Kospi Hits Record Highs at 6.4 Times Earnings After 80% Rally
Updated
Updated · Bloomberg · Jul 12
Kospi Hits Record Highs at 6.4 Times Earnings After 80% Rally
3 articles · Updated · Bloomberg · Jul 12
Summary
South Korea’s Kospi has surged about 80% this year to a run of record highs, yet it now trades at just 6.4 times forward earnings.
Analysts’ profit upgrades have outpaced the market’s rise, driven by booming earnings at memory-chip leaders Samsung Electronics and SK Hynix.
That has pushed the benchmark’s valuation below levels seen during the 2008 global financial crisis, leaving Korean equities cheaper than ever despite the rally.