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2026-11-02 10:34:27
[South Korean stocks rebound on strong export data, with KOSPI rising more than 1% intraday] (1) On Monday, South Korean stocks recovered from early losses and rebounded on strong export data boosting market sentiment to "buy on dips"; KOSPI rose more than 1% intraday, after falling nearly 2% in early trading due to concerns about huge spending by AI companies, following Wall Street. (2) Kiwoom Securities analyst Han Ji-young said that the stock market has entered oversold territory again, while the fundamentals remain solid and corporate profit expectations have improved; the better-than-expected export data in October has also increased the possibility of the market further raising its consensus profit expectations. Driven by strong global AI investment demand, which boosted South Korean chip shipments, South Korean exports nearly doubled in October, marking the largest increase in more than 50 years. (3) A survey showed that South Korean manufacturing activity growth slowed to its lowest level in eight months in October due to weak output and demand; South Korean President Lee Jae-myung pledged to invest heavily in artificial intelligence to enhance South Korea's economic growth potential.
