Nomura silences AI doubters, says Kospi can hit 10,000 mark to double as fundamentals are intact

Just when the South Korean stock market plunged below the 5,000 mark to hit a 9-month low on Friday, Japanese brokerage firm Nomura shushed AI doubters and said that the index can reclaim the 10,000 mark with a near-term target in the range of 7,500 to 8,000.

When compared to the day’s low, a 10,000 target implies an upside of 104%, while the near-term target forecasts an upside of 63% from Friday’s low of 4,911.