亚洲量化策略：是时候加倍投资韩国股票了

11 June 2025Asia Quantitative StrategyAsia Quant Strategy: Time to double-down on Korean equitiesRupal Agarwal+65 6326 7641rupal.agarwal@bernsteinsg.comCheng Zhang, CFA, CQF+852 2123 2636cheng.zhang@bernsteinsg.comWe have been positive on Korean equities since the beginning of the year and re-iteratedour preference post Liberation-day tariff reprieve; driven by cheap valuations but moreimportantly, a broad-based earnings recovery cycle (see here, here). Korea has turnedout to be the best Asian market YTD, up 25%, and we believe it is time to double-down onthe exposure as Korea is heading towards an earnings upgrade cycle and global investorinterest is expected to increase led by cheap valuations and a boost to the reform agendaunder President Lee. We recommend picking value stocks in Korea as they are showingimproving earnings momentum, are well positioned for domestic recovery and tends to bethe best exposure to own when Asia outperforms US.Time to double down on Korean equities: Impr