Jefferies: The recent correction in the South Korean stock market is “natural and healthy”

Glonghui, July 10 | Jefferies Global Head of Equity Strategy Christopher Wood stated in a research report that the recent correction in the South Korean stock market is “natural and healthy.” Wood pointed out that amid AI fatigue, investors have begun to look for cheaper value stocks that have not yet participated in AI trading. However, as the AI capital expenditure race continues, the “selling shovels” trade still has potential. Wood said that upstream suppliers will remain the biggest beneficiaries. The analyst added that the upcoming earnings announcements from hyperscale cloud service providers will provide the next stress test for AI-related themes. He noted that the key question is whether the expected data center boom will translate into actual construction projects.