Shin Jungho

When the semiconductor rally takes a breather and the market's extreme concentration eases, funds are likely to rotate into laggard sectors that have clear earnings momentum and can deliver shareholder returns. Financial stocks stand out because they are performing well, are able to return capital to shareholders even in a high-rate environment, and offer defensive characteristics, making them the most logical beneficiary of the rotation.

Crude oil has dropped quickly to $70 on ceasefire hopes, but the reopened Hormuz shipping route still faces steep insurance costs, damaged production facilities are not yet restored, and the US has rapidly depleted its strategic reserve, which now needs replenishment. These factors create demand that should push oil back up toward the $80 level.