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Today's Market

Summary

South Korea's KOSPI has transitioned from a discounted market to a leading AI infrastructure trade, driven by memory and semiconductor demand.

KOSPI earnings are forecasted to grow 300% in 2026, with broad-based strength beyond Samsung and SK Hynix, while valuations remain attractive at 9x earnings.

Despite a 197% rally and heightened volatility, disciplined, risk-managed exposure to Korea is warranted, favoring low-cost vehicles like FLKR.

The U.S. AI trade faces margin compression from massive CapEx, but remains core for diversified AI exposure across hardware, software, and infrastructure.

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