoup most losses.
“The media education, software, display, and IT sectors have underperformed the most since the beginning of the year. Firms with high growth potential will likely rebound down the road,” said Han Ji-yeong, a researcher at Kiwoom Securities.
KB Securities’ analyst Lee Eun-taek also found the down spiral in platform stocks had been excessive.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
Copyright © 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지
- Among Korean groups, Kakao adds 8 units and LG sheds 12 in May-July - Pulse by Maeil Business News Korea
- Kospi set for a bear market rally throughout August: brokerages - Pulse by Maeil Business News Korea
- Fund migration to banks picks up after BOK’s 50bp rate hike - Pulse by Maeil Business News Korea
- Battery leasing becomes available to cut Korean EV prices in half from next year - Pulse by Maeil Business News Korea
- SK nexilis develops ultra-high strength EV battery copper foil - Pulse by Maeil Business News Korea
- 강경준, 상간남 피소…사랑꾼 이미지 타격 [MK픽] - 스타투데이
- 기술이전 2건에 1조2천억…‘면역’의 마술사 [CEO LOUNG]
- 방탄소년단 진, ‘2024 파리 올림픽’ 성화 봉송 주자되다...열일 행보 - MK스포츠
- 이찬원, 이태원 참사에 "노래 못해요" 했다가 봉변 당했다 - 스타투데이
- 양희은·양희경 자매, 오늘(4일) 모친상 - 스타투데이