KOSPI Expects W-Shaped Trading Range of 7,550-8,400 Points Through Late July Amid AI CAPEX Wait

According to Shinhan Investment on July 8, KOSPI is expected to trade within a "W-shaped" range, with support at 7,550-7,650 points and resistance at 8,300-8,400 points through late July, as the market awaits big tech companies' artificial intelligence capital expenditure guidance.

Despite Samsung Electronics posting Q2 operating profit of 89.4 trillion won, exceeding market expectations, the stock lacked momentum following the earnings release. Shinhan Investment analyst Roh Dong-gil noted the market's focus has shifted to Q3 earnings outlook and the need for confirmation on AI investment continuation, as investors increasingly doubt growth sustainability beyond 2027.