GOLDMAN SLASHES KOSPI TARGET BY 25%

Goldman Sachs just cut its 12-month Kospi target by 25%, from 12,000 to 9,000, after South Korea's benchmark fell more than 35% from its June peak as the AI trade unravels. Chipmakers Samsung Electronics and SK Hynix, which together drove most of the rally, are now leading the decline. Despite the cut, Goldman still sees more than 60% upside from current levels on the new target.