Bloomberg: Korean stocks' correlation with Nasdaq nears two-year high, becomes global AI investment sentiment barometer
PANews July 20 news, according to Bloomberg, as the linkage between Korean stock market and U.S. tech stocks continues to strengthen, global fund managers are treating the Korean market as a leading indicator for observing AI investment sentiment. Paying attention to the trends of Korean tech stocks like Samsung Electronics and SK Hynix before the market opens has become a new norm in the industry. The 60-day correlation coefficient between the Korea Composite Stock Price Index (KOSPI) and the Nasdaq 100 Index has risen to 0.46, near the highest in the past two years and about three times the five-year average of 0.16. Especially during market declines, the sensitivity of the Nasdaq to movements in Korean stocks has notably increased, with the relevant indicator reaching its highest since 1990 on the 7th of this month.


