“They said the KOSPI would hit 12,000”... Securities firms cut forecasts to around 5,000

[Financial News]  KB Securities, which had forecast that the KOSPI could rise to as high as 12,000, sharply lowered its forecast about four months later. It adjusted its projected upper bound for the KOSPI next year to around 9,000, while forecasting that the lower end could fall to the low 5,000s.
According to the financial investment industry on the 10th, KB Securities set its projected KOSPI range for next year at 5,100–9,000 in its recently released report, “2027 Outlook for Korean Equities.”
Compared with the maximum upside forecast of around 12,000 that it presented last July, the upper end of the new forecast was lowered by 3,000 points (25%).
The projected floor of around 5,100 for the KOSPI next year falls short even of 6,000, half the maximum index level of 12,000 forecast earlier. The gap between the projected upper and lower ends of the KOSPI range in this report also amounts to 3,900 points. This figure reflects the possibility of considerable volatility in the domestic stock market going forward.
KB Securities forecast that a “catch-up rebound” could emerge early next year, with the KOSPI first undergoing a correction and then recovering in the wake of gains in U.S. stocks.
However, it expressed concern that from the second quarter of next year onward, rising energy prices could add to inflationary pressures and the labor market could slow. It also identified recession risks as a factor that could limit gains in the stock market.
Other securities firms also successively lowered their KOSPI forecasts. Daishin Securities and DB Securities lowered their projected upper bounds for the KOSPI in the fourth quarter of this year to around 6,700 and 7,300, respectively.
These are 4,800 points lower for Daishin Securities and 4,400 points lower for DB Securities than the upper ends of their forecasts for this year announced last June.

[email protected] Han Seung-gon Reporter