February 9 Market Close: Thanks, Jensen Huang~ Is a Pre-Holiday Decline Old News? KOSPI's Fireworks Rally Begins! | Hong Sun-ae, Lee Chang-dae, Kim Jang-yeol
[2월 9일 마감시황] 젠슨황 고마워요~명절 전 하락은 옛말? 코스피 불꽃랠리 시작! | 홍선애, 이창대, 김장열 [클로징벨 라이브]
Speakers
Kim Jang-yeol
— Reporter, The Bell
Lee Chang-dae
— CEO
Summary
Closing Bell Live discussed the sharp February 9 rebound in KOSPI and KOSDAQ, driven by semiconductor strength, Kosdaq policy support, and brokerage stocks. Kim Jang-yeol highlighted AI/memory, HBM4, brokerage, power equipment, space, nuclear, and MLCC opportunities, while Lee Chang-dae focused on cosmetics, pharma/biotech, Celltrion, and medical beauty. The hosts framed liquidity and policy as key supports but advised buying on dips rather than chasing after the rally.
- KOSPI and KOSDAQ rallied sharply, led by semiconductors, brokerages, and Kosdaq policy beneficiaries.
- Kim Jang-yeol said Jensen Huang's comments separated AI hardware from software disruption fears and supported memory pricing.
- Samsung HBM4 initial production and Micron share concerns were debated as relative catalysts for Samsung and SK hynix.
- Lee Chang-dae favored export-driven cosmetics, food/consumer, and pharma/biotech names with improving earnings.
- Specific stock ideas included Amorepacific, APR, Dalba Global, Celltrion, Sam Chun Dang Pharm, and LNC Bio.
- Kim Jang-yeol highlighted brokerage, Hanwha Solutions, HD Hyundai Electric, Intellian, Hyundai E&C, and Samsung Electro-Mechanics.
- Speakers advised maintaining liquidity-driven exposure but avoiding chasing highs after the rebound.
- Both guests said systemic fear is unlikely while policy and liquidity remain abundant.
Ideas
Korean export consumer stocks offer defensiveness.
Lee favored companies with solid earnings and export-based growth in a choppy market, naming cosmetics, consumer, and food/beverage as areas likely to outperform. He argued foreign and institutional demand should favor these exporters and that cosmetics OEM/ODM names could follow brand leaders as overseas sales grow.
Pharma laggards can catch up on earnings.
Lee said pharma/biotech is split between strong trend themes such as obesity, ADC, and platform companies and laggards with improving earnings. The laggards that already have good earnings and are being accumulated by foreign and institutional investors should be watched closely into the earnings season.
Memory upcycle supports Samsung and SK hynix.
Kim argued Jensen Huang's comments separated AI hardware demand from software disruption fears and emphasized that software will use AI more deeply; Nvidia/Broadcom and memory names rose together. Memory makers are moving toward shorter contracts with post-settlement pricing, which signals memory prices can still rise, while HBM4 initial production and long AI infrastructure capex support Samsung Electronics and SK hynix; Micron benefits from pricing but faces HBM4 share uncertainty.
Memory upcycle supports Samsung and SK hynix.
Kim argued Jensen Huang's comments separated AI hardware demand from software disruption fears and emphasized that software will use AI more deeply; Nvidia/Broadcom and memory names rose together. Memory makers are moving toward shorter contracts with post-settlement pricing, which signals memory prices can still rise, while HBM4 initial production and long AI infrastructure capex support Samsung Electronics and SK hynix; Micron benefits from pricing but faces HBM4 share uncertainty.
Kosdaq 150 benefits from policy support.
Lee said the government's Kosdaq revitalization plan is a major catalyst: bad companies will be delisted faster, good companies supported, and STO/token securities promoted. He recommended focusing on KOSDAQ 150 and top-cap names with solid earnings, especially in semiconductors, pharma/biotech, robots, and secondary batteries, because policy-driven liquidity can lift the index.
Amorepacific bottom recovery can continue.
Lee said Amorepacific lost the top beauty market-cap spot to APR but remains a competitive, substantial company. Industry conditions are improving, 25Q4 results show sales and margin recovery, valuation is not stretched, and foreign/institutional buying suggests the bottom recovery is not over.
APR remains beauty sector leader.
Lee argued APR has taken the beauty leadership with a much better margin structure, around 20-25% operating and net margins, and remains more attractive than Amorepacific on growth and valuation. He cautioned the stock has already risen a lot and may need a digestive pause, but he still saw it as the sector leader.
Dalba Global earnings recovery drives rebound.
Lee said Dalba Global is rebounding from a bottom as export sales remain strong. The prior Q3 miss was mainly due to marketing spending ahead of year-end rather than structural damage, and he expected Q4 results to show recovery.
Hanwha Solutions rallies on solar momentum.
Kim pointed to Hanwha Solutions as a solar theme that has started moving as analysts capitulate and raise targets; after two days of heavy volume in a liquidity-rich market, he argued investors should respect the momentum rather than wait for conservative analyst targets, with China/solar policy catalysts supporting the move.
Korean brokerage stocks benefit from rising volume.
Kim was especially attentive to brokerage stocks because Kosdaq activation policy and a possible KOSPI breakout should increase trading volume; January volume was already up 80%, and if government liquidity support continues, transaction activity should stay strong, making brokerages one of the most elastic sectors outside semiconductors.
HD Hyundai Electric offers patient upside.
Kim said HD Hyundai Electric's recent report was strong across nearly all metrics, with a 1.1 million won target based on 24x 2028 earnings. The power-equipment shortage can pull forward estimates, so below 900,000 won the stock is attractive, but investors may need to wait two to three months while other sectors move first.
Intellian Technologies has more room to run.
Kim noted Intellian Technologies hit the daily limit after record results and analyst target hikes. Although the stock traded around 40x earnings, space/aerospace names can sustain such multiples, and two analyst target upgrades plus persistent volume and a roughly 1 trillion won market cap suggested the momentum could continue.
Celltrion breaks out on record earnings.
Lee said Celltrion has been consistently bought by foreigners and is now breaking out after a multi-year base. Earnings are improving, with sales above 4 trillion won and operating profit above 1 trillion won, and 2026 should be symbolic because it is the first time results surpass prior listing-era peaks; target upgrades should follow.
Alteogen needs trend reversal before new entry.
Lee said Alteogen's trend broke after a negative issue, and new entries should wait for a clear trend reversal. Although the stock is still cheap and the long-term platform potential remains, margins are expected to decline next year, so holders should consider trimming rather than fully exiting.
Sam Chun Dang Pharm offers breakout potential.
Lee said Sam Chun Dang Pharm carries higher difficulty/risk than other pharma names, but its earnings momentum and margin expansion are powerful. After a sharp January rise, a February correction or rest period would be an attractive entry point, and he expected another high breakout.
Hyundai E&C is newer nuclear play.
Kim said nuclear has a fresh catalyst through US cooperation, and within nuclear, Hyundai Engineering & Construction as a construction concept is a newer story than the old Doosan Enerbility narrative. Because investors are slower to follow that distinction, he thinks Hyundai E&C can go further.
KOSPI can rise to valuation peak.
Kim framed the Korean market as supported by abundant liquidity and policy; KOSPI at 10x earnings would be around 5,500 and the prior peak multiple of 11x would be around 6,000, so he did not want investors to sell too urgently. Still, after the rally, new money should buy on fear or sharp dips rather than chase highs.
Medical beauty demand follows obesity treatments.
Lee said the medical beauty theme is strengthening because obesity treatments cause skin laxity and boost demand for lifting and aesthetic procedures. PharmaResearch, Hugel, and Classys have already moved, and on market pullbacks he preferred beauty-related names with pharma/bio momentum and improving earnings.
LNC Bio gains on medical beauty momentum.
Lee highlighted LNC Bio as a newly emerging medical beauty/lifting name receiving foreign buying. As the obesity-treatment market remains strong and lifting demand rises, LNC Bio can gain momentum, and it is exactly the kind of beauty-plus-pharma/earnings combination he would emphasize during market corrections.
Samsung Electro-Mechanics positive but near target.
Kim said MLCC and FC-BGA data from Japan and Taiwan remain very strong; Samsung Electro-Mechanics has taken a breather after rising. A Tesla-related catalyst via Samsung Electronics' US plant and 2027 numbers could support it, but with the stock near the 350,000-360,000 won target, he advised holders to hold until 2027 numbers rather than chase new purchases.
Up Next
This 3PRO TV (삼프로TV) video, published February 09, 2026, features Lee Chang-dae, Kim Jang-yeol discussing Korean cosmetics/consumer export stocks, Korean pharma/biotech laggards, 005930.KS, 000660.KS, MU, KOSDAQ 150 Index, 090430.KS, 278470.KS, 483650.KS, 009830.KS, Korean brokerage sector, 267260.KS, 189300.KQ, 068270.KS, 196170.KQ, Sam Chun Dang Pharm, 000720.KS, EWY, 214450.KQ, 145020.KQ, 214150.KQ, 290650.KQ, 009150.KS. 20 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Lee Chang-dae, Kim Jang-yeol · Tickers: Korean cosmetics/consumer export stocks, Korean pharma/biotech laggards, 005930.KS, 000660.KS, MU, KOSDAQ 150 Index, 090430.KS, 278470.KS, 483650.KS, 009830.KS, Korean brokerage sector, 267260.KS, 189300.KQ, 068270.KS, 196170.KQ, Sam Chun Dang Pharm, 000720.KS, EWY, 214450.KQ, 145020.KQ, 214150.KQ, 290650.KQ, 009150.KS