NewTimeSpace News: On March 17th, Japanese and South Korean stock markets opened higher together, with South Korea's KOSPI index rising nearly 3%. Among individual stocks, Samsung Electronics' share price climbed nearly 5%, SK Hynix surged over 3%, Hyundai Motor jumped over 4%, and LG Energy Solution gained over 1%. Other heavyweight stocks also posted notable advances. Xtrackers MSCI Korea UCITS ETF (02848.HK) opened strongly, gaining over 3% at the opening bell.

According to Hong Kong Stock Exchange data, Xtrackers MSCI Korea UCITS ETF (02848.HK) tracks the MSCI Korea 20/35 Custom Index, a "capped index" designed by MSCI to comply with EU UCITS fund regulatory requirements. While maintaining representativeness and investability across South Korea's large and mid-cap equity markets, it employs hard weight caps to reduce single-company risk. SK Hynix, Samsung Electronics, NAVER, Hyundai Motor, and Shinhan Financial are among the top ten constituents.

The overnight decline in crude oil prices eased concerns about energy costs amid the Middle East conflict. Recently, U.S. President Trump has been pressuring various countries to jointly push for reopening initiatives. Meanwhile, U.S. Treasury Secretary Bessent also made statements to soothe oil markets, with WTI crude plunging 4% intraday yesterday.

Goldman Sachs Research raised its year-end 2026 KOSPI target from 6,400 to 7,000. While the duration and magnitude of the oil shock are expected to determine the fundamental impact on regional earnings and economic growth, Goldman Sachs Research also upgraded its 2026 earnings growth forecast from 120% to 130%. This marks the third time this year that Goldman Sachs strategists have raised their earnings projections for South Korea.

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