KOSDAQ strong in the morning, weak in the afternoon.. Why does it keep falling after 10 AM? / This is how the Korean stock market will flow from now on.

Summary

Hwang Yuhyun reviews a session where KOSPI surged early while KOSDAQ opened strong but faded after 10 a.m. He explains that ETF-driven flows dominate, making KOSDAQ semiconductor equipment stocks the main opportunity, while recently hot power equipment names like LS Electric are setting up for a bounce. He urges caution on SK hynix near resistance, sees rotating plays in consumer, tourism, and shipbuilding stocks, and warns against excessive leverage in the current choppy market.

• KOSPI rallied 5.2% behind large-cap buying, but KOSDAQ gave back early gains due to profit-taking linked to Hong Kong/China market opening.
• ETF inclusion now dictates KOSDAQ stock selection; stocks outside ETFs struggle to attract demand, pushing flows repeatedly toward semiconductor equipment and materials (소부장).
• The speaker recommends KODEX AI Semiconductor Core Equipment ETF and upward-trending 소부장 stocks as the core KOSDAQ play.
• LS Electric has pulled back over 30% from its high on solid earnings; now within 30% of the high with rising volume, offering a potential entry.
• SK hynix at 240,000 won is viewed as near-term resistance where profit-taking may cap upside, making new purchases unattractive.
• Consumer/entertainment names (APR, Samyang Foods, HYBE) are bottoming with good earnings and provide a rotation alternative ahead of earnings season.
• K-wave tourism inflows support Paradise and Lotte Tour Development as low-cost accumulation candidates.
• Shipbuilding stocks (HD Hyundai Heavy, Hanwha Ocean, Samsung Heavy) are building bases and could break to new highs, warranting a watch for breakout.