South Korea-focused ETFs are on the rise again. As of the latest update, Samsung Global Semiconductor (03132) has increased by 4.7% to HKD 62.8; TR Korea (02848) is up 4.43% to HKD 1,897; E Fund Asia Semiconductor (03486) has gained 3.05% to HKD 20.96; and CSOP Hong Kong & Korea Technology (03431) has risen 1.91% to HKD 10.65.

In related news, JPMorgan's latest research report has raised its target for the KOSPI benchmark from 7,000 points to 9,000 points, with its bull scenario target lifted from 8,500 points to 10,000 points. Notably, this marks the second time in less than a month that JPMorgan has increased its target for the South Korean stock market, reflecting improvements in the semiconductor cycle, corporate governance reforms, and growth in the industrial sector.

As of May 11, the KOSPI index surged over 4% during intraday trading to hit a record high, with SK Hynix and Samsung Electronics also reaching new peaks. JPMorgan noted that, from a short-term technical perspective, the current market rally appears overextended. However, key fundamentals remain robust, and the memory chip market is expected to enter a sustained upturn over the next two years, driven by average selling prices and volume growth. Therefore, it advises maintaining positions to capture further upside potential and avoiding premature expectations of a cycle peak.