Future Asset Securities believes that the current domestic stock market in South Korea is close to the bottom range. The agency pointed out that the recent sharp decline in individual stocks related to artificial intelligence infrastructure was not damaged, but was caused by concentrated liquidation of positions. However, with regard to the rate of stock price recovery, future assets and securities refer to the recovery phase after the market plummeted in the past, and believe that this trend may be closer to the market recovery process during the 2022 Federal Reserve interest rate hike cycle. The agency said that in an environment where the market continues to be wary of rising interest rates, it is difficult to expect a rapid increase in valuation levels, so it is more likely that there will be a gradual recovery compared to the V-shaped trend of a rapid rebound. At the same time, the brokerage firm determined that additional selling pressure from foreign investors, which have great influence on South Korea's local stock market, will be limited in the future. Since the beginning of the year, the cumulative net sales amount of foreign investors in the Korea Composite Stock Price Index reached 160 trillion won, the highest value in history. The three-month rolling net sales volume of foreign capital accounted for -1.8% of the total daily market value last month. The sell-off scale was at the same level as during the COVID-19 pandemic in 2020 and the 2008 to 2009 global financial crisis. According to this future asset and securities forecast, the Korean stock market will enter a moderate recovery phase this month. The core logic is that market valuation attractiveness has increased, and corporate profits have not been substantially damaged.

Future Asset Securities believes that the current Korean stock market is close to the bottom range. The agency pointed out that the recent sharp decline in individual stocks related to artificial intelligence infrastructure was not damaged, but was caused by concentrated liquidation of positions. However, with regard to the rate of stock price recovery, future assets and securities refer to the recovery phase after the market plummeted in the past, and believe that this trend may be closer to the market recovery process during the 2022 Federal Reserve interest rate hike cycle. The agency said that in an environment where the market continues to be wary of rising interest rates, it is difficult to expect a rapid increase in valuation levels, so it is more likely that there will be a gradual recovery compared to the V-shaped trend of a rapid rebound. At the same time, the brokerage firm determined that additional selling pressure from foreign investors, which have great influence on South Korea's local stock market, will be limited in the future. Since the beginning of the year, the cumulative net sales amount of foreign investors in the Korea Composite Stock Price Index reached 160 trillion won, the highest value in history. The three-month rolling net sales volume of foreign capital accounted for -1.8% of the total daily market value last month. The sell-off scale was at the same level as during the COVID-19 pandemic in 2020 and the 2008 to 2009 global financial crisis. According to this future asset and securities forecast, the Korean stock market will enter a moderate recovery phase this month. The core logic is that market valuation attractiveness has increased, and corporate profits have not been substantially damaged.