Goldman Strategist Holds 12,000 KOSPI Target: Will Memory Earnings Close a 74% Gap?
South Korea's KOSPI index would need to climb roughly 74% to reach the level Goldman Sachs strategist Timothy Moe still expects. He is holding a 12,000 target set before the index lost a quarter of its value.
Moe, the bank's chief Asia Pacific equity strategist, published the call three months ago and has not revised it. What has changed is the price, not his forecast.
Why the KOSPI Rally Turned Violent
The index still trades near 6,899, up roughly 60% in 2026, even after slipping about 24% from its June record close.
Its two heavyweights have done most of the lifting. SK Hynix has gained about 157% year to date, while Samsung Electronics has more than doubled, up 106%.
The path there has been anything but smooth. July delivered the sharpest reversal, when a leveraged ETF unwind hit Korean retail investors hard.
Leveraged funds tracking the two chipmakers then posted their first monthly outflow in August, shedding close to $1 billion. Swings got wide enough that Bitcoin (BTC) spent stretches of 2026 calmer than the KOSPI.
… Continue reading the full article at the original source below.
