HBM Price Hike! How Much Will Samsung Electronics and SK Hynix's Earnings Increase? / National Pension Service on the Move! Will July Stock Market Volatility Begin? | Director Lee Ju-yeon

[#RealMarket] HBM Price Hike! How Much Will Samsung Electronics and SK Hynix's Earnings Increase? / National Pension Service Is Moving! Will July Stock Market Volatility Begin? | Director Lee Ju-yeon

Watch on YouTube ↗ | June 20, 2026 at 11:00 | 29:50 | 815 Money Talk (815머니톡)

Speakers

Lee Ju-hyeon — Director, Xangle

Summary

Director Lee Ju-yeon reviews the Korean equity market ahead of the last week of June. She discusses near-term headwinds from the National Pension Service's forced rebalancing, the pending SK Hynix ADR decision, and Micron's high-bar earnings, while maintaining a constructive medium-term view. She highlights sector-level opportunities in MLCC, semiconductor equipment, power infrastructure, shipbuilding, robotics/auto parts, renewables, and biotech, with specific stock ideas and an emphasis on buying dips rather than chasing rallies.

Explains why the KOSPI stalled after hitting 9,400 and notes the historical pattern of corrections at 1,000-point milestones.
Flags the SEC decision on SK Hynix ADR listing next week as a possible sell-the-news event that has already driven recent strength.
Warns that Micron earnings have very high expectations and that the stock has frequently sold off after reporting.
Details the NPS forced rebalancing starting July, with 55 trillion won of mechanical selling, hitting Samsung Electronics and SK Hynix hardest.
Recommends MLCC/substrate and semiconductor equipment (especially HBM4-related) as continuing themes even if large-cap semis pause.
Points to power infrastructure (LS Electric, Hyosung Heavy), construction/nuclear (Samsung E&A, Samsung C&T), and shipbuilding (HD Hyundai Heavy Industries top pick) as strong earnings and order momentum plays.
Sees robotics/auto parts as the next big theme after semis, driven by Hyundai's Boston Dynamics ownership and US robot factory plans.
Advocates buying renewables (wind/solar) and selected biotech names on dips ahead of event catalysts in H2.

Ideas

Lee Ju-hyeon Director, Xangle 9:44

NPS selling to pressure semis then dip-buy

The National Pension Service will begin forced rebalancing in July, selling an estimated 55 trillion won of domestic stocks. Samsung Electronics and SK Hynix, being the heaviest-weighted holdings in the NPS portfolio, will bear the brunt of this mechanical supply. This creates near-term headwinds and a likely dip. However, if the underlying semiconductor earnings and guidance remain robust, the selling will be absorbed and the pullback will become a buying opportunity.

Lee Ju-hyeon Director, Xangle 14:33

MLCC and substrates still have momentum

MLCC and substrate stocks are riding strong momentum from the semiconductor cycle. Even if large-cap memory names like Samsung Electronics and SK Hynix take a breather, these component plays can continue outperforming because demand for MLCCs, capacitor, and PCB substrates is broad-based and structural. The group remains a core holding in the current semiconductor upcycle.

Lee Ju-hyeon Director, Xangle 16:06

Equipment has unpriced H2 momentum

Semiconductor equipment makers, especially those linked to HBM4 (like Hanmi Semiconductor, TES, VM) and front-end (like Wonik IPS), have additional upside because second-half order and earnings momentum is not yet fully priced in. The recent ETF-driven rebalancing is complete, and the underlying catalyst of new HBM capacity expansion remains intact. A semiconductor equipment ETF offers a convenient one-click way to play the theme.

Lee Ju-hyeon Director, Xangle 18:07

Samsung construction plays for nuclear/infra

Samsung E&A and Samsung C&T are beneficiaries of Samsung Group's large-scale investment cycle and can combine momentum from overseas nuclear projects, global infrastructure investment, and domestic redevelopment. They offer a way to capture multiple construction and nuclear-related catalysts through established tier-1 names.

Lee Ju-hyeon Director, Xangle 18:33

Power infra orders are surging

Power infrastructure and heavy electrical equipment names have very strong order momentum and high 2Q earnings expectations. LS Electric and Hyosung Heavy Industries are the two standouts where order book leverage is the greatest, making them the best concentrated plays on the power infrastructure build-out theme.

Lee Ju-hyeon Director, Xangle 18:42

Shipbuilders in strong multi-year upcycle

Shipbuilders are entering a strong 2Q earnings season with additional catalysts: Trump's direct inquiry about faster US navy shipbuilding, a pending Canadian submarine order award where Korea is favored, and a structural upcycle possibly extending to 2029. High exchange rates boost won-denominated margins. HD Hyundai Heavy Industries is the top pick because it also benefits from AI data center demand, but Hanwha Ocean and Samsung Heavy Industries also work. The efficient approach is to buy on pullbacks, not chase rallies.

Lee Ju-hyeon Director, Xangle 23:08

Robots/auto parts rally on Boston Dynamics

Auto parts and robotics stocks are poised to benefit from Hyundai Motor's full ownership of Boston Dynamics and the August start of robot factories in the US. Global tech firms are eyeing strategic investments in Boston Dynamics, potentially lifting its valuation. The broader robotics theme has multiple catalysts in the second half, making pullbacks in Hyundai Motor, Kia, Hyundai Mobis, HL Mando, and SL attractive entry points.

Lee Ju-hyeon Director, Xangle 25:00

Buy renewables on dips for H2

Wind and renewable energy stocks such as CS Wind, SK Ocean Plant, Hana Solution, and OCI Holdings are favorable for the second half due to mid-term election policy tailwinds. The approach should be to accumulate on dips when the stocks trade near the lower end of their ranges. Hana Solution carries a near-term overhang from a July rights offering but remains part of the theme.

Lee Ju-hyeon Director, Xangle 26:32

Biotech catalysts at BIO USA

With the BIO USA conference starting next week, specific biotech names are in focus and could see positive momentum from deal or data announcements. The speaker highlights OliX, DND Pharmatech, Alteogen, and ABL Bio as the most relevant plays to watch ahead of the event.

Lee Ju-hyeon Director, Xangle 28:02

MSCI watchlist inclusion would boost KOSPI

The MSCI annual market classification review next week could add Korea to the watchlist for potential upgrade. If that happens, it would be a major bullish catalyst for the KOSPI market. While binary, the setup is important enough to monitor closely.

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815 Money Talk (815머니톡) · Jun 20

This 815 Money Talk (815머니톡) video, published June 20, 2026, features Lee Ju-hyeon discussing 000660.KS, 005930.KS, 009150.KS, 004360.KQ, 007810.KS, 222800.KQ, 353200.KQ, 042700.KS, 032640.KQ, VM, KODEX Semiconductor Equipment ETF, 097520.KS, 028260.KS, 298040.KS, 010120.KS, 042660.KS, 329180.KS, 010140.KS, 005380.KS, 000270.KS, 005850.KS, 012330.KS, 204320.KS, 075980.KQ, 112610.KQ, 456010.KS, 254120.KQ, 097800.KQ, 226950.KQ, 196170.KQ, 298380.KQ, EWY. 10 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Lee Ju-hyeon · Tickers: 000660.KS, 005930.KS, 009150.KS, 004360.KQ, 007810.KS, 222800.KQ, 353200.KQ, 042700.KS, 032640.KQ, VM, KODEX Semiconductor Equipment ETF, 097520.KS, 028260.KS, 298040.KS, 010120.KS, 042660.KS, 329180.KS, 010140.KS, 005380.KS, 000270.KS, 005850.KS, 012330.KS, 204320.KS, 075980.KQ, 112610.KQ, 456010.KS, 254120.KQ, 097800.KQ, 226950.KQ, 196170.KQ, 298380.KQ, EWY