"Why Securities Analysts Expect the KOSPI to Hit 9,500 Next Week [Weekend Money]"

Weekly Forecast Band Set at 8,400–9,500
Upward Revision of Q2 Earnings Drives Optimism

Securities analysts have forecast that the KOSPI could surge to as high as 9,500 next week. As expectations for third-quarter results grow following Micron's strong performance, upward revisions to second-quarter earnings forecasts are cited as one of the main factors for the weekly rise in the KOSPI. However, uncertainty surrounding the U.S. Federal Reserve's monetary policy remains a downside risk.

According to NH Investment & Securities on June 27, the expected weekly KOSPI band for next week (June 29 to July 3) has been set at 8,400 to 9,500. In a stock market preview, NH Investment & Securities researcher Na Jeonghwan described the current phase as a "period of increased volatility," and emphasized that "investors need to respond based on earnings."

The KOSPI index, which recorded its largest drop ever the previous day, started the session on the 24th with a rise of more than 2% immediately after the market opened. The exchange rate, KOSPI, and KOSDAQ indices are displayed on the status board in the dealing room of Hana Bank in Jung-gu, Seoul. 2026.06.24 Photo by Dongju Yoon

Samsung Electronics' preliminary earnings are scheduled to be released on July 7. Before that, Nike in the U.S. is set to announce its earnings on June 30; however, as expectations for those results are not high, the impact on the Korean market is expected to be limited. Researcher Na commented, "While expectations for Korean corporate earnings are rising, improvements are concentrated in semiconductors, so capital will continue to flow into Samsung Electronics, SK hynix, and related holdings. For now, it is effective to maintain a strategy focused on leading stocks."

Key indicators to watch include Korea's export-import data for June (to be announced July 1) and the U.S. employment report for May (scheduled for July 2). Na explained, "Considering the effect of the number of working days, the seasonality of semiconductor exports, and solid U.S. employment, both indicators are likely to come out strong." Although the attempt to include the Korean stock market in the Morgan Stanley Capital International (MSCI) Developed Markets Index was unsuccessful, the analysis suggests that the impact will be limited because the inflow of funds on expectations of inclusion was not significant in the first place.

Researcher Na stated, "The main force driving the stock market at present is individual investors," adding, "Currently, investor deposits stand at 136.6 trillion won, which is close to the all-time high of 139.7 trillion won, so there is still ample buying power."

Accordingly, Na recommended maintaining an overweight strategy focused on industries with high earnings visibility as the investment strategy for next week. Sectors of interest include semiconductors, power equipment, ESS (Energy Storage Systems), department stores, and hotels. Specifically, Na highlighted SK hynix, LS ELECTRIC, LG Energy Solution, Hyundai Department Store, and GS P&L as key stocks.

He explained, "The sharp decline on June 23 was not triggered by a specific event; rather, it resulted from several negative factors, including concerns about a Fed rate hike and news about unrealized gains taxation, all being reflected at once." For next week, he cited the uncertainty of the Fed's monetary policy and concerns about rate hikes as continued downside risks. However, he added, "This increase in volatility does not dictate the overall market direction, as event-driven fluctuations that do not undermine fundamentals are not factors that reverse the trend."

This content was produced with the assistance of AI translation services.