Morgan Stanley has increased its 12-month target for South Korea's benchmark KOSPI index from 8,500 points to 9,000 points, attributing the revision to strong buying activity from individual investors.
In a report, strategists including Seok Joon and Kathleen Oh noted, "Assuming the intertwined landscape of a supercycle and reforms remains intact, the stickiness of retail funds should provide support and continue to act as a stabilizer."
The firm also raised its optimistic scenario target from 10,000 points to 10,500 points and lifted its pessimistic scenario target from 6,000 points to 6,500 points.
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