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[Alpha Biz=(Chicago) Reporter Paul Lee] Hyundai Motor Securities presented the KOSPI's expected range of band next month at 2,250∼2,450 points on the 30th.
"The KOSPI's 12-month share price earning ratio (PER) is 9.8 times below the historical average level. The market still sees low the possibility of a technological slowdown and there are still expectations for an economic soft landing," said Hyundai Motor Securities Co.
However, in order to recover the previous high, many macro variables need to be stabilized. "In order to recover the previous high of 2,450 points, it is necessary to lower the passage of the U.S. 2024 budget bill and subsequent political uncertainties," Hyundai Motor Securities said. "The possibility of a proxy war between the U.S. and Iran is being highlighted and vigilance against the burden of interest rates may expand."
It is also pointed out that the market capitalization of secondary batteries has fallen by 40% since August, followed by selling by foreigners, which is another reason to limit the KOSPI's rise.
"The KOSPI will fluctuate between 2,250 points and 2,450 points in November," Hyundai Motor Securities said, suggesting that it is necessary to disperse risks into defensive stocks such as energy and automobiles while expanding the portion of semiconductor and IT hardware by the end of the year.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
