Eben@CANSLIM ResearchGoldman Sachs’ Korea Weekly Kickstart reports that the KOSPI fell 1.5% over the week even as buyback inflows continued and the KRW strengthened. Foreign investors kept selling, led by KOSPI Tech outflows, while 12-month forward EPS for the index was revised up 3.2%. The bank’s Korea Equity Risk Barometer sits at -0.4, which it describes as risk-neutral territory.
Key Takeaways
- The KOSPI declined 1.5% in the week covered by Goldman Sachs’ Korea Weekly Kickstart, despite continued strong buyback inflows and a stronger KRW.
- Leisure, Banking and Chemicals outperformed, while Construction, Shipbuilding and Software lagged the most.
- Foreign investors remained net sellers of the KOSPI, driven by outflows from KOSPI Tech, with foreign ownership of the KOSPI semiconductor sector more than two standard deviations below its historical average.
- KOSPI 12-month forward EPS was revised up +3.2%, with Shipbuilding posting the strongest upward revisions and Securities the largest downgrades.
- The KRW strengthened 1.7% against the USD and 1.4% against the EUR, but weakened 0.6% against the JPY.
Lead Analysis: What Goldman Sachs’ Korea Weekly Kickstart Says
In a report titled “KOREA WEEKLY KICKSTART”, Goldman Sachs analysts Timothy Moe, CFA, and colleagues present a weekly portfolio strategy review of the Korean equity market dated 4 September 2026. The central observation is a divergence: the KOSPI declined 1.5% on the week even as buyback-related inflows persisted and the currency appreciated.
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