0234 GMT - The selloff in ADRs of Korean companies is unlikely to continue after South Korea's surprise brief period of martial law, says Lorraine Tan, regional director at Morningstar, in a note. The short-lived martial law declaration highlights that political risks and leadership issues remain a factor in South Korea, Tan says. Morningstar maintains its fair value estimates for South Korean companies under its coverage, as it sees the situation as a short-term event. "We think share price weakness is an opportunity to buy selectively," Tan says. SK Hynix is preferred as it benefits from artificial intelligence-related server demand, Tan adds. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
December 03, 2024 21:34 ET (02:34 GMT)
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