Is it time for a correction in the sharply rising South Korean stock market?
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The KOSPI index in South Korea has risen 50% this year, mainly benefiting from the overweight of memory stocks such as SK Hynix and Samsung. Bank of America’s Hartnett pointed out that SK Hynix has increased fivefold in the past 10 months, which may lead to a severe overbought condition in the KOSPI, similar to other historical market bubbles. The Nikkei index and the renminbi may also face the risk of a pullback
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