Kevin Sneader 5.0 1 idea

Kevin Sneader stated Goldman Sachs remains “pretty positive about Korea” and that a “target of 7000 for KOSPI is possible,” anchored in the view of strong global memory chip demand. He differentiates Korea’s vulnerability: while it is more exposed to the energy shock than China, its equity market’s fundamental driver is the semiconductor cycle, not the immediate oil crisis. The memory cycle thesis overrides near-term energy concerns for the index target. Positive view based on a sector-specific (technology/memory) growth thesis that is considered more powerful than the macro headwind from higher energy costs in the medium term. A severe global recession triggered by the oil shock that crushes all cyclical demand, including for semiconductors. Also, the KOSPI is currently testing key technical support (~5500).