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Korea Investment & Securities Forecasts KOSPI Range of 6,200-7,400 for September
Finance · Investment Banks/Brokers · yonhap_finance · 2026-09-03
Korea Investment & Securities warns of a 'triple threat' for the KOSPI in September, advising investors to focus on defensive sectors like finance and chips.
What Happened
Market Forecast: Korea Investment & Securities has projected a KOSPI trading range of 6,200 to 7,400 for September. The firm cites macroeconomic uncertainty and a lack of earnings momentum as primary factors capping the index's upside potential.
Triple Challenges: The market is currently facing a 'triple threat' consisting of slowing demand, a strengthening won, and rising interest rates. Analysts suggest lowering expectations for earnings, as the likelihood of positive surprises in the third quarter remains low.
Sector Strategy: Semiconductors are expected to maintain a solid floor due to share buybacks, while financial sectors like banking and insurance are recommended for their defensive qualities against high interest rates. Additionally, cosmetics and holding companies are highlighted as sectors with favorable earnings adjustments.
Investment Approach: Investors are encouraged to avoid excessive optimism and instead focus on sectors with proven earnings visibility. A defensive portfolio strategy is deemed essential to navigate the challenging macroeconomic environment throughout the month.