S Korea Stocks Up 87% YTD; Foreign Investors Pull USD11.5 billion Since May; KB Securities Lifts KOSPI 2026 TP to 10,500
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South Korea's KOSPI index has surged 87% year-to-date, outperforming global peers, despite foreign investors pulling USD11.5 billion since May. Local retail investors are driving market gains, with the KOSPI rising 1.25% to 7,941. KB Securities raised its 2026 KOSPI target from 7,500 to 10,500, citing AI investment driving earnings growth. Concerns about a market bubble are deemed limited, as significant economic signals for a collapse are not anticipated. The KOSPI is currently trading at a discount compared to other Asian emerging markets, with expected operating profit growth for 2026 at KRW919 trillion.
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