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Korean Stocks Extend 5% Rally; SK Hynix Surges 10%; JPM Raises Kospi TP to 12,500 Points, Bull Case Sees 15,000
2026-06-25 11:29:57 Following "Black Tuesday" on Tue (23rd), when the market closed down 10% for the day, Korean stocks have rebounded for consecutive sessions. After the Kospi in South Korea rose 3.3% on the previous day (24th), it continued its upward momentum this morning (25th), last reported at 8,921 points, up 450 points or 5.3%. The two major heavyweight stocks performed strongly. After surging 9.8% the previous day, Samsung Electronics rose a further 5.3% this morning. Foreign media reported yesterday that Samsung Electronics is preparing a large-scale share buyback worth about KRW90 trillion (equivalent to approximately USD58.6 billion) to pay employee bonuses. SK Hynix soared 10.8% to KRW2.859 million. SK Hynix issued ADRs raising USD29.4 billion and will seek a listing on Nasdaq on July 10. Meanwhile, Samsung C&T gained another 10.5%, while KB Financial Group rose 2%. Samsung Electro-Mechanics and Hyundai Motor increased 0.6% to 1%. LG Energy Solution and Hanwha Aerospace bucked the trend, falling 1.5% to 1.8%. JPM released a report raising its target for the Kospi in South Korea and recommended adding positions on dips, maintaining the highest exposure to Korean equities. JPM said its optimism on Korean stocks stems from its constructive view on AI and the earnings of related hardware companies. There remains room for further increases in retail buying. The bank noted that earnings of technology companies involved in AI data center construction are now large enough to have a macro-level impact, boosting wealth for corporates, households and governments. JPM's bull-case target is 15,000 points, implying 77% upside from the Kospi's Wed (24th) closing level of 8,471 points. JPM also raised its base-case and bear-case targets to 12,500 points and 8,000 points, respectively. (da/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |