SEOUL: Investors in South Korea are betting on improving earnings and a recovery in global semiconductor sales to drive stock gains as they focus on long-term catalysts rather than this month’s surprise short-selling ban.
Global funds have started buying the nation’s equities again after three months of net sales, while South Korean exports rose in October for the first time this year.
The market’s decline over the August-October period provides a good entry point given chip earnings are likely to rise, according to Invesco Asset Management.
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