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06:00
Aug 22
Aug 22
3PRO TV (삼프로TV)
19h
South Korea renewable energy
ESS 1ST
KS
Korean offshore wind infrastructure
▾
HIGH
Renewable energy shifts from surplus to scarcity
Jeonnam's electricity self-sufficiency exceeds 200%, and solar output sometimes surpasses nuclear output at peak. Renewable power has no fuel-cost risk and demand is rising because AI data centers, global carbon rules, and surging PPAs are forcing companies to buy carbon-free electricity, shifting renewables from surplus to scarcity.
South Korea renewable energy LONG
ESS enables solar renewable grid stability
Solar generation is shifting the power peak toward late afternoon, and large-scale ESS such as the 306 MWh system at Solaseado stores midday solar and discharges into the grid from 4pm. Battery storage is essential to stabilize renewable power and enable its expansion.
ESS LONG
Samsung SDS leads national AI computing center
Samsung SDS is leading the consortium for the 2.4 trillion won national AI computing center in Haenam and is also building its own 200MW data center. It is directly exposed to the shift of AI data centers into renewable-rich, non-metropolitan sites with available land and power.
KS LONG
Offshore wind infrastructure bottleneck drives investment
Offshore wind is more efficient than onshore wind, but Korea lacks the ports and installation vessels needed to build projects. To reach the government target of 3-4 GW per year, the country needs seven to eight more dedicated ports, and a domestic group is investing in installation vessels, making offshore wind infrastructure the key bottleneck and investment opportunity.
Korean offshore wind infrastructure LONG
HIGH
02:00
Aug 22
Aug 22
3PRO TV (삼프로TV)
23h
WEAT 1ST
CORN 1ST
UGA 1ST
Korea Defense sector
▾
HIGH
Odesa blockade cuts Ukraine grain exports
Russia has effectively paralyzed Ukraine's Odesa port, which handled about 90% of Ukraine's grain exports; Ukraine's grain production is reported down 75% year-over-year, and before the war Russia and Ukraine supplied roughly 20% and 10% of world wheat and corn exports. The loss of this supply source should support global wheat and corn prices.
WEAT LONG
CORN LONG
Ukraine strikes disrupt Russian refined fuel
Ukrainian drone strikes on Russian oil refineries have disrupted Russian fuel supply enough that Russia, a major oil exporter, is importing gasoline. This is a supply-side disruption in refined products that supports gasoline prices.
UGA LONG
Korean defense sector has unique edge
South Korea's defense sector has a differentiated edge because it combined Russian, U.S., and European weapons technology into competitive systems such as Cheongung-2. Ukraine is actively demanding these systems while closer Russia-North Korea military cooperation upgrades North Korean capabilities and keeps defense demand relevant, making Korean defense a key sector to watch.
Korea Defense sector WATCH
HIGH
13:30
Aug 21
Aug 21
005930.KS
000660.KS
XRT 1ST
035720.KS 1ST
207940.KS
▾
HIGH
Hold major semiconductor stocks for strong earnings.
Despite short-term volatility and mixed reactions to recent shareholder return policies, Samsung Electronics and SK Hynix remain strong long-term investments due to their solid earnings fundamentals. The speaker expects significant upside potential and advises holding them through market dips.
005930.KS LONG
000660.KS LONG
Avoid department stores due to poor earnings.
Department store stocks should be avoided because their recent earnings were poor despite an increase in foreign tourists. Furthermore, a falling USD/KRW exchange rate will decrease the purchasing power of foreigners in Korea, creating additional headwinds for sales.
XRT AVOID
Kakao is unsuitable for long-term investment.
Kakao is unsuitable for long-term investment because ongoing structural issues, such as spin-offs, undermine shareholder value and make it difficult to trust the company's long-term prospects after a massive price drop.
035720.KS AVOID
Accumulate biotech and cosmetics for long-term growth.
For a 3-5 year investment horizon, accumulating shares in non-semiconductor sectors like biotech and cosmetics through a monthly savings plan is a highly viable strategy. Companies in these sectors have proven their ability to generate strong returns over time in the Korean market.
207940.KS LONG
068270.KS LONG
278470.KS LONG
192820.KS LONG
161890.KS LONG
Foreign inflows will remain limited despite favorable FX.
Foreign investors are unlikely to aggressively buy Korean equities just because the exchange rate has fallen. Unresolved Middle East geopolitical risks could strengthen the dollar again, risking FX losses for foreigners, and hedge funds are closing their books in November, which limits active new buying.
EWY WATCH
HIGH
12:30
Aug 21
Aug 21
005930.KS
Korean Leveraged ETFs
000660.KS
Korean semiconductor equipment and materials
035720.KS 1ST
▾
HIGH
Samsung's return package supports medium-term upside
Samsung Electronics' 110 trillion won shareholder return package disappointed because the method lacked immediate buyback-and-cancellation, largely due to the financial holding company 10% rule, but the absolute size is not small and the dividend yield will support the stock if it falls. He expects the stock to eventually return toward today's high and views any Monday decline as likely to be a lower-tail event with medium-term appeal.
005930.KS LONG
Avoid leveraged ETFs while volatility high
Korean leveraged ETFs should be avoided or used cautiously because market volatility remains elevated with VKOSPI still around 50-58 versus a normal 30, and leveraged ETF AUM has rebounded to about 6.5 trillion won, above the lower levels needed for normal market conditions. He argues risk/reward for short-term leveraged trading is poor and cash trading is preferable while volatility stays high.
Korean Leveraged ETFs AVOID
SK hynix buyback drives near-term outperformance
SK hynix is the near-term winner in Korean memory because it is already buying shares daily under its 40 trillion won buyback/cancellation program, creating immediate and visible demand. Hwang sees dips as likely to be bought by the company and says the stock has not completed a technical rebound, though resistance may emerge around 200,000-210,000 won.
000660.KS LONG
Semiconductor equipment preferred as second-tier play
Among second-tier semiconductor names below Samsung and SK hynix, semiconductor equipment and materials is the top priority because order backlogs have increased and next-year revenue growth is set to accelerate even as memory makers' profit growth slows. He says the sector is tradeable now and favors staggered buying on volatility.
Korean semiconductor equipment and materials LONG
Kakao lacks AI vision and catalysts
Kakao is unattractive because it has shown little in AI model development or data center infrastructure compared with Naver, and management lacks a convincing AI-era vision. The 350 billion won buyback looks small relative to the new shareholder-return era, and he sees the stock as not a buying or averaging-down zone, with holders only able to wait for a real strategic change.
035720.KS AVOID
KOSDAQ can rebound if rates stabilize
KOSDAQ's broad decline is driven by rising rates and foreign selling, but the setup can improve if rates stabilize and September policy catalysts such as the select index and clinical phase 3 funding arrive. He views the current period as difficult but worth monitoring for a broad rebound once the rate pressure eases.
KOSDAQ Index WATCH
KOSPI may digest sideways then rally
KOSPI is near a technical resistance zone around 7,000-7,300, and Hwang prefers sideways digestion into the Chuseok holiday rather than an immediate breakout. A violent breakout would likely trigger profit-taking, while sideways consolidation would create a cleaner medium-term index setup.
EWY WATCH
Cosmetics improving but not leading yet
Cosmetics is the only non-semiconductor sector he says can be described as favorable, supported by exports and improving earnings at names like APR, Amorepacific, Cosmax, and Kolmar. However, the sector is not acting as a unified leader and the TIGER Cosmetics ETF was flat, so the setup is more of a selective watch than a sector-wide buy.
TIGER Cosmetics ETF WATCH
Data center plays benefit from AI bottlenecks
AI data center-related Korean stocks are seen as the next individual stock area because they sit at the bottleneck of AI infrastructure buildout. He flags data center capacity and associated bottlenecks as the differentiated reason to focus on these names even though broader leadership remains uncertain.
Korean data center-related stocks LONG
NVIDIA earnings is key sentiment event
NVIDIA earnings next week are important because they are needed to confirm whether hyperscalers are actually making money from AI. Hwang treats this as a key sentiment and sector-tone event for semiconductor and memory trades.
NVDA WATCH
HIGH
11:30
Aug 21
Aug 21
SPY 1ST
USD/JPY
USD/KRW
005930.KS 1ST
US10Y 1ST
▾
HIGH
Korean retail money shifting to US equities.
Korean retail investors are fatigued by high volatility in Korean stocks and will increasingly shift money into US equities. Domestic investors' overseas asset ownership is still far below wealthy Asian peers such as Japan and Hong Kong, so structural retail outflows into US markets have a long way to run, especially in the next six to twelve months.
SPY LONG
USD/JPY upward fundamentals face intervention cap.
Japan's fiscal expansion combined with monetary policy that is not fully aligned creates a fundamental bias for USD/JPY to move higher. However, BOJ intervention and Washington's apparent preference for stronger Asian currencies while allowing the euro to weaken are capping dollar/yen, so the cross is a two-way policy-driven setup to monitor.
USD/JPY WATCH
Monitor USD/KRW policy and corporate flows.
The rapid USD/KRW drop from around 1,560 to 1,380 was mainly caused by government and central bank pressure on Samsung Electronics, SK hynix and other exporters to sell dollar holdings, plus customs and tax audit threats. Going forward, the downside for USD/KRW is likely to stay in place because the government still wants a stronger won and exporters are biased to sell dollar receipts, but upside risks remain from promised US investment, future corporate dollar demand, retail overseas equity buying and wealth-tax-driven capital outflows, making the bottom hard to call.
USD/KRW WATCH
Samsung shareholder return is positive long-term.
Samsung Electronics' shareholder return and buyback disclosure is a positive move toward global standards and may eventually reduce the volatility fatigue that has made investors wary. However, the announcement was widely expected and already known, so the near-term market impact is likely limited. The speaker views the direction as positive for the long term.
005930.KS LONG
US long yields likely stay elevated.
US long-term interest rates are likely to remain sticky because inflation persists, fiscal deficits and Treasury debt issuance are very large across the US, Korea and Japan, and AI-related companies, big tech, SpaceX and Anthropic-type borrowers create heavy credit demand. This keeps long-term yields elevated even though short-term rate policy is debated.
US10Y LONG
AI-driven stocks can overcome high rates.
The current equity rally is mostly AI-driven, and AI/IT growth expectations are strong enough to exceed 4-5% interest rates, so the old one-to-one relationship where high long-term rates automatically sink stocks has broken down. AI and IT development is the underlying foundation supporting equities even if long rates remain high.
AI-driven equities LONG
HIGH
10:58
Aug 21
Aug 21
Korean Food Sector
000660.KS
005930.KS
035720.KS
BTC
▾
HIGH
Stronger Won benefits food and refining importers.
With the USD/KRW exchange rate dropping from the 1,400 level down to the 1,300 level, companies that rely heavily on importing raw materials from overseas will benefit. Food companies and energy/refining companies are expected to see improved margins and better earnings in the third quarter due to this favorable exchange rate shift.
Korean Food Sector LONG
Korean refiners LONG
Samsung's shareholder return expectations drive stock prices.
Historically, share buybacks and cancellations haven't been massive long-term triggers for stock prices unless accompanied by other growth narratives. Unlike Apple or financial holding companies that have stable earnings, semiconductors are highly cyclical. Therefore, the upcoming shareholder return announcements from Samsung and SK hynix might end up being a 'sell the news' event rather than providing massive upside.
000660.KS LONG
005930.KS LONG
Kakao's AI spin-off lacks market competitiveness.
Kakao's decision to spin off Kakao AI while leaving Kakao X as the surviving holding company is viewed negatively by the market as another split listing. Kakao X lacks standalone business value, and Kakao AI's competitiveness in integrating AI with KakaoTalk is highly questionable compared to direct AI services like ChatGPT.
035720.KS AVOID
US stablecoin regulations will boost Bitcoin liquidity.
Bitcoin is surging because the US is considering incorporating it as a strategic reserve asset. Furthermore, the push to pass the Clarity Act aims to regulate and boost stablecoins, which would create a massive new buyer for US short-term Treasuries, helping the US manage its debt and lowering yields. This liquidity expectation is highly bullish for crypto.
BTC LONG
KOSPI faces 2,700 resistance without yield drops.
The KOSPI is currently in a technical rebound following the severe July drop, with a 50% Fibonacci retracement pointing to the 2,700 level. To break higher towards 2,800, US Treasury yields must decline. If yields remain elevated, the market will stay trapped in a box range, making it crucial to monitor the US Clarity Act in September, which could lower yields.
^KS11 WATCH
Semiconductor equipment offers higher earnings growth rates.
As the earnings growth rates for the semiconductor big two (Samsung and SK hynix) begin to slow down next year, semiconductor equipment companies will start showing higher relative sales and earnings growth rates. They are the top alternative pick within the semiconductor sector right now.
Korean semiconductor equipment LONG
High diesel crack margins threaten inflation shock.
Diesel crack margins have surged past 2022 war levels to $96, making diesel prices very high. This will likely pass through to refined products and petrochemicals, potentially causing an inflation shock in the upcoming August and September CPI and PPI readings.
DIESEL WATCH
NAVER's data center plans support its valuation.
NAVER is relatively insulated from the negative sentiment surrounding Kakao's spin-offs. NAVER has clear plans to build data centers and cloud infrastructure over the next 3-5 years, providing a solid floor for its valuation regardless of short-term market fluctuations.
035420.KS LONG
Buy US Dollars at current 1,300 levels.
The recent sharp drop in the USD/KRW exchange rate was artificially driven by government pressure on exporters to sell dollars and tax audits on companies holding dollars overseas. However, structural upward pressures on the dollar remain strong: Korean companies still need dollars for delayed US investments, retail investors continue to buy US stocks, and potential wealth taxes could drive capital flight.
USD LONG
Weaker foreign purchasing power hurts department stores.
Department stores looked promising recently due to an influx of foreign tourists, but their actual earnings were poor. With the USD/KRW exchange rate dropping from 1,400 to 1,300, the purchasing power of foreign tourists will decrease further, making the outlook for department store stocks even worse.
Korean department stores AVOID
HIGH
08:52
Aug 21
Aug 21
EWY
KOSDAQ Index
Korean refiners
Korean exporters
005930.KS
▾
HIGH
KOSPI technical rebound target around 2,700.
Min views the KOSPI rebound as a technical recovery and, using Fibonacci retracement, sees a rebound to around 2,700 as likely absent macro shocks. Further upside toward 2,750-2,800 would require long-term interest rates to fall or the Clarity Act to pass around 15 September. If long-term yields stay high and the index keeps rebounding, he suggests building a cash buffer.
EWY LONG
KOSDAQ stays difficult while rates remain high.
Min says KOSDAQ rotation will struggle as long as long-term rates stay at current high levels. In a safety-seeking environment, funds are concentrated in large-cap Samsung Electronics and SK Hynix, while smaller companies are more exposed to interest costs and debt burdens. KOSDAQ is therefore likely to remain difficult unless rates fall.
KOSDAQ Index AVOID
Won strength favors importers in Q3.
Because the average won was around 1,500 in Q2 but has since fallen to the 1,300s, Min expects Q3 earnings to slow for exporters that benefited from the weak won, while importers of overseas raw materials, especially food, refining and energy companies, should see relative improvement from lower imported input costs.
Korean refiners LONG
Korean exporters AVOID
Korean food companies LONG
Korean energy companies LONG
Samsung shareholder return matches consensus, supports downside.
Samsung Electronics announced a 2024-2026 shareholder return policy using 50% of free cash flow, with remaining 2026 return expected at 90-110 trillion won and a 30 trillion won cash dividend planned for Q3 2026. Min says the size matches sell-side consensus around 110 trillion won, but because rumors had run to 150 trillion won and no special dividend was explicitly announced, the initial reaction is muted. He expects the real price move to emerge next week after the news-driven supply is digested, and the program can support downside.
005930.KS WATCH
SK Hynix buyback size limits downside.
SK Hynix's daily buyback of about 650,000 shares is substantial relative to average daily volume, roughly 8% of 8 million shares or 13% of 5 million shares. At that pace, the 24 million share buyback could finish in about 37 trading days, or about two months. Min expects this to put a floor under SK Hynix shares and limit downside, though fresh upside would require Nvidia earnings and Jackson Hole to provide momentum.
000660.KS LONG
Gradually buy dollars in 1,300 won range.
Min sees recent won strength as mostly flow-driven, from SK Hynix ADR conversion inflows and exporter dollar conversion, rather than reflecting improving Korean fundamentals. Given Korea's fiscal expansion, aging demographics and overseas factory investment, he does not expect a long-term rising won trend. He suggests gradually accumulating dollars when USD/KRW is in the 1,300s rather than converting all at once.
USD/KRW LONG
Nvidia earnings are next semiconductor upside catalyst.
Min says the downside for Korean semiconductor leaders is being defended by buybacks, and the next upside trigger is next week's Nvidia earnings plus Jackson Hole. If Nvidia shows AI-related growth remains strong and the Fed's message matches market expectations, semiconductor shares can make an upward move within their range.
NVDA WATCH
HIGH
08:10
Aug 21
Aug 21
005930.KS
000660.KS
035720.KS 1ST
BTC
035420.KS
▾
HIGH
Shareholder return size dictates further upside potential.
The recent rally in Samsung Electronics and SK hynix is heavily driven by expectations of massive shareholder returns through buybacks and cancellations. For SK hynix, a return of around 150 trillion won is justifiable based on expected free cash flow. Samsung Electronics needs to announce a proportionally larger figure to justify further upside. If the announced figures fall short of these high expectations, it could trigger a 'sell on the news' reaction, as the current rally is event-driven rather than based on fundamental upgrades.
005930.KS WATCH
000660.KS WATCH
AI spin-off lacks synergy and hurts valuation.
Kakao's decision to spin off its KakaoTalk and AI business into a new entity is being poorly received by the market, viewed as yet another split-listing. The strategic rationale of integrating AI into a messenger app is weak, as users generally prefer dedicated AI interfaces over messenger-based AI. The spin-off leaves the holding company with less value, making the stock unattractive.
035720.KS AVOID
US Treasury debt strategy boosts crypto demand.
Bitcoin is surging due to a combination of factors including expectations of it becoming a US strategic reserve asset and the Clarity Act. Furthermore, the US Treasury's need to issue short-term debt is leading them to stimulate stablecoin adoption to create demand for these bonds, which indirectly boosts the broader crypto market.
BTC LONG
Downside is supported by cloud and data.
Unlike Kakao, NAVER is insulated from spin-off controversies and negative market sentiment regarding corporate restructuring. Its downside is well-supported by the fundamental value of its data centers and long-term cloud business plans, making it a safer hold.
035420.KS LONG
Avoid biotechs rallying purely on Moderna sympathy.
Korean biotech stocks that rallied purely in sympathy with Moderna's recent surge, without any fundamental business connection or hard data of their own, are vulnerable to sharp corrections. Moderna's own stock experienced a 20% pullback after its massive run, and Korean peers lacking solid catalysts will likely face similar profit-taking.
Korean Biotech AVOID
Stake sale secures funding for battery expansion.
Samsung SDI's decision to sell its stake in Samsung Display to secure 4.4 trillion won is a positive move. It provides the necessary capital expenditure for its joint venture with GM and its transition towards ESS and solid-state batteries, removing funding uncertainties without the need for external borrowing.
006400.KS LONG
Surging diesel margins threaten to reignite inflation.
Diesel crack margins have quietly surged to $96 per barrel, surpassing levels seen during the 2022 war. While crude oil prices remain stable, the skyrocketing cost of refined diesel will likely pass through to broader consumer prices, posing a hidden risk of reigniting inflation fears for the upcoming CPI and PPI prints.
Diesel Crack Margin WATCH
HIGH
03:28
Aug 21
Aug 21
TLT 1ST
BTC
GLD 1ST
Crypto Market
▾
HIGH
Buy 30-year Treasuries on yield spikes.
The U.S. Treasury's unscheduled buyback in the 10-30 year sector, with the minimum size raised and the ceiling effectively opened, is a policy signal known as the 'Bessent put.' Yoon expects the long end to be capped and says bond traders will buy 30-year Treasuries when yields spike toward 5.3% and take profits when yields fall.
TLT LONG
Long gold and Bitcoin as debasement trade.
The surge in long-term Treasury yields is not a risk-on liquidity story but a debasement trade: fiscal anxiety, inflation risk, and big tech ultra-long supply are eroding confidence in government bonds, while rising long rates hurt housing, corporate credit, and government interest costs. Gold and Bitcoin are rising as a result, and crypto gets an additional edge from SEC/CFTC regulatory tailwinds and CLARITY Act pressure, so Bitcoin is favored over gold.
BTC LONG
GLD LONG
Crypto market grows on Treasury onchain demand.
The U.S. Treasury has few tools to absorb heavy Treasury supply, so it will be forced to use the crypto market: growing stablecoin and on-chain Treasury demand to create global buyers of U.S. government debt. This is a structural policy tailwind for the crypto market and related on-chain Treasury infrastructure.
Crypto Market LONG
HIGH
03:20
Aug 21
Aug 21
WMT
005930.KS 1ST
XLK
SMH
MRVL
▾
HIGH
Walmart's slowing growth makes valuation unattractive.
Walmart's sales growth has slowed to a 6-year low, and with a forward P/E of 37x, the valuation is not attractive enough to justify buying at current levels.
WMT WATCH
Samsung Electronics is deeply undervalued at 6.5x P/E.
The expected 150 trillion won shareholder return for Samsung Electronics is already priced in, and historically, large buybacks haven't led to dramatic reratings, so investors should avoid chasing the rally.
005930.KS LONG
Communication Services and IT lead massive earnings growth.
The US Communication Services and IT sectors are leading the massive Q2 earnings beat, with EPS growth jumping to 117% and 70.4% respectively.
XLK LONG
XLC LONG
Semiconductors generate strong cash in high-rate environments.
We are only in the early stages of the AI revolution, and strong hyperscaler capex, rising semiconductor sales, and rising prices prove there is no AI bubble.
SMH LONG
Marvell is expanding its Google AI ecosystem business.
Marvell Technology is expanding its business beyond just TPU orders to include XPU attach and broader ecosystem integration for Google, justifying higher price targets.
MRVL LONG
Broadcom is undervalued due to market misunderstandings.
The market is mistakenly undervaluing Broadcom by assuming Marvell took all the TPU business, presenting a buying opportunity for Broadcom.
AVGO LONG
Bitfarms shows strong momentum from Ethereum purchases.
Bitfarms is showing stronger momentum than MicroStrategy because it has been actively buying Ethereum while MicroStrategy sold some of its holdings.
BITF LONG
Deere benefits from data center construction demand.
Deere is finding a new growth driver by selling heavy equipment for data center construction, benefiting from the AI infrastructure boom.
DE LONG
Explosive earnings growth makes US equities cheap.
The real policy rate has turned negative, and Q2 EPS growth for the S&P 500 is a massive 50.4%, making US equities cheap relative to their explosive earnings growth.
SPY LONG
QQQ LONG
Moderna's success boosts domestic MRNA vaccine players.
Moderna's success with personalized cancer vaccines is boosting sentiment for domestic MRNA players, making Samyang Holdings an attractive long-term theme to watch.
000070.KS LONG
Strong capex and sales disprove AI bubble fears.
We are only in the early stages of the AI revolution, and strong hyperscaler capex, rising semiconductor sales, and rising prices prove there is no AI bubble.
AIQ LONG
Massive electricity demand boosts Korean power sectors.
The Korean government's 12th Basic Plan for Electricity Supply and Demand raised the 2040 demand forecast by 41.7%, requiring massive capacity additions across nuclear, renewable, and gas power sources.
Korean Power Equipment LONG
URA LONG
SOLAR LONG
Cheap valuations and improving earnings offer defense.
Sectors like food, shipbuilding, defense, and construction offer cheap valuations and improving earnings, making them attractive defensive plays in a box-range market.
Korean food LONG
Shipbuilding LONG
ITA LONG
ITB LONG
Financials and insurance offer strong defensive earnings.
Korean financials and insurance companies boast strong earnings and defensive characteristics, appealing to investors amid market volatility.
105560.KS LONG
000810.KS LONG
086790.KS LONG
Korean data centers offer massive investment returns.
Data centers offer high profitability and strong demand in Korea, with private equity expecting massive returns on investments over the next few years.
DTCR LONG
New noodle product offers global growth potential.
Samyang Foods' new black bean noodle 'Jjareureu' has strong potential to succeed in European and American markets, providing a new growth engine.
003230.KS LONG
Fiat debasement boosts Gold and Bitcoin appeal.
Gold and Bitcoin will benefit from the debasement of fiat currency as the US government struggles with high debt and relies on mild yield control.
GLD LONG
Fiat debasement boosts Gold and Bitcoin appeal.
The US government's need to absorb massive debt will force it to utilize the crypto market and stablecoins, creating a highly favorable macro environment for Bitcoin.
BTC LONG
High rates boost stablecoin issuers' reserve yields.
Stablecoin issuers like Circle and exchanges like Coinbase benefit from high interest rates by earning the spread on US Treasuries held as reserves.
Stablecoin issuers LONG
COIN LONG
NAVER benefits from Dunamu merger and AI.
NAVER is an attractive domestic alternative due to its upcoming merger with Dunamu and its involvement in AI data centers.
035420.KS LONG
Daily buybacks provide strong downside support.
SK Securities' daily buyback of 650,000 shares provides strong downside support for SK hynix, keeping the path open to 200,000 KRW.
000660.KS LONG
High rates offer great long-term cash flows.
High interest rates offer a great opportunity to lock in stable, long-term cash flows through US Treasuries, Brazil Bonds, and Korean Government Bonds rather than chasing capital gains.
Korean government bonds LONG
BZQ LONG
Dividend ETFs provide steady cash in volatility.
Dividend ETFs and Covered Call ETFs are excellent alternatives for generating steady cash flow in a high-rate, high-volatility environment.
Covered Call ETFs LONG
Dividend ETFs LONG
Massive issuance will keep long-term yields high.
High interest rates offer a great opportunity to lock in stable, long-term cash flows through US Treasuries, Brazil Bonds, and Korean Government Bonds rather than chasing capital gains.
TLT SHORT
HIGH
02:52
Aug 21
Aug 21
RWA tokens
BTC FLIP
WTI 1ST
MSTR
XRP 1ST
▾
HIGH
Suppressed altcoins are rebounding due to bottom-fishing.
Major altcoins, including Ethereum, Ripple, and RWA (Real World Asset) tokens, have been heavily suppressed in price. Their current strong rebound is primarily driven by bottom-fishing and attractive low valuations, offering significant upside potential.
RWA tokens LONG
XRP LONG
ETF inflows and regulatory hopes boost Bitcoin.
Bitcoin is experiencing its largest spot ETF net inflows in 7 months, and spot buying demand has turned positive for the first time since late 2023. The rally is supported by expectations of the FIT21 crypto bill passing in September, discussions on expanding the US strategic Bitcoin reserve, and Bitcoin's emerging narrative as a macro hedge against US debt issues via stablecoins.
BTC LONG
US sanctions on Iran will boost oil.
Anticipated US economic sanctions on Iran will likely block Iranian crude oil exports to China. Since global demand remains constant, this reduction in supply to China is highly likely to drive up global oil prices.
WTI LONG
Breakeven holdings trigger more MicroStrategy Bitcoin buying.
MicroStrategy's Bitcoin holdings have reached their breakeven point. Historically, reaching this threshold prompts Michael Saylor to aggressively purchase more Bitcoin to maintain upward momentum, making both Bitcoin and MicroStrategy attractive momentum plays.
MSTR LONG
Regulatory easing and network upgrades drive Ethereum.
Ethereum is outperforming Bitcoin, driven by its own 7-month high in ETF inflows. It is uniquely positioned to benefit from the SEC's proposed regulatory easing for tokenized securities, as it is the dominant network for such assets, and will also gain from the upcoming Pectra upgrade which improves scalability.
ETH LONG
HIGH
02:30
Aug 21
Aug 21
Dividend ETFs
Covered Call ETFs
XLF 1ST
TLT 1ST
BRAZIL_GOVT_BONDS
▾
HIGH
Shift portfolio to cash-flow generating assets.
In a highly volatile market driven by inflation and fiscal concerns, investors should shift their portfolios away from capital gains and focus on securing stable cash flows through high-yield assets like bonds, dividend-paying ETFs, covered call ETFs, and financial stocks.
Dividend ETFs LONG
Covered Call ETFs LONG
XLF LONG
Avoid long-term Treasuries for capital gains now.
Avoid investing in long-term US Treasuries like TLT for capital gains in the current environment, as stock and bond prices are falling together due to fiscal and inflation issues; only buy them for capital gains if the narrative shifts to an economic slowdown indicated by tightening bank lending standards.
TLT AVOID
Buy Brazilian bonds for high cash flow.
Brazilian government bonds, both USD-denominated offering 5-7% coupons and BRL-denominated offering around 10% coupons, are highly attractive vehicles for locking in strong, long-term cash flows in the current high-yield environment.
BRAZIL_GOVT_BONDS LONG
Watch key macro indicators for bond direction.
Monitor the spread between US 30-year and 10-year Treasury yields, oil prices, US initial jobless claims, and the USD/JPY exchange rate to gauge the future direction of US Treasury yields; a narrowing spread, oil falling below $80, or Yen avoiding extreme weakness would signal easing pressure on yields.
WTI WATCH
USD/JPY WATCH
HIGH
02:14
Aug 21
Aug 21
477850.KQ
000660.KS
COIN 1ST
035420.KS
EWY
▾
HIGH
Watch MakinaRocks as K-Palantir AI.
MakinaRocks is a Korea-listed closed/physical AI platform often called K-Palantir, with roots as an SKT venture and Applied Materials as its first major customer. It installs an OS-like AI stack for closed factory and defense networks where data cannot go to cloud AI. Strategic investors include GS, SK, Hanwha Systems, Samsung, POSCO, and LG, and it has drawn interest from Japan's Mitsubishi Heavy Industries and Korea's defense research institutions. With 7 years and 2.5TB of accumulated data, it has a moat competitors cannot easily replicate; orders are running ahead of revenue and the company guides 9x revenue by 2030, with a potential profit turn in Q4 or next year. The stock pulled back after a first-day surge and recently absorbed the 3-month lockup, so the speaker sees this pullback as a chance to study/build a position, though she wants confirmation of the promised profit turn.
477850.KQ WATCH
SK Hynix buyback creates downside floor.
SK Hynix is the hottest branch topic because it is executing large daily buybacks of 650,000 shares. Since buyback orders cannot chase higher asks and are placed only below market before 3 p.m., they can create a floor. Clients view the drop as a correction, not a broken story, and many want to add; the speaker sees at least 2,000,000 won as open based on momentum and shareholder return supporting the downside.
000660.KS LONG
High rates boost stablecoin-related companies.
High Treasury yields are a sign that bond buyers are scarce while the U.S. keeps issuing debt, so the market is focusing on stablecoins. Stablecoin issuers are forced to hold reserves in safe, liquid assets, which effectively means U.S. Treasuries, letting them capture the rate spread. This supports stablecoin ecosystem names; Circle and Coinbase have rebounded from their lows and are worth watching as related companies.
COIN LONG
Study Naver as domestic stablecoin/data center.
Naver is a domestic way to play the K-Circle/stablecoin theme and hot AI data center story, with an anticipated merger with Dunamu that has been delayed twice but is still coming. The speaker says it is worth studying as a domestic leader in these areas.
035420.KS WATCH
KOSPI rangebound; maintain positions.
KOSPI downside is being cushioned by foreign buying and share buybacks from SK Hynix and Samsung Electronics, but rising rates are capping upside. Therefore the speaker advises clients to stay with current positions rather than aggressively add into a still rate-sensitive tape.
EWY WATCH
HIGH
01:54
Aug 21
Aug 21
TLT
GLD 1ST
USD 1ST
Korean equities
BTC 1ST
▾
HIGH
Treasury will escalate to cap long yields.
The Treasury's buyback program is not a sudden new QE but part of a multi-year effort—alongside FIMA repo and capped coupon issuance—to stabilize long-end Treasury yields, especially 30-year yields, by absorbing illiquid long-dated bonds and limiting forced selling. Current measures are deliberately small, but if 30-year yields keep climbing above levels like 5.3%, the Treasury has room to escalate with stronger buybacks, bank regulatory easing, QE, or even YCC-style tools, so long-end yields are likely to be actively managed and capped over time, though strong growth can still push yields up in the near term.
TLT WATCH
Liquidity shift lifts gold, bitcoin; weakens dollar.
The side effect of using policy to hold down Treasury yields is ultimately inflation and dollar depreciation; the recent crypto surge is already reflecting this, and buyback announcements mechanically trigger gold up, dollar down, bitcoin up, stocks up, and yields down. Gold and bitcoin specifically benefit from liquidity expansion and reduced attractiveness of US Treasuries, while the dollar is pressured in that same liquidity-expansion regime.
GLD LONG
USD SHORT
BTC LONG
Growth supports stocks despite rising yields.
Because the US and Korean economies are growing and corporate earnings are strong, the rise in interest rates should be read as a growth signal rather than an automatic threat to equities. Stocks can continue to rise on earnings as long as the Fed only raises rates modestly to anchor inflation without breaking risk assets; only a much more aggressive Fed hiking path would be likely to break equities.
Korean equities LONG
SPY LONG
Growth supports semiconductor and big tech earnings.
Semiconductor and big-tech earnings are not widely expected to deteriorate because growth is still backing them; this is a concrete signal that the growth cycle remains intact and that semiconductor and big-tech earnings should stay supported unless growth expectations worsen.
SMH LONG
US Big Tech LONG
HIGH
01:44
Aug 21
Aug 21
Food 1ST
Shipbuilding
ITA 1ST
ITB
096770.KS
▾
HIGH
Undervalued sectors with strong earnings offer opportunities.
Sectors such as food, shipbuilding, defense, and construction have clearly improving earnings, yet their stock prices remain very cheap, making them highly attractive targets in a market experiencing rapid sector rotation.
Food LONG
Shipbuilding LONG
ITA LONG
ITB LONG
High oil prices and margins support refiners.
Oil refiners are seeing positive refining margins and international oil prices remain at high levels, supporting their recent upward price momentum.
096770.KS LONG
010950.KS LONG
Financials offer defensive strength and solid earnings.
Financials and insurance stocks are expected to post strong earnings and can act as reliable defensive plays while the broader market remains shaky and lacks investor confidence.
105560.KS LONG
086790.KS LONG
FINANC LONG
Massive shareholder returns will eventually boost prices.
The massive shareholder return policies and buybacks announced by major semiconductor companies are clear positive catalysts that the market is currently ignoring due to weak sentiment, but they will eventually be priced in over time.
005930.KS LONG
000660.KS LONG
Data center profitability negates short-term memory concerns.
Data centers remain highly profitable in both Korea and the US, indicating that recent market concerns over memory semiconductor demand are only short-term and the broader AI infrastructure trend remains intact.
DTCR LONG
SMH LONG
Accumulate Ethereum steadily through dollar-cost averaging.
Ethereum is one of the only two viable cryptocurrency assets for retail investors, and it is worth accumulating steadily through a dollar-cost averaging strategy.
ETH LONG
Regulatory limits make preferred shares attractive plays.
Samsung Electronics will likely opt for special dividends rather than massive share cancellations to avoid breaching financial-industrial separation rules regarding Samsung Life Insurance's ownership stake, making the preferred shares highly attractive for dividend investors.
005935.KS LONG
New ramen product has strong export potential.
Samyang Foods' new Jjajang ramen, 'Jjareureu,' has a unique flavor and an easy-to-pronounce name for foreigners, giving it strong export potential in Europe and South America alongside the popular Buldak brand.
003230.KS LONG
Favorable exchange rates and strong cargo boost.
Korean Air's Q2 earnings appear to have bottomed out, the exchange rate is favorable, and its cargo division is performing exceptionally well by transporting cosmetics and semiconductors.
003490.KS LONG
Cosmetics lead export sectors with positive momentum.
Cosmetics stocks are receiving the most attention in the export sector and are starting to show positive price action, making them a solid area to watch.
Cosmetics LONG
HIGH
00:16
Aug 21
Aug 21
KS FLIP
TLT 1ST
Diesel crack spread
Global refined products
WTI FLIP
▾
HIGH
Don't chase Samsung's buyback rally now.
Samsung Electronics announced a 150 trillion won shareholder return plan, but the market had expected up to 200 trillion won; excluding the existing dividend, the extra buyback/cancellation is about 120 trillion won, not a major surprise. The stock already rose about 10% yesterday ahead of the news, and past large buyback/cancellation programs in Korea did not produce dramatic re-ratings. Chasing Samsung solely on the shareholder return narrative could leave new buyers stuck.
KS AVOID
Long-term Treasuries stay under pressure.
Long-end U.S. yields remain uncomfortable: the 10-year is near 4.7% and the 30-year above 5.2%, with 30-year real yields near 3% and at post-2007 highs. The Treasury buyback was quickly reversed by the market because it is not Fed QE; it is funded by issuing short-term debt and has limited effect. If the Fed freezes while inflation rises, long-term credibility worsens and yields could break higher, creating more market pressure.
TLT AVOID
Diesel crack spreads keep surging upward.
WTI at 88 dollars is not the whole story: diesel crack spreads have surged toward 90-100 dollars per barrel, implying real-world diesel prices near 170-180 dollars per barrel. Refinery destruction is creating product shortages and pushing diesel, gasoline, and naphtha-based petrochemical prices higher, delivering an inflation shock even though crude oil looks less extreme.
Diesel crack spread LONG
Global refined products LONG
WTI has upward price momentum.
U.S. policy has failed to contain oil: heavy futures backwardation had suppressed WTI, but a prolonged Iran conflict and economic-sanctions approach means oil is hard to control. The strategic petroleum reserve is near 1983 levels at about 290 million barrels, and a crackdown on Iranian oil smuggling could reduce global crude supply, adding upward momentum to WTI.
WTI LONG
Gold rises on fiat distrust.
Global long-term yields rose together because investors increasingly distrust fiat currencies amid large fiscal deficits and rising debt interest burdens in the U.S., Japan, and elsewhere. With limited policy room, money rotates into real assets instead of government paper, supporting gold even as Treasury buyback skepticism grows and the dollar weakens.
GLD LONG
Bitcoin and Ethereum rally on policy.
Trump pushed the Clarity Act to classify crypto as commodities under CFTC and said the U.S. would buy meaningful Bitcoin in the market. More importantly, Treasury needs stablecoin demand to absorb short-term Treasury issuance, so crypto policy supports the Treasury's broader funding framework. Bitcoin briefly broke 72,000 and Ethereum rose 15%, but if the Clarity Act fails in September the market could be disappointed again.
BTC WATCH
ETH WATCH
Watch Samyang Biopharm's mRNA opportunity.
Moderna's Phase 3 top-line data for an individualized mRNA cancer vaccine combined with Keytruda showed meaningful recurrence-reduction results, suggesting a much larger future market for mRNA-based personalized medicine. In Korea, Samyang Biopharm is the direct mRNA play and rose about 15% again; the speaker says not to chase today, but after the market stabilizes an mRNA vaccine/theme could form and deserves a longer-term approach. Elon Musk's reaction also signals AI/manufacturing innovation importance.
357780.KQ WATCH
Raise cash and wait for correction.
U.S. long-term rates remain a burden, Walmart is signaling that U.S. consumer spending is cracking, and the Korean market could not rally even on Samsung's buyback news. The near-term risk/reward is unattractive for aggressive buying, so the speaker advises stepping back, taking some cash if fully invested, and waiting for a potentially deeper correction to create better entry opportunities.
CASH LONG
U.S. equities face rate-driven pressure.
The U.S. market is not healthy enough to chase: long-term interest rates are suppressing risk appetite, the Federal Reserve is stuck because inflation is rising while growth weakens, and Walmart warned fuel costs are hurting consumer buying. Until long-term rates stabilize, the speaker prefers a defensive stance on U.S. equities.
SPY AVOID
HIGH
23:23
Aug 20
Aug 20
000660.KS
KEP 1ST
005930.KS
TLT
BNO
▾
HIGH
SK hynix buyback structure is bullish.
SK hynix's shareholder return is centered on buybacks and cancellations, which fits SK because the group needs to maintain at least a 20% stake, making a higher stake through buybacks more favorable for SK. Nomura positively evaluates the large buyback and cancellation program and set a target price of 470,000 won, supporting SK hynix on its differentiated shareholder return structure.
000660.KS LONG
Korean electricity demand boom lifts power sector.
Korea's revised 12th power supply plan shows 2040 electricity consumption forecast up 41.7% versus the 11th plan and 27.5% versus the April draft, with maximum required capacity up about 20GW, equivalent to 20 nuclear reactors. Because domestic demand from semiconductor clusters and AI data centers is surging, all generation sources including nuclear, gas, renewables, transmission, and power equipment must be expanded, which should boost revenue and orders for Korean power-related companies.
KEP LONG
Samsung shareholder return catalyst is imminent.
Samsung Electronics is expected to announce a shareholder return plan around 150 trillion won, possibly up to 200 trillion won, based on returning 50% of free cash flow; Barclays notes the five-year 50% return equals about 15% of market cap and does not impair investment capacity. The board is expected to decide by the end of August, so the announcement is imminent. Because Samsung Life and Samsung Fire stakes make aggressive buybacks and cancellations difficult under governance and insurance rules, Samsung is more likely to pay dividends, but the overall shareholder return catalyst is positive for the stock.
005930.KS LONG
Long-term Treasuries pressured as yields rise.
The US Treasury buyback is being viewed as ineffective because long-term yields have risen back above pre-announcement levels: the 30-year yield climbed above 5.25% and the 10-year yield above 4.708%. Fiscal deterioration concerns are pushing yields higher, and Treasury Secretary Bessent's comment that 24-hour moves are noise suggests the policy steps are tangled, leaving long-term Treasury bond prices under pressure.
TLT SHORT
US 10-year Treasury bonds SHORT
Oil rises on Iran supply risk.
Brent crude rose 2.3% to $93.7 as US pressure on Iran and China over Hormuz shipping and Iranian oil imports increases supply disruption risk. The US is threatening coordinated economic isolation, but China buys about 80% of Iranian oil and gets 50% of its Gulf energy, so the situation remains unresolved and supports higher oil prices.
BNO LONG
HIGH
22:42
Aug 20
Aug 20
SPY
QQQ
XLC 1ST
XLK 1ST
000660.KS
▾
HIGH
Falling inflation and strong earnings support equities.
US equities are expected to continue their upward trajectory in the second half of the year because inflation has fallen below the Fed's policy rate, which will ease interest rate fears and boost risk appetite. Additionally, Q2 earnings have been exceptionally strong, making market valuations attractive despite the recent rally.
SPY LONG
QQQ LONG
Massive earnings growth makes tech sectors attractive.
The Communication Services and IT sectors are leading the Q2 earnings surprises, with EPS growth estimates jumping massively. As the macro environment becomes more favorable for growth stocks in Q4 due to falling inflation and interest rates, these sectors are highly likely to continue their strong performance.
XLC LONG
XLK LONG
AI revolution and strong exports support semiconductors.
Concerns about an AI overinvestment bubble are premature, as the AI revolution is only three years into a cycle that could last over a decade. Global semiconductor sales and prices are rising, and South Korean semiconductor exports have grown for 17 consecutive months, making companies like SK hynix and Samsung Electronics attractive, especially with their increasing shareholder returns.
000660.KS LONG
005930.KS LONG
SMH LONG
HIGH
22:02
Aug 20
Aug 20
000660.KS FLIP
TLT
SPY
MRVL
NVDA
▾
HIGH
Sustained margins will close SK hynix's gap.
Although US investors remain skeptical of the memory cycle, SK hynix can close its valuation gap and re-rate like TSMC if it proves its operating margins are sustainable over the next few quarters alongside its strong shareholder returns.
000660.KS LONG
Market rejects Treasury intervention, yields remain high.
Despite the Treasury Secretary's buyback intervention plan, long-term yields quickly rebounded, indicating the market remains highly concerned about persistent inflation and government deficits, making long-term bonds risky.
TLT WATCH
Midterm volatility and Anthropic IPO drain liquidity.
The upcoming Anthropic IPO could act as a vacuum cleaner for market liquidity, and historical patterns show increased volatility 75 to 25 days before midterm elections, suggesting a difficult broad market environment through October.
SPY WATCH
Marvell expands custom chip business with Google.
Marvell's price target was raised to $310 by UBS as its custom chip relationship with Google is expanding beyond just TPUs into a broader ecosystem of connected chips.
MRVL LONG
Nvidia must maintain seventy-five percent gross margins.
For Nvidia's upcoming earnings, the critical factors for the market are maintaining a 75% gross margin and successfully expanding Blackwell sales without cannibalizing Hopper or relying on China.
NVDA WATCH
Market incorrectly assumes Marvell took Broadcom's business.
The market is undervaluing Broadcom by mistakenly assuming that Marvell has taken all of Google's TPU business, which JP Morgan clarifies is not the case.
AVGO LONG
Management cleared of illegal China export allegations.
Super Micro Computer's stock rebounded because investigations revealed that current management was completely unaware of a former employee's illegal exports to China, removing a major company-level risk.
SMCI LONG
Slowing US same-store sales drag down Walmart.
Walmart shares suffered their biggest drop in four years due to a significant slowdown in US same-store sales growth, despite an increase in AI-driven customer engagement.
WMT AVOID
Deere supplies heavy machinery for data centers.
Deere & Company is finding a strong new growth driver beyond agricultural machinery by supplying heavy equipment for the construction of AI data centers.
DE LONG
Peaking rates and Trump's support boost Bitcoin.
Bitcoin is rallying due to a combination of potentially peaking interest rates and Trump's renewed pro-crypto political messaging aimed at winning voters ahead of the midterm elections.
BTC LONG
Trump's strict Iran sanctions boost oil prices.
Trump's threat of unprecedented economic sanctions and total isolation against Iran is pushing crude oil prices to the top of their recent trading range.
WTI LONG
HIGH
13:30
Aug 20
Aug 20
000660.KS
XLK
005930.KS
XLV FLIP
XLY
▾
HIGH
SK Hynix buyback signals strong shareholder returns.
The after-close SK Hynix buyback was deliberately timed when foreigners could not use futures or program selling, forcing short covering and a sharp rebound. More importantly, SK Hynix is signaling a multi-year shareholder-return commitment, potentially deploying around 50% of free cash flow over 2026-2028, making the initial buyback only a small part of a much larger return program that creates a durable buyback bid and reduces manipulation-driven volatility.
000660.KS LONG
Big tech faces option-expiry volatility.
Around U.S. option expiration weeks, big-tech volatility repeatedly spikes and plausible-sounding news is used to force sharp moves; after expiration the news often disappears and prices return to normal. Investors should be cautious during this window and avoid reacting immediately to headline-driven drops.
XLK WATCH
Long-term funds are accumulating Samsung Electronics.
Trend-following and fundamental investing often have a sub-40% win rate, so investors must endure multiple losses before large gains; many then sell at breakeven after a recovery. If Samsung Electronics and SK Hynix have bottomed and begin a new long-term uptrend, fundamental investors should not sell at breakeven but hold for the larger move, as Hynix historically could be held from low prices to far higher levels.
005930.KS LONG
Favor pharma over biotech as yields fall.
Lee expects no Federal Reserve rate hike before the November midterm elections, and with Treasury yields easing into the September FOMC, he sees the rate-sensitive pharmaceutical sector as an area to watch and buy. Biotech, by contrast, should be used as an opportunity to exit rather than as a new long.
XLV LONG
XBI AVOID
Consumer discretionary and cosmetics look supported.
With Treasury yields likely staying lower into the September FOMC window, consumer discretionary and beauty deserve attention through September. Estee Lauder, a global cosmetics leader, reported earnings and jumped 16%, and Korea's cosmetics export performance has been notable, supporting a positive tactical view on the consumer/beauty complex.
XLY LONG
Korean cosmetics exporters LONG
EL LONG
HIGH
12:30
Aug 20
Aug 20
005930.KS
EWY
066970.KS
GLD 1ST
BTC 1ST
▾
HIGH
Samsung Electronics has better new-money momentum.
The near-term semiconductor event calendar including Samsung Electronics and SK Hynix/Micron/Nvidia next-generation chip and HBM disclosures, the contract review event, and Nvidia's August 26 earnings is likely to be supportive for semis. He sees no reason for the semiconductor complex to break down before these catalysts and would hold semiconductor positions through early-to-mid next week.
005930.KS LONG
000660.KS LONG
100 trillion buyback power supports Korean market.
The combined Samsung Electronics and SK Hynix buyback/cancellation of around 100 trillion won is a massive paradigm shift. It can absorb foreign selling, remove overhang, reduce free float, and improve overall Korean market supply/demand dynamics, giving KOSPI a stronger floor and better market tone over the next few months.
EWY LONG
Secondary battery trends are improving.
Secondary battery stocks have recently rallied and are showing improving trends. Yu Chang-hee specifically notes SK Innovation, Samsung SDI and L&F are moving well, suggesting the sector is participating in the market's broader recovery.
066970.KS LONG
006400.KS LONG
096770.KS LONG
Gold may rise on dollar weakness.
Gold has moved up about 10% from 4,100 to 4,500 as the dollar weakened. Yu Chang-hee believes that if Bessent policy causes further dollar weakness or if inflation concerns return, gold has additional upside potential.
GLD LONG
Buy Bitcoin directly, not related stocks.
Yu Chang-hee argues that investors who want crypto exposure should buy Bitcoin directly rather than buying related stocks with indirect exchange or company exposure. He views direct Bitcoin ownership as the correct way to express the crypto trade.
BTC LONG
Avoid Korean stablecoin theme stocks.
The rally in KakaoPay, Hecto Financial and Coocon on US stablecoin legislation is likely a one-off theme trade. Yu Chang-hee sees no meaningful Korean company earnings linkage yet and would wait for a clear Korean legal/regulatory framework before buying domestic stablecoin-related names.
234340.KQ AVOID
377300.KS AVOID
294570.KQ AVOID
Data center names may lead semis follow-through.
On a strong semiconductor day, equipment names did not follow as they usually do. Instead, data center and cloud-related stocks such as Naver, LG CNS and GS Construction gained, which Yu Chang-hee interprets as a possible regime shift in which semiconductor strength may increasingly flow into data center/neo-cloud names rather than traditional semiconductor equipment.
035420.KS WATCH
LG CNS WATCH
006360.KS WATCH
KOSDAQ may gain on improved breadth.
KOSDAQ's major sectors including secondary batteries, robotics, semiconductor materials/equipment and biotech are showing broadly okay sentiment. Yu Chang-hee continues to view biotech positively and believes this improved breadth can help KOSDAQ strengthen further.
KOSDAQ LONG
Alteogen can reach 400,000 won.
Alteogen is directly affected by Moderna's positive Keytruda combination data and has additional technology export contract expectations. After today's 10% gain, Yu Chang-hee sees a break of 350,000 won as opening a path toward 400,000 won.
196170.KQ LONG
Immune-oncology biotech may rotate into focus.
The Moderna cancer vaccine moment may shift biotech focus from obesity/diabetes toward immune-oncology. Yu Chang-hee says platform names such as Liga Bio and AB Bio could attract attention because Korean immune-oncology companies have larger potential upside if this theme spreads.
141080.KQ WATCH
298380.KQ WATCH
Robotics needs confirmation before entry.
Robotics is not fundamentally bad, but the Unitree-related boost was dampened by the Korean market selloff and the sector ended mixed. Yu Chang-hee wants to see whether robotics names stage a reversal tomorrow or early next week before treating the sector as a buy.
Korean Robotics WATCH
HIGH
11:30
Aug 20
Aug 20
EWY
KOSDAQ
TLT
005930.KS
BTC 1ST
▾
HIGH
Korean market rises on liquidity supply.
The overall Korean market is improving because liquidity supply is increasing. US Treasury Secretary Bessent announced Treasury buybacks, which helped cap long-term yields, and Trump is pushing the Clarity Act, which could drive stablecoin growth and demand for short-term US Treasuries. Korean customer deposits are rising again and both KOSPI and KOSDAQ rallied. Macro concerns can be temporarily set aside until US midterm elections, and investors should not slash equity exposure to only 10-20%.
EWY LONG
KOSDAQ LONG
Watch long-term Treasury yield stabilization.
The US 30-year Treasury yield has made a short-term peak and pulled back after Treasury Secretary Bessent announced buybacks. Stabilizing long-term Treasury yields is positive for risk assets and helps AI and memory names recover. However, the buyback is a temporary fix and not structurally sufficient, so investors need to monitor whether long-term yields stay contained.
TLT WATCH
Samsung shareholder return signal coming.
Samsung Electronics is expected to follow SK Hynix with a large shareholder return program, likely at least 150 trillion won, because the two memory leaders are competing on shareholder return. This is seen as a signal of 2027-2029 business confidence. The company is expected to announce something this week or next, and the mere reports strengthened the semiconductor top-two stocks.
005930.KS LONG
Bitcoin rises on stablecoin liquidity shift.
Bitcoin's sharp rally is connected to Trump urging fast passage of the Clarity Act. The bill brings crypto into an institutional framework and drives stablecoin growth. Stablecoin issuers need dollar cash equivalents such as short-term Treasuries, so stablecoin expansion creates a liquidity channel. Combined with Bessent's Treasury buyback, this improves risk-asset liquidity and supports Bitcoin's upside.
BTC LONG
Korean large-cap biotech has momentum.
Korean large-cap pharma/bio is attractive into September and October because academic conferences and licensing-out momentum are coming. The speaker advises focusing on large-cap names that are stronger than the KOSPI or KOSDAQ index. Samsung Biologics and Alteogen are cited as examples above their 120-day moving averages, with Alteogen up 56% from the July low.
207940.KS LONG
196170.KQ LONG
Shipbuilding remains cheapest sector.
Korean shipbuilding remains the cheapest sector on price-to-book among industries, and the speaker has repeatedly favored it. He suggests shipbuilding still has a favorable valuation setup.
Korean shipbuilding sector LONG
Korean semiconductors recover with rising earnings.
Korean semiconductor and memory is recovering: memory 3 companies' EPS estimates are rising steeply, the semiconductor chart shape has revived, and his portfolio semiconductor weighting was increased to 25%. High US Treasury yields remain the main valuation multiple constraint. Semiconductor equipment and materials names such as Jusung Engineering and EO Technics are rebounding strongly.
Korean semiconductor sector LONG
Power equipment worth watching.
After re-examining recent data, the speaker says power equipment stocks are also worth watching even though he had previously been less positive. He says he will provide more commentary later. This is an emerging sector watch rather than a clean aggressive long.
Korean Power Equipment Sector WATCH
SK Hynix buyback signals memory confidence.
SK Hynix announced a 40 trillion won share buyback and cancellation, about 3.5-4% of market cap. The more important signal is management confidence in 2027-2029 earnings, which foreign investors are receiving positively and which is drawing money into the stock. The stock has reclaimed its 120-day moving average and needs to hold above it for about a week. The buyback provides downside support rather than being a strong upside catalyst.
000660.KS LONG
HIGH
11:06
Aug 20
Aug 20
AI Hardware
CAT
COPPER
Aluminum
000660.KS
▾
HIGH
Hedge high rates with AI infrastructure beneficiaries.
To hedge against high interest rates caused by massive AI infrastructure investments, invest in the sectors directly benefiting from this spending: AI hardware, industrials like Caterpillar, commodities like copper and aluminum, and financials like Korea Zinc.
AI Hardware LONG
CAT LONG
COPPER LONG
Aluminum LONG
010130.KS LONG
XLF LONG
Massive FCF returns provide strong downside support.
The 40 trillion won buyback is just the start; the commitment to return at least 50% of free cash flow could mean 150 trillion won in returns over the next few years, providing strong downside support.
000660.KS LONG
Shareholder returns won't rerate cyclical semiconductor stocks.
Shareholder returns for cyclical stocks like memory semiconductors do not lead to the same long-term valuation rerating as they do for consumer tech companies like Apple, making new entries risky.
005930.KS AVOID
High crack margins threaten to reignite inflation.
While crude oil prices are stable, diesel and gasoline crack margins are extremely high due to refinery disruptions, which could reignite inflation fears and delay rate cuts.
WTI WATCH
Refining WATCH
Moderna's success boosts domestic mRNA technology developers.
Moderna's success with its mRNA cancer vaccine creates a new investment theme for domestic companies developing mRNA technologies.
mRNA related bio stocks LONG
ESMO and licensing expectations boost large-cap bio.
The pharma/bio sector has strong momentum in September and October with ESMO and licensing-out expectations; focus on large-cap stocks that are outperforming the index.
207940.KS LONG
PCB sector shows steep operating profit growth.
The PCB sector is showing a very steep and rapid increase in both revenue and operating profit, making it an attractive investment.
PCB LONG
Recent data shows strong power equipment fundamentals.
While previously favoring shipbuilding, recent data suggests the power equipment sector is also showing strong fundamentals and is worth investing in.
Power equipment LONG
Consumer goods may benefit from rotational buying.
If market sentiment shifts away from semiconductors, food and beverage and consumer goods companies could see rotational buying.
003230.KS WATCH
257720.KQ WATCH
Bio focus shifts to immuno-oncology platform developers.
The bio sector's focus is shifting from obesity drugs to immuno-oncology platforms following Moderna's cancer vaccine success, with Alteogen potentially reaching 400,000 won.
298380.KQ LONG
141080.KQ LONG
Falling interest rates will boost cosmetics stocks.
As interest rates are expected to fall before the US election, consumer discretionary sectors like cosmetics will benefit, as evidenced by Estee Lauder's recent 16% jump.
Cosmetics LONG
Use the recent rally to exit bio.
Investors should use the recent rally in the bio sector as an opportunity to exit their positions before the actual interest rate cuts occur.
XBI AVOID
AI narrative intact if NVDA holds $180.
As long as Nvidia stays above $180, the AI leadership narrative remains intact, and the stock will continue to go up despite short-term noise.
NVDA LONG
SK Square benefits from SK hynix dividends.
If SK hynix pays out special dividends as part of its shareholder return policy, SK Square, as a major shareholder, will be a direct beneficiary.
402340.KS LONG
Regulatory easing and Trump's support boost crypto.
The potential passage of the Clarity Act will spur stablecoin growth, which in turn increases demand for short-term US Treasuries, aligning with the US government's liquidity goals and boosting crypto.
BTC LONG
Regulatory easing and Trump's support boost crypto.
Trump's push for the Clarity Act to classify crypto as commodities and his mention of a strategic Bitcoin reserve are strong positive catalysts for the crypto market.
ETH LONG
ESMO and licensing expectations boost large-cap bio.
The bio sector's focus is shifting from obesity drugs to immuno-oncology platforms following Moderna's cancer vaccine success, with Alteogen potentially reaching 400,000 won.
196170.KQ LONG
HIGH
09:10
Aug 20
Aug 20
ETH 1ST
001510.KS
TLT
357780.KQ 1ST
000660.KS
▾
HIGH
Regulatory and strategic catalysts boost crypto.
Crypto is strengthening on two specific catalysts: President Trump met crypto industry officials and aggressively pushed for the Clarity Act, which would classify many coins as commodities under the CFTC rather than securities under the SEC, easing regulation; and Trump reiterated that the US views Bitcoin as a strategic asset and may make large-scale purchases. Unlike liquidity-only moves, this lifted Ethereum 15% and broadened into altcoins, signaling a broader crypto re-rating.
ETH LONG
BTC LONG
ALTCOINS LONG
SK Securities multi-tie proxy; don't chase.
SK Securities hit its upper limit because it has several overlapping ties: it is a crypto-linked securities name through its Dunamu stake, it is the brokerage handling SK Hynix's 40 trillion won buyback and therefore has fee expectations, and securities stocks generally benefited from crypto and equity market strength. Jang frames this as an explanation of the move, not a chase recommendation.
001510.KS WATCH
Buyback not QE; monitor long-end yields.
The US Treasury's doubling of long-end buybacks is not QE because it is funded by issuing short-term debt, leaving total liquidity unchanged; it has an Operation Twist-like effect that may stabilize long-end yields while short-end yields rise. However, the market still doubts it, with the 30-year yield already trying to break 5.2%, so this is a policy-driven long-end rates setup to monitor rather than a confirmed reversal.
TLT WATCH
Moderna catalyst favors Korean mRNA platforms.
Moderna's explosive mRNA vaccine advance is being interpreted in Korea as a catalyst for domestic mRNA platform companies, not just for Moderna's supply-chain names. Companies that can pursue their own mRNA-based vaccine programs, led by Samyang Biopharm, outperformed sharply. If liquidity conditions remain supportive, a new KOSDAQ mRNA theme may form. These are high-risk thematic names and should be traded with small position sizes, within 5% of the portfolio, with stop-loss discipline.
357780.KQ LONG
KOSDAQ mRNA vaccine theme LONG
Buyback positive, re-rating needs more liquidity.
SK Hynix's record 40 trillion won buyback and cancellation is clearly positive and should help form a floor, but at only 3-4% of shares outstanding it is not by itself enough to force a full valuation re-rating. Past Korean buyback cases rarely produced large multiple expansion without better liquidity, and the new labor deal paying 60% of performance bonuses in stock, with 40% of that sellable immediately this year, partially offsets the buyback effect. Existing holders can continue to hold, but new entrants should not chase aggressively.
000660.KS WATCH
Refined product prices are unusually strong.
Even with WTI crude appearing rangebound near $84-85 per barrel, refined product prices are unusually strong: diesel is near $175 per barrel, putting the crack spread at roughly $100 versus a normal $15-25 range. Refinery damage from Ukraine-Russia and Middle East attacks, plus a mismatch between light US crude and refineries configured for heavier Middle Eastern crude, are keeping refinery utilization low, so product prices are rising independently of crude.
Diesel crack spread LONG
gasoline crack spread LONG
HIGH
08:00
Aug 20
Aug 20
005930.KS
CAT
COPPER 1ST
Aluminum 1ST
XLF
▾
HIGH
Needs over 150 trillion won return to surprise.
While rumors suggest Samsung Electronics might announce a 100 trillion won shareholder return, this could actually disappoint the market. Given that Samsung's operating profit is significantly higher than SK Hynix's, a proportional return policy would need to be closer to 150 to 200 trillion won to act as a positive catalyst.
005930.KS WATCH
Buy industrials building AI data centers.
High interest rates are persisting largely because big tech companies are issuing massive amounts of corporate bonds to fund AI infrastructure. To hedge against these high rates, investors should buy the industrial companies that are actually building the data centers, such as Caterpillar, which continues to hit new highs.
CAT LONG
AI infrastructure demand boosts copper and aluminum.
The massive build-out of AI infrastructure requires significant physical materials. Commodities like copper and aluminum are seeing increased demand and rising prices as a result, making them effective hedges against the high interest rate environment driven by AI investments.
COPPER LONG
Aluminum LONG
Financials benefit from high rates and issuance.
Financials and securities firms serve as a classic hedge in the current environment. They inherently benefit from sustained high interest rates and will profit from the continuous wave of corporate bond issuance by tech companies funding AI infrastructure.
XLF LONG
High rates remain a headwind despite catalysts.
Moderna's positive mRNA cancer vaccine trial results provided a necessary catalyst for the Korean bio sector, lifting related stocks like Alteogen and ST Pharm. However, the high interest rate environment remains a fundamental headwind for biotech, so investors should remain cautious and avoid chasing unreasonable spikes.
196170.KQ WATCH
237690.KQ WATCH
Benefits directly from SK Hynix special dividends.
As liquidity flows into large-cap semiconductors due to shareholder return policies, SK Square is well-positioned to benefit. If SK Hynix issues special dividends as part of its new return policy, SK Square, as a major shareholder, will directly receive those funds, making it an attractive smaller-cap play.
402340.KS LONG
AI narrative intact if stock holds $180.
Nvidia's upcoming earnings are the critical test for the market. While 100% YoY growth is expected, management's commentary on AI infrastructure demand, margins, and the Rubin chip will dictate market direction. As long as the stock holds above $180, the long-term AI leadership narrative remains intact and the stock is a buy.
NVDA LONG
Massive shareholder returns provide strong downside support.
SK Hynix's new shareholder return policy is a game-changer. By committing to return at least 50% of free cash flow and canceling 40 trillion won in shares, the total return could reach 150 trillion won over the next few years based on projected operating profits. This massive buyback program will act as a strong downside buffer, significantly raising the stock's floor and reducing volatility during market pullbacks.
000660.KS LONG
HIGH
03:22
Aug 20
Aug 20
Digital asset custody/payment/remittance infrastructure
LINK
BTC
RWA/tokenized asset protocols
▾
HIGH
Own digital asset infrastructure, not coins.
Kim Jun-woo argues that crypto investing should shift from buying coins purely for price appreciation to identifying the infrastructure 'pipes' through which digital money and assets move. The first gateway is stablecoin and payment rails involving banks, card issuers, and payment companies, followed by securities firms, asset managers, and insurers. Investors should therefore focus on custody, payment/remittance, and compliance-oriented digital asset service providers that enable issuance and distribution of digital assets.
Digital asset custody/payment/remittance infrastructure LONG
Watch Chainlink as digital-asset verification layer.
Chainlink is cited as a peripheral service that verifies whether digital asset prices and on-chain data are accurate and whether blockchain-based assets are legitimate. As digital asset infrastructure expands, such oracle and verification providers may deserve attention, though he frames Chainlink as an example rather than a formal recommendation.
LINK WATCH
Bitcoin digital gold thesis still valid.
Despite recent risk-asset price behavior and volatility, Bitcoin's digital gold narrative remains valid because its core store-of-value properties have not changed. Institutional adoption, deep global liquidity, reduced volatility versus the past, and positions such as Harvard's endowment Bitcoin ETF holding are validating Bitcoin as a long-term digital gold asset. Therefore, long-term Bitcoin holding remains valid.
BTC LONG
Early RWA/tokenized assets still offer alpha.
Although easy 100x coin returns are largely gone, excess returns can still be found in early-stage assets within clear-usage sectors such as RWA and tokenized assets because adoption remains very low. Selecting early-stage assets in these areas can still generate alpha, unlike vague narrative-driven coins.
RWA/tokenized asset protocols LONG
HIGH
03:16
Aug 20
Aug 20
000660.KS
USD/KRW
SPY
XLY 1ST
High Dividend Stocks
▾
HIGH
SK hynix buyback is a strong catalyst.
SK hynix's announcement of a massive share buyback and cancellation program is a very aggressive and positive shareholder return policy. Similar to Samsung Electronics' move 10 years ago, this is expected to steadily lift the stock's bottom and drive long-term appreciation.
000660.KS LONG
Buy US dollars and equities now.
The USD/KRW exchange rate is likely near its bottom because the corporate demand for converting dollars to won for tax purposes ends in August. The exchange rate is expected to rise in September, making the current level an attractive entry point to buy US dollars and US equities.
USD/KRW LONG
SPY LONG
Avoid US consumer stocks, buy AI capex.
US consumer discretionary stocks should be avoided because consumption is no longer driving GDP growth. Investors should instead focus on US private capex, specifically companies involved in AI investments, which are the actual drivers of earnings and market performance.
XLY AVOID
US AI Capex LONG
Focus on dividends and earnings turnaround stocks.
During the August to October period, the market typically favors an alpha and rotation strategy. Investors should diversify into stocks with improving earnings and high dividend yields, rather than concentrating solely on the winners from the first half of the year.
High Dividend Stocks LONG
Earnings Turnaround Stocks LONG
Add AHIY or MAGS for concentrated growth.
Investors should supplement their core broad tech holdings with concentrated satellite ETFs like AHIY (focused purely on hyperscalers) or MAGS. These concentrated funds can capture explosive alpha during favorable market phases driven by AI capex.
MAGS LONG
AIHY LONG
Buy Korean biotech targeting US tech exports.
Korean biotech stocks are attractive now, specifically those expected to license out technology to US Big Pharma in the obesity and oncology sectors. While the sector lacks broad momentum, individual companies with tangible export achievements will see strong investor sentiment improvement.
Korean Biotech LONG
K9 US export boosts Hanwha Aerospace.
Hanwha Aerospace's K9 self-propelled howitzer securing a supply contract in the US market is a highly significant milestone. Beating major European competitors proves the quality of the equipment and opens the door for massive future export scale.
012450.KS LONG
Samsung foundry price hike improves profitability.
Samsung Electronics is raising its foundry prices by 10-20% because TSMC's capacity is maxed out due to AI chip demand. This pricing power will help Samsung's foundry business turn profitable, acting as a solid positive catalyst for the stock.
005930.KS LONG
Buy SCHD, avoid Korean financial stocks.
Korean financial stocks should be avoided because they lack strong momentum and their dividend appeal is weak compared to alternatives. Investors seeking safe, growing yields should invest in the US dividend ETF SCHD instead.
Korean financials AVOID
SCHD LONG
Avoid penny stocks due to dilution risks.
Investors should completely avoid penny stocks (동전주). When these companies face trading suspensions, they frequently issue massive capital increases (유상증자) that destroy 80-90% of shareholder value, leaving investors trapped.
Penny stocks AVOID
XLK is the best core tech ETF.
For a long-term core technology portfolio, XLK is superior to QQQM. It includes a higher weight of hardware and semiconductor companies, has delivered better historical returns, and features a lower expense ratio (0.08%).
XLK LONG
Use domestic ETFs for US tech exposure.
For domestic pension accounts where US-listed ETFs cannot be bought, investors should use TIGER US Tech Top 10 or SOL US AI Software to gain concentrated exposure to US big tech and software companies.
SOL US AI Software ETF LONG
411070.KS LONG
Invest in crypto infrastructure like Chainlink.
The crypto market is maturing from pure speculation to actual utility. Investors should focus on infrastructure and 'plumbing' projects that enable institutional adoption, such as stablecoins, RWA, custody solutions, and oracle networks like Chainlink.
LINK LONG
Crypto Infrastructure LONG
Moderna success lifts Alteogen and ST Pharm.
Moderna's massive stock surge following its cancer vaccine success acts as a strong positive catalyst for the Korean biotech sector, specifically benefiting mRNA and oncology-related companies like Alteogen and ST Pharm.
196170.KQ LONG
237690.KQ LONG
HIGH
02:58
Aug 20
Aug 20
BTC FLIP
HYPE 1ST
COIN
HOOD
▾
HIGH
Macro repricing plus regulatory catalyst fuels Bitcoin.
Kim explains the Bitcoin rally as a delayed repricing of macro expectations: rate increases are no longer seen as guaranteed and may be delayed or skipped, and that macro shift had not been reflected in Bitcoin. The move is being amplified by crypto-specific catalysts including Trump's White House push for the Clarity Act, short liquidations above $65,000, and FOMO buying above $68,000. He says it is not yet a full bull-market switch but the up move was overdue and supported.
BTC LONG
Trump/CFTC catalyst makes HYPE buyable.
Trump unexpectedly mentioned Hyperliquid at the White House and said the CFTC chairman is working to bring Hyperliquid into the US legally; Hyperliquid rallied about 20% on the news. Kim says his immediate reaction was to buy HYPE, and he also views Hyperliquid as a buyable asset on its own because of its strong matching engine and Wall Street attention, despite regulatory risk.
HYPE LONG
CFTC framework may boost Coinbase/Robinhood stocks.
If US regulators create a compliance path for Hyperliquid-style decentralized exchanges, Kim argues the simplest route may be to use Coinbase as a KYC/AML-compliant intermediary. Coinbase and Robinhood already have regulated wallet and brokerage infrastructure, so their stocks could react when the CFTC framework is announced.
COIN WATCH
HOOD WATCH
HIGH
02:34
Aug 20
Aug 20
XLK 1ST
AIHY 1ST
MAGS 1ST
411070.KS 1ST
SOL US AI Software ETF
▾
HIGH
XLK is the optimal core tech ETF.
XLK is the best core ETF for long-term tech investment because it includes semiconductors and hardware, which has led to better 1-year and 5-year performance than QQQM. It also features a very low expense ratio of 0.08% and holds a concentrated but diversified portfolio of about 76 stocks.
XLK LONG
AIHY offers unique, concentrated AI hyperscaler exposure.
AIHY is a newly launched active ETF that uniquely focuses purely on AI hyperscalers, including companies like Google, Amazon, Microsoft, and notably SpaceX. It offers a differentiated, concentrated satellite exposure to the core AI infrastructure theme, though its small size requires monitoring.
AIHY LONG
MAGS is a strong satellite for alpha.
MAGS provides concentrated, equal-weighted exposure to the Magnificent Seven. While it carries higher drawdown risks than broad indices, it can deliver explosive alpha during specific market phases when Big Tech leads, making it an excellent satellite holding for tactical alpha.
MAGS LONG
Use concentrated tech ETFs as pension satellites.
For domestic Korean pension accounts, investors should use broad index ETFs like KODEX US Nasdaq 100 as a core, but add concentrated ETFs like TIGER US Tech TOP10 Index or SOL US AI Software as satellites, as they have shown strong long-term performance and capture the current AI software rotation.
411070.KS LONG
SOL US AI Software ETF LONG
KODEX US Nasdaq 100 ETF LONG
Avoid space ETFs until the industry matures.
The space industry is not yet mature enough to have clear, broad upward momentum, making space-themed ETFs unattractive right now. Investors should avoid broad space ETFs and instead wait for the industry to mature or accumulate individual leaders like SpaceX during lock-up expiries.
ARKX AVOID
SPCX WATCH
Luxury sector faces slowing demand and headwinds.
The global luxury sector is facing significant headwinds due to reduced European tourism from Middle Eastern wealth (impacted by the war) and a growing 'luxury shame' trend in China, which is dampening high-end consumption and reflecting in slowing corporate earnings.
XLY AVOID
Avoid broad KOSDAQ biotech due to risks.
The Korean biotech sector is experiencing severe decoupling and high risk. While a few companies succeeding in technology exports (like Alteogen) are rising, many others face delisting risks and capital reductions as the government weeds out weak firms, making the broad sector dangerous.
KOSDAQ Biotech AVOID
196170.KQ WATCH
Tencent and Take-Two face fundamental concerns.
Tencent's recent earnings showed slowing profit growth despite revenue beats, raising concerns about its fundamental earnings power. Take-Two is suffering from overvaluation concerns as expectations for new releases are too high while the company remains in a deficit.
0700.HK AVOID
TTWO AVOID
HIGH
01:23
Aug 20
Aug 20
000660.KS
001510.KS
005930.KS
NVDA
▾
HIGH
SK Hynix buyback signals more shareholder returns
SK Hynix surprised with an earlier-than-expected 40 trillion won buyback and immediate cancellation, shifted its shareholder return framework to 50% or more of free cash flow, and left room for additional special dividends or capital reduction dividends at third-quarter results; the company views its stock as undervalued, ADR proceeds can cover capex, and built-up short positions could fuel further upside.
000660.KS LONG
SK Securities benefits from Hynix buyback flows
SK Hynix will execute its 40 trillion won buyback through SK Securities, making SK Securities a direct order-flow beneficiary for the three-month buyback program, which already pushed SK Securities shares higher.
001510.KS WATCH
Samsung may follow with stronger shareholder returns
Samsung Electronics is likely to respond to SK Hynix's aggressive shareholder return with stronger return measures, and it has additional catalysts such as foundry earnings recovery and potential special dividends, supporting a catch-up rally after SK Hynix's larger decline and rebound.
005930.KS LONG
Watch Nvidia earnings for China H200 upside
Nvidia's earnings are the next major event; the key watch point is China H200/HBM-related revenue, since recent reports suggest ByteDance secured H200 units and possible US-China export easing could lift Nvidia's third-quarter guidance and Korean HBM supplier expectations.
NVDA WATCH
HIGH
01:17
Aug 20
Aug 20
EWY
XBI 1ST
Korean earnings/dividend stocks
SPY
▾
HIGH
Buy KOSPI after July correction.
The July correction looks like a buyable dip for Korean equities. Korean and global earnings are broadly solid, interest rates are stabilizing, and risk appetite is recovering. Lee argues the KOSPI around 2,600-2,700 is a statistically attractive entry zone, and 'buy on big dips' simulations show positive medium/long-term outcomes. Foreign buying should improve as the won strengthens, semiconductor volatility falls, and ETF demand rotates back from single-stock leveraged products to index and sector ETFs.
EWY LONG
Biotech earnings improving; sector rebounding.
Biotech and pharma earnings have been okay, with earnings estimate revisions rising for about one to two weeks. As rates fall and risk appetite recovers, beaten-down biotech/pharma names are rebounding and can participate in the rotation away from semiconductors.
XBI LONG
Favor earnings and dividend stocks now.
August-October seasonality shifts the market from July's profit-taking toward broader alpha. Stocks with improving earnings and dividend/shareholder-return themes tend to recover, so Lee recommends diversifying the universe and rotating into companies with good earnings or dividends rather than staying concentrated only in first-half winners such as semiconductors.
Korean earnings/dividend stocks LONG
US market rotating into laggards.
In the US, the current regime is rotation: laggard/beaten-down factor performance is strong as rates fall and risk appetite returns. This broadening is meaningful because it is also appearing in Korean equities and supports a more diversified second-half equity strategy.
SPY WATCH
HIGH
00:43
Aug 20
Aug 20
237690.KQ
BTC 1ST
Penny stocks
000660.KS
USD/KRW
▾
HIGH
Watch ST Pharm as biotech momentum indicator.
ST Pharm acts as a crucial momentum indicator for the Korean biotech sector, particularly regarding mRNA and Moderna-related news. If ST Pharm fails to maintain its upper limit price (sang-han-ga), the broader biotech rally is likely to lose steam, triggering profit-taking and a rotation of capital back into semiconductors or other sectors.
237690.KQ WATCH
Buy local crypto proxies amid Bitcoin surge.
With Bitcoin surging past 94 million KRW due to shifting interest rate expectations and strong performances from US crypto proxies, local stablecoin and crypto-exchange related stocks like Hecto Financial, Kakao Pay, and Woori Technology Investment are experiencing strong short-term momentum and rotational buying.
BTC LONG
041190.KQ LONG
37730.KS LONG
234340.KQ LONG
Avoid penny stocks due to delisting risks.
Penny stocks carry severe risks of trading suspensions and subsequent massive rights offerings that can wipe out 80-90% of shareholder value. Investors holding fundamentally weak penny stocks facing potential delisting or management issues should quickly liquidate and rotate their portfolios into safer assets.
Penny stocks AVOID
Accumulate top Korean memory chipmakers on dips.
SK hynix's announcement of share buybacks, cancellations, and shareholder return policies provides strong downside support and signals a trend reversal for the semiconductor sector. Samsung Electronics is expected to follow suit with its own shareholder return policies. Investors should use market dips to accumulate these top-tier memory chipmakers, with a suggested portfolio allocation of 60% SK hynix and 40% Samsung Electronics.
000660.KS LONG
005930.KS LONG
DCA into US assets during won strength.
The USD/KRW exchange rate has temporarily dipped into the 1300s due to corporate supply and a weaker dollar, but it is expected to eventually settle back above 1400 won. Investors who previously hesitated to buy US assets due to the high exchange rate should use this temporary won strength to dollar-cost average (DCA) into US equities.
USD/KRW LONG
SPY LONG
Rising precious metals prices benefit Korea Zinc.
Global gold and silver futures prices have risen significantly, indicating easing burdens from bond yields. This macroeconomic shift provides a favorable setup for precious metals and related equities like Korea Zinc, which could see upward movement.
GLD LONG
010130.KS LONG
Avoid Korean financials due to low returns.
Korean financial stocks (banks, securities, insurance) are not recommended as a priority investment. Insurance stocks are too complex due to frequent accounting changes, and the sector overall struggles to act as a reliable defensive play, often underperforming without specific shareholder return events.
Korean financials AVOID
Buy SCHD for safe dividend growth.
For dividend and defensive investing, the Schwab US Dividend Equity ETF (SCHD) is a much safer and superior alternative to Korean financial stocks. It offers structural dividend growth, reliable rebalancing, and significantly better long-term total returns.
SCHD LONG
HIGH
00:02
Aug 20
Aug 20
000660.KS
AAPL
196170.KQ FLIP
ST Pharm
ABL Bio
▾
HIGH
SK Hynix's strong shareholder return policy drives upside.
SK Hynix announced a shareholder return policy of over 50% of free cash flow. Compared to Micron, SK Hynix has a lower market capitalization but higher free cash flow, making this policy highly impactful and suggesting the stock has significant room to rebound and perform well.
000660.KS LONG
Falling Treasury yields benefit US Big Tech stocks.
US Big Tech stocks such as Apple, Tesla, Amazon, and Oracle are benefiting from the recent drop in US Treasury yields, as high interest rates have previously acted as a significant cost burden for these companies.
AAPL LONG
TSLA LONG
AMZN LONG
ORCL LONG
Moderna's success acts as a catalyst for Korean biotech.
Moderna's massive surge on positive cancer vaccine trial results is acting as a major catalyst for the Korean biotech sector. Companies involved in mRNA and cancer treatments, such as Alteogen, ST Pharm, ABL Bio, and Samsung Biologics, are seeing strong positive momentum as market sentiment shifts favorably towards biotech.
196170.KQ LONG
ST Pharm LONG
ABL Bio LONG
207940.KS LONG
Foundry price hikes will improve Samsung's profitability.
Samsung Foundry is raising its prices by up to 15% because TSMC's capacity is full, forcing customers to diversify their orders. This price hike will help Samsung's foundry business turn a profit by Q4 or next year, significantly improving its overall corporate earnings.
005930.KS LONG
HIGH
23:26
Aug 19
Aug 19
TLT 1ST
IEF 1ST
000660.KS
005930.KS
012450.KS 1ST
▾
HIGH
Long-term Treasury yields stay elevated.
The US Treasury's buyback expansion to at least $4bn in 10-30y paper pushed long-end yields down about 9bp, but this is not a structural shift. The market does not expect long-term Treasury yields to fall because US debt has exceeded $40tn, war spending continues, oil-led inflation is rising, and the problem is structural rather than a temporary supply issue. Long-term yields are therefore likely to remain elevated or biased upward, making long-duration Treasury prices unattractive.
TLT SHORT
IEF SHORT
SK Hynix's 40 trillion buyback is positive.
SK Hynix announced a 40 trillion won treasury stock cancellation after market close. The scale is enormous, roughly equal to Samsung SDI's market cap. Korean rules now make buybacks effectively read as cancellations. SK Hynix shifted shareholder return language from within 50% of cumulative free cash flow to at least 50%, and Q2 net cash was about 69 trillion won, showing improved cash generation. This confirms the prior shareholder return commitment and removes uncertainty about the delayed announcement, so the news should be taken as a clear positive.
000660.KS LONG
Samsung may unveil larger shareholder return.
After SK Hynix's aggressive 40 trillion won buyback and cancellation, attention shifts to Samsung Electronics. Samsung has about 167 trillion won in cash assets, has historically paid the largest dividends, and already announced a 16 trillion won buyback/cancellation plan in the first half. With cash-rich Samsung being compared to SK Hynix's 40 trillion won move, the market expects Samsung to show something larger on shareholder return.
005930.KS WATCH
Hanwha Aerospace benefits from K9 US contract.
K9 self-propelled howitzer has broken into the US via a contract to supply six wheeled K9 units to Hanwha Defense USA, with options to 12 and a longer-term plan up to 500 units worth about 10 trillion won. K9 already has over 50% global market share and beat BAE Systems and Rheinmetall. Hanwha Aerospace makes the K9 chassis and also the Cheongung missile system chassis, so it directly benefits from the US validation and export expansion.
012450.KS LONG
Hanwha may pursue KAI strategic stake.
Hanwha appears to be buying Korea Aerospace Industries shares because it wants a Lockheed Martin-like integrated defense group once the land, sea, and air defense portfolio is completed. Hanwha has taken its KAI stake to a level where the Fair Trade Commission is reviewing a business combination, even though a formal combination has not been announced, suggesting strategic M&A interest and a potential event-driven setup in KAI.
047810.KS WATCH
HIGH
23:00
Aug 19
Aug 19
USD/KRW
SPY
USD 1ST
AI Semiconductors
SMH 1ST
▾
HIGH
USD/KRW will rise after August tax season.
The current strength of the Korean Won is temporary, driven by companies repatriating dollars to pay corporate taxes by the end of August. Once this seasonal demand fades, the USD/KRW exchange rate is likely to rise again in September, making August an optimal time to buy dollars and increase exposure to US equities.
USD/KRW LONG
SPY LONG
USD LONG
Focus on AI capex over consumer spending.
Investors should ignore weak consumer spending data and focus on US private investment, specifically AI capex. AI is fundamentally improving productivity and changing how work is done, justifying continued investment in AI-related stocks and the Philadelphia Semiconductor Index despite recent market pullbacks.
AI Semiconductors LONG
SMH LONG
Buy biotech firms with tech export potential.
Rather than buying the broad biotech sector dominated by large caps, investors should pick individual Korean biotech companies with strong potential to export technology to US Big Pharma, particularly in the obesity and oncology fields, and hold them for expected second-half results.
Korean Biotech LONG
Use income strategies in a box-range market.
In a box-range market where volatility is expected to decrease, investors should utilize strategies that generate income from falling volatility, such as covered calls or high-dividend investments, rather than solely betting on market direction.
Covered Call ETFs LONG
High Dividend Stocks LONG
Aggressive shareholder returns will drive a re-rating.
SK Hynix's policy to return 50% of its free cash flow to shareholders over three years is a highly positive and aggressive shareholder return strategy. Similar to Samsung Electronics a decade ago, this policy is expected to drive a structural re-rating of the stock, especially given its current low PBR of 1.9x compared to Samsung's 2.7x.
000660.KS LONG
HIGH
22:18
Aug 19
Aug 19
AVGO FLIP
MRVL
000660.KS FLIP
EL 1ST
BTC
▾
HIGH
Google's supplier diversification threatens Broadcom's market share.
Broadcom is facing downward pressure as major clients like Google actively diversify their TPU component suppliers by partnering with companies like Marvell and MediaTek to reduce costs and alleviate memory bottlenecks.
AVGO AVOID
Google partnership boosts Marvell's AI component business.
Marvell secured a partnership with Google to supply AI accelerators and networking components for TPUs. The deal includes issuing warrants to Google, providing Marvell with capital and a major customer while helping Google diversify its supply chain.
MRVL LONG
Disappointing shareholder returns weigh on SK hynix.
SK hynix's stock performance has been sluggish because its announced shareholder return policy of 50% of free cash flow disappointed investors when compared to US peers like Micron, which committed to returning 100% of excess cash flow.
000660.KS AVOID
Premium fragrance growth drives Estee Lauder's earnings.
Estee Lauder surged 16% driven by strong earnings, specifically highlighted by a 10% growth in its premium fragrance division.
EL LONG
Falling yields and short covering boost Bitcoin.
Bitcoin surged near $70,000 driven by short covering and increased liquidity expectations following the drop in US Treasury yields, lifting related stocks like MicroStrategy and Coinbase.
BTC LONG
MSTR LONG
COIN LONG
Positive cancer vaccine trials expand mRNA potential.
Moderna and Merck surged following positive clinical trial results for their personalized cancer vaccine combined with Keytruda in treating melanoma. The market is highly optimistic because this customized mRNA approach could potentially be applied to other types of cancer like lung, bladder, and kidney cancer.
MRK LONG
MRNA LONG
Unitree's IPO highlights Tesla's humanoid robot potential.
Tesla is experiencing a positive re-evaluation in the US market driven by growing interest in humanoid robots, sparked by the highly successful IPO of the robotics company Unitree.
TSLA LONG
Business normalization and market positioning drive Target.
Target's stock is performing very well due to business normalization, tariff refunds, and a market positioning that perfectly fits the current consumer environment and shopping trends.
TGT LONG
Rising foundry prices boost Samsung's earnings outlook.
Samsung Electronics is reportedly raising its advanced foundry service prices by 15% as demand from major tech companies like Nvidia, Broadcom, Tesla, and Apple increases, which could serve as a positive catalyst for the stock.
005930.KS LONG
Treasury buybacks drive down long-term bond yields.
The US Treasury announced it will double its buyback of 10-to-30-year long-term bonds from $2 billion to $4 billion. This acts as a strong positive catalyst that immediately drove down long-term yields, boosting liquidity-sensitive assets.
TLT LONG
HIGH
13:30
Aug 19
Aug 19
SPY
AMZN
TLT
MSFT
META
▾
HIGH
AI earnings revisions support S&P 500 upside
Despite high valuation metrics and midterm-year seasonality, S&P 500 earnings revisions have been unusually strong, with 2025 EPS expectations revised about 15% above the start of the year. Song sees AI adoption as still early and expects current earnings strength to continue into next year unless long-term rates rise sharply, so he remains cautiously optimistic on US equities.
SPY LONG
Hyperscaler off-balance-sheet debt is future risk
Song warns that Meta, Microsoft, Amazon, and Alphabet have an estimated $2.4 trillion of off-balance-sheet liabilities beyond their reported debt. He says this is not an immediate problem, but if AI earnings do not grow enough to justify the spending, these liabilities could become a serious issue and trigger major market stress.
AMZN WATCH
MSFT WATCH
META WATCH
GOOG WATCH
Long-term US Treasury yields face upward pressure
Song argues that long-term US Treasury yields face sustained upward pressure from three structural forces: post-COVID inflation, US-China supply-chain fragmentation, and persistent government debt buildup. Although nominal GDP growth currently helps absorb higher rates, he says bond investors are increasingly worried about a debt snowball effect.
TLT AVOID
Big Tech corporate bonds beat US Treasuries
With US 30-year Treasury yields around 5.3% and Alphabet 30-year bonds offering about 6.3-6.5%, investors are choosing Big Tech corporate bonds over US government debt. Song says this shift is pulling money toward Big Tech credit and adding upward pressure to US Treasury yields.
LQD LONG
Samsung and SK Hynix look attractive
Samsung Electronics has fallen enough to look like a value and high-dividend stock, supported by buybacks and cancellations, while SK Hynix ADR is showing positive after-market action. Song expects hedge fund churning to give way to longer-term investors, making the recent semiconductor decline potentially positive.
KS LONG
HIGH
12:30
Aug 19
Aug 19
005930.KS
000660.KS 1ST
Korean semiconductor materials/components/equipment
007660.KS
039030.KQ
▾
HIGH
Memory needs earnings proof to re-rate.
Yu is medium-term positive on memory because spot prices are still rising and HBM next-year contract pricing is not yet open; if long-term AI agreements prove memory is a strategic asset, the sector can re-rate like TSMC. However, foreign investors are not yet aggressively buying Samsung Electronics and SK Hynix because next-year earnings estimates have flattened and high bond yields cap valuations. She advises monitoring bond yields, earnings estimate direction, and HBM negotiation outcomes rather than chasing aggressively.
005930.KS WATCH
SK Hynix buyback gives downside support.
SK Hynix announced a 40 trillion won share buyback and immediate cancellation over about three months starting August 20, which implies roughly 650 billion won of daily buyback demand, or about 5-6% of average turnover. The company also changed its free cash flow shareholder return policy from within 50% to at least 50%, making 50% a guaranteed minimum. It signaled a further specific shareholder return plan at Q3 results, so the 40 trillion won is not the end. Yu argues this does not directly increase next-year earnings, but it gives downside support, creates discomfort for short sellers, and is a positive re-rating story for SK Hynix.
000660.KS LONG
Small-cap chip suppliers outperform only conditionally.
Yu likes semiconductor materials/components/equipment because these small and mid-cap suppliers can outperform while Samsung Electronics and SK Hynix are merely flat, as shown by Isu Petasys, EO Technics, HPSP and PSK Holdings. But she says this trade is conditional on the memory cycle and large-cap trend not breaking, and because these names are small and volatile, individual investors should treat them as a smaller satellite allocation around a large-cap memory core rather than chasing them broadly.
Korean semiconductor materials/components/equipment WATCH
007660.KS WATCH
039030.KQ WATCH
403870.KQ WATCH
031980.KQ WATCH
HIGH
11:30
Aug 19
Aug 19
NVDA
005930.KS
AMZN
US Big Tech
GOOGL
▾
HIGH
Big tech capex fears premature; monitor credit
Big Tech sell-off fears from rising long-end rates and Nvidia-related credit guarantees are premature because the companies can still fund their AI capex. Amazon data center revenue growth accelerated from 28% to 37%, Google Cloud from 63% to 82%, and Nvidia received an A1 Moody's rating with large cash holdings. The speaker says there have been no credit downgrades or failed bond issuances, and he would only turn bearish on Big Tech if credit ratings are cut or companies actually fail to raise funds, so the setup is a monitor rather than a sell.
NVDA WATCH
AMZN WATCH
US Big Tech WATCH
GOOGL WATCH
Samsung likely follows with shareholder returns
Samsung Electronics is likely to accelerate its shareholder return policy after SK Hynix's move. Samsung already links shareholder returns to 50% of free cash flow and has very large projected free cash flow of about 185 trillion won this year and 364 trillion won next year, so the speaker expects competitive time pressure to force a positive Samsung shareholder-return announcement soon, which is bullish for the stock.
005930.KS LONG
SK Hynix buyback supports undervalued stock
SK Hynix delivered a surprise 40 trillion won share buyback and cancellation plan, with shareholder returns based on at least 50% of cumulative 2025-2027 free cash flow. The speaker views this as a strong positive catalyst because management states the stock is undervalued relative to its intrinsic value and AI memory earnings, the cancellation offsets ADR dilution, and the three-month direct buyback creates sustained daily demand. He expects the stock to rebound.
000660.KS LONG
HIGH
11:03
Aug 19
Aug 19
012450.KS
196170.KQ
095340.KQ
005380.KS
US Big Tech
▾
HIGH
US Army testing K9 howitzers is highly positive.
The US Army testing Hanwha Aerospace's K9 self-propelled howitzers is highly meaningful as it marks the entry into the US market, which sets the standard for Western weapons. With the US M1A1 Abrams seen as inefficient, this opens significant doors for Korean defense products.
012450.KS LONG
Defended support level; Enhertu expansion is positive.
Alteogen successfully defended the 300,000 won support level despite the broader market crash. The expansion of indications for Enhertu (ADC) is entirely positive for Alteogen, which provides the underlying ADC technology.
196170.KQ LONG
Valuation burden eased; attractive for bargain hunting.
ISC's valuation burden has eased significantly, with its 12-month forward P/E dropping below 30x from a peak of 60x. With rising guidance and a deep price correction, it is attractive for bargain hunting, targeting a rebound to 190,000 won.
095340.KQ LONG
Long-term robotics potential but short-term strike risks.
Hyundai Motor has long-term growth potential driven by robotics (Boston Dynamics) and is undervalued compared to Chinese robotics peers like Unitree. However, short-term risks exist due to the upcoming union strike and wage negotiations, which could hurt margins.
005380.KS WATCH
Big Tech fundamentals strong despite rising borrowing costs.
Despite rising CDS premiums and borrowing costs for US Big Tech companies, their fundamentals remain strong, and they have not faced credit downgrades or funding failures. Investors should hold these stocks but monitor closely for any signs of actual funding failures.
US Big Tech WATCH
Overly corrected; expected to recover to 50,000 won.
HPSP was overly corrected and is now bouncing back with a strong bullish candle. The usage of its equipment will increase, and the stock is expected to recover to the 50,000 won level.
403870.KQ LONG
Buy biotech in summer for winter catalysts.
Korean biotech stocks exhibit strong seasonality: buy in summer and sell in winter. Major catalysts and clinical results from global conferences typically emerge from September through winter, making the sector attractive to accumulate now.
Korean Biotech LONG
Buy resilient KOSDAQ stocks on market dips.
The recent market plunge was driven by macro factors rather than fundamental issues. KOSDAQ stocks that showed strong resilience and doubled during the recent bounce are excellent candidates for buy-on-dips to capture short-term trading profits.
KOSDAQ LONG
Massive share cancellation provides strong downside support.
Foreign investors are hesitant to buy SK hynix because earnings estimates have flattened. However, SK hynix's commitment to return at least 50% of FCF to shareholders provides a strong floor, making it uncomfortable to short. Long-term prospects remain positive if they can prove profitability through Long-Term Agreements (LTA).
000660.KS LONG
Keep memory large-caps as core; trade equipment cautiously.
Semiconductor equipment stocks offer good alpha potential, but they require Samsung Electronics and SK hynix to hold steady. Due to high volatility and the difficulty for retail investors to size up positions, it is better to keep memory large-caps as the core portfolio and only trade equipment stocks if you have strong conviction.
SMH WATCH
Strong earnings revisions support S&P 500 optimism.
The S&P 500 is showing exceptionally strong performance for a mid-term election year, driven by massive upward revisions in earnings estimates. While rising long-term Treasury yields pose a risk, the strong fundamentals of AI and Big Tech companies justify an optimistic stance, though investors should remain vigilant.
SPY LONG
HIGH
09:13
Aug 19
Aug 19
TLT 1ST
EWY
000660.KS
005930.KS FLIP
KOSDAQ
▾
MED
Avoid bonds; yields keep rising globally
Long-term government bond yields in Germany, the U.S., Japan, and Korea have all risen; with rate-hike and inflation risks building, he says the bond market is unattractive and it is hard to make trading or capital-gain profits in bonds.
TLT AVOID
KOSPI likely rebounds tomorrow, upside capped
Today's KOSPI drop is rate-driven and reflects foreign index selling rather than a broad semiconductor breakdown; for tomorrow he expects a partial rebound because foreign futures selling slowed late in the session, U.S. markets held outside semis, and SK Hynix buyback news helps sentiment, though the rebound should be limited while bond-yield pressure remains.
EWY LONG
SK Hynix buyback supports next-session bounce
SK Hynix announced a 40 trillion won treasury stock purchase and cancellation after the close, and its ADR is up about 6% in after-hours; that is a credible positive catalyst that should support a next-session bounce, even though the broader market remains rate-capped.
000660.KS LONG
Samsung at 276,000 won is profit-taking zone
Samsung Electronics rallied into its July 23 high around 276,000 won, which is a supply area; investors who bought lower or have gains should take profit there, and then can look to re-enter after a pullback.
005930.KS AVOID
Buy strong KOSDAQ names on pullbacks
KOSDAQ's behavior has changed from the first half; strong KOSDAQ momentum names rallied, and he would buy them on pullbacks for short-term gains. He expects KOSDAQ not to revisit its prior low and thinks it can break 900 as investors rotate away from Samsung Electronics and SK Hynix toward other sectors.
KOSDAQ LONG
MED
08:46
Aug 19
Aug 19
012450.KS
000660.KS
403870.KQ
Korean Biotech
196170.KQ
▾
HIGH
K9 howitzer successfully penetrated the US Army.
Hanwha Aerospace successfully penetrated the US Army market with its K9 self-propelled howitzer. This is highly meaningful as the US seeks cost-effective alternatives to its expensive legacy tanks.
012450.KS LONG
Massive share buyback will drive strong rebound.
SK hynix announced a massive share buyback and cancellation (stated as 40 trillion won), which is a historic shareholder return move that will drive the stock price up significantly and lead a broader market rebound.
000660.KS LONG
Oversold stock rebounding toward 50,000 won level.
HPSP was excessively oversold and is now showing a strong rebound. As equipment usage is expected to increase, the stock price is likely to recover to the 50,000 won level.
403870.KQ LONG
Buy biotech in summer for winter catalysts.
Korean biotech stocks exhibit strong seasonality. Investors should buy in the summer and sell in the winter, as major clinical catalysts and licensing events typically occur from September through early next year.
Korean Biotech LONG
Enhertu's clinical success benefits Alteogen's ADC platform.
Alteogen successfully defended the 300,000 won support level. Positive clinical results for Daiichi Sankyo's Enhertu in new indications provide a strong tailwind for Alteogen's ADC technology platform.
196170.KQ LONG
Sell short-term pops on Trump summit news.
North Korea's economy is currently stable due to trade with Russia and China, giving them little incentive to negotiate with the US. Any short-term pop in North Korea theme stocks on Trump summit news should be sold.
064350.KS AVOID
089050.KS AVOID
Reduce equity exposure due to tight liquidity.
Global liquidity remains tight due to high interest rates and oil prices. The recent AI-driven rebound lacked sustained momentum, so investors should reduce equity exposure and raise cash.
EWY AVOID
Monitor strike risks despite cheap long-term valuation.
Hyundai Motor's long-term prospects are positive due to cheap valuation and robotics integration, but short-term momentum is hindered by an upcoming labor union strike that could damage earnings.
005380.KS WATCH
Monitor robotics for long-term growth potential.
Unitree's high-valuation IPO in China confirms the long-term potential of the robotics industry, though short-term momentum for Korean robot stocks faded as a 'sell the news' event. The sector remains attractive long-term.
277810.KQ WATCH
108490.KQ WATCH
High interest rates threaten regional bank stability.
If the current high interest rate environment persists and causes systemic issues, US regional banks will be the first sector to take a hit. Investors should monitor them closely for signs of stress.
KRE WATCH
Expected to follow with shareholder return announcements.
Following SK hynix's massive shareholder return announcement, the market will anticipate Samsung Electronics to soon announce its own dividend and buyback plans to keep pace.
005930.KS LONG
Eased valuation burden sets up strong rebound.
ISC's valuation burden has eased significantly after a steep correction, with its forward P/E dropping below 30x. This sets up a favorable risk-reward for a rebound to the 190,000 won level.
095340.KQ LONG
HIGH
03:15
Aug 19
Aug 19
TOKENIZED STOCKS
COIN
ONDO
SECZ
Tokenized stock platforms
▾
HIGH
Tokenized stocks are growing but early.
Tokenized stocks grew sharply in the first half, driven by retail investors in regions with constrained access to US equities. The market is still very early: based on The Block data, tokenized stock market cap is around $2.8B, only about 10-15% of RWA, so the sector is fast-growing but small and not yet institutional scale.
TOKENIZED STOCKS WATCH
Custodial tokenized stocks gaining over synthetic.
Tokenized stocks are moving from synthetic price-tracking products toward custodial structures that hold underlying shares and support some shareholder rights. Coinbase is launching 1:1-backed stock tokens with rights for non-US investors, and Ondo is adding indirect voting through partnerships; this should increase custodial-type share among major platforms and support tokenized stock convergence with real equities.
COIN WATCH
ONDO WATCH
Securitize must monetize partnerships.
Securitize's first post-listing results disappointed: platform AUM hit record and transaction volume grew 147%, but revenue fell 5% year-over-year and adjusted EBITDA turned negative, sending shares down 20%. The company has ample post-listing cash, and partnerships with NIS, Cantor/Broad and DTCC plus Finra custody approval are not yet in earnings; the central watch point is whether growth converts into revenue and profit.
SECZ WATCH
No clear tokenized stock winner yet.
Although Ondo and Binance currently lead tokenized stocks with roughly 77% share, monthly rankings keep changing and figures vary by data provider; the market is too early to conclude which platform will break away, so picking a winner now is premature.
Tokenized stock platforms WATCH
HIGH
03:10
Aug 19
Aug 19
020150.KS
237880.KQ 1ST
226320.KS 1ST
114840.KQ 1ST
OUST 1ST
▾
HIGH
AI PCB demand drives supply chain expansions.
Isu Petasys is reviewing follow-up investments for its 6th plant due to surging demand for high-spec AI data center PCBs. This capacity expansion will create a chain reaction of demand for its suppliers, benefiting Doosan (which supplies CCL) and Lotte Energy Materials (which supplies copper foil).
020150.KS LONG
000150.KS LONG
Cosmetics offer defensive strength and export momentum.
Cosmetics stocks like Clio, It's Hanbul, and iFamilySC are showing strength as defensive plays during market downturns and are expected to benefit from positive export data releases.
237880.KQ LONG
226320.KS LONG
114840.KQ LONG
US sanctions on China benefit Ouster's LiDAR.
Ouster is benefiting from US sanctions on Chinese LiDAR makers like Hesai and RoboSense. By acquiring Velodyne and Stereolabs, Ouster combined LiDAR and 3D camera technologies to offer cheaper, smaller solutions with a large customer base.
OUST LONG
Larger chips cause structural substrate supply shortages.
Substrate makers are seeing increasing order backlogs. The trend toward larger chips and higher layer counts reduces effective production capacity, leading to a structural supply shortage. Companies are securing long-term agreements and expanding capacity with customer funds, minimizing downside risk.
356860.KQ LONG
353200.KS LONG
222800.KQ LONG
AI PCB demand drives supply chain expansions.
Substrate makers are seeing increasing order backlogs. The trend toward larger chips and higher layer counts reduces effective production capacity, leading to a structural supply shortage. Companies are securing long-term agreements and expanding capacity with customer funds, minimizing downside risk.
007660.KS LONG
Export data releases drive food and cosmetics.
Food stocks like Samyang Foods and cosmetics stocks like Silicon2, d'Alba Global, and APR are strong export growth stocks. They are expected to show positive momentum ahead of the 10-day export data release, making them attractive for short-term swing trading.
026220.KS LONG
257720.KQ LONG
278470.KS LONG
003230.KS LONG
GC Genome expects Japan and US approvals.
GC Genome holds the #1 market share in Korea's NIPT market, generating continuous quarterly profits and holding over 40 billion KRW in net cash. Upcoming catalysts include Japan MHLW certification in September and US FDA submission for its pancreatic cancer screening test.
340450.KQ LONG
Securitize struggles to convert AUM into revenue.
Securitize reported disappointing earnings with a 5% YoY revenue drop and high costs, despite growth in platform AUM. It remains to be seen if their numerous recent partnerships will translate into actual revenue in the coming quarters.
SECZ WATCH
Jetema expands botulinum toxin exports globally.
Jetema is successfully transitioning from fillers to botulinum toxin. It will start recognizing export revenue from Thailand in September, expects Turkey approval this year, and has submitted for approval in China, where it secured a 10-year contract to tap into a rapidly growing market.
216080.KQ LONG
US defense contracts drive Hanwha Aerospace's outperformance.
Hanwha Aerospace is outperforming the market due to a large-scale missile contract with the US government and news of being the sole candidate for a 30 trillion won US self-propelled howitzer project.
012450.KS LONG
Tight MLCC supply and price hikes boost earnings.
The MLCC market is experiencing tight supply for IT and AI servers, with utilization rates near 100% and no major capacity expansions by competitors. Price hikes for large clients started in late June, which will significantly boost earnings from Q4.
009150.KS LONG
Hyundai leads physical AI; Q3 turnaround expected.
Hyundai Motor is leading in physical AI through Boston Dynamics. Despite poor Q2 earnings, a turnaround is expected in Q3, making the current stock price drop a good buying opportunity before they reveal more advanced humanoid robot capabilities.
005380.KS LONG
On-site data center power drives distribution demand.
Tech companies are increasingly building on-site power generation for data centers to avoid waiting for transmission network expansions. This drives demand for power distribution solutions over transmission networks. LS Electric's recent $34.25M distribution solution contract with Bloom Energy highlights this growing trend.
010120.KS LONG
HIGH
02:49
Aug 19
Aug 19
ETH
XRP
Crypto Market
BTC
ALTCOINS
▾
HIGH
Clarity Act vote boosts crypto regulatory outlook
Senator Cynthia Lummis announced that a cloture vote on the Clarity Act is scheduled for September 15, signaling Senate Republicans believe they can secure the 60 votes needed to proceed. The bill matters because it separates investment contracts from the underlying tokens: even if early token sales are securities, the token itself can be treated as a commodity under CFTC once sufficiently decentralized and circulating. This would remove the SEC basis for treating tokens like Ethereum and XRP as unregistered securities, reducing altcoin litigation risk.
ETH WATCH
XRP WATCH
BTC WATCH
SEC rule eases token issuance uncertainty
The SEC proposed Regulation Crypto to fill the Clarity Act gap before legislation passes: projects can issue up to $5 million without securities registration, or up to $75 million annually with financial statements and ongoing disclosure, and tokens sold under investment contracts can escape securities treatment once the issuer relationship ends. CFTC is expected to publish a similar position on August 20, so the regulatory environment for token issuers and altcoin projects is easing even absent a law.
Crypto Market WATCH
ALTCOINS WATCH
HIGH
02:21
Aug 19
Aug 19
EWY 1ST
US10Y
WTI
005930.KS 1ST
012450.KS 1ST
▾
HIGH
Buy KOSPI on excessive dips
The KOSPI sell-off is overdone because valuations for the KOSPI, Samsung Electronics, and SK hynix remain at post-2020 lows; VKOSPI has fallen from historical highs around 96 to 55-60; single-stock leveraged ETF turnover collapsed from 17tn won to under 1tn won; foreigners returned to net buying in August; and market breadth is broadening beyond the semiconductor top-two. He says this is a buy-or-hold zone, not a sell zone.
EWY LONG
Monitor 10Y as key KOSPI driver
The US 10-year Treasury yield at around 4.7% makes risk-free assets more attractive relative to equities, and its negative correlation with the KOSPI has become much stronger. He says investors should check it daily, with the 4.5%-4.7% area currently acting as an uncomfortable risk zone.
US10Y WATCH
Oil capped near $85 until November
He expects oil to stay near $85 and not spike much until after the November midterm elections because the US has little incentive to push rates and oil higher before the vote. After the election, refilling the depleted US Strategic Petroleum Reserve should add renewed upward pressure on oil.
WTI WATCH
Samsung, SK hynix valuations still compelling
Samsung Electronics and SK hynix valuations are still at cheap post-2020 levels, so he views this as a place to buy rather than sell. He adds that rate fear looks overdone because if it were truly driving a broad growth sell-off, biotech and other growth names would also be sold aggressively, but they are holding up while DRAM spot prices remain firm.
005930.KS LONG
000660.KS LONG
Strong Q2 sectors broadening market gains
After the July volatility washout, market participation is broadening beyond Samsung Electronics and SK hynix into sectors that reported strong second-quarter earnings: defense via Hanwha Aerospace, shipbuilding, and securities including Mirae Asset Securities. He says these areas were dragged down with the market and should be considered for H2 positioning.
012450.KS LONG
006800.KS LONG
XLI LONG
Cosmetics exporters trade on export data
Cosmetics exporters such as APR, Silicon2, and D'Alba Global tend to rally when monthly export data confirm strong overseas sales. He sees them as a short-term swing trading opportunity based on the export figures.
APR LONG
Silicon2 LONG
D'Alba Global LONG
GC Genome has liquid biopsy catalysts
GC Genome is Korea's NIFTY prenatal screening leader with an estimated 35% market share, profitable operations, and a strong cash position relative to its market cap. Catalysts include possible Japan Ministry of Health approval in September, US colorectal cancer screening clinical results by September-October and potential FDA submission in December. Global peers Guardant Health and Natera show the market opportunity, and Stanley Druckenmiller has a large position in Natera.
340450.KQ WATCH
JETEMA toxin export catalysts unfolding
JETEMA is using its filler export cash flow across 80 countries to fund a botulinum toxin turnaround. Thailand approved its toxin in July and first export sales are expected from September; Turkey approval is expected this year; Brazil's GMP inspection passed; and a 10-year China contract with Huadong Aesthetics worth around 500bn won has had approval documents submitted, giving upside in a large under-penetrated Chinese toxin market.
216080.KQ WATCH
Food exporters offer defensive export growth
Samyang Foods and Nongshim are not purely domestic consumer staples but export growth stocks. They have shown defensive behavior during volatility and have a near-term catalyst from the August 1-20 export data release expected around August 21.
003230.KS LONG
004370.KS LONG
HIGH
01:04
Aug 19
Aug 19
009150.KS
6981.T 1ST
6976.T 1ST
YAGEO 1ST
007660.KS 1ST
▾
HIGH
Samsung Electro-Mechanics remains top pick with upside.
Despite the sharp July selloff and a 14% drop after second-quarter earnings, Kim keeps Samsung Electro-Mechanics as her top pick with a KRW 300,000 target. She argues H2 2025 and 2026 earnings estimates can still be raised because MLCC and substrate conditions are stronger than expected, so the target-price gap reflects temporary supply/demand pressure rather than fundamental damage; once ETF and institutional selling finishes, the stock has significant rebound potential.
009150.KS LONG
MLCC shortage and price hikes are accelerating.
The global MLCC market is entering a genuine supply shortage. Murata and Samsung Electro-Mechanics are already near full utilization, and even Taiyo Yuden is moving above 90% utilization in H2 as AI-server demand pulls in lower-entry-barrier suppliers such as Yageo. Because capacity is shifting to high-priced AI-server MLCCs, lower-priced IT/mobile/PC MLCCs are tightening first; actual price increases started in late June, and the same AI-server 1005/47 microfarad product priced in LTAs rose more than 20% between May and July, supporting steeper price hikes into 2026.
6981.T LONG
6976.T LONG
YAGEO LONG
Korean substrate makers face multi-year shortage.
Korean substrate makers are in a multi-year supply shortage. Order backlogs have jumped sharply across package substrate and mainboard names, while larger AI semiconductors, rising layer counts, more complex processes, and lower yields consume capacity faster than aggressive capex can add supply. This drives simultaneous volume, price, and mix improvement. Substrate makers are also signing 3-5 year LTAs and funding equipment with customer prepayments, which makes the cycle less risky than past downturns.
007660.KS LONG
353200.KS LONG
356860.KQ LONG
222800.KQ LONG
HIGH
01:03
Aug 19
Aug 19
688836.SS
ROBO 1ST
005380.KS
ROBT
OUST 1ST
▾
HIGH
Unitree IPO likely surges after listing.
Unitree Robotics is listing in China today and is expected to surge after listing. Lee points to the recently released humanoid prototype that jumps 2 meters vertically and runs 100 meters in about 7.9 seconds, and to the robot Olympics opening in China today, arguing the company timed the IPO to maximize attention and stock momentum.
688836.SS LONG
Boston Dynamics may source Korean parts.
Boston Dynamics has been evaluating domestic Korean component suppliers for months, so robot parts stocks should have rallied today but were dragged down by the weak market. Lee sees the long-term physical AI robot direction as intact and views this as a supplier-demand story.
ROBO LONG
Hyundai Motor is a long-term robot leader.
Hyundai Motor is a portfolio core for robotics because its direction is still right: second-quarter earnings marked a low, the third quarter is turning, and this gives the stock downside rigidity. It owns Boston Dynamics, whose Atlas has converted from hydraulic to electric actuation and already uses Hyundai Mobis parts, so there is little technology concern. Long-term upside will come when physical AI performance is demonstrated, and the current correction is an opportunity to accumulate.
005380.KS LONG
CES could reignite robotics sector momentum.
Lee expects next CES to be a major catalyst for robotics because companies are withholding prototype and pilot AI performance reveals, likely to accumulate surprises and show everything at once. Last year's CES ignited robot expectations and steep stock gains, so he is watching for a repeat setup.
ROBT WATCH
Ouster benefits from US lidar restrictions.
US regulators are excluding Chinese humanoid robots and LiDAR suppliers such as Hesai and RoboSense, creating a reflex benefit for US LiDAR names. Ouster is Lee's preferred beneficiary: it acquired Velodyne in 2023 and StereoLabs in February this year, combining LiDAR and 3D-camera software with a large customer base, enabling smaller, cheaper sensors for robotics, industrial and smart-city applications.
OUST LONG
HIGH
00:30
Aug 19
Aug 19
064550.KQ 1ST
114840.KQ 1ST
Cosmetics 1ST
047770.KQ 1ST
465770.KS
▾
HIGH
Hair loss treatment publication drives Bioneer's surge.
Bioneer is surging on an individual catalyst regarding the publication of human application test results for its stress-induced hair loss treatment in an academic journal.
064550.KQ LONG
Cosmetics lead as defensive stocks before data.
Cosmetics stocks are showing strong defensive characteristics and upward momentum ahead of the upcoming export data release, as the sector tends to lead during defensive market environments.
114840.KQ LONG
Cosmetics LONG
237880.KQ LONG
Avoid highly volatile North Korea theme stocks.
While North Korea-related theme stocks are surging on news of scheduled dialogues, investors should avoid trading these highly volatile theme stocks in the current market, as they can quickly lead to heavy losses if timing is wrong.
047770.KQ AVOID
017800.KS AVOID
North Korea theme stocks AVOID
Hormuz geopolitical risks drive shipping stock volatility.
Shipping stocks like STX Green Logis are experiencing strong upward volatility due to ongoing geopolitical risks and narratives surrounding the Strait of Hormuz.
465770.KS WATCH
SHIPPING WATCH
Unitree IPO provides short-term boost to robotics.
The Chinese listing of Unitree could act as a short-term positive catalyst for domestic robot stocks by accelerating market expansion and commercialization expectations, although Chinese competition remains a long-term negative.
ROBO WATCH
Monitor US Treasury auction for yield pressure.
Investors need to closely monitor the US 20-year Treasury bond auction, as recent weak demand has pushed yields higher, which could further pressure the broader market.
US20Y WATCH
Buy semiconductors on dips as fundamentals hold.
The recent decline in semiconductor stocks is driven by macro variables like interest rates and geopolitics, not deteriorating fundamentals. Since AI and hyperscaler investment narratives remain strong, the sector is poised for a rapid rebound once macro headwinds subside, making it a buying opportunity on dips.
005930.KS LONG
000660.KS LONG
SMH LONG
US howitzer project news drives Hanwha Aerospace.
Hanwha Aerospace is showing strong upward momentum as the leading defense stock, driven by news of a potential sole selection for a massive 30 trillion won US self-propelled howitzer project, following a recent US rocket contract.
012450.KS LONG
HIGH
00:12
Aug 19
Aug 19
EWY
000660.KS
012450.KS FLIP
079550.KS FLIP
272210.KS FLIP
▾
HIGH
Use the market correction to buy relatively stronger stocks.
The KOSPI is currently trading in a box range, and the recent market drop is a test of support levels rather than a breakdown of the previous major low. Investors should use this correction to upgrade their portfolios by selling stocks that failed to recover to their late-July levels and buying stocks that previously broke above those levels and are now pulling back.
EWY LONG
Foreign long-term capital is accumulating Korean memory makers.
Despite the broader weakness in the semiconductor sector driven by AI capex and interest rate concerns, foreign investors are consistently buying Samsung Electronics and SK hynix during market dips, which suggests an inflow of long-term investment capital into these memory makers.
000660.KS LONG
005930.KS LONG
Avoid chasing defense stocks on geopolitical noise.
Defense stocks like Hanwha Aerospace, LIG Nex1, and Hanwha Systems are rising due to Middle East geopolitical tensions. However, it is unlikely that the situation will escalate into a physical war before the US election, and actions will likely be limited to economic sanctions, making it risky to chase this theme.
012450.KS AVOID
079550.KS AVOID
272210.KS AVOID
Celltrion acts as a strong defensive alternative to semiconductors.
Celltrion is exhibiting an inverse correlation with the semiconductor sector, rising when semiconductors fall. It is currently showing relatively strong price action and serves as a good defensive alternative during periods of semiconductor weakness.
068270.KS LONG
HIGH
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