Nomura: "KOSPI Could Reach 11,000 This Year"

Upper Target Raised from 8,000 to 11,000

On May 15, 2026, employees are celebrating the KOSPI index surpassing the 8,000 mark intraday for the first time ever at Hana Bank dealing room in Jung-gu, Seoul. Photo by Jin-Hyung Kang

Nomura Securities has raised the upper end of its KOSPI target for this year to 11,000.

In a report released on May 20, Nomura Securities stated, "We are raising this year's KOSPI target from the previous range of 7,500 to 8,000 to a new range of 10,000 to 11,000."

The brokerage explained, "The KOSPI could rise further, driven by corporate earnings and a return-on-equity (ROE) cycle."

The report noted, "Commodity memory and high bandwidth memory (HBM) are in a supercycle, which will be the key drivers of earnings growth and ROE for the KOSPI in 2026 and 2027."

Specifically, it assessed that "the memory and HBM sectors, power facilities, energy storage systems (ESS), and artificial intelligence (AI) infrastructure—including nuclear power—will generate sustainable ROE over the next five years."

It also added, "The government's KOSDAQ activation policies, along with Korea's inclusion on the Morgan Stanley Capital International (MSCI) watchlist for developed markets, will serve as additional catalysts."

Meanwhile, Nomura set its target prices for SK hynix at 4 million won, Samsung Electronics at 590,000 won, Kia at 240,000 won, and Samsung SDI at 900,000 won, respectively.

This content was produced with the assistance of AI translation services.