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Citigroup downgrades its rating for the South Korean stock market to “Neutral”

MarsBitNews
Mars Finance News: On July 20, Citigroup downgraded its rating for the South Korean stock market from “overweight” to “neutral,” citing the sharp swings in chip stocks over the past few weeks and the bank’s efforts to reduce its exposure to investments tied to artificial intelligence. As a typical example of the frenzy around AI trading, South Korea’s KOSPI index has become the best-performing stock market globally this year. But in recent weeks, the market has experienced intense volatility due to retail investors’ enthusiasm for leveraged ETFs on individual stocks and concerns about valuations. Citigroup remains structurally bullish on the outlook for the artificial intelligence sector, but it has adjusted its stance on the South Korean market to neutral.
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