Morning Update: HUF Webcast, BRL Analysis, North Asia Equities and Macro Markets

Goldman Sachs analysts remain overweight on North Asian equities, raising the KOSPI target to 12,000 on massive earnings growth, while monitoring a potential correction in the BRL and the progression of Hungary's Euro convergence.

Key Takeaways

• 1.The investment case for Hungary joining the Euro by 2030 is gaining momentum, with analysts targeting a move in EUR/HUF toward 335-350.
• 2.North Asia equities, particularly Korea and Taiwan, are preferred due to strong earnings growth; the KOSPI target is raised to 12,000.
• 3.Brazilian Real (BRL) faces a potential correction due to heavy long positioning, strong US data, and worsening local fiscal/election narratives.

Table of Contents

• 1) HUF Webcast Key Takeaways
• 2) EM FX TRADING (CHOHFI) – BRL: Scope For A Larger Correction?
• 3) ASIA PORTFOLIO STRATEGY (MOE) - North Asia Update & 12k KOSPI Target
• 4) TONY PASQUARIELLO – Markets / Macro

Document Preview

Page 1 of 1

Subscribe for full accessStart Free Trial