[Goldman Sachs: AI Spending Benefits Can't Offset Selling Pressure on Korean Stocks, Leveraged ETF Size Halved from Peak] Odaily Planet Daily News – Goldman Sachs stated in its latest weekly report on the Korean market that despite foreign investors recently buying into KOSPI for consecutive sessions and Alphabet raising its AI capital expenditure forecast, which reinforces the semiconductor demand narrative, the Korea Composite Stock Price Index still fell by about 2% last week. Goldman Sachs pointed out that foreign capital inflows are mainly concentrated in the technology sector, but the Korean market continues to face medium-term capital outflow pressures, with foreign holdings in the semiconductor sector near historical lows. Additionally, the 12-month forward EPS forecast for KOSPI has been revised down by 0.4%, with the automotive sector facing the greatest pressure for earnings forecast adjustments. In terms of leveraged funds, the balance of retail investor financing in Korea has dropped from a peak of $25 billion to $22 billion, while the size of leveraged ETFs has decreased from $53 billion to $26 billion. Goldman Sachs believes that AI capital expenditure remains a key supporting factor for the Korean stock market, but downward revisions in earnings forecasts, low foreign positioning, and fluctuations in risk appetite may continue to amplify short-term volatility in the index.