Global investment giant Goldman Sachs said Monday it remains optimistic about South Korean markets despite North Korea's recent attack on the South, saying the South's markets are fundamentally strong, Yonhap News agency reported.
Timothy Moe, chief strategist at Goldman Sachs, said in a press conference that recent geopolitical tensions on the Korean Peninsula sparked by North Korea's abrupt attack on a South Korean island last month are likely to have a short-lived impact on markets.
Moe said, "If we look at the chart of the Korea Composite Stock Price Index (KOSPI) literally from when it started in late 1960 up until now, other than a one- or two-week period, there is virtually no lingering relationship between North Korean news and the performance of the South Korean equity market," according to Yonhap.