Will the surge continue after the US-Iran war ends? This is how the Korean stock market will flow from now on. | CEO Lee Kwon-hee

Summary

CEO Lee Kwon-hee discusses market implications of the potential US-Iran war end, the SpaceX IPO, and outlines key investment themes. He remains bullish on the semiconductor sector and KOSPI, sees department store stocks as attractive on pullbacks, and highlights Samsung and SK hynix earnings as critical catalysts.

• US stocks and the Philadelphia Semiconductor Index shrugged off the SpaceX IPO, signaling resilience.
• Philadelphia Semiconductor Index has a strong directional correlation with KOSPI, supporting further gains.
• KOSPI is expected to extend its bull market toward 9000, underpinned by low P/E and upcoming earnings.
• Department store stocks (Shinsegae, Lotte Shopping, Hyundai Department Store) benefit from foreign tourism and luxury demand, but buying on a correction is preferred.
• Samsung Electronics and SK hynix Q2 earnings in July are highlighted as a make-or-break catalyst for breaking prior highs.
• ECB and BOJ rate hikes remain background risks with limited immediate market impact.
• Restrictions on leveraged semiconductor ETFs are interpreted as a healthy sign of controlled speculation.