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Local securities firms bet KOSPI in 1,800 to 2,300 range next year
2012.11.05 18:13:32
South Korean securities firms forecast the nation’s economy will show a gradual recovery next year and the benchmark KOSPI will reach up to the 2,300 range in the best scenario case.

[Local securities firms bet KOSPI in 1,800 to 2,300 range next year] 기사의 본문 이미지

Korea’s GDP will grow 3.0 percent next year, the nation’s exports are likely to improve from the fourth quarter (Q4) of this year and external demand from the US and China will improve, local brokerage firm KTB Investment & Securities said in a report Monday.

“In the mid-term, it seems difficult to recover the level in 2008. The economic growth rate will not fall sharply but the demand recovery will not be significant, so flat growth will continue,” said a KTB researcher. The report said next year’s KOSPI will range between 1,800 and 2,400 points.

KB Investment & Securities said the global economy will show a gradual recovery next year unless there is a ‘fiscal cliff’ in the US. It said the recovery will be felt from the second half (H2) of next year amid a low-growth environment. “There will be more expectations of a recovery rather than a recession and the KOSPI will range between 1,900 and 2,350 points, one to 1.25 times the PBR (price-to-book ratio) of Korean shares on MSCI (Morgan Stanley Capital Index),” said a KB Investment & Securities researcher.

Shinhan Investment also forecast the KOSPI will range between 1,830 and 2,360 points next year, saying Korean will see asset inflation in H2 of next year after a rebound in Q1 and a correction in Q2.

[Written by Yoon-soo Park / edited by Soyoung Chung]

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