Goldman Sachs cuts its 12-month target for South Korea's KOSPI index by 25%.

BlockBeats news, October 25: Goldman Sachs strategists have cut their target for South Korea's KOSPI index by 25%. After having raised the index target multiple times earlier this year, they are now choosing to lower it as market concerns over AI-related trades intensify.

The analyst team led by Timothy Moe lowered the 12-month KOSPI target to 9,000 from 12,000. Goldman Sachs noted that given the benchmark index has fallen more than 35% from its June high, valuation assumptions need to become more prudent. The strategists believe this selloff has left the South Korean stock market severely undervalued; even after the target cut, the index still has more than 60% upside potential.