Jefferies: South Korea Stock Market Pullback is 'Natural and Healthy' Amid AI Fatigue

According to a research report by Jefferies, the bank's global equity strategy head Christopher Wood said South Korea's recent stock market pullback is "natural and healthy." Wood noted that amid AI fatigue sentiment, investors are shifting toward cheaper value stocks that haven't participated in AI-driven rallies. He added that the "selling shovels" trade remains promising as AI capital expenditure competition continues, with upstream suppliers positioned as the biggest beneficiaries.
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