Weak Stocks Have Already Collapsed…How to Distinguish Leading Stocks to Hold Until the End in This Correction | Myung Min-jun, Park Ga-young, Yoo Chang-hee

Summary

Yoo Chang-hee, CEO, discusses the September Korean stock market correction and explains why he does not expect a July-style crash. He lays out a chart-based framework to separate already-broken stocks such as Hyundai Motor and Samsung Heavy Industries from sideways leaders like SK Hynix and Samsung Electronics and stronger leaders like Samsung SDI and Shinhan Financial. He remains constructive on semiconductors and a mid-September KOSPI/KOSDAQ rebound, while warning that heavy foreign selling requires short-term risk management and that defensive rotation into banks and food stocks is unattractive.

• Korean market fell sharply with KOSPI down 4% and SK Hynix weakening; Yoo argues this is not a July-style crash.
• Yoo sees next week's FOMC rate-outlook clarity and mid-September event pass as a potential turning point for a KOSPI rebound.
• Technical framework: sell already-broken Hyundai Motor and Samsung Heavy first, hold sideways SK Hynix and Samsung Electronics, and favor stronger Samsung SDI and Shinhan Financial.
• Supply-demand signals, including 2.4 trillion won of foreign KOSPI selling, futures selling, and put buying, justify trimming 10-15% near term.
• Semiconductor positives include the AI Infrastructure Summit, Dell orders, Broadcom and Micron catalysts, record August chip exports, and rising memory prices.
• Rotating into bank, insurance, or defensive food stocks is viewed as unattractive; cash is preferred over crowded defensives.
• Key risk trigger is the US 10-year Treasury yield at 5%; Friday may be weaker ahead of the Monday US holiday.