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00:30
Aug 23
Aug 23
005930.KS
000660.KS
▾
HIGH
Hold Samsung; buy dips, announcement not bad.
Samsung Electronics' shareholder return announcement was not fundamentally bad; the stock fell because the market had already priced in aggressive expectations after SK Hynix's large buyback/cancellation, and the announcement left part of the return plan to be decided early next year. The company confirmed a 90-110 trillion won shareholder return program, including 30 trillion won of dividends and roughly 70 trillion won to be allocated in January, plus a 15 trillion won buyback for employee compensation that can still support the share price. The speaker holds the stock, says even holders from 300,000 won need not sell, and would add on further dips; macro-driven weakness would be a buying opportunity. The remaining 70 trillion won decision is a potential upside catalyst, especially if more buyback/cancellation is included.
005930.KS LONG
SK Hynix buyback/cancellation gives stronger floor.
SK Hynix's already announced 40 trillion won buyback and cancellation program through November 19 gives the stock much stronger downside support than Samsung Electronics. The company can increase buyback volume when the stock pulls back, which should make the bottom firmer. This is a cleaner and stronger shareholder return setup than Samsung's mostly dividend and employee-compensation buyback plan.
000660.KS LONG
HIGH
23:30
Aug 22
Aug 22
012450.KS
Korean Shipbuilding
042660.KS
FAN 1ST
TAN
▾
HIGH
US howitzer replacement selection opens massive market.
Hanwha Aerospace was selected as the sole preferred bidder for the US M777 self-propelled howitzer replacement sample test. This is highly meaningful as it marks a breakthrough into the US market, which could lead to massive follow-on orders of up to 480 units and potentially the M109 Paladin replacement, especially since US domestic manufacturing is too expensive and lacks superior performance.
012450.KS LONG
US naval capacity constraints uniquely benefit Korea.
Korean shipbuilders are structurally the only viable partners for US naval construction and auxiliary ships because the US lacks capacity, building only 1-2 ships a year, and Japan has no available dock space. Furthermore, they are uniquely positioned to benefit from future Floating Data Center (FDC) demand. Despite improving earnings, the sector is currently ignored due to market liquidity being concentrated elsewhere.
Korean Shipbuilding LONG
US shipyard presence offers naval contract advantages.
Hanwha Ocean is uniquely positioned as the only Korean shipbuilder with a US shipyard, making it a prime candidate for US naval MRO and auxiliary ship projects. Its valuation has become very attractive, trading at roughly 10x 2028 forward earnings based on current trajectories, though the stock is currently suppressed by weak market liquidity and a lack of immediate concrete orders.
042660.KS WATCH
US industry consolidation benefits remaining tower makers.
The wind energy sector is showing strength, with Vestas near multi-year highs and recent legal victories against government project cancellations in the US. Furthermore, industry consolidation—where two out of four tower manufacturers in the US have withdrawn—leaves the remaining players positioned to benefit significantly from reduced competition.
FAN LONG
US tariffs on China boost Korean solar.
Solar is the fastest energy source to deploy for AI data centers. Korean solar value chain companies are benefiting from US tariffs and regulations blocking Chinese polysilicon. With the US lacking domestic polysilicon production, Korean firms are gaining attention, their earnings have bottomed out, and forward estimates are rising.
TAN LONG
US lacks nuclear experience, needing Korean partners.
The US has not built nuclear plants since 1978 and lacks the necessary experience, forcing them to partner with experienced Korean construction companies for new projects like SMRs. However, the sector faces political risks depending on the US midterm elections, making renewable energy a preferred investment over nuclear at this moment.
Korean nuclear WATCH
HIGH
11:00
Aug 22
Aug 22
005930.KS
000660.KS
LS Corp
COPPER 1ST
GLD 1ST
▾
HIGH
Buybacks cushion Samsung and SK Hynix downside.
SK hynix announced a 40 trillion won buyback with full cancellation and committed to returning at least 50% of free cash flow, which could reach about 90 trillion won this year. Samsung Electronics announced a larger 90-110 trillion won shareholder return plan, but the market was disappointed because its buyback portion is smaller, is mainly for employee compensation, lacks immediate large-scale cancellation, and is dividend-heavy rather than buyback-focused. Structurally, the shareholder return difference favors SK hynix over Samsung Electronics.
005930.KS LONG
000660.KS LONG
Rising copper benefits LS Corp.
Copper prices are rising strongly, and wire companies benefit by selling copper-heavy inventory produced at lower prices into higher copper prices because copper is more than 50% of input. LS Corp is her preferred idea: third-quarter operating profit beat expectations at about 590 billion won versus a 490 billion forecast, and subsidiaries LS-Nikko Copper and LS MnM add copper refining exposure, but the stock has not fully reflected the earnings surprise.
LS Corp LONG
COPPER LONG
Gold, silver, copper remain strong.
Commodities were the strongest sector: gold broke above 4,600 dollars to a record high, silver and copper rose near 2%, and the commodity complex is showing notable relative strength. The speaker sees the precious and base metals trend as a continuing leadership area.
GLD LONG
SILVER LONG
Lithium rebound lifts Korean battery stocks.
Lithium carbonate prices broke their downtrend and jumped more than 4% in China, while Chinese and US lithium/battery names rallied. Supply fears are easing because Chinese mines are not restarting in August-September, lithium inventory is only about three weeks, and ESS demand is strong. Korean battery names were over-sold and should rebound, with materials such as L&F and POSCO Future M likely leading, followed by cell makers Samsung SDI and LG Energy Solution. The speaker views the depressed area as a buy zone.
006400.KS LONG
L&F LONG
003670.KS LONG
Robotaxi approval boosts Tesla.
Tesla surged more than 5% after Nevada allowed 5,000 Cybercab robotaxi vehicles to operate, providing a concrete autonomous-driving regulatory and operational catalyst. With an autonomous driving industry conference and robot-related events next week, Tesla and related autonomous/robot names can stay supported.
TSLA LONG
Trump catalyst fuels crypto rally.
Bitcoin, Ethereum and altcoins are rallying because money rotated into crypto and Trump pressured Congress to pass the CLARITY Act quickly, threatening administrative support if not. September CLARITY Act expectations add momentum, and related US names Coinbase, Robinhood and MicroStrategy jumped. Korean crypto-linked names could see continued volatility next week.
BTC LONG
ETH LONG
COIN LONG
HOOD LONG
MSTR LONG
Naver offers steadier crypto exposure.
Naver has accumulated crypto-related momentum because of its planned Dunamu acquisition in the second half, but its large market cap has limited the share price reaction so far. For investors who want steadier crypto exposure than high-volatility coin-related names, she prefers Naver.
035420.KS LONG
Korean healthcare is a buy zone.
Global healthcare and biotech stocks are making new highs, but Korean healthcare and biotech names sold off without clear bad news and remain relatively weak. The speaker views KOSDAQ around the early 800 level as a buying zone, with additional buying near 700 mid-to-high if 800 breaks, while staying positive on healthcare and biotech.
KOSDAQ LONG
Korean healthcare/biotech stocks LONG
Insurance and banks remain defensive.
Insurance and bank stocks remain strong as rate-hike beneficiaries and defensive sectors. They act as market hedges, getting sold when markets are strong and bought when markets weaken, so they deserve continued attention.
KBE WATCH
Korean insurance stocks WATCH
Robot stocks get pre-event momentum.
Next week's autonomous driving industry conference and Hyundai Motor CEO Investor Day on Wednesday are catalysts that should generate pre-event momentum in robot-related Korean stocks. The autonomous driving theme is largely a robot keyword, so robot names could move before the investor day.
Korean robotics stocks WATCH
005380.KS WATCH
HIGH
10:00
Aug 22
Aug 22
TLT 1ST
000660.KS
SPY 1ST
005930.KS
AI value chain
▾
HIGH
Treasury buyback won't fix long-term yields.
The Treasury buyback cannot fundamentally stabilize long-term Treasury yields because it does not reduce total US government debt; it merely replaces long-term debt with short-term bills, and the market has already recognized the Treasury's limited capacity. Without the Fed explicitly acting to control or lower yields, a durable decline in long-term yields is unlikely, so long-term Treasuries remain difficult.
TLT AVOID
Shareholder returns floor, not upside catalyst.
SK Hynix and Samsung Electronics shareholder return programs provide downside support and can put a floor under the stocks, but they are not a new upside catalyst. The stocks face accumulated overhead supply and exhausted AI/memory stories, so he expects rangebound action rather than a move back to prior highs. He holds only to avoid FOMO and would sell on good news that fails to lift prices.
000660.KS WATCH
005930.KS WATCH
US equities unlikely to crash now.
Despite long-term Treasury yield pressure and a hawkish Fed, he believes US equities are not in a seriously bad situation. The stock market is still near record highs and has not fallen enough to force the Fed to intervene, so a large crash from this yield issue alone is unlikely.
SPY LONG
AI regulation won't stop AI boom.
AI data center regulation is not a fundamental blocker for the AI investment cycle because much of the delay already comes from energy and power equipment shortages; even if regulators allow data centers, many projects cannot be completed due to energy constraints. He remains constructive on the AI theme and expects the AI value chain to continue.
AI value chain LONG
Substrates and MLCC benefit from AI.
Because AI hardware investment continues even though memory stocks have repriced, he expects related non-memory AI hardware themes such as substrates and MLCCs to do well. The underlying AI infrastructure buildout is not over, so these supply-chain areas should benefit.
Korean MLCC sector LONG
Korean substrate sector LONG
Samyang Foods has steady overlooked growth.
Samyang Foods is a specific ignored consumer/export name with a history of steady growth in its financial statements. It was overshadowed by the memory trade, and now that consumer names are emerging from that shadow, he is looking at it as an investment candidate.
003230.KS LONG
Buy Korean cosmetics export earners.
Korean cosmetics and consumer export stocks are attractive because their earnings have been solid while the market was focused on memory. Cosmetics is Korea's strongest export consumer category, and he is now watching cosmetics-related names as memory leadership fades.
KORU LONG
Avoid Korean domestic-only stocks.
Korean domestic-demand-only stocks are risky because Korea's domestic market alone is not enough to support them. He prefers export-driven companies with earnings and implies investors should avoid domestic consumption names without export exposure.
Korean domestic demand stocks AVOID
HIGH
08:00
Aug 22
Aug 22
XLK 1ST
005930.KS
000660.KS
NVDA
BLK 1ST
▾
HIGH
Liquidity tightening concentrates funds into AI leaders
Kim argues that the post-pandemic abundant-liquidity era is ending as long-term rates rise in the US, Japan and Europe. Rather than selling everything, investors rotate into the most reliable 'ace' assets, and he expects global funds to concentrate even more into AI in the near term, even if this becomes a bubble.
XLK LONG
Samsung and SK hynix are Korean aces
Outside semiconductors, Korea has no comparable earnings or growth story. As liquidity tightens, money is forced into the few reliable large-cap winners, and Samsung Electronics and SK hynix are the names still showing strength and attracting AI-related flows.
005930.KS LONG
000660.KS LONG
Nvidia earnings beat may lack surprise power
Nvidia has beaten estimates for years, so a good result is now treated as normal. Kim believes even an in-line or modestly above-consensus earnings report is unlikely to cause a strong additional rally because expectations are already extremely high.
NVDA WATCH
AI infrastructure securitization attracts institutional money
Kim views the Nvidia/BlackRock/KKR/Brookfield AI infrastructure financing as a chip-backed securitization similar to MBS. It shifts GPU and datacenter-related debt and risk to pension funds and sovereign wealth funds, easing circular-financing concerns, while datacenter demand provides relatively steady yields. He rates the news as more important than the market did and expects it to pull institutional money into AI infrastructure near term.
BLK LONG
KKR LONG
BEP LONG
GS LONG
US long-term yields stay elevated, risk persists
Kim says US 10-year and 30-year Treasury yields have kept rising regardless of Fed rate freezes and oil-price declines, reflecting fiscal sustainability and sticky-inflation concerns. He sees no special measure that will bring long-term yields down sharply; if the Fed resumed buying Treasuries, long-term yields could rise even more because liquidity would loosen and inflation would stay harder to control. Yields will keep intermittently hurting risk assets until the base rate is actually raised.
U.S. 10-year Treasury yield LONG
TLT LONG
HIGH
05:00
Aug 22
Aug 22
Korean battery makers
051910.KS 1ST
Korean NCM battery makers
Korean battery materials
003670.KS
▾
HIGH
US policy locks Chinese batteries out.
The U.S. is designating batteries and battery minerals as strategic security assets and moving to exclude Chinese supply from North America. Because Korean battery makers already operate U.S. joint ventures and are allied suppliers, Washington's attempt to build a domestic value chain will have to rely on them, so Korean battery share in North America should keep rising.
Korean battery makers LONG
Patent war becomes LG's profit weapon.
LG Energy Solution and LG Chem hold the world's largest battery patent portfolio, and LG is now aggressively enforcing it against Chinese makers like Sunwoda, BYD, and EVE Energy in Europe and the U.S., including fast ITC import-ban actions. This can force OEMs to switch to Korean batteries or pay royalties/indemnities, creating a Qualcomm-like royalty and defensive moat.
051910.KS LONG
High-power apps require Korean NCM batteries.
High-output applications such as humanoid robots, physical AI, drones, and eventually EVs require high energy density and high C-rate; LFP is too heavy and low-density for these uses. Unitree's use of LG Energy Solution ternary batteries confirms Korean NCM technology advantage in the emerging robot market.
Korean NCM battery makers LONG
Solid-state demands Korean NCM technology.
Solid-state batteries cannot be reached by jumping from LFP; they require ultra-high nickel ternary cathodes that are single-crystal and coated to withstand solid electrolyte interface resistance. Korean companies' ternary process experience and dry-room technology are transferable to sulfide solid-state manufacturing, giving them a critical edge in the solid-state transition.
Korean battery materials LONG
POSCO vertical integration secures LFP costs.
POSCO Future M's 190,000-ton LFP cathode supply contract should be cost-competitive because POSCO Group already has steel, phosphate, lithium, and upstream materials such as nickel, graphite, and carbon through POSCO International, creating an internal value chain that lowers costs as mass production scales.
003670.KS LONG
Exclusion and patents squeeze Chinese batteries.
Washington's battery security designation is effectively a policy to completely exclude Chinese batteries from North America, and LG's patent enforcement in Europe and the U.S. creates additional import-ban, royalty, recall, and indemnity risks for Chinese battery makers. OEMs will increasingly avoid Chinese batteries or demand costly indemnities, eroding their cheap-price advantage.
1211.HK AVOID
EVE Energy AVOID
Chinese battery makers AVOID
HIGH
02:00
Aug 22
Aug 22
005930.KS
NVDA
000660.KS
▾
HIGH
Hold Samsung/SK Hynix into next week
Korean large-cap semiconductor complex (Samsung Electronics and SK Hynix) is in a favorable near-term momentum window and existing holders should keep positions at least through next week, as foreign cash buying is concentrated in these large caps while a dense upcoming event calendar—Hot Chips memory/AI sessions, Samsung's expected shareholder return announcement, and NVIDIA earnings—can keep expectations elevated. A short-term sell-on-news dip is possible around NVIDIA earnings, but the broader trend is not seen as reversing.
005930.KS LONG
000660.KS LONG
NVIDIA earnings key catalyst for semis
NVIDIA's upcoming earnings are the most important near-term event for Korean memory and semiconductor stocks; the market can keep pumping on expectations into the release, with key items being next-quarter revenue and margin guidance, potential upward revisions to Blackwell Ultra and Vera Rubin supply timelines, and whether China H200/H210 sales are recognized. A sell-on-news pullback may occur, but it is not viewed as ending the trend.
NVDA WATCH
HIGH
23:30
Aug 21
Aug 21
005930.KS
EWY
KOSDAQ 1ST
000660.KS
▾
HIGH
Samsung buyback/cancellation can normalize Korean stocks
Samsung Electronics should sharply expand share buyback and cancellation instead of relying on cash dividends. Cash dividends are one-off transfers and about half would go to foreign investors after dollar conversion, pressuring the won. Buyback and cancellation reduce the share count, raise EPS and fundamental value, avoid that FX-driven outflow, and can help distribute supply so money rotates into neglected sectors. He views this as a potential starting point for normalizing the Korean stock market.
005930.KS LONG
EWY LONG
KOSDAQ lacks fundamentals and policy support
KOSDAQ's recent strength was not fundamentally driven; it came from leveraged KOSDAQ 150 flows filling a supply gap after Samsung/Hynix leverage restrictions. The market remains unstable because future-value themes do not work in a high-rate, noisy environment with persistent supply outflows, while government policy has not followed through. KOSDAQ needs institutional differentiation based on actual post-IPO performance and use of proceeds, not just penny-stock delisting, before it can sustain an uptrend.
KOSDAQ AVOID
Memory peak-out fears are premature
Memory peak-out worries are premature. Hyperscalers have addressed cash-flow constraints by forming joint ventures with financial institutions and venture investors, shifting some investment burden off their balance sheets. That may create future bubble risk but for now intensifies competition and demand. HBM supply is already reported as nearly sold out through 2028. Therefore, memory is not yet at a peak even though volatility and stress will continue.
000660.KS LONG
HIGH
11:00
Aug 21
Aug 21
000660.KS
005930.KS
034020.KS 1ST
083650.KQ 1ST
064260.KQ 1ST
▾
HIGH
Daily buybacks provide strong price support.
SK Hynix is demonstrating strong price defense because the company is actively executing daily buybacks, placing orders worth about 1 trillion won daily. Furthermore, their shareholder return policy sets a minimum of 50% of free cash flow, which encourages the market to anticipate even higher returns of 70-80%, creating a strong valuation floor.
000660.KS LONG
Historic shareholder returns will drive re-evaluation.
Although the market was initially disappointed by Samsung Electronics' shareholder return announcement because it capped returns at 'up to 50%' of free cash flow and stretched the timeline, the absolute size is historically massive. With next year's free cash flow expected to grow by over 50%, the stock is likely to experience a positive re-evaluation in the near future.
005930.KS LONG
US energy investments boost nuclear equipment suppliers.
The South Korean government is expected to announce US-bound energy investments around late August or early September to appease the Trump administration's demands for faster project progress. This initiative will focus on Small Modular Reactors (SMRs) and gas combined cycle power plants, directly benefiting nuclear equipment and gas turbine suppliers like BHI and Doosan Enerbility.
034020.KS LONG
083650.KQ LONG
Digital Asset Act passage benefits payment companies.
The ruling party is pushing to pass the Digital Asset Act in the September National Assembly session. The passage of this bill will provide regulatory continuity and spark new business expectations for stablecoin and payment companies that have been stagnant for over a year, benefiting stocks like Danal, ITCEN, and Coocon.
064260.KQ LONG
124500.KQ LONG
294570.KQ LONG
Government push accelerates regional semiconductor cluster construction.
The President is demanding monthly progress checks on the Honam semiconductor cluster, pushing for rapid development. This top-down pressure will accelerate construction and infrastructure build-outs, specifically benefiting regional construction firms and HVAC suppliers like Samsung Climate Control.
006660.KS LONG
Anthropic stake value surged ahead of IPO.
Anthropic is currently seeking an IPO at a valuation higher than SpaceX. SK Telecom invested $100 million in Anthropic three years ago, and the value of this stake has reportedly surged 50 to 60 times. This massive valuation gain will provide strong upward momentum for SK Telecom's stock, similar to how venture capital firms rallied during the SpaceX IPO.
017670.KS LONG
HIGH
09:00
Aug 21
Aug 21
KARS 1ST
EWY
Korean sodium/LMR battery materials and components
High-density NCM/solid-state battery companies
006400.KS
▾
HIGH
Buy Korean battery stocks now.
Korean battery stocks are at a bottom/turnaround and the recent vertical pullback from semiconductor-driven supply disruption left no room for earnings improvement to be priced. Earnings are starting to improve, Samsung SDI already swung to profit, and the sector should show clearer inflection from Q4 this year into next year. Because share prices tend to lead fundamentals by about six months, investors should accumulate battery names whose earnings are improving now.
KARS LONG
ESS demand boosts K-battery makers.
China's dominance is already priced into Korean battery valuations. The US is successfully blocking Chinese batteries/EVs, and Europe is finalizing its Industrial Acceleration Act because Chinese EVs are damaging its auto industry. With Europe lacking domestic battery champions, Korean companies are the natural replacement to fill the gap, supporting a positive K-battery view.
EWY LONG
Buy sodium/LMR battery suppliers.
Because LFP is China-dominated and Korea cannot win on cost, the next Korean battery opportunity is sodium and LMR platforms where the market is not yet formed. LG Energy Solution and Samsung SDI are already pushing sodium mass-production investment, with test lines likely next year, and Han recommends investing in related material and component suppliers.
Korean sodium/LMR battery materials and components LONG
Battery applications expand beyond EVs.
Battery applications are broadening rapidly beyond EVs into humanoid robots, drones, electric aircraft, and ships. High-density ternary batteries are improving enough to meet these new demands, and solid-state should follow. In a 10-20 year view battery penetration will be far larger, so current moves in battery stocks are small relative to the long trend.
High-density NCM/solid-state battery companies LONG
ESS demand boosts K-battery makers.
ESS demand is becoming the near-term driver for Korean battery makers because AI data centers require lithium-ion energy storage to stabilize highly volatile power loads. LG Energy Solution and Samsung SDI are reporting ESS revenue growth of 20-30%, and US ESS capacity expansion and LFP conversion are improving conditions into next year even while EV demand remains weak.
006400.KS LONG
HIGH
08:00
Aug 21
Aug 21
005930.KS FLIP
000660.KS FLIP
CXMT 1ST
YMTC
MU 1ST
▾
HIGH
Korean memory faces CXMT substitution risk.
Jeon argues CXMT is already a real threat to Samsung Electronics and SK hynix. HBM is only 25-30% of DRAM, while the rest is commodity memory where CXMT is gaining. CXMT's listing raised roughly 12 trillion won, far above the expected 4 trillion won, and it briefly became China's largest market cap around 700 trillion won, surpassing ICBC. This gives CXMT capital-market funding for R&D and capacity. It already mass-produces HBM2, is testing HBM3, and makes DDR5, while China is also developing immersion DUV equipment. Because China is the largest memory consumer and CXMT can substitute domestic demand, Korean memory makers risk losing sales. If CXMT doubles or triples capacity over the next 2.5-3 years just as memory enters a downcycle, Korean memory faces falling prices and market share losses.
005930.KS AVOID
000660.KS AVOID
CXMT is a funded memory champion.
CXMT has moved from government support to large-scale capital-market funding, making it a structurally stronger memory competitor. Its IPO raised far more than expected, its market capitalization reached about 700 trillion won and briefly surpassed ICBC, and because the Chinese government still holds a high stake it can sell 10-20% more shares without losing control. This gives CXMT powerful R&D and capacity-expansion firepower. Its technology is also catching up quickly: HBM2 is already in mass production, HBM3 is being tested, DDR5 is being produced, and China is developing immersion DUV lithography equipment. Jeon sees CXMT as a clear Chinese memory winner and serious threat to incumbents over the next 3-5 years.
CXMT LONG
YMTC leads NAND stacking, serious threat.
YMTC is a similarly serious NAND threat, arguably stronger than CXMT is in DRAM. YMTC already holds about 14% of the NAND market, higher than CXMT's roughly 8% DRAM share. Its edge is in ultra-high-layer NAND and 3D stacking/package technology; Jeon says YMTC is the fastest at stacking and can compete with Western firms. As NAND moves toward 400+, 600+, or even 1,000 layers, that 3D stacking advantage becomes structural. He expects YMTC's listing to deliver a CXMT-like shock to Korean memory names.
YMTC WATCH
Micron's US fab is structurally unprofitable.
Micron is not a realistic US memory-manufacturing champion. Jeon says memory production left the US decades ago and Micron is American only in name and brand while actual production is mainly in Japan and Taiwan. A US fab is structurally unprofitable because memory requires 24/7 shift work, but once per-capita income exceeds roughly $25,000 shift industries struggle, and US incomes are around $83,000-90,000. The US also lacks the skilled workers and yield culture needed. Therefore, forcing US memory production via Micron is economically unviable and is being used as political leverage on Korea.
MU AVOID
HIGH
07:00
Aug 21
Aug 21
000660.KS
005930.KS
KBE 1ST
105560.KS
017670.KS FLIP
▾
HIGH
Massive buybacks will drive EPS and re-rating.
SK hynix's massive share buyback and cancellation program will significantly reduce outstanding shares and boost EPS over the coming years. Samsung Electronics is also expected to announce large shareholder returns. Holding these stocks into the first half of next year could lead to a valuation re-rating and overshooting as the market recognizes their enhanced shareholder value.
000660.KS LONG
005930.KS LONG
Foreign selling creates buying opportunities for banks.
Bank stocks are strong domestic demand plays and benefit from higher interest rates. Recent foreign selling to fund semiconductor purchases has created a buying opportunity, making banks like KB Financial Group attractive if they hold their support levels.
KBE LONG
105560.KS LONG
Foreign ownership limits cap upside around 100,000.
Despite efforts to rebrand as an AI and data center company, the market still treats SK Telecom as a defensive stock. Its upside is capped around 100,000 won due to the 49.9% foreign ownership limit, which triggers selling pressure whenever the stock rises.
017670.KS AVOID
Buy US crypto stocks for stablecoin growth.
US stablecoin regulations or self-regulation will likely advance because stablecoins help absorb US Treasuries and lower interest rates. Instead of trading volatile Korean crypto theme stocks, investors should focus on direct US beneficiaries like Coinbase.
COIN LONG
Watch Kakao AI post-spinoff for software rally.
Kakao's stock plummeted after announcing a spin-off into Kakao X and Kakao AI. While currently lacking visible investment appeal, Kakao AI (handling Talk, ads, and commerce) could be worth watching for a potential software and AI sector rally after the spin-off takes effect next year.
035720.KS WATCH
HIGH
04:00
Aug 21
Aug 21
EWY
005930.KS
Korean semiconductor materials, parts, and equipment
000660.KS
▾
HIGH
KOSPI bottom formed; buy in installments.
He argues the Korean equity market's July correction is largely complete and the market has already formed a bottom. A September US rate hike is very unlikely, and he advises phased buying into weakness for a 2027 horizon rather than viewing the rebound as a dead-cat bounce.
EWY LONG
Samsung/SK Hynix cheap; still going higher.
He argues Samsung Electronics and SK hynix are not finished but are stepping down from their leadership role. He sees their earnings power and valuations as extremely cheap relative to still-high margins and believes they can return to prior highs over time; current weakness is a phased buying opportunity rather than a terminal breakdown.
005930.KS LONG
000660.KS LONG
Korean semiconductor suppliers better near-term play.
He prefers Korean semiconductor materials, parts, and equipment to Samsung/SK hynix for new money at current prices because the memory majors are entering a capex and capacity-investment phase, and that spending is a direct earnings driver for suppliers. The July selloff has also reset supplier prices to more attractive levels.
Korean semiconductor materials, parts, and equipment LONG
HIGH
02:30
Aug 21
Aug 21
US10Y 1ST
US30Y 1ST
EWY
000660.KS
BTC
▾
HIGH
High long-term Treasury yields are new normal
US long-term Treasury yields are unlikely to return to previous low levels because debt continues to grow and government buybacks only stabilize the market, not solve the deficit; elevated long-term yields are becoming the new normal.
US10Y LONG
US30Y LONG
Buy Korean equity dips today
After the prior day's surge, today's KOSPI may see some profit-taking and digest supply, but the overall trend is not broken; the government will keep intervening to suppress Treasury yields, so pullbacks should be viewed positively as buying opportunities.
EWY LONG
SK Hynix buyback supports downside
Despite US data center construction delay and protest concerns, Korean semiconductor names such as Samsung Electronics and SK Hynix have already corrected significantly, confirmed bottoms, and are only digesting upper supply; downside is limited, so current weakness is more a pause than a trend reversal.
000660.KS LONG
Crypto rally driven by regulation, short squeeze
Bitcoin's recovery above $70,000 is supported by US regulatory tailwinds, including Trump pressing for Clarity Act and stablecoin rules, and is amplified by massive short liquidation; Ethereum, Solana and other majors are rallying with it, reflecting a near-term favorable crypto regime.
BTC LONG
ETH LONG
SOL US AI Software ETF LONG
Coinbase, Robinhood benefit from crypto rally
Crypto exchange and brokerage stocks such as Coinbase and Robinhood rally when crypto prices rise because crypto prices are the most direct driver of their earnings; the current crypto bounce supports their share prices.
COIN LONG
HOOD LONG
Korean crypto names only short-term theme
Korean crypto-related names such as Hecto Financial, LG CNS and ITCEN Global can trade as a short-term theme when the broad market is weak, but they are highly volatile; once the short-squeeze effect fades, they are likely to pull back, so only short-term trading makes sense.
234340.KQ WATCH
LG CNS WATCH
124500.KQ WATCH
Korean power infrastructure cycle remains valid
Korea's 12th power supply plan raised needed electricity capacity by 26.8 GW, equivalent to 19 large nuclear reactors, driven by AI data centers and megaprojects; power infrastructure, transmission and distribution demand remains in a valid cycle despite recent data center delay-related corrections.
Korean power infrastructure LONG
Korean semis bottomed; downside limited
Samsung Electronics is expected to announce record shareholder returns of 150–160 trillion won as the only major memory/semiconductor name yet to follow SK Hynix; the plan should include special dividends and large buyback/cancellation, funded by FCF, and could become a Korea value-up catalyst into next week's Nvidia earnings-driven momentum.
005930.KS LONG
HIGH
00:50
Aug 21
Aug 21
232560.KQ 1ST
064260.KQ
001510.KS 1ST
060720.KQ 1ST
035420.KS
▾
HIGH
Stablecoins benefit from US regulatory momentum.
Stablecoin and crypto-related stocks are expected to benefit from the momentum of the US Clarity Act and the structural shift towards agentic AI, which will likely utilize stablecoins for seamless transactions.
232560.KQ LONG
064260.KQ LONG
035420.KS LONG
119830.KQ LONG
094480.KQ LONG
060250.KQ LONG
SK Securities benefits from SK Hynix buybacks.
SK Securities is highly likely to be used as the broker for SK Hynix's massive share buyback program, which will provide downside rigidity and steady capital inflow for the stock.
001510.KS LONG
Foldable component suppliers benefit from market expansion.
Suppliers of foldable phone components are poised to benefit from the expansion of wide foldable models by Samsung and the anticipated entry of Apple into the foldable market.
060720.KQ LONG
106240.KQ LONG
090460.KS LONG
007660.KS LONG
Gold hedges against US fiscal deficit risks.
Gold is an attractive asset to hold as a hedge against ongoing US fiscal deficit issues and macroeconomic uncertainties, with the KODEX Gold ETF being a practical vehicle for domestic investors.
132030.KS LONG
GLD LONG
Accumulate Hyundai Motor Group on valuation dips.
Hyundai Motor Group stocks have lagged the broader market but are becoming attractively valued; accumulating them on dips is a sound strategy for when their valuation is eventually reassessed.
005380.KS LONG
000270.KS LONG
US biotech offers defensive growth and cash.
US biotech stocks offer defensive characteristics and strong cash flows, making them an excellent rotational play if the broader tech sector undergoes a correction.
226490.KS LONG
XBI LONG
VIX below 15 is a good hedge.
The VIX tends to spike whenever it drops below the 15 level, making it a reliable risk management hedge for investors holding overseas stock portfolios.
VIX LONG
Power infrastructure benefits from rising AI demand.
Power infrastructure stocks remain in a structural upcycle due to the upward revision in power demand forecasts driven by AI data centers and mega projects.
Power infrastructure LONG
Hold 30% cash amid macro uncertainties.
Investors should maintain at least a 30% cash position to manage risks and navigate the high market volatility expected ahead of the US elections and potential fiscal noise.
CASH WATCH
Robotics offset labor risks and demographic shifts.
Robotics companies will see increased demand as large corporations aggressively adopt automation to offset labor strike risks, demographic changes, and the financial burden of shareholder returns.
289010.KQ LONG
277810.KQ LONG
389500.KQ LONG
108490.KQ LONG
090360.KQ LONG
455900.KQ LONG
Semi equipment stocks lead KOSDAQ earnings growth.
KOSDAQ semiconductor equipment stocks are replacing biotech and batteries as market leaders, driven by high operating margins and the trickle-down effect from Samsung and SK Hynix.
KOSDAQ Semiconductor Equipment LONG
Large builders benefit from government supply plans.
Large construction companies are poised to benefit from government housing supply plans in the metropolitan area, data center construction, and semiconductor cluster projects.
Large Construction Companies LONG
Cosmetic OEMs are undervalued despite export growth.
Cosmetic OEM and distribution companies are undervalued compared to finished brands and will continue to benefit from strong, uninterrupted US export growth.
257720.KQ LONG
192820.KS LONG
161890.KS LONG
Buy Hyundai Motor Group during strike consolidation.
Hyundai Motor Group stocks are currently depressed due to labor strike noise, but this consolidation phase presents an attractive buying opportunity for long-term investors.
012330.KS LONG
204320.KS LONG
314390.KS LONG
Hanmi Pharm leads domestic obesity drug market.
Hanmi Pharm is an attractive play in the obesity drug market as it prepares to launch the first domestic treatment this year, differentiating it from peers still in clinical trials.
128940.KS LONG
Optical communication benefits from CPO and SpaceX.
Optical communication stocks will benefit from SK Hynix's adoption of CPO (Co-Packaged Optics) and the momentum generated by SpaceX's massive AI data center investments.
218410.KQ LONG
327260.KQ LONG
138080.KQ LONG
032500.KQ LONG
Ottogi benefits from strong won and hikes.
Ottogi is well-positioned in the food sector as it benefits from the strong won, which lowers imported raw material costs, and upcoming price hikes for its cup noodles.
007310.KS LONG
HIGH
11:00
Aug 20
Aug 20
Korean semiconductor materials/equipment
000660.KS
EWY
Korea shareholder return theme
Korean low PBR cash-rich companies
▾
HIGH
Trade Korean semiconductor equipment/materials names.
Even on a day when Samsung Electronics and SK Hynix surged, other stocks such as semiconductor materials/equipment and KOSDAQ quality names participated, so liquidity is broadening; the speaker favors holding large-cap semiconductor names as core while actively trading Korean semiconductor materials/equipment names in this environment.
Korean semiconductor materials/equipment LONG
Buybacks and dividends support SK Hynix.
SK Hynix announced a large buyback equal to about 3.3% of market cap and is expected to buy roughly 700 billion won per day until early November; dividends are likely to lift total shareholder return above 5% annually, and JPMorgan reportedly sees the shareholder return cap expanded above 50% with at least 180 trillion won of additional capacity by next year. This creates a supply floor and leaves room for further upside.
000660.KS LONG
Korea value-up re-rating is starting.
Korea's discount has been driven by weak governance and shareholder returns; these issues are now being addressed through large buybacks, cancellations, and dividends, with political momentum behind related laws. If sustained, this can start a Korean re-rating in 2025-2026 and eventually support developed-market index inclusion.
EWY LONG
Korea shareholder return theme LONG
Low PBR cash-rich names become theme.
As the shareholder return theme strengthens, companies trading below 1x price-to-book with large net cash positions are likely to face rising pressure to return capital; this can become a standalone theme in the Korean market.
Korean low PBR cash-rich companies LONG
KOSDAQ Select index drives quality revival.
The new KOSDAQ Select Index will be based on actually profitable companies rather than pure market cap, reducing bio and robotics weight while increasing semiconductor materials/equipment weight; ETFs tracking it are likely to attract funds and make KOSDAQ trading easier from Q4, supporting a KOSDAQ revival.
KOSDAQ LONG
KOSDAQ LONG
Avoid leveraged ETFs amid residual volatility.
Single-stock leveraged ETF AUM has shrunk from about 18 trillion won to the mid-5 trillion won area, reducing market distortion, but volatility is not fully normalized; sharp gap moves make leveraged products dangerous, so the speaker says to avoid leveraged ETFs and use cash/spot positions until a clearer trend forms.
Single-stock leveraged ETF AVOID
Monitor SK Hynix ADR discount arbitrage.
The SK Hynix ADR discount to local shares narrowed from around 50% to 27%; the speaker expects a 20-30% band to persist and says arbitrage opportunities can be found there. For Korean investors, local SK Hynix shares are more attractive than the ADR because of taxes and the new shareholder return program.
SK Hynix ADR WATCH
Samsung shareholder return and cheap valuation.
Samsung Electronics is expected to follow with shareholder return measures; the stock is cheap on fundamentals and not a theme-driven rally, so even after a 50% technical rebound, selling is not required. First resistance is around 200,000 won, but shareholder return expectations should help firm the downside.
005930.KS LONG
HIGH
08:30
Aug 20
Aug 20
Energy storage systems
066970.KS 1ST
Korean battery makers in Europe
003670.KS 1ST
LITHIUM 1ST
▾
HIGH
K-battery wins as ESS demand explodes.
The U.S. is explicitly blocking Chinese batteries, so North American ESS demand is exploding and Korean battery makers are effectively the main non-China supply; this year and next, North American ESS battery demand will exceed EV battery demand, and ESS is shifting toward high-priced, high-spec AI data center and grid applications, which should drive Korean battery cell makers to higher utilization and share gains.
Energy storage systems LONG
POSCO Future M LFP demand stays tight.
POSCO Future M converted an existing line to LFP and secured a 190,000-ton LFP cathode contract worth about 3 trillion won over six years, implying roughly 500 billion won of annual revenue; FEOC rules require cell makers to source around 80 percent non-China cathode, so LFP cathode supply should stay tight and benefit POSCO Future M and L&F.
066970.KS LONG
003670.KS LONG
EU rules shift battery sourcing to Korea.
The EU Industrial Acceleration Act is effectively a Made-in-EU policy that will force automakers to cut Chinese battery procurement to 30 percent or less from current levels of 65 to 88 percent; European local battery plants are not yet viable, while Korean battery makers already operate in Hungary and Poland, so they should see European capacity utilization rise sharply as Chinese volumes are reallocated to Korean suppliers, reinforced by battery passport, carbon footprint, and critical raw material rules.
Korean battery makers in Europe LONG
Lithium bottomed; expect upward price trend.
Lithium prices fell to around $22/kg after supply bottlenecks eased in June, but Chinese lithium carbonate inventory days have fallen from about 40 to 19 days, global lithium demand is exploding, and UBS and the IEA see a third lithium supercycle with demand tripling by 2030; he expects lithium to bottom near $22 and trend upward in the second half.
LITHIUM LONG
K-battery wins as ESS demand explodes.
Korea is expected to pass a 10-year production tax credit for domestic battery production by year-end, possibly with third-party credit transfers; with the first renewable energy basic plan requiring about 10GW of renewable build per year and about 20GW of ESS, plus about 18GW of ESS for AI data centers, domestic demand of about 38GW exceeds full domestic capacity, so domestic cell production at Seosan, Ulsan, and Ochang should receive a large tax incentive and run at full capacity.
Korean battery cell makers LONG
Samsung SDI has funding, prismatic edge.
Samsung SDI has financial strength supported by its display business and a differentiated prismatic form factor advantage; although its North American capacity is smaller than LG Energy Solution's, its balance sheet and prismatic technology give it a distinct competitive edge among Korean cell makers.
006400.KS LONG
Battery materials and equipment follow shortage.
If a shortage develops, battery cells should tighten first, then the shortage should transfer to materials, and subsequent expansion should lift equipment suppliers; Korean battery makers have mostly expanded overseas, but domestic expansion will become inevitable as renewable targets are built, so battery materials and equipment names should get trickle-down benefits.
Korean battery materials and equipment LONG
HIGH
07:00
Aug 20
Aug 20
NVDA 1ST
AI Data Center Infrastructure
006360.KS 1ST
035420.KS
298040.KS 1ST
▾
HIGH
External private capital extends AI infrastructure buildout.
Nvidia's reported large private-market financing arranged by Goldman Sachs with investors such as BlackRock, KKR and Blackstone is a paradigm shift for AI data center funding. Unlike prior circular funding, equity issuance or bond issuance, this external capital does not dilute shareholders or pressure free cash flow. Data center GPUs/accelerators are now being underwritten like cash-flow-generating assets: Amazon has shown a data center can turn profitable after three years and be usable for ten years, and even a six-year-old Nvidia chip is being funded to run through 2029. This supports continued AI data center buildout and Korean supplier beneficiaries.
NVDA LONG
AI Data Center Infrastructure LONG
GS E&C gains from fast data center construction.
GS is building 2.4GW of data center capacity; it already has about 0.6GW and is constructing very quickly. This makes GS E&C a direct beneficiary of Korea's AI data center construction cycle.
006360.KS LONG
Naver is a smaller Korean data center play.
Naver announced 1GW data center capacity. Although the speaker notes Naver has the weakest financial resources among the Korean players, it also has a Saudi Arabia project and benefits from Korea's neutral geopolitical position for non-US demand, making it a relevant but less-capital-rich data center beneficiary.
035420.KS WATCH
Korean power equipment order cycle remains strong.
Power equipment is in a severe shortage with backlogs covering roughly three years of revenue. HD Hyundai Electric's operating profit is growing about 30% and Hyosung Heavy Industries about 40%. LS Electric raised its order target from 4.5 trillion won to 6 trillion won and has higher growth because US orders are moving from ultra-high-voltage transmission to distribution/panel boards. The cycle should remain strong for three to four years; valuations have already risen, so investors should be selective by growth, but the underlying order flow is still strong.
298040.KS LONG
010120.KS LONG
267260.KS LONG
Nuclear/SMR is a long-dated power beneficiary.
Nuclear power and SMRs are important long-term AI power beneficiaries. Bill Gates' visit related to TerraPower highlighted SK, HD Hyundai Heavy Industries and Doosan Enerbility as potential Korean nuclear-related beneficiaries. However, TerraPower completion is around 2030-31, so this is a long-dated theme rather than an immediate trade.
NLR WATCH
034020.KS WATCH
329180.KS WATCH
Renewables fill the near-term power gap.
Renewable energy, especially solar, is the fastest and simplest capacity to install. The speaker expects renewables to fill the near-term three-year power gap caused by AI/data center demand before nuclear SMR projects come online around 2030-31.
TAN LONG
Applied Materials and Lam Research ride equipment cycle.
Global semiconductor equipment leaders Applied Materials and Lam Research can keep riding the AI semiconductor expansion because capacity additions are global, including Tesla's announced fab that is starting near Samsung scale of 600k-700k wafers. Equipment cycles are longer than chip cycles because capacity buildouts take time.
AMAT LONG
LRCX LONG
Korean semiconductor equipment and materials lead KOSDAQ.
Korean semiconductor materials, parts and equipment is attractive because the equipment cycle is longer than the semiconductor cycle. China's CXMT is expanding from 300k to 600k wafers and is taking many Korean tools. Some Korean front-end equipment companies are expected to double profits into next year. Among KOSDAQ large caps, bio, secondary batteries and semiconductor materials/parts/equipment are the main groups, and semiconductor materials/parts/equipment has the strongest earnings; it would likely lead if KOSDAQ activation policies work. The main risk is that if big semiconductor stocks peak, small-cap materials/parts/equipment names could fall together.
Korean semiconductor materials/parts/equipment LONG
FCBGA substrate shortage supports Samsung Electro-Mechanics and LG Innotek.
AI accelerator/data center substrates, especially FCBGA, are in a supply shortage at least through end of next year. Substrate size is doubling and layer counts are rising from 10 to 20 as designs integrate components. Samsung Electro-Mechanics is a top-four FCBGA player and LG Innotek is cited as a substrate/packaging beneficiary; top Japanese and Taiwanese players are expanding 50-100%, but new capacity arrives starting second half next year, so caution is needed around next year's third quarter when supply may hit.
009150.KS LONG
SK Telecom becomes a data center growth stock.
SK Telecom/SK Group announced a 5GW Korean data center buildout; 1GW costs about 70 trillion won, so this is a massive multi-year investment requiring external partners. SK Telecom has been viewed as a no-growth cash-flow and dividend stock, but data center demand can turn it into a growth stock, with earnings potentially two to three times current levels over ten years. Korea's neutral geopolitical position also makes its data centers attractive to Southeast Asian and Middle Eastern customers wary of US data center dependence.
017670.KS LONG
HIGH
06:00
Aug 20
Aug 20
302440.KS
005935.KS
005930.KS
226950.KQ
Korean Pharma/Bio
▾
HIGH
Be cautious on domestic pharma and bio.
Despite the Moderna-driven spike, investors should be cautious on the domestic pharma and bio sector. The specific mRNA technologies differ among companies, and the sector's performance is heavily tied to the KOSDAQ index, which currently faces technical resistance.
302440.KS WATCH
226950.KQ WATCH
Korean Pharma/Bio WATCH
237690.KQ WATCH
196170.KQ WATCH
Preferred shares may benefit from dividend focus.
While generally preferring common shares, Samsung Electronics is speculated to focus more on dividends rather than buybacks or cancellations to avoid increasing Samsung Life Insurance's stake. Therefore, preferred shares could show stronger momentum around the actual announcement of the shareholder return policy.
005935.KS WATCH
Compress investments into the semiconductor Big 2.
Rather than buying peripheral Samsung Group stocks (S7) to capture dividend expectations, it is better to compress investments into the 'Big 2' (Samsung Electronics and SK Hynix). Their current valuations are undemanding, and they offer a faster path to recovery if the market turns.
005930.KS LONG
Securities stocks are oversold with new momentum.
Securities stocks are oversold despite an expected Q3 earnings dip. They possess steady new momentum from potential retail fund recovery if semiconductors rally, the launch of new IMA products, and the expansion of the STO market driven by stablecoins.
Korean securities stocks LONG
Stablecoins will become AI agent payment infrastructure.
As AI agents become prevalent, stablecoins are highly likely to become the core payment infrastructure due to their low fees and fast blockchain transfers. Related payment stocks like Hecto Financial and Danal are worth accumulating on pullbacks.
234340.KQ LONG
064260.KQ LONG
Construction stocks have multiple diverse growth catalysts.
Construction stocks are rebounding from the bottom and offer multiple catalysts, including nuclear power plant exports, semiconductor cluster construction, AI data centers, domestic housing supply initiatives, and potential Middle East reconstruction projects.
000720.KS LONG
Korean Construction Stocks LONG
028260.KS LONG
Power equipment and substrates show strong backlogs.
Power equipment stocks like Hyosung Heavy Industries, LS, and Iljin Electric are showing strong Q2 earnings and robust transformer order backlogs. Additionally, substrate stocks are receiving renewed attention alongside AI due to their strong order backlogs.
006260.KS LONG
Substrates LONG
Power equipment LONG
298040.KS LONG
103590.KS LONG
Boston Dynamics revaluation will boost Hyundai Motor.
Chinese robotics firm Unitree's valuation surged to 70 trillion won post-IPO, which makes Boston Dynamics (currently valued at 50-100 trillion won) appear undervalued. This impending revaluation of Boston Dynamics should serve as a strong catalyst for Hyundai Motor Group stocks.
005380.KS LONG
000270.KS LONG
012330.KS LONG
307950.KS LONG
Solar energy offers the fastest deployment timeline.
While power equipment is popular, actual energy generation faces severe shortages. Solar energy is the top pick because it can be deployed and start generating power in just one year, unlike nuclear or offshore wind, and has future expansion potential into space solar.
SOLAR LONG
010060.KS LONG
Hynix's buyback balances returns with necessary capex.
SK Hynix's 40 trillion won share buyback is an appropriate size that balances shareholder returns with the massive capital expenditures required for semiconductor investments. Further shareholder returns, utilizing 50% to 100% of free cash flow, are expected around the Q3 earnings release, keeping market expectations high.
000660.KS LONG
HIGH
03:15
Aug 20
Aug 20
005930.KS
000660.KS
Robot parts
XBI
196170.KQ 1ST
▾
HIGH
Reduce semiconductor top-tiers until Q3 earnings.
While Samsung Electronics and SK hynix have solid fundamentals and no earnings noise, they are currently undergoing a period of consolidation and level testing by foreign investors. Investors should reduce their portfolio weight in these top-tier chipmakers to under 50% until the Q3 earnings announcements, which will likely mark the end of the consolidation phase.
005930.KS AVOID
000660.KS AVOID
Buy robot parts suppliers over large makers.
Because large companies cannot manufacture all robot components internally and must source them to remain price competitive, robot parts suppliers will benefit more than the large robot makers themselves. When the sector rotation returns to robotics, parts companies will see stronger upward momentum.
Robot parts LONG
Buy biotech stocks like Alteogen for momentum.
The biotech sector is clearly undervalued and supported by strong momentum from tech transfers and government policy expectations. Alteogen, in particular, has resolved its litigation noise, improved its supply/demand dynamics, and is establishing strong support around the 300,000 won level, making it a compelling buy.
XBI LONG
196170.KQ LONG
Avoid large robot makers due to competition.
Large-cap robotics and Hyundai Motor's robotics initiatives face severe price competition from Chinese humanoid robot makers like Unitree, which are producing robots at a fraction of the cost. Until Hyundai can prove global price competitiveness, it is better to avoid large robot makers.
ROBO AVOID
005380.KS AVOID
Buy semiconductor substrate stocks due to shortages.
The shortage of semiconductor substrates is becoming more pronounced than memory shortages, evidenced by rising CCL (Copper Clad Laminate) prices. This structural shortage and inflation in the substrate supply chain will likely drive significant upward momentum for substrate stocks.
Semiconductor substrates LONG
Avoid cosmetics stocks as they already rallied.
The cosmetics sector rallied heavily while semiconductors were resting. Although some laggards recently posted good earnings and caught up, investors should avoid sectors that have already run up significantly and instead rotate into relatively neglected sectors.
Cosmetics AVOID
Buy undervalued semiconductor equipment stocks on dips.
Korean semiconductor equipment and materials stocks are undervalued compared to the top-tier chipmakers. They previously lagged because funds flowed into single-stock leveraged ETFs for the top-tiers, but they are now catching up in a fast rotational market. Investors should buy them on dips rather than chasing them on days they surge over 5%.
SMH LONG
HIGH
02:15
Aug 20
Aug 20
MRNA 1ST
MRK 1ST
196170.KQ
Korean Biotech/Pharma Sector
128940.KS
▾
HIGH
Positive mRNA/Keytruda combo data lifts both.
Moderna's personalized mRNA melanoma vaccine combined with Merck's Keytruda met its primary endpoint and showed significantly better recurrence-free survival than Keytruda alone. AI accelerated mutation selection and analysis, enabling six-week personalized vaccine production. The data validate a broader personalized cancer vaccine platform beyond melanoma, so both Moderna and Merck rallied and can continue re-rating as the pipeline expands into lung, bladder, and kidney cancer.
MRNA LONG
MRK LONG
Keytruda SC formulation benefits Alteogen.
The positive Keytruda combination data support wider Keytruda use and combination therapy expansion, and Alteogen is positioned to benefit as a direct Merck partner, especially through Keytruda subcutaneous formulation and other alternative dosage forms.
196170.KQ LONG
US biotech spillover lifts Korean pharma/biotech.
The US biotech rally triggered by Moderna's cancer vaccine data, together with lower Treasury yields, is likely to spill over to Korean pharmaceutical and biotech names, making the domestic pharma and biotech sector attractive for a near-term rebound.
Korean Biotech/Pharma Sector LONG
Korean mRNA vaccine developers gain attention.
Within Korean biotech, domestic companies with their own mRNA or cancer vaccine platforms, including Green Cross, Hanmi Pharm, and OliX, are likely to attract attention as the US success increases interest in Korean cancer vaccine development.
128940.KS LONG
226950.KQ LONG
006280.KS LONG
Samsung Biologics benefits from CDMO demand.
Samsung Biologics, as a contract manufacturing organization for biologics and vaccines, is positioned to benefit from increased outsourcing demand tied to the new personalized mRNA and cancer vaccine momentum.
207940.KS LONG
SEC regulatory easing fuels Bitcoin, Ethereum.
Bitcoin and Ethereum rallied because the SEC released new crypto-asset regulatory proposals that the market treated as deregulatory, including easier fundraising exemptions for crypto companies and looser securities treatment for projects deemed sufficiently mature. The speaker expects this SEC easing to be a short-term positive catalyst, while the Clarity bill vote in September remains the larger legislative catalyst.
BTC LONG
ETH LONG
Buyback cancellation makes SK Hynix undervalued.
SK Hynix announced a 40 trillion won buyback with cancellation over three months, covering 24.07 million shares and described as the largest domestic listed company share cancellation plan. It also shifted shareholder return policy from up to 50% of cumulative FCF to at least 50%, backed by about 69 trillion won in net cash. Cancellation is expected to reduce share count by about 10-12%, lift EPS by 10-13%, and leave SK Hynix at a very low PER, under 5x even at Meritz's 3.1 million won target price. Shareholder return yield could reach 14-16%, and this is likely only the beginning of additional return measures.
000660.KS LONG
HIGH
00:47
Aug 20
Aug 20
000660.KS
BTC 1ST
TSLA
204320.KS
196170.KQ
▾
HIGH
Massive share buyback and cancellation boost valuation.
SK hynix's announcement to buy back and cancel 40 trillion won worth of shares, along with upgrading their shareholder return policy to 'over 50% of FCF', will significantly improve EPS and lower PER, making the stock highly undervalued.
000660.KS LONG
Weaker dollar and yields boost Bitcoin, Gold.
The SEC is easing regulations on crypto assets, exempting some from strict securities registration. This regulatory relief is a positive catalyst for Bitcoin and Ethereum ahead of the FIT21 (Clarity) bill vote.
BTC LONG
Tesla Cybercab launch benefits domestic auto parts.
Tesla's Cybercab launch is approaching, which could benefit domestic auto parts suppliers like HL Mando that are involved in autonomous driving and camera modules.
TSLA WATCH
204320.KS WATCH
Keytruda combination success provides strong upside catalyst.
Alteogen is a prime beneficiary of Moderna's mRNA cancer vaccine success because the vaccine is used in combination with Merck's Keytruda. Alteogen's technical chart has also broken through resistance, making it attractive for trading.
196170.KQ LONG
Unitree IPO shifts focus to component makers.
With Unitree's IPO absorbing liquidity in China, domestic focus may shift to robot component makers with solid technology and revenue, such as SPG for reducers and Robotis.
058610.KQ WATCH
277810.KQ WATCH
108490.KQ WATCH
Foundry price hikes and turnaround drive rerating.
Samsung Electronics has established a bottom and reversed its downtrend. Positive news like 15% foundry price hikes and full operation of the 4nm line indicate a turnaround in the foundry business, leading to a valuation rerating.
005930.KS LONG
Moderna's success boosts domestic mRNA supply chain.
ST Pharm and Pharmicell are the most direct beneficiaries of the mRNA vaccine boom because they supply the essential raw materials required for mRNA technology, making them indispensable compared to indirect players.
005690.KS LONG
237690.KQ LONG
d'Alba Global dictates the cosmetics sector's direction.
d'Alba Global serves as a bellwether for the cosmetics sector. If its stock breaks out of its recent box range, the entire cosmetics sector will rally; if it drops, the sector will struggle.
D'Alba Global WATCH
Record earnings make both biotech giants attractive.
Samsung Biologics offers stable growth as a potential Moderna CMO, while Celltrion offers higher volatility and upside as it develops a Keytruda biosimilar. Both are attractive due to record-breaking earnings despite being in the lagging biotech sector.
068270.KS LONG
European regulations excluding China benefit Korean batteries.
Funds are rotating from biotech into secondary batteries like EcoPro BM, POSCO Holdings, Samsung SDI, and LG Energy Solution. This is driven by Europe's upcoming industry act which excludes Chinese companies, providing a reflexive benefit to Korean battery makers.
247540.KQ LONG
005490.KS LONG
006400.KS LONG
Avoid inter-Korean stocks due to poor earnings.
Inter-Korean economic cooperation stocks like Ananti and Hyundai Elevator should be avoided due to poor earnings, significant deficits, and high risks.
017800.KS AVOID
025980.KQ AVOID
Anthropic partnership provides upside for SK Telecom.
SK Telecom is partnering with Anthropic, which is showing strong recurring revenue growth in the AI software space. Buying in the low 90,000 KRW range with a stop loss in the low-mid 80,000s is a favorable setup.
017670.KS LONG
Hynix share cancellation enables SK Square ADRs.
SK hynix's share cancellation will automatically increase SK Square's stake in SK hynix. This provides SK Square with the necessary margin above the 20% holding requirement to potentially issue additional ADRs, benefiting the holding company.
402340.KS LONG
SEC regulatory easing boosts crypto assets.
The SEC is easing regulations on crypto assets, exempting some from strict securities registration. This regulatory relief is a positive catalyst for Bitcoin and Ethereum ahead of the FIT21 (Clarity) bill vote.
ETH LONG
Rising gold prices benefit undervalued ITCEN.
Gold prices have bottomed out and are trending upward. ITCEN, which owns the Korea Gold Exchange, has seen its stock drop significantly but is now turning around, making it a good value investment based on solid earnings.
119830.KQ LONG
Weaker dollar and yields boost Bitcoin, Gold.
Gold prices have bottomed out and are trending upward. ITCEN, which owns the Korea Gold Exchange, has seen its stock drop significantly but is now turning around, making it a good value investment based on solid earnings.
GLD LONG
Moderna's success boosts domestic mRNA supply chain.
Samsung Biologics offers stable growth as a potential Moderna CMO, while Celltrion offers higher volatility and upside as it develops a Keytruda biosimilar. Both are attractive due to record-breaking earnings despite being in the lagging biotech sector.
207940.KS LONG
HIGH
11:00
Aug 19
Aug 19
Korean semiconductor materials/parts/components sector
Korean Power Equipment Sector
KOSDAQ Index
XLV FLIP
USD/KRW
▾
HIGH
Foreigners buying Korean semiconductor supplier names
Korean semiconductor materials/parts/components names are extremely volatile with semiconductor swings, but foreign investors are steadily buying select names. The speaker advises keeping this group in focus and building response strategies rather than ignoring it.
Korean semiconductor materials/parts/components sector LONG
Power equipment can lead rebound
Power equipment corrected as severely as semiconductors but is now showing strong rebounds in the US market and can be a rebound leader. The speaker says this sector had severe adjustment and is bouncing firmly.
Korean Power Equipment Sector LONG
KOSDAQ rally likely after October
Current KOSDAQ strength is mostly short covering from long-short liquidation, not confirmed leadership. The speaker expects an aggressive KOSDAQ phase only after October-November when rate-cycle and risk rotation support it; until then, focus on more restricted sectors such as semiconductor supplier names.
KOSDAQ Index WATCH
Use pharma/bio rebounds to reduce
Pharmaceuticals and biotech have been strong while semiconductors were weak, but as semiconductors enter a recovery phase pharma/bio may face rotation pressure. The speaker suggests using rebounds in pharma/bio to gradually reduce exposure.
XLV AVOID
Expect USD/KRW stabilization around 1,400
The speaker sees USD/KRW around 1,400 as a reasonable new normal that is not bad for exporters, while a sharp slide below 1,400 is not justified by Korea's lower GDP growth and lower rates versus the US and could create side effects. He prefers natural movement centered around 1,400.
USD/KRW WATCH
US stocks seasonally positive from October
US equity seasonality around midterm elections shows August-September is typically the worst period, while from October onward the market revives and can rally after the election. The speaker views the difficult part as mostly ending and says the US market can be seen more positively into the midterms.
SPY LONG
Foreign inflows keep semiconductor leadership
Since the August 11 semiconductor rebound, foreign investors have bought more than 10 million shares of Samsung Electronics even after excluding passive rebalancing and hedge-fund selling; medium-term foreign inflows continue. The speaker argues the market leadership remains Samsung Electronics and SK Hynix rather than KOSDAQ small caps.
005930.KS LONG
SK Hynix buyback sparks rebounding rally
SK Hynix announced after the close a 40 trillion won buyback and cancellation program, triggering an 8%+ after-hours rebound and likely urgent short covering by foreign investors who had sold roughly 2.2 trillion won of the stock during regular trading. The speaker sees the after-hours surge as evidence that the prior semiconductor selloff was not fundamentally rational and that the market is strongly rewarding shareholder return.
000660.KS LONG
Focus on cosmetics within consumer cyclicals
As US midterm fiscal stimulus appears, consumer cyclical names should be watched. In Korea autos and mobile are difficult because Hyundai Motor is tied up with robotics optics and Samsung Electronics is viewed as a semiconductor play, so the remaining quality earnings plays are cosmetics and some food; focus on cosmetics with strong individual results.
KORU LONG
Korean market rebound after overhang clears
Once the three semiconductor overhang factors—semiconductor peak fears, China semiconductor risk, and shareholder value disappointment—are resolved by buybacks, the Korean market can rebound. With US midterm stimulus supporting consumer cyclicals, the second half should see a limited but profitable rotation led by semiconductors and earnings-strong consumer cyclicals.
EWY LONG
HIGH
08:30
Aug 19
Aug 19
005930.KS FLIP
000660.KS
ORCL 1ST
PLTR 1ST
KOSDAQ Index
▾
HIGH
Buy Samsung Electronics and SK hynix dips.
The US semiconductor selloff and the sharp drops in Samsung Electronics and SK hynix are temporary. Long-term AI capex and memory earnings momentum remain strong, and SK Group's chairman warned next year's memory demand will be even more serious. Long-term investors should not panic sell into fear and can add exposure on weakness.
005930.KS LONG
000660.KS LONG
AI software giants proved AI monetization.
Second-quarter results showed Alphabet, Amazon, Oracle, Microsoft, and Palantir are translating AI investment into real cloud revenue and earnings, shifting AI from a spending-only story to a self-funding reinvestment cycle. Large cash-flow-stable AI and cloud companies are likely to keep performing well and continue AI capex.
ORCL LONG
PLTR LONG
GOOGL LONG
AMZN LONG
MSFT LONG
KOSDAQ and small caps set to strengthen.
KOSDAQ is positioned to continue strengthening because government-related KOSDAQ support and listing rules are expected from September, valuations are cheap after single-stock leveraged ETF products drained KOSDAQ liquidity and then faced higher entry hurdles, and the Fed has become less hawkish. That less hawkish shift can rotate risk appetite toward aggressive small/mid-cap assets including Russell 2000 and KOSDAQ.
KOSDAQ Index LONG
RTY LONG
Prefer KOSDAQ parts/materials and biotech sectors.
The core KOSDAQ leaders are materials/components/equipment and pharmaceutical/biotech names. The Nasdaq Biotechnology Index has already turned higher, and many core companies delivered record earnings but were held back by weak sentiment, so these sectors are likely to move first in the KOSDAQ recovery before secondary batteries.
KOSDAQ Pharmaceutical/Biotech Sector LONG
KOSDAQ materials/components/equipment sector LONG
IBB LONG
Buy Samsung SDI and LG Energy Solution.
ESS/secondary battery stocks remain attractive. 2026 was a repair phase in which Samsung SDI and LG Energy Solution swung toward profit and narrowed losses, and from 2027 the sector should show a real earnings quantum jump. The group should move after materials/components/equipment and biotech, but it is still a major KOSDAQ upcycle.
006400.KS LONG
Prefer K-beauty and K-food on export earnings.
In an unstable market, earnings are the most reliable anchor, and Korean export growth is quietly led by Hallyu-related sectors. Entertainment and content spread Korean culture, but beauty and food actually monetize it. Investors considering K-culture should look first at beauty and food, and within cosmetics should focus on companies with visible earnings growth and strong exports.
K-beauty stocks LONG
K-food stocks LONG
Buy Korean equities on macro fear dips.
Yen carry trade unwinding and long-term US and Japan yield spikes are legitimate concerns, but a mass yen carry unwind is unlikely because Japan still has very low rates and a wide rate gap with the US. If Korean equities wobble on these macro fears, investors should treat the shakeout as a buying opportunity because earnings remain firm and the market should recover.
EWY LONG
HIGH
07:00
Aug 19
Aug 19
EWY
KOSDAQ Index
Korean AI data center sector
Korean semiconductor equipment and materials sector
USD/KRW
▾
HIGH
KOSPI correction, not bear market
Park Hyun-sang views the sharp KOSPI drop as a correction, not the start of a bear market. He points to MSCI Korea's forward P/E of about 5.3x, near a 20-year low and below the global financial crisis low of 6.7x, while EPS estimates are still rising. He also sees today's foreign selling as profit-taking after last week's rally, driven by U.S. rate and Middle East noise.
EWY LONG
KOSDAQ should outpace KOSPI after adjustment
After a sharp one-day KOSPI drop, he expects the index to form a narrow box and the market to shift into individual stocks. If the correction ends, KOSDAQ is likely to recover faster than KOSPI, and active individual-stock trading will drive returns rather than large caps.
KOSDAQ Index LONG
Favor Korean AI datacenter and chip equipment
He expects likely sector leadership to be tied to domestic Korean AI data-center investment. Semiconductor materials, components and equipment names are already strong, especially large-cap names, and AI data-center-related individual stocks should also move. He also notes alternative energy plays can create additional room if investors keep cash and buy dips.
Korean AI data center sector LONG
Korean semiconductor equipment and materials sector LONG
USD/KRW stays boxed; watch foreign triggers
USD/KRW has fallen sharply below 1,400 intraday, helped partly by SK hynix ADR-related flows, but the move is too fast and volatile. He expects the exchange rate to remain in a box around 1,400-1,450 and says foreigners are likely to re-enter Korean equities when Trump/Hormuz uncertainty and U.S. 10-year Treasury yield pressure ease.
USD/KRW WATCH
Memory selloff is rate noise, downside limited
The sharp drop in Samsung Electronics and SK hynix is a memory-sector correction caused by U.S. Treasury yield noise rather than fundamental deterioration. SK hynix ADR, Micron and SanDisk fell, but the big-tech capex and accounting concerns are not supported. He argues Korean stocks are cheap precisely because of memory and that further sharp downside is likely limited.
005930.KS LONG
000660.KS LONG
HIGH
05:30
Aug 19
Aug 19
EWY
KS FLIP
TLT
KOSPI 200 futures
▾
HIGH
KOSPI 6,500 support key for rebound.
KOSPI opened around 6,530 after a roughly 4.9% drop, and the 6,500 area is the critical support. If the index can hold around 6,500 and rebound, it may form a small box range and recover; if it breaks decisively, the rebound setup is damaged. The key late-session check is whether KOSPI can reclaim 6,500.
EWY WATCH
Avoid leveraged Samsung/SK hynix bets.
SK hynix has not yet pushed its 5-day moving average above the 20-day moving average, so buying before confirmation is premature; if it falls, it can drop further. Samsung Electronics already trapped those who bought on confirmation, so the current lesson is to wait for confirmed technical strength before buying. A hold of the 5-day without breaking the 20-day would support another rebound.
KS AVOID
Watch US long-term Treasury yields.
Long-term Treasury yields are being watched closely because the rise may be either a natural consequence of AI-driven ABS issuance for GPU data centers or a sign that sustained war costs are eroding confidence in US long-term debt. If the rise is not natural, the system may be breaking and a black swan could emerge. The Clarity bill could create new Treasury demand and pull long rates down, but it is not yet visible, so long-term US Treasury yields are a critical risk setup to monitor.
TLT WATCH
Watch foreign KOSPI futures short covering.
Foreign investors had built large short positions in KOSPI futures from early August, with the position expanded to around 5 trillion won. After the sharp index drop their shorts are near profit, so if they do not expect further sustained downside they may cover or buy back futures into strength. The session's key is whether futures shorts are unwound, while foreign spot selling remains the risk.
KOSPI 200 futures WATCH
HIGH
04:30
Aug 19
Aug 19
EWY
Secondary batteries
SMH 1ST
XBI 1ST
Robot components
▾
HIGH
Overweight KOSPI over KOSDAQ for better safety.
KOSDAQ has rallied significantly recently, so it is safer to overweight KOSPI at a 60% to 40% ratio as foreign capital is shifting towards KOSPI large caps.
EWY LONG
KOSDAQ WATCH
Avoid battery stocks due to fading interest.
Market interest has faded and the sector lacks strong catalysts other than EcoPro's capital increase news, making it better to avoid and look at renewables or pure robotics instead.
Secondary batteries AVOID
Prioritize semiconductor equipment and biotech in KOSDAQ.
Within the KOSDAQ market, investors should prioritize semiconductor equipment and materials, followed by biotech, substrates, and robot components over complete robot vehicles.
SMH LONG
XBI LONG
Robot components LONG
Substrates LONG
Reduce weight in top tier semiconductor stocks.
Investors should reduce their weight in top-tier semiconductor stocks; if holding at a loss, it is better to trade in a new account rather than averaging down.
000660.KS AVOID
005930.KS AVOID
Trade short-term ahead of late August event.
Approach the stock as a short-term trade ahead of its late August event, keeping position sizes relatively small rather than holding a large weight.
005380.KS LONG
Buy sectors with three year order backlogs.
These sectors provide safety in a slowing market due to their solid three-year order backlogs; defense is especially attractive as global weapon inventories are depleted and capacity is constrained.
ITA LONG
Shipbuilding LONG
Power equipment LONG
012450.KS LONG
329180.KS LONG
Foreigners are buying on capacity expansion expectations.
Despite poor recent earnings, foreign investors are heavily buying the stock in anticipation of global semiconductor capacity expansions, including potential growth in China.
036930.KQ LONG
Buy front-end equipment on global capex expansion.
Prefer front-end over back-end equipment right now because global chipmakers like Samsung, SK Hynix, Micron, and TSMC are signaling massive capex and capacity expansions.
Front-end semiconductor equipment LONG
Avoid penny stocks due to delisting risks.
Avoid trading penny stocks to recover losses as most face delisting risks, unless they have over 10% foreign ownership and daily trading volume exceeding 100,000 shares.
Penny stocks AVOID
Buy for MLCC, substrates, and camera catalysts.
The company has multiple strong catalysts including MLCCs, substrates, and camera modules that will benefit from strong foldable phone sales and the upcoming return of the autonomous driving theme.
009150.KS LONG
HIGH
03:00
Aug 19
Aug 19
SMH
000660.KS
US Big Tech corporate bonds
Global government bonds
095610.KQ
▾
HIGH
Memory long/short war raises volatility
The US semiconductor selloff is not cleanly explained by rates; it is a global long-short information war in the AI/memory semiconductor value chain. Hedge funds are fighting over memory longs and shorts, using rate and carry-trade headlines as ammunition, while semiconductor leverage has increased again in the US and Hong Kong, so volatility is likely to stay elevated.
SMH WATCH
000660.KS WATCH
Big Tech bonds beat government bonds
Global long-term government bond yields are spiking, but bond investors are increasingly buying Big Tech corporate bonds because they offer higher yields and are viewed as safer than sovereign debt. This is an unusual bond market shift and supports Big Tech credit over US, European, and Japanese government bonds.
US Big Tech corporate bonds LONG
Global government bonds AVOID
TES correction is buying opportunity
TES has favorable earnings and a strong order backlog, and an analyst raised the target price to KRW 200,000 after reflecting second-quarter costs and slightly raising 2026 estimates. The recent pullback creates an opportunity to add exposure, and today's further decline makes it even more attractive.
095610.KQ LONG
Hanwha Aerospace US howitzer win positive
Hanwha Aerospace was selected alone for a US self-propelled howitzer program worth about KRW 30 trillion. It will first supply six prototype units, with additional volume expected during a three-year test period. This is a long-term defense contract, and the stock's strong break above its 120-day moving average adds technical support.
012450.KS LONG
US biotech resilient in weak markets
US biotech and healthcare stocks are making consecutive new highs and tend to perform well when the broad market is weak because profitable healthcare companies serve as defensive holdings. Korean R&D biotech is also at record-high index levels, but domestic stocks are not yet reflecting that strength.
XBI LONG
Hanwha win spreads to defense sector
Hanwha Aerospace's US howitzer win is spreading warmth across the Korean defense sector, which is the only strong area in a weak market. LIG Nex1 is up about 4% and Hanwha Systems is up about 2%, and investors are likely to buy defense names on pullbacks as sector rotation intensifies.
Korean defense sector LONG
272210.KS LONG
079550.KS LONG
Silicon2 investment news supports stock
Silicon2 received a KRW 300 billion investment, which was positive news yesterday even though the market was weak. Today the market is worse, but the stock should hold up because the news is supportive, the company has limited negative catalysts, and it belongs to a defensive sector.
257720.KQ LONG
Alteogen needs to hold 300,000 won
Alteogen fell sharply yesterday but is trying to rebound today. It has broken above the 300,000 won level, which should now act as support, but it needs to hold that area to confirm stabilization. US biotech is making new highs, but Alteogen's support test needs to be watched closely.
196170.KQ WATCH
Isu Petasys capacity expansion is bullish
Isu Petasys announced a sixth factory expansion and is already reviewing a seventh because demand is overflowing. Operating margin is around 20% and rising faster than revenue as substrate prices increase, supporting the bullish case after the stock broke above the 100,000 won level.
007660.KS LONG
Youngwoo DSP has semiconductor inspection catalyst
Youngwoo DSP has been a Samsung Display inspection equipment supplier with about KRW 700 billion in cumulative orders over ten years, and its display business should improve as a cash cow. It is also developing semiconductor inspection equipment, the Vega S1000, and is in demo testing with a Korean chipmaker, likely Samsung. If a semiconductor order comes next year, the stock could re-rate, but the timing is uncertain, so it is a long-term study and watch target rather than a direct buy call.
143540.KQ WATCH
HIGH
00:51
Aug 19
Aug 19
078930.KS
096770.KS
356860.KQ 1ST
007810.KS 1ST
025980.KQ 1ST
▾
HIGH
Strong margins and lube oil supply issues.
US energy stocks like Valero Energy are hitting new highs due to rising oil prices. In the Korean market, refining stocks like GS and S-Oil serve as excellent pair trades with solid earnings and attractive chart setups.
078930.KS LONG
010950.KS LONG
Strong margins and lube oil supply issues.
Oil refining stocks reported strong Q2 earnings and are expected to perform well in Q3. They are benefiting from high refining margins and a shortage of lube oil caused by damaged Russian refining facilities.
096770.KS LONG
Shortages and price hikes benefit PCB suppliers.
The PCB substrate sector continues to see positive news regarding shortages, price hikes, and a supplier-advantaged market, making technically oversold stocks in this space attractive.
356860.KQ LONG
007810.KS LONG
007660.KS LONG
Trump's remarks create short-term trading themes only.
Trump's remarks about reducing US-ROK military drills have sparked a rally in North Korea economic cooperation stocks. However, this is purely a short-term, highly volatile trading theme and should be avoided for long-term investment.
025980.KQ AVOID
Cheap valuation provides a solid trading floor.
Samsung Electronics is currently boxed in, but its valuation floor is solid at around a 4.4x multiple. It offers a comfortable trading opportunity if bought near the 10-day or 20-day moving averages during market dips.
005930.KS LONG
Strong earnings and low interest rate sensitivity.
Cosmetics stocks are less sensitive to interest rate hikes and are supported by strong earnings and high overseas sales portions, making them a solid defensive choice during current market volatility.
439090.KQ LONG
114840.KQ LONG
237880.KQ LONG
257720.KQ LONG
200130.KQ LONG
Annual strike noise creates attractive buying opportunities.
Hyundai Motor is facing its annual strike noise, which historically causes temporary stock dips. Investors should wait for the price to drop below 400,000 KRW, where the valuation becomes highly attractive for accumulation.
005380.KS WATCH
Unitree IPO momentum and strong technical rebounds.
In the robotics sector, Robotis is the top pick due to momentum from the Unitree IPO. SPG is also attractive as a second-tier pick due to its localization of reducers and strong technical rebound.
058610.KQ LONG
Strong component momentum but prefers LG Innotek.
While Samsung Electro-Mechanics has strong momentum in MLCC, FC-BGA, and silicon capacitors, its valuation is currently burdensome. LG Innotek is preferred as a more attractively valued alternative in the large-cap component space.
009150.KS WATCH
Testing new semiconductor inspection equipment.
Youngwoo DSP, traditionally a display inspection equipment cash cow, is currently testing new semiconductor inspection equipment for a major domestic client, which could provide significant future momentum.
143540.KQ WATCH
AI shopping integration offers box trading opportunities.
NAVER will benefit significantly from the integration of AI into its massive shopping platform. The stock is highly volatile, so it is best traded within a box, buying near 180,000-190,000 KRW and reducing exposure near 230,000 KRW.
035420.KS LONG
Rising oil prices boost energy stock valuations.
US energy stocks like Valero Energy are hitting new highs due to rising oil prices. In the Korean market, refining stocks like GS and S-Oil serve as excellent pair trades with solid earnings and attractive chart setups.
VLO LONG
Depleted US missile inventories drive structural demand.
Prolonged global conflicts have depleted US missile inventories, creating structural demand to replenish weapons systems. This makes Korean defense companies highly attractive compared to other sectors like shipbuilding.
012450.KS LONG
079550.KS LONG
Surging demand for robot actuators globally.
Robotis is seeing surging demand for its robot actuators, which act as the heart of robots. They are supplying these core components to Chinese and North American robot startups that lack their own actuator technology.
108490.KQ LONG
Solid order backlog and attractive dip-buying opportunity.
TES is showing solid earnings and a strong order backlog. With recent stock price declines fully reflecting Q2 opportunity costs, it presents a good opportunity to increase exposure.
095610.KQ LONG
HIGH
11:00
Aug 18
Aug 18
005930.KS
EWY
000660.KS
Silicon2 FLIP
TLB 1ST
▾
HIGH
Korean memory leaders are buyable on dips.
Today's sharp intraday reversal in Samsung Electronics and SK Hynix is profit-taking after the Korean holiday catch-up, not unknown bad news. While Korea was closed, Kioxia, CXMT, Micron, and SK Hynix ADR all rallied, and the US commerce secretary's opposition to Apple buying Chinese CXMT memory removes the original bearish catalyst. SK Hynix also has shareholder-return policy expectations, so Korean memory leaders should be bought on dips rather than sold.
005930.KS LONG
000660.KS LONG
Buy KOSPI dips; no crash ahead.
The KOSPI is not entering a sustained bear market despite the large intraday reversal. After the July leveraged-semiconductor shakeout, a repeat crash would require the same leveraged ETN trigger, and that has not re-ignited. The index is more likely to form a box range and may test the 5-day line, so investors should keep buying good stocks on dips.
EWY LONG
Rotate from Silicon2 to lagging cosmetics.
After a two-day pullback, the Korean cosmetics sector setup is not bad and can be approached. Silicon2's gain is driven by individual news involving a 300 billion won rights offering and CVC investment, but chasing that individual news is not favored. Traders should consider rotating into lagging cosmetics names if the sector strengthens.
Silicon2 AVOID
KORU LONG
TLB rises on report-driven substrate strength.
TLB was one of the strong semiconductor substrate names, rising about 9%, and today's Korean semiconductor material and equipment gains were led by names with fresh analyst reports and solid earnings. TLB's report-driven substrate strength differentiates it from the broader profit-taking in large-cap semis.
TLB LONG
HPSP gains on report-driven equipment demand.
HPSP moved up with a positive candle after fresh analyst coverage and strong earnings, showing relative strength among semiconductor equipment names even as large-cap semiconductor stocks reversed lower.
403870.KQ LONG
Buy Isu Petasys on dips.
Isu Petasys is a buy-on-dip substrate/MLB name with good earnings and exposure to multilayer board and FC-BGA demand. It has already run up and is not a chase candidate, but it tends to work when bought on pullbacks.
Isu Petasys LONG
Watch Samsung Electro-Mechanics for stable breakout.
Samsung Electro-Mechanics is fundamentally good and earnings-driven, but it was rejected at the 60-day moving average and fell sharply. The safer setup is to watch for a quiet cross of the 5-day and 60-day moving averages rather than chasing the stock here.
009150.KS WATCH
HIGH
08:30
Aug 18
Aug 18
005930.KS
000660.KS
SPY
IEF 1ST
▾
HIGH
Samsung and SK hynix are re-entry buys.
Korean semiconductor stocks, especially Samsung Electronics and SK hynix, are at a re-entry point after the sharp correction. Kim cites a Morgan Stanley report saying the steep correction has ended, Samsung Electronics' next catalyst is buybacks, valuations are attractive enough for re-entry, and the memory cycle remains alive at least into mid-next year. He also explains that memory price increases reflect demand allocation across many big-tech and Chinese clients rather than uncontrolled greed, so the earnings deterioration is likely smaller than feared.
005930.KS LONG
000660.KS LONG
Stay invested in US equities.
Next year US equity supply is likely to be excessive because record IPO and secondary issuance is building from names like SpaceX, Anthropic, and OpenAI. Kim notes that 1999 and 2007 showed peak liquidity and issuance episodes preceded market breaks. Supply relative to total market cap has not yet exceeded prior peaks, but next year it likely will, making it a key risk to watch for US equities.
SPY LONG
US 10-year Treasury yields keep rising.
US Treasury yields are rising because strong US growth and AI infrastructure investment are increasing demand for capital while big-tech bond issuance competes with government debt. With the US 10-year yield already above 4.7% and heading toward 5%, Treasury prices are likely to stay under pressure, and a move above 5% would become a serious burden on equities.
IEF AVOID
HIGH
07:00
Aug 18
Aug 18
EWY
042660.KS
VGK 1ST
005380.KS
SK Telecom
▾
HIGH
KOSPI rises to 7,500 on foreign buying.
He expects the KOSPI to rise about 1.5–2% today, led by large-cap semiconductors and related power equipment and materials sectors. The index is attempting a trend reversal with moving averages turning bullish, and he argues it can reach the 7,500 level, which is the 60-day line and a former support/resistance zone. Long-term foreign investors are buying spot in the regular session rather than trading futures, and their continuation is key to the rally. He favors holding into strength but would trim near 7,400–7,500 if fully invested.
EWY LONG
Shipbuilding stocks muted despite good earnings.
Korean shipbuilding stocks are frustrating despite improving earnings and order books because China is dominating orders, with about 81% market share in July, and is quickly catching up even in LNG and ammonia carriers. He notes the stocks have held up relatively well but lack catalysts and are boring. US pressure for Korean yards to invest in America is not an attractive near-term catalyst because overseas shipyards have often been unprofitable due to labor, supply chain, and steel plate constraints. He sees it as a market to keep watching rather than abandon.
042660.KS WATCH
Europe structurally declining due regulation.
He is bearish on Europe as an investment region, arguing that it is structurally declining: it has no meaningful AI industry except cloud data centers in Ireland, is heavily overregulated, and is living off legacy tourism and assets from the imperial era. He points to crippling regulation such as air-conditioning installation costs in Germany exceeding the price of many cars.
VGK AVOID
Hyundai Motor can reach 500,000 won.
Hyundai Motor rose about 14% last week and has completed a weekly trend reversal. The daily chart is building a bullish moving-average alignment, with the 5- and 10-day averages in positive order and the stock above the 120-day line. He expects a move to 500,000 won, with the key task being to break above the 60- and 120-day averages.
005380.KS LONG
SK Telecom breaking resistance worth watching.
He flags SK Telecom as a stock to watch, specifically whether it can break through a key level and enter the next won-level price band. A breakout would confirm the setup, though he does not provide detailed fundamentals in this segment.
SK Telecom WATCH
Samsung, SK hynix correction like Nvidia; hold.
He argues that Samsung Electronics and SK Hynix are going through a correction similar to NVIDIA's early-2025 drawdown, when NVIDIA fell about 40% and then recovered. The companies themselves did nothing wrong; the market is not recognizing them yet. He says he is not worried and advises holders to hold through the correction.
000660.KS LONG
005930.KS LONG
HIGH
06:00
Aug 18
Aug 18
EWY
005930.KS
Isu Petasys
TLB 1ST
064290.KQ
▾
HIGH
Buy KOSPI dips; uptrend intact, target higher.
KOSPI's intraday retreat from above 7,200 is a technical Bollinger Band high and a pause, not a bearish trend reversal. The 120-day moving average below should hold as support, while the 60-day moving average around 7,450-7,500 is an open upside target. After short-term hesitation, he expects renewed upside; a breakout above 7,500 opens 8,100-8,200, and a close above 8,200 targets 9,000. He would trim near 8,100 and buy on pullbacks rather than panic.
EWY LONG
Memory DRAM uptrend intact; buy Samsung/SK hynix.
Foreign investors have recently bought Korean IT hardware and semiconductors most aggressively, and DRAM prices continued rising even while share prices corrected. Falling token prices are driving explosive token usage and ongoing DRAM demand. CoreWeave's long-term contract for older GPUs out to 2029 undermines the AI depreciation bear case. JPMorgan expects DRAM's share of hyper-scaler data-center capex to rise from 8% in 2025 to 31% in 2026, 49% in 2027, and 60% by 2028, so DRAM/memory is unlikely to roll over.
005930.KS LONG
000660.KS LONG
Semiconductor substrate order backlogs are rising strongly.
Semiconductor substrate and PCB names are showing strongly rising order backlogs, not just memory-driven sentiment. Isu Petasys, TLB, Daeduck Electronics, Korea Circuit, Simmtech, Intek Plus, and Gigas all recorded strong order-backlog growth. Isu Petasys rose more than 10% intraday after results before trimming gains, and he recommends watching semiconductor substrate and board names together with memory.
Isu Petasys LONG
TLB LONG
064290.KQ LONG
222800.KQ LONG
024110 LONG
353200.KS LONG
420770.KQ LONG
Transformers and electric wire remain positive leaders.
Power equipment, transformers, and cable names continue to show strong price action and can keep leading alongside memory semiconductors. Iljin Electric and Hyosung Heavy Industries are specifically named as still showing very good strength, and he recommends watching transformer and wire/cable names together with semiconductor substrates.
Iljin Electric LONG
298040.KS LONG
Prefer RF Materials over expensive optical telecom.
Optical communications are a mid-to-long-term growth story supported by US names like Coherent and Lumentum and positive CPO-related reports out to 2030. Rather than chasing Daehan Optical Telecom, which carries valuation burden, he finds RF Materials more realistically attractive, and would watch telecom equipment only if optical communications keep moving.
010170.KQ AVOID
327260.KQ LONG
Samsung Group ETF launch supports group-wide flows.
Roundhill Investments' new Samsung Group ETF includes Samsung C&T, Samsung Electro-Mechanics, Samsung SDI, Samsung Life, and Samsung Biologics. This can broaden demand across Samsung group names, so even if semiconductor stocks correct, group-wide value-chain names may move together.
SAMS LONG
Samsung Life LONG
207940.KS LONG
009150.KS LONG
028260.KS LONG
006400.KS LONG
Robotics requires concrete Hyundai group news catalysts.
Hyundai Motor Group has re-rated to a reasonable 8-10x auto multiple, so the next upside requires concrete robot business news. Robot-related parts respond when Hyundai group announces robot initiatives. He is broadly positive on robot stocks but says they are event-driven, so investors should watch for concrete news flow rather than treat them as earnings plays.
Hyundai Motor Group WATCH
Rising rates put banks, insurers on watch.
With bond yields having risen, banks and insurers deserve monitoring. US markets have shown bank stocks rally alongside tech, so Korean banks and life insurers could be watched if the rate environment persists, even though they are quiet today.
KBE WATCH
Hotel/resort earnings strong; watch H2 recovery.
Hotel and resort names like Ananti and Mona Yongpyong have strong earnings while stock prices are correcting. After recent adjustments they may move higher, so he wants to watch this group into the second half.
025980.KQ WATCH
070960.KS WATCH
Solar panel prices should rise; buy Hanwha/OCI.
Solar is attractive because trade-law sanctions and Chinese restructuring are likely to lift panel prices, allowing Korean producers with US factories to export at higher prices. Hanwha Solutions and OCI Holdings are named as ways to play this positive solar setup.
010060.KS LONG
009830.KS LONG
HIGH
03:00
Aug 18
Aug 18
SMH
108490.KQ
006730.KQ 1ST
083650.KQ
017670.KS
▾
HIGH
Memory semiconductor sector is rebounding strongly.
The memory semiconductor sector is showing strong signs of a rebound. Following the SanDisk Investor Day, sentiment has shifted positively, and capital is flowing back into the sector, which had been significantly beaten down. This is evidenced by the strong performance of memory-related stocks globally, including SK hynix's ADR, Kioxia (up 15%), and China's CXMT (up 7%). The sector was heavily adjusted, and now it's attracting funds.
SMH LONG
Robotis has strong earnings and demand.
Robotis is attractive due to a significant earnings beat and strong demand for its actuators. Q2 operating profit surpassed consensus by over 80%, and the company is profitable with a 12.9% OP margin. Demand for its 'DYNAMIXEL' actuators is surging, with a diversified strategy of selling to both China (Y-series) and North America (X-series). The company is also expanding its production capacity by building a new factory in Uzbekistan, which could be a base for European market penetration.
108490.KQ LONG
Chinese tourism shift benefits Seobu T&D.
Seobu T&D is poised for growth due to a significant shift in Chinese tourism. In H1, Chinese inbound tourists to Korea increased by 26% while those to Japan decreased by 55%. This trend directly benefits Seobu T&D's hotel operations. The company is expected to achieve record-high operating profit in the second half of the year. Furthermore, its real estate development projects, including an officetel project in Yongsan and a development in Shinjeong-dong, provide additional growth drivers.
006730.KQ LONG
BHI has huge earnings and backlog.
BHI is a strong investment, not just as a nuclear power play, but as a broader power generation equipment supplier. The company delivered a massive earnings surprise in Q2, with operating profit beating consensus by 53% and growing 123% YoY. Its core product, the Heat Recovery Steam Generator (HRSG), is essential for various power plants (thermal, nuclear, LNG), ensuring broad demand. With a substantial order backlog of KRW 440 billion, the strong growth momentum is expected to continue through the second half of the year.
083650.KQ LONG
SK Telecom benefits from Anthropic's growth.
SK Telecom is an interesting company to watch as a way to gain exposure to the high-growth AI Data Center (AIDC) theme. Its investment in Anthropic is a key value driver, as Anthropic's revenue has grown 14-fold year-over-year, primarily from enterprise clients. This demonstrates the massive potential SKT is tapped into. While the stock's technical chart is currently at an ambiguous point, a breakout above KRW 110,000 could lead to a significant move higher.
017670.KS WATCH
Nike is losing market share, avoid.
Nike appears to be a company in decline, as reflected by its stock chart which looks like that of a 'failing company'. Consumer preference has shifted, with people, especially in the running community, no longer choosing Nike. The company has lost its dominant position in the running shoe market, and a general trend of reduced outdoor activity may also be a headwind.
NKE AVOID
HIGH
21:07
Aug 17
Aug 17
WTI
SMH
078930.KS
096770.KS
WDC 1ST
▾
HIGH
Rising oil prices highlight inflation risks.
WTI crude prices above $80 are burdensome for the market, and if they rise to $90, inflation risks will resurface, negatively impacting equities.
WTI WATCH
AI funding and shortages support memory stocks.
Big tech companies continue to secure funding for AI infrastructure, and memory shortages are expected next year, providing strong support for the memory semiconductor sector.
SMH LONG
High refining margins drive strong earnings expectations.
Refining margins remain high due to damaged Russian facilities, leading to strong Q2 earnings and high expectations for Q3 for Korean refiners.
078930.KS LONG
096770.KS LONG
010950.KS LONG
Positive outlooks drive strong memory sector rebound.
Positive analyst upgrades and strong earnings expectations are driving a powerful rebound in memory semiconductor stocks globally.
WDC LONG
STX LONG
MU LONG
Upcoming Investor Day highlights robotics strategy.
Hyundai Motor's upcoming CEO Investor Day is expected to detail specific robotics strategies, boosting momentum for Hyundai Motor Group stocks.
314390.KS LONG
000270.KS LONG
012330.KS LONG
005380.KS LONG
Robotics momentum continues with market recovery.
Investors should monitor robot component makers for rotation opportunities while they consolidate, as they provide essential parts like reducers and servo motors.
058610.KQ LONG
160190.KQ LONG
Undervalued with strong foreign tourist spending.
Department stores are undervalued despite strong Q2 earnings, with Q3 and Q4 expected to be solid driven by foreign tourist spending.
XRT LONG
Solid earnings and foreign buying drive recovery.
Solid earnings and foreign institutional buying, such as BlackRock increasing stakes, are driving a recovery in the pharma and biotech sector.
196170.KQ LONG
185750.KS LONG
028300.KQ LONG
068270.KS LONG
128940.KS LONG
Japanese banks and manufacturing brands hit highs.
Japanese banks and strong manufacturing brands are hitting historical highs, showing strong market resilience supported by the weak yen.
EWJ LONG
7762.T LONG
SEIKO LONG
7936.T LONG
Spiking long-term yields burden growth stocks.
Spiking long-term US Treasury yields, driven by massive corporate debt issuance and fiscal deficits, pose a significant burden on growth stocks.
TLT WATCH
Strong exports and undervaluation make cosmetics attractive.
Strong export data and solid earnings make undervalued cosmetics OEM/ODM companies highly attractive for dip buying.
241710.KQ LONG
161890.KS LONG
257720.KQ LONG
Undervalued tire stocks offer good dip-buying opportunities.
Tire stocks are showing strong upward trends and remain undervalued, offering good dip-buying opportunities.
073240.KS LONG
161390.KS LONG
Strong relative earnings make these equipment favored.
Companies like Hana Micron and Hana Materials are preferred in the semiconductor equipment sector due to their strong earnings relative to peers.
067310.KQ LONG
166090.KQ LONG
Positive outlooks drive strong memory sector rebound.
The Trump administration's warning to Apple against using Chinese memory chips acts as a positive catalyst for Korean memory makers.
000660.KS LONG
Data center expansion makes optical communications attractive.
Data center expansion and rising copper prices make optical communication and materials stocks highly attractive as alternatives to resting sectors.
218410.KQ LONG
010170.KQ LONG
327260.KQ LONG
138080.KQ LONG
CXL and capacity expansions drive substrate momentum.
Substrate and CXL-related companies are showing stronger momentum than larger peers due to capacity expansions and new technologies.
356860.KQ LONG
173130.KQ LONG
222800.KQ LONG
007810.KS LONG
253590.KQ LONG
353200.KS LONG
Shorter lead times provide a competitive advantage.
LS ELECTRIC is favored over peers due to its significantly shorter lead time of 10 months for power distribution equipment.
010120.KS LONG
Watch for rotation into robot component makers.
Investors should monitor robot component makers for rotation opportunities while they consolidate, as they provide essential parts like reducers and servo motors.
389500.KQ WATCH
140670.KQ WATCH
059120.KQ WATCH
US shipyard investment allowance benefits Hanwha Ocean.
The Trump administration's allowance for up to two naval ships to be built in foreign shipyards investing in the US directly benefits Hanwha Ocean.
042660.KS LONG
Earnings surprise and strong HRSG demand continue.
BHI delivered an earnings surprise and will continue to grow due to strong demand for Heat Recovery Steam Generators (HRSG) across various power plants.
083650.KQ LONG
Robotics momentum continues with market recovery.
Robotis beat Q2 earnings with surging actuator demand in China and North America, supported by a new factory expansion in Uzbekistan.
108490.KQ LONG
Earnings beat and real estate development drive growth.
Seobu T&D beat Q2 earnings expectations and benefits from increasing Chinese inbound tourists and real estate development projects in Yongsan.
006730.KQ LONG
Food and beverage stocks rebound from bottoms.
Strong earnings driven by K-food exports and significant undervaluation make food and beverage stocks attractive for long-term investment.
005180.KS LONG
K-food exports and undervaluation drive F&B stocks.
Strong earnings driven by K-food exports and significant undervaluation make food and beverage stocks attractive for long-term investment.
004370.KS LONG
Rising copper prices support power equipment stocks.
Rising copper prices and ongoing infrastructure investments support power equipment and wire stocks.
006340.KS LONG
103140.KS LONG
Anthropic stake provides momentum ahead of IPO.
SK Telecom's stake in Anthropic provides strong upward momentum ahead of Anthropic's expected IPO later this year.
017670.KS LONG
NVIDIA partnership accelerates humanoid robotics momentum.
Jensen Huang's daughter visiting LG Electronics accelerates their humanoid robot partnership, boosting related robotics stocks.
455900.KQ LONG
090360.KQ LONG
NVIDIA partnership drives humanoid robot momentum.
LG Electronics is partnering with NVIDIA to develop humanoid robots, which is expected to drive a strong rebound in its stock price after recent pullbacks.
066570.KS LONG
Strong memory momentum provides short-term rebound target.
The strong memory sector momentum provides a short-term rebound target for Samsung Electronics as it approaches its 60-day moving average.
005930.KS LONG
Anthropic's strong earnings boost AI infrastructure stocks.
Anthropic's explosive revenue growth and upcoming IPO ease AI bubble fears, boosting AI infrastructure and optical communication stocks.
AIQ LONG
Geopolitical risks and refining margins drive highs.
Geopolitical risks in the Middle East and refining facility issues are driving Valero Energy to historical new highs.
VLO LONG
AI infrastructure demand lifts semiconductor equipment stocks.
Strong demand for AI infrastructure is lifting semiconductor equipment and optical communication stocks, showing clear differentiation from big tech.
GLW LONG
LITE LONG
COHR LONG
AMAT LONG
MRVL LONG
North American ESS growth drives battery rebound.
ESS growth in North America and emerging humanoid battery momentum are driving a bottoming rebound in secondary battery stocks.
006400.KS LONG
AI data center cooling commercialization drives momentum.
Expectations for AI data center immersion cooling commercialization highlight LG Electronics' strong cooling tech and related companies like G2 Power.
388050.KQ LONG
SMR momentum provides upside for nuclear stocks.
Bill Gates' visit to Korea highlights SMR and AI power cooperation, providing upside potential for bottoming nuclear stocks like Doosan Enerbility.
034020.KS LONG
HIGH
10:00
Aug 17
Aug 17
EWY
Korean IT hardware sector
Korean Power Equipment Sector
Korean retail/department store sector
Korean Securities Sector
▾
HIGH
KOSPI breaks 8000, targets 9000.
The Korean market rebound is real: foreigners have shifted from aggressive 2026 selling to net buying since August, semiconductor deleveraging has largely cleared, KOSPI valuations remain historically cheap, and earnings visibility is returning. The KOSPI should break the 8000 overhead supply zone this year and retest the prior high near 9000.
EWY LONG
IT hardware and power equipment lead rebound.
Rebound leadership is broadening beyond semiconductors. Han still favors IT hardware and power equipment as part of a healthier KOSPI rebound, with power equipment already widely recognized but still supported by strong recent momentum and AI/data-center demand.
Korean IT hardware sector LONG
Korean Power Equipment Sector LONG
Foreign buying into lagging Korean retail.
Department store and retail names are another lagging group where foreigners have been net buying in August but share prices have not fully responded. With KOSPI rebounding and retail earnings holding up, the sector offers more rebound potential than already extended parts of the market.
Korean retail/department store sector LONG
Korean securities lag, offer high dividends.
Korean securities stocks are lagging the KOSPI rebound even though foreigners were among the largest net buyers of the sector in August. Valuations are cheap, some names offer 5-8% dividend yields, and the Q3 earnings normalization is already understood, leaving clear catch-up potential.
Korean Securities Sector LONG
AI capex still creates profitable demand.
The Nvidia-Wall Street AI alliance is a positive ecosystem development, not circular financing: hyperscalers' core businesses are still earning money even as FCF declines due to capex, and next year capex could approach $1T. This lowers the probability of a near-term AI bubble or cycle-collapse scenario and supports AI infrastructure and memory demand.
NVDA LONG
AMZN LONG
GOOGL LONG
MSFT LONG
META LONG
Memory downturn shallower; LTA supports earnings.
Korean memory semiconductors remain market leadership: spot DRAM prices are rising, NAND price declines are stabilizing, and SanDisk gave positive guidance with 80% margins and long-term agreements. LTA prepayments of 20-30% make contract cancellations less likely than in past downcycles, so the profit cycle peak-out should be gradual and high earnings levels maintained. Samsung Electronics and SK hynix are direct beneficiaries.
SNDK LONG
MU LONG
Memory downturn shallower; LTA supports earnings.
Samsung Electronics is expected to announce a shareholder return package around the market consensus of 100 trillion won, and SK hynix may announce in late August or early September. Earlier timing would be a positive catalyst, while a delayed announcement into September/October could raise expectations so much that 100 trillion becomes a sell-the-news event. Both are still expected to deliver a reasonable payout ratio similar to SanDisk and Micron.
005930.KS LONG
000660.KS LONG
USD/KRW rangebound with upside to 1450.
USD/KRW has likely reached its lower bound near 1410; a move to 1300 is difficult. The expected range for the rest of the year is around 1410-1450 with more upside than downside, but not above 1500, as yen strength and corporate overseas investment flows limit the extent of further won strength. This level also makes foreign investors less sensitive to currency risk.
USD/KRW WATCH
HIGH
08:30
Aug 17
Aug 17
KOSDAQ large-cap stocks
Korean semiconductor materials/parts/equipment stocks
Korean ESS/secondary battery stocks
068270.KS 1ST
NVDA 1ST
▾
HIGH
KOSDAQ large caps get policy-driven inflows.
After Samsung Electronics and SK hynix recover somewhat, investors should look for the next high-growth names and money may rotate into KOSDAQ leadership around Chuseok. If the government wants to lift KOSDAQ, it could create a narrower KOSDAQ 50 index, driving passive ETF flows and other funds into a small number of large-cap KOSDAQ names, potentially giving the index more upside buffer.
KOSDAQ large-cap stocks LONG
Memory strength decides semiconductor small-cap leadership.
KOSDAQ leadership can rotate to semiconductor materials/parts/equipment only if Samsung Electronics and SK hynix continue their uptrend. If those memory leaders stall or re-enter a downcycle, semiconductor materials/parts/equipment and physical AI names are unlikely to emerge as leaders, so the sector is a conditional watch rather than a standalone long.
Korean semiconductor materials/parts/equipment stocks WATCH
Buy ESS/secondary battery on datacenter power.
With oil prices elevated and US AI data center construction booming, power shortages for data centers are highly visible. A new Korean tax credit provides 1x to 1.5x benefits for domestic solar, wind, and secondary battery companies using domestically produced materials. The speaker prefers KOSDAQ ESS/secondary battery-related stocks, including cathode and battery names, over chasing semiconductor small caps.
Korean ESS/secondary battery stocks LONG
Large-cap biotech is cheap with growth.
Samsung Biologics and Celltrion have steadily rising revenue and operating profit while their share prices have fallen, pushing PER toward value-stock levels. They may increasingly emphasize shareholder returns and become dividend-like stocks, are expanding overseas, and benefit structurally from aging demographics and older cohorts with greater spending power.
068270.KS LONG
207940.KS LONG
Nvidia is primary AI datacenter beneficiary.
Nvidia's GPU rental prices are still rising even for older models, showing explosive cloud demand. Nvidia is now backstopping GPU value to bring in Wall Street funding for data centers, which should accelerate data center construction. Since about 40% of AI data center cost is GPUs, Nvidia is the biggest beneficiary, while Samsung Electronics, SK hynix, and Micron also benefit near term.
NVDA LONG
Netflix and Airbnb are cheaper defensive growth.
As part of a personal Plan B, about 40% of the portfolio can go to companies capable of growing annual revenue and profit by more than 10% that have been neglected by AI and have become cheap. He names Netflix and Airbnb as examples of companies that were previously too expensive but are now reasonably priced, offering long-term stability even if share prices fall.
NFLX LONG
ABNB LONG
Follow foreign flows in Samsung/SK hynix.
Foreign investors have shifted from heavy selling to buying Samsung Electronics and SK hynix, and have also been buying futures in five of the last six sessions. Nasdaq is near highs, Nvidia GPU rental prices are still rising, and near-term memory demand looks acceptable, so foreigners appear to be betting on a partial recovery because the stocks became cheap after sharp declines. The speaker argues investors should follow the foreign buying trend now and reduce or exit when foreign net selling turns decisive, rather than anchoring to their own cost basis.
000660.KS LONG
005930.KS LONG
HIGH
07:00
Aug 17
Aug 17
042660.KS
034020.KS
267260.KS
005930.KS 1ST
EWY
▾
HIGH
Hanwha Ocean likely stays rangebound after rebound.
Hanwha Ocean, one of the representative shipbuilding stocks, retraced about 61.8% of its rally and is rebounding after falling from 154,800 won to 72,000 won. Lee expects the stock to trade inside a support-resistance band for the time being rather than immediately resuming a strong trend.
042660.KS WATCH
Doosan Enerbility bounce ambiguous; monitor wave structure.
Doosan Enerbility has bounced from around the 61.8% retracement zone, but its monthly chart is giving sell signals with weak volume. The wave interpretation is split: bulls see wave 4 ending and wave 5 beginning, while cautious traders see an A-B bounce with a possible C wave down, so the tradeable stance is to monitor rather than chase.
034020.KS WATCH
HD Hyundai Electric technical bounce reaches resistance.
HD Hyundai Electric held the 200-day moving average and the 61.8% retracement of its rally, confirming a valid technical bounce in a large liquid stock. It has now risen to the 38.2% retracement of the decline, where an upper wick appeared, making this a useful level to watch for resistance before deciding on continuation.
267260.KS WATCH
Foreign buying returning; avoid selling into it.
Foreign investors have returned to net buying Korean stocks for consecutive sessions while retail investors are net selling, and Lee reads this as a short-term foreign bid returning. He cites Singapore sovereign fund interest in Samsung Electronics and SK hynix, interprets a Bloomberg 'uninvestable' column as a signal to shake out leveraged retail positions so institutions can buy cheaper, and notes Morgan Stanley saying it is time to buy. His tactical rule is not to sell on days when foreigners are buying.
005930.KS LONG
EWY LONG
000660.KS LONG
Watch BOJ hike for yen carry shock.
Ahead of the September FOMC and BOJ meetings, the key risk is the BOJ raising rates and the market flinching. If the BOJ hikes 25bp and markets take it calmly, the rest of 2026 should be okay; if markets panic as in August 2024, that is a warning sign for yen carry trade unwinds and global risk assets.
JPY WATCH
USD/JPY WATCH
USD/KRW likely rangebound; 1,600-1,700 unjustified.
On dollar-won, Lee says domestic foreign-exchange fundamentals do not justify a move to 1,600-1,700. After the sharp drop from around the 1,560 area toward 1,410, he expects the pair to stay within the technical band between descending resistance and the lower connecting support line. If supply breaks the lower support, USD/KRW could visit 1,300, but an external trigger is needed.
USD/KRW WATCH
Rainbow Robotics valuation extreme despite technical bounce.
Rainbow Robotics has bounced from the 61.8% correction zone, but its valuation is extreme: trailing PER is about 6,500-7,700x and even the 2026 estimated PER is about 620x. Lee uses it as an example of robot-sector speculation where price cannot be justified by current earnings, so the technical rebound is not a fundamental long.
277810.KQ AVOID
Hanwha Aerospace rebound hits resistance; stay watchful.
The defense-related Hanwha Aerospace retraced about half of its decline and bounced sharply, but the daily chart is now at a level connecting prior highs where upside momentum is weakening. It remains well below its 1,655,000 won high, so Lee treats this as a rebound into resistance rather than a confirmed new uptrend.
012450.KS WATCH
Hyundai Motor cheap valuation supports rebound.
Hyundai Motor crashed about 56% from its high and is rebounding about 23% from the low. Lee highlights that the stock trades at only about 11-12x trailing earnings and roughly 9-10x forward earnings, even though the market increasingly treats it as a robot company. This valuation discrepancy is favorable relative to speculative robot names.
005380.KS LONG
HIGH
04:00
Aug 17
Aug 17
SPCX
Korean SpaceX-related small caps
TSLA
Space data center infrastructure
012450.KS 1ST
▾
HIGH
Own SpaceX, not volatile Korean related stocks
Space data centers should be viewed as an AI data-center bottleneck play, not a feasibility debate. They are scientifically possible but currently far more expensive than ground data centers. The reason SpaceX, Amazon, Blue Origin, Nvidia and Google are investing is that ground costs are rising while space launch costs are falling, so they expect an economic crossover. Starship commercialization is the key variable that lowers launch costs and increases visibility for space-based infrastructure such as Starlink, surveillance and data centers.
SPCX LONG
Space data center infrastructure WATCH
Own SpaceX, not volatile Korean related stocks
If an investor is bullish on SpaceX, the cleanest exposure is SpaceX itself rather than Korean SpaceX-related small caps. Domestic related names are mostly small or mid caps with thin order books, supply-driven rallies and very high volatility. They do benefit when SpaceX rallies, but they can become fragile and are harder to own through the volatility swings.
Korean SpaceX-related small caps AVOID
Tesla likely funds Terrafab and SpaceX synergies
Terrafab remains early-stage and unspecified in SpaceX's S1 filing, but the researcher expects it to center on Tesla rather than SpaceX. SpaceX is already spending heavily on data-center capex, while Terrafab is more R&D-like and Tesla has much stronger cash flow. Musk also has incentive to keep SpaceX's valuation high in any merger, so the burden and strategic emphasis are likely pushed toward Tesla, with Tesla increasingly emphasizing robotics and Terrafab over autos.
TSLA WATCH
Hanwha Aerospace for defense-plus-space exposure
There is no large pure-play space company in Korea; the closest leader is Hanwha Aerospace, which is essentially a defense company with a space segment. Investors positive on defense can own it and treat space as an additional growth driver. Investors wanting purer space exposure have to go down to small caps such as Intellian Tech or Seti, which carry high volatility and require individual stock analysis.
012450.KS LONG
Korean small-cap space stocks AVOID
Starlink subscribers grow on B2B and coverage
Starlink subscriber growth is accelerating because it offers 4G-quality connectivity in underserved areas, true no-coverage zones, and maritime/aviation B2B where terrestrial networks cannot reach. The second-quarter beat was driven by B2B service revenue, and Starship deployment of better satellites should improve service quality and further increase subscriber share.
STARLINK LONG
HIGH
23:30
Aug 16
Aug 16
000660.KS
SMH FLIP
Korean power equipment stocks
MU FLIP
Korean cable stocks
▾
HIGH
Foreign IBs turned bullish on memory
Lee says the fear that Rubin Ultra's HBM4 capacity cut halves HBM demand is a misunderstanding. Nvidia itself said the supply is so tight that per-package capacity may be adjusted to keep total units up. HBM content pricing rises from Blackwell to Rubin, and Google's TPU may become the top HBM demander next year, keeping Samsung and SK Hynix supply tight into next year. On commodity DRAM, Chinese competition can pressure DDR4/DDR5, but Korean makers were already shifting lines to HBM and server DDR5, and memory suppliers still hold pricing power.
000660.KS LONG
005930.KS LONG
Trim semiconductor weight; conservative on derivative sectors
Lee cautions that investors should not hold 80-90% semiconductor weight like last year and should cut the weight somewhat. He also says sectors that already rose more than semiconductors on the same AI theme, including power equipment, cables/wires, and MLCC, should be approached conservatively and separated from the core semiconductor trade.
SMH AVOID
Korean power equipment stocks AVOID
Korean cable stocks AVOID
Micron has HBM4 redesign problem
Lee says the HBM4 qualification delay issue is probably not SK Hynix but Micron Technology. According to his industry checks, Micron received a redesign request on HBM4, which usually takes more than a year. Samsung passed qualification quickly with the best sample test score and SK Hynix had no major problem. Micron therefore looks like it has a real HBM4 problem over the near term.
MU AVOID
Foreign long-term inflows calm KOSPI volatility
Lee argues the leveraged ETF-driven volatility phase is mostly complete. Financial investment ETF holdings shrank and ETF selling emerged, while foreigners filled the gap with intermediate and long-term money. In the past, such foreign inflows tended to produce less violent, stair-step upward moves rather than sharp spikes, so he expects Korean market volatility to decline and a steadier advance.
EWY LONG
HIGH
11:00
Aug 16
Aug 16
SNDK 1ST
WDC 1ST
SK Hynix ADR
VRT 1ST
NVDA
▾
HIGH
Memory/storage semiconductors outperform within AI.
On August 14, while US equities were pressured by soft consumption and higher long-term rates, memory/storage semiconductor names outperformed: SanDisk +7.39%, Seagate +5.65%, Western Digital +4.41%, Micron +2.3%. The speaker says the AI semiconductor market has entered a phase where names confirming demand and beating expectations are being rewarded, with buying concentrated in memory/storage.
SNDK LONG
WDC LONG
STX LONG
AI flows rotate beyond GPUs to infrastructure.
Korean retail investors sold 3x semiconductor leveraged ETFs and former AI leaders Nvidia, Broadcom, and Microsoft, while continuing AI exposure by rotating into HBM/memory names such as SK Hynix ADR and Micron, cloud AI service platforms Amazon and Alphabet, and power/cooling infrastructure Bloom Energy and Vertiv. This shows AI investment expanding from GPUs into memory, cloud, power, and data center infrastructure.
SK Hynix ADR LONG
VRT LONG
BE LONG
AMZN LONG
MU LONG
GOOG LONG
Nvidia financing fuels AI infrastructure value chain.
Nvidia's $500B+ AI infrastructure financing platform with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR uses a residual value guarantee of up to 25% to attract Wall Street long-term capital and raise customer GPU purchasing power. The speaker views this as a short-term positive catalyst for AI semiconductors, power, and data center infrastructure, while flagging residual value and circular financing risks.
NVDA WATCH
AI infrastructure value chain LONG
CoreWeave/Supermicro confirm real AI orders.
CoreWeave's Q2 revenue rose 112% year over year with adjusted operating income above guidance and a $104B order backlog, confirming AI compute demand. Supermicro posted FY26 revenue growth of 78% and record Q4 new orders exceeding $60B with FY27 revenue guidance of $65-72B, showing orders are converting into actual server deployments. This supports the view that the AI cycle has shifted from capex competition to real orders and revenue, though CoreWeave's leverage and Supermicro's timing/margin volatility are risks.
CoreWeave LONG
SMCI LONG
Korean export recovery broadens beyond semiconductors.
July Korean exports rose 62.8% year over year to $98.89B, a 14th consecutive record month, led by semiconductor exports up 178.8%. The speaker emphasizes the recovery is not semiconductor-only: autos rose 7%, ships rose 79.9%, and 19 of 20 major export items increased, so domestic equity leadership can rotate beyond semiconductors into autos, shipbuilding, and industrial/parts sectors.
Korean industrial/parts sector LONG
Korean autos sector LONG
Korean shipbuilding sector LONG
Samsung Tech Tour may catalyze Korean semis.
Samsung Electronics' Tech Tour beginning August 20 is seen as a key catalyst. The market will watch HBM4 competitiveness, next-generation DRAM, NAND strategy, foundry yields, and AI customer progress. If these points land positively, they could improve sentiment for Samsung Electronics and Korean semiconductor materials/components/equipment names.
Korean semiconductor materials/components/equipment WATCH
005930.KS WATCH
Korean rally broadens beyond mega-cap semis.
KOSPI rebounded sharply and Samsung Electronics and SK Hynix returned as leaders, but unlike past semiconductor-led rallies, the move did not concentrate solely in those two names. KOSDAQ also rose more than 8%, which the speaker interprets as improving rally quality and a healthier broader Korean market advance.
KOSPI 200 Index LONG
KOSDAQ 150 Index LONG
Oversold Hyundai Motor tests 200-day line.
Hyundai Motor rose more than 8% after having fallen from near 780,000 won to the mid-300,000s, driven by an oversold rebound. The stock is now testing its 200-day moving average, a key technical line, and the speaker suggests considering Hyundai Motor Group-related and physical AI-related ETFs this week while monitoring whether it breaks the 200-day resistance.
005380.KS WATCH
Hyundai Motor Group Plus ETF WATCH
Foreign options bet low volatility upside.
Foreigners are building KOSPI 200 option positions that are short volatility and mildly upward-biased. The payoff is centered around a rise toward the 1,200 area, with downside puts below 850 as tail protection. This suggests the foreign options market is positioned for declining volatility and a moderate upward drift rather than a large breakout.
KOSPI 200 futures WATCH
HIGH
08:45
Aug 16
Aug 16
LG Group
Hyundai Motor Group
Samsung Group
KOSDAQ
Korean pure-play humanoid stocks
▾
HIGH
Focus robot stocks on group-linked value chains.
Korean humanoid robot investing should focus on large Korean conglomerates and their value chains, especially Hyundai Motor Group and LG Group now, with Samsung Group to watch once it demonstrates real humanoid performance. Pure-play Korean humanoid firms have not shown credible technical demonstrations, while Korea's economy is group-centered, government policy is promoting humanoid robots, and defense/dangerous-site demand should expand. Robot businesses will become concrete mainly through groups and their parts suppliers.
LG Group LONG
Hyundai Motor Group LONG
Samsung Group WATCH
Korean pure-play humanoid stocks AVOID
KOSPI likely beats KOSDAQ without policy.
KOSDAQ needs concrete government policy, not penny-stock delisting gimmicks but activation measures and listing-tier rules, to generate additional upside. Earnings and relative merit still favor KOSPI over KOSDAQ, so KOSDAQ is likely to move mainly through rotational flows when leading stocks rest or when biotech/materials/parts names get individual momentum.
KOSDAQ WATCH
EWY LONG
Hyundai Motor Group upside remains intact.
Hyundai Motor Group shares fell because leveraged ETF-driven supply/demand distortions broke positioning, not because fundamentals changed. The group is still actively pushing robotics with suppliers, Boston Dynamics is a globally leading humanoid asset, autonomous driving via Motional/42dot/Waymo collaboration and UAM are future optionality, so common shares have open upside. Shareholder return expansion may be limited, but governance restructuring momentum can support related stocks.
012330.KS LONG
005380.KS LONG
Avoid Hyundai Motor preferred versus common.
Hyundai Motor preferred shares are unlikely to outperform common because the dividend was cut for the first time in five years, large dividend increases are not expected, and common share upside is now open via robots, autonomous driving, and UAM. Preferred shares historically had merit when common upside was capped and dividend yields were high, but now their performance should lag absent much larger dividends; governance restructuring is the better way to play the group.
005385.KS AVOID
Korean biotech bottom is confirmed.
Korean biotech has likely confirmed a bottom. Alteogen's market-cap convergence with a large-cap peer was unreasonable because Alteogen's patent runway and current/expected licensing deals should keep expanding its revenue pool; another biotech name that received government growth-fund preferred funding fell from the 97,400 won minimum issue price toward 70,000 won, which the speaker also sees as unreasonable. Since biotech often moves as a group via ETF/passive flows, individual catalysts can lift the sector.
Korean biotech sector LONG
196170.KQ LONG
Nuclear stocks are rotation only, not leading.
Nuclear-related shares can participate as a rotation/momentum theme, and foreign supply/demand for Doosan Enerbility was intense in the past, but valuations remain extreme and the trapped supply needs more concrete fundamentals/catalysts before the group can lead again. Near-term expectations for another explosive rally are low.
KORU WATCH
034020.KS WATCH
Solar/polysilicon preferred over nuclear now.
Solar and polysilicon are more attractive than nuclear now because China has restricted loss-making polysilicon exports, the US is strengthening barriers against Chinese supply, and conference-call long-term supply agreements are based on data that makes analysts project a sharp profit jump for related companies. Power shortages and faster installation timelines than nuclear add visibility, though he is not yet aggressively adding.
TAN LONG
HIGH
07:00
Aug 16
Aug 16
EWY
005930.KS
AIQ 1ST
000660.KS
MU 1ST
▾
HIGH
KOSPI can break 8000 this year.
Han Ji-young argues the KOSPI can break above the 8,000 level within this year because the equity market already paid the price for profit-cycle peak-out fears in July, when the index dropped roughly 20% during the month before recovering. Korean operating profit consensus still points to around 980 trillion won this year, 1,300 trillion won next year and 1,350 trillion won in 2028, implying high earnings levels are maintained even after growth peaks. Late August/early September catalysts such as Samsung/SK Hynix shareholder return, the September FOMC, or Q3 earnings can help absorb overhead supply near 8,000.
EWY LONG
Memory downcycle will be shallower than before.
Samsung Electronics is likely to announce shareholder return around the market consensus of 100 trillion won, and SK Hynix is likely to give its 3Q update. The market verification bar has risen for memory companies; after strong cash accumulation, investors now demand shareholder return. Timing matters: announcement in late August/early September would be most helpful for shares, while waiting until September/October could make even 100 trillion won a sell-the-news event. Companies are likely to offer at least reasonable levels, potentially matching SanDisk/Micron ratios.
005930.KS LONG
000660.KS LONG
AI infrastructure investment cycle remains intact.
The Nvidia/Wall Street AI alliance is not circular-financing weakness; it builds an ecosystem that reduces financial risk across the AI value chain. Wall Street's participation shows it still sees future AI demand and abundant profit opportunities. US hyperscalers are raising capex to about $760 billion this year and likely toward $1 trillion next year, and despite FCF declines their core businesses are earning more, validating AI infrastructure spending. This supports HBM/server DRAM demand and means negative AI-bubble and AI-investment-cut scenarios should be de-emphasized.
AIQ LONG
NVDA LONG
Memory downcycle will be shallower than before.
Memory makers now have 5-year LTAs with 20-30% prepayments, giving them contractual and business leverage. Even if a memory downcycle comes, customers have lower incentive to break contracts because prepayments are larger and because breaking would jeopardize future supply in the next cycle. This should reduce the amplitude of the memory downcycle and keep semiconductor earnings at a high level even after growth peaks. July already priced peak-out concerns.
MU LONG
HIGH
05:30
Aug 16
Aug 16
KS 1ST
Korean engine stocks
Korean LNG shipbuilders
▾
HIGH
Floating data centers favor Korean shipbuilders.
Big Tech's urgent demand for floating data centers is a new high-value opportunity for Korean shipbuilders. Land-based US data center construction is increasingly blocked by cancellations and local boycotts, so buyers want data-center-only floating platforms built quickly. Korean yards can supply these using existing docks, hull-side technology, and offshore plant experience. Even if only about 1GW of annual US data-center construction shifts to floating, the impact could resemble the emergence of LNG carriers, and orders could deliver several times the effect of ten ordinary tankers with better margins.
KS LONG
Engine stocks' earnings will grow faster.
Engine stocks should show earnings growth faster than shipbuilder stocks. Sales by engine makers supplying Chinese shipyards are growing sharply and are expected to expand a lot next year and the year after. An unlisted engine parts company reported that next-year volumes are already secured at a very large scale. Engines are essential core equipment with export scalability, offering shipbuilding-cycle exposure without the concern that shipbuilder stocks have already risen too much.
Korean engine stocks LONG
Japan's LNG gap helps Korean shipbuilders.
Korea's LNG shipbuilding leadership is strengthened by Japan's LNG technology gap. Japan's LNG cargo-hold technology team has no project history, so its LNG technology pipeline has effectively been severed, and Japan is now asking Korea to transfer LNG technology because Korea is the only remaining source. This supports Korean shipbuilders' LNG carrier competitiveness and international order potential.
Korean LNG shipbuilders LONG
HIGH
01:30
Aug 16
Aug 16
WTI
KOSDAQ
066570.KS
096770.KS
078930.KS 1ST
▾
HIGH
Watch WTI oil above $80
The U.S. may shift from direct Iranian military action toward Hormuz control and sanctions, keeping oil prices elevated. WTI above $80 is psychologically burdensome, and a move to $90 could revive inflation risk and pressure rate-sensitive markets, so oil should be monitored daily.
WTI WATCH
KOSDAQ may rest next week
After a three-day holiday and next week's event vacuum, short-term profit-taking could emerge because the market has risen quickly, especially in KOSDAQ where technical burden has built up. He advises new buyers not to rush and expects a rest week rather than a sharp drop.
KOSDAQ WATCH
LG robotics momentum should lift stock
AI data center immersion cooling commercialization expectations could lift cooling-related names, and LG Electronics is a key player with leading chiller and cooling technology and actual AI data center cooling supply. He does not recommend chasing immediately and suggests waiting for a pullback.
066570.KS LONG
Refining margins support Korean refiners
Korean refiners are benefiting from damaged Russian refining capacity and elevated refining margins. Second-quarter earnings were very strong, third-quarter results are expected to be strong, and refining/lubricant profits remain large, with potential shareholder return expectations.
096770.KS LONG
078930.KS LONG
010950.KS LONG
US warship orders support Korean shipbuilders
Trump's decision to allow two warships from foreign shipyards investing in the U.S. is a meaningful catalyst for Korean shipbuilders, with Hanwha Ocean the most active U.S. investor and likely priority beneficiary. Warship orders are expensive and could open a new project pipeline, though July delivery data and technical burden keep the group heavy short-term.
042660.KS LONG
009540.KS LONG
Robot value chain momentum continues
The robot value chain surged across Robotis, SPG, Higen R&M, reducers and actuators. Robot momentum should continue, but because the sector is high-PER it needs a supportive market; if the market holds, robot names should keep outperforming, with any pullback likely followed by renewed upside.
058610.KQ LONG
160190.KQ LONG
108490.KQ LONG
Department stores lag earnings; catch-up likely
Department stores reported strong second-quarter earnings and are likely to sustain earnings into Q3 and Q4, yet their stocks have lagged while convenience stores such as BGF Retail trade near highs despite sharing the same foreign tourist momentum. Foreign buying should support department stores into the second half.
Korean Department Store Sector LONG
Pharma/bio supply-demand easing supports sector
Pharma/bio sentiment is reviving as previously locked-up supply-demand eases. Hanmi Pharmaceutical has stable earnings and multiple pipeline events in obesity, oncology and rare disease, while Celltrion is already rewarding with a steady uptrend. BlackRock and foreign institutions are increasing Korean pharma/bio names such as Alteogen, HLB and Chong Kun Dang, suggesting continued sensitivity to foreign buying news.
068270.KS LONG
196170.KQ LONG
185750.KS LONG
028300.KQ LONG
128940.KS LONG
US Treasuries offer safe 5% yield
The U.S. 30-year auction yield hit its highest since 2001 at over 5%. For investors with substantial cash, U.S. Treasuries are attractive because they offer a safe-haven asset yielding above domestic Korean deposits, even with duration risk if rates rise.
TLT LONG
Memory tightness continues; sector bullish
Memory tightness remains a key AI bottleneck. SanDisk guided for strong long-term revenue growth, SK Group leadership warns of worst memory shortage next year, and Musk continues to say the real bottleneck is memory, supporting a favorable memory sector backdrop.
SMH LONG
Hyundai group has robot catalyst August
Hyundai Motor Group is structurally positioned as one of Jensen Huang's final Korean hardware partners along with LG. Hyundai is building a robot chain with about 200 parts suppliers, and the August 26 Hyundai CEO Investor Day is likely to specify robot strategy and possibly new shareholder return plans, creating momentum into the event.
307950.KS LONG
012330.KS LONG
005380.KS LONG
000270.KS LONG
Nuclear stocks bottoming; upside remains
Bill Gates's visit and SMR AI power cooperation with TerraPower and Doosan Enerbility give nuclear stocks future momentum. Although actual SMR construction will take a long time and the sector is lower priority than solar or stronger earnings sectors, nuclear stocks have fallen to a bottoming zone and the direction is still upward.
034020.KS LONG
North America ESS boosts Korean battery makers
Secondary battery stocks are gradually recovering from the bottom on BESS, data center and renewable energy demand. North American ESS growth is strong, with LG Energy Solution and Samsung SDI posting meaningful North American battery shipment volumes, while China sanctions and humanoid battery momentum support Korean battery makers.
006400.KS LONG
HIGH
23:30
Aug 15
Aug 15
KBE 1ST
AI Data Center Infrastructure
KOSDAQ
000660.KS
INTC 1ST
▾
HIGH
US equities remain buyable into midterms
U.S. soft retail sales and sentiment data reflect normalization of World Cup-related hospitality overshoot, not a recession. U.S. indices are near highs and are digesting supply at prior highs with low volume, so the environment remains buyable. Sector rotation favors autos, consumer discretionary and rate-sensitive banks as midterm election stimulus expectations build, while technology exposure has diminished.
KBE LONG
XLY LONG
SPY LONG
AI data center buildout continues
Midterm election uncertainty may pressure markets through September, but the July selloff already reflected much of that risk. Hyperscaler earnings confirmed data center construction continues and next-year capex will increase, so AI momentum can expand into August and the AI/data center buildout thesis remains intact.
AI Data Center Infrastructure LONG
Hold Samsung, SK Hynix over KOSDAQ
Individual investors often sell near breakeven and hand upside to foreigners. If they rotate from semiconductor leaders into KOSDAQ as Samsung Electronics and SK hynix rally, they may suffer again. The current strategy should be to hold semiconductor leadership rather than chase the KOSDAQ rebound.
KOSDAQ AVOID
Samsung, SK Hynix memory rebound underway
Three factors dragged Korean memory names lower in July: Morgan Stanley's peak-cycle call, China memory threat from CXMT's IPO, and weak shareholder returns. The peak-cycle concerns were diluted by hyperscaler capex and cloud earnings, the China threat moderated, and Samsung and SK hynix are expected to announce stronger shareholder return policies. Expect a memory rebound.
000660.KS LONG
005930.KS LONG
Inference shift favors AMD and Intel
AI is transitioning from training to inference, lifting the role of CPUs. AMD surged, and names like AMD and Intel are regaining footing as the market moves beyond the training phase. Memory and non-memory semiconductors can both do well into the second half.
INTC LONG
AMD LONG
Workday buyout rejects software uselessness
The private equity buyout pursuit of Workday lifted its market cap roughly 30%, signaling that software companies still have recognized value in AI. The market interpreted the move as evidence that AI-driven software uselessness fears and the associated software selloff were overdone, though the deal is not confirmed.
WDAY LONG
Nvidia circular financing remains risk watch
Nvidia's reported fund and collateralized lending arrangement is different from normal Big Tech bond issuance. It is a circular financing structure that could become a recurring market pressure factor. If entities receiving circular investment show credit wobble, it could reflexively hit Nvidia.
NVDA WATCH
Long-term foreign funds lift KOSPI
Recent four-day foreign buying of over KRW 9 trillion is different from prior short-term hedge fund money. Inflows are coming from long-term funds such as US and European pension funds and Singapore thematic funds, while passive rebalancing selling and short-term hedge fund selling crossed near the bottom. This typical inflection setup supports a medium-term KOSPI rally into year-end.
EWY LONG
Korean defense, power equipment expensive
Korean defense and power equipment sectors are among the few areas that trade at higher valuations than their U.S. peers, so investors should be selective rather than blindly chasing these AI-derived or policy-driven sectors.
Korean defense sector AVOID
Korean Power Equipment Sector AVOID
HIGH
10:30
Aug 15
Aug 15
EWY
KOSDAQ Index
US10Y
MU
017670.KS
▾
HIGH
Korean market bottomed, foreign inflows returning.
Lee Ju-yeon argues the Korean market has made a meaningful bottom: KOSPI's weekly chart held above prior lows, and this week foreign investors returned with nearly 8 trillion won in net buying on top of seven straight weeks of global inflows. The rally can become self-reinforcing because institutional equity weightings were reduced during the decline and institutions are now underperforming their benchmark, forcing chase buying that could evolve into a short-squeeze-like advance if foreign inflows, semiconductor momentum, and institutional buying continue.
EWY LONG
KOSDAQ Index LONG
Watch 10-year Treasury yield closely.
The 10-year Treasury yield is the most important short-term variable. It surged to 4.7% after weak retail sales and inflation expectations, pressuring growth stocks. Rate hike odds have receded given weak jobs, subdued inflation, and weak consumption, so yield spikes are expected to be temporary, but next week's market direction will likely track the 10-year yield closely.
US10Y WATCH
Memory demand strong; Micron can re-rate.
SanDisk's investor day was well received and confirmed strong memory demand, lifting SanDisk more than 7% and Micron 2.3%. Applying SanDisk's model to Micron implies a re-rating from roughly 6-7x PER toward 10-12x, supporting substantially higher memory-related share prices.
MU LONG
SK Hynix ADR LONG
SNDK LONG
SK Telecom, NAVER, LG data-center plays.
Within Korean AI/data-center names, Lee explicitly says to watch SK Telecom, NAVER, and LG as data-center-related large caps because data center momentum is forming on top of earnings expectations.
017670.KS LONG
LG LONG
Physical AI robotics value chain leads.
Physical AI is the main theme and Hyundai Motor is the center of the Korean robot value chain. Lee recommends watching Hyundai Autoever, Hyundai Mobis, HL Mando, SPG, Robotis, LG Innotek, LG Electronics, and also Rainbow Robotics and NAVER as part of the broader physical AI/robotics chain.
108490.KQ LONG
012330.KS LONG
058610.KQ LONG
066570.KS LONG
005380.KS LONG
204320.KS LONG
307950.KS LONG
035420.KS LONG
277810.KQ LONG
Curacle moves with Ingenia IPO.
Ingenia Therapeutics, a biotech with more than 1 trillion won in technology-transfer history, lists on Tuesday. Curacle shares the same IPO momentum, so Curacle is likely to move together with Ingenia before and around the listing, with some of that expectation already being reflected.
365270.KQ LONG
Post-earnings rotation favors earnings-insensitive sectors.
With earnings season essentially over, Lee expects leadership to rotate into sectors where earnings were not the main driver and where the earnings burden had been heavy. Healthcare/biotech, robotics, aerospace, secondary batteries, renewables, and ESS are candidates to strengthen next week.
ITA LONG
BATT LONG
Watch retail earnings for consumer signal.
Next week's US retail earnings from Home Depot, Target, and Walmart will provide a check on consumer health at a time when retail sales and sentiment have deteriorated. Lee says these reports can drive market volatility and should be watched closely.
WMT WATCH
HD WATCH
TGT WATCH
HIGH
08:30
Aug 15
Aug 15
USD/JPY
TLT 1ST
005930.KS
USD/KRW
000660.KS
▾
HIGH
Watch BOJ hike and yen carry.
The key macro trigger is the coming BOJ rate hike. The market already expects a 25bp BOJ move around the September meeting, similar to August 2024. If the BOJ hikes and markets take it calmly, the rest of 2026 and early 2027 can probably proceed without major trouble; but if markets tremble, yen carry trade unwinds become a clear warning signal and investors should turn defensive.
USD/JPY WATCH
US Treasuries face fiscal and selling risk.
The U.S. Treasury market is structurally vulnerable because chronic fiscal deficits and heavy issuance mean foreign holders may sell Treasuries when funding tightens. Washington is trying to prevent this with FX intervention, lending facilities, and warnings not to sell U.S. debt, but interest costs already exceed defense spending and the risk remains. Lee is watching whether Treasury Secretary Bessent can actually defend Treasury yields and dollar funding.
TLT AVOID
Semis are two-sided and flow-driven.
Semiconductor and memory stocks are two-sided rather than one-way. Michael Burry's short on HBM names is based on depreciation running only about three years, while CoreWeave-type data suggests AI rental prices keep rising and AI assets may hold value even to ten years. On top of that, leveraged ETF and hedge fund flows, including Citadel's activity, are creating violent, flow-driven swings that are not primarily fundamental. Lee expects continued volatility and says the story is not finished.
005930.KS WATCH
000660.KS WATCH
Watch USD/KRW range; break targets 1300.
On FX, domestic Korean external fundamentals do not support a move to 1,600-1,700 won unless wealthy residents aggressively ship dollars abroad. USD/KRW is likely to trade inside a range defined by trendlines; if the lower support line breaks on heavy supply, a quick move to around 1,300 won is likely. Korean retail investors facing FX losses on U.S. stocks and possible repatriation if U.S. markets wobble could add to won strength.
USD/KRW WATCH
HIGH
07:00
Aug 15
Aug 15
000660.KS 1ST
SKYY 1ST
US Data Centers
278470.KS 1ST
US Software
▾
HIGH
Memory leaders rally further but volatile.
Jeon In-gu views Samsung Electronics and SK Hynix favorably but expects extreme volatility because memory demand and volumes are known while memory unit price direction is unpredictable. After KOSPI peaked near 9,300 and SK Hynix roughly halved, popular national stocks historically do not collapse all at once and tend to produce at least a second and third rally, so he sees the current rebound as a second upleg. However, near SK Hynix 2 million won strong selling may emerge unless earnings, guidance upgrades, or memory price increases appear, and he expects a stressful second half with money gradually rotating to other sectors.
000660.KS LONG
005930.KS LONG
US cloud, data center, software outperform.
The AI theme is not broken but rotating. Memory earnings look best in 2027 with 2028 guidance not clearly better, so investors are shifting money toward areas with visible high growth. He says US cloud, data center, optical, and software names are currently favored because big tech earnings and cloud growth remain strong, while software stocks bottomed and rebounded. Korea lacks pure large-cap cloud, data center, and global software names, so this rotation is expressed through US sectors.
SKYY LONG
US Data Centers LONG
US Software LONG
Korean beauty is cheap high-growth leader.
Korean beauty can become the new leading striker after Samsung Electronics and SK Hynix. At a June beauty seminar he found a consensus that European sales were surging, Korean brands were increasingly entering Amazon's top 100, and the mix was shifting from cheap color cosmetics toward higher-value skincare. Europe opening as a continent means the trend likely persists for years. Many beauty companies double net profit every three years yet trade at two-year-forward PERs of 5-10x, offering cheap high growth with no AI linkage. APR is his preferred leader because of its brand portfolio, larger US top-100 presence, and better US response, balancing growth and stability for long-term holding of at least three years.
278470.KS LONG
Korean beauty LONG
SK Telecom leads Korean data-center buildout.
Korea's 18.5GW data center mega project is led by SK Telecom for about 15GW, and SK Telecom's CEO met Jensen Huang with SK Chairman Chey Tae-won. He argues that canceled US data center projects threatened GPU/HBM demand, so Korean builds offset that demand. Sovereign AI data centers are becoming national strategic assets, and if non-US builds accelerate, GPU/HBM prices, memory stocks, and KOSPI can rise again. SK Telecom is the clear frontrunner with an Anthropic stake and has already rallied, while other Korean telecoms have not yet detailed funding and operation plans but may catch up once they announce them.
017670.KS LONG
KWEB LONG
Oil stays elevated above $80.
Jeon In-gu expects high oil prices to persist around or above $80 for a while because the Iran-US and Hormuz Strait situation is difficult to resolve before the November US midterms, and Iran may benefit from keeping pressure on Trump. He cautions that oil forecasting is unreliable, but the current geopolitical setup points to sustained high oil prices rather than a quick resolution.
WTI LONG
Renewables and batteries rally on policy, power.
High oil, power shortages from AI data centers, and likely Democratic gains in US midterms support renewables. If Democrats gain power, IRA subsidies for ESS, secondary batteries, EVs, solar, and wind may revive, benefiting Korean battery and renewable companies. High oil makes gas and coal generation more costly while solar and wind have no fuel cost, so their margins improve and more renewable plants are likely to be built amid AI-driven electricity shortages.
Korean renewable energy LONG
Korean secondary battery/ESS LONG
HIGH
05:00
Aug 15
Aug 15
Korean shipbuilding sector
Japan shipbuilding sector
Korean shipbuilding equipment/parts suppliers
Korean shipbuilding hull-block construction/export
▾
HIGH
Korea is US Navy's chosen shipbuilder.
The US Navy's outreach to Korean shipbuilders is a strategic choice of Korea over Japan because Japan's shipbuilding industry is shrinking and no longer a sustainable partner: post-pandemic output is flat to down, order share is falling, and customers are disappearing. The US needs a partner with a large existing shipbuilding base and the ability to sustain service over a long cycle, and Korea is that partner; the RFI to Korean yards is an early concrete signal that US naval work can begin to be placed in Korea, even if actual contracts may take one to two years.
Korean shipbuilding sector LONG
Japan shipbuilding sector AVOID
Warship parts localization keeps increasing.
Korean combat ship localization is already high—about 65% on average and close to 80% in some series—and was built from zero by replacing imported components one by one. Because the commercial shipbuilding base kept the Changwon/Busan supply chain alive and localization is unlikely to go backward, the available workload for Korean warship component and equipment suppliers should expand further.
Korean shipbuilding equipment/parts suppliers LONG
Block method cuts US warship build delays.
Ships are assembled like Lego; a large containership uses roughly 250 blocks that are joined in a dock in a little over a month. Korean yards can apply the same block method to warship hulls—building blocks in Korea and assembling them in the US. This is the fastest way to fix the US Navy's problem of warship builds stretching from about five years to nine years, and the fact that the US sent an RFI to Korean yards makes this block-build route likely; otherwise there was no reason to send the RFI.
Korean shipbuilding hull-block construction/export LONG
HIGH
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