After the crash, a surge, insane volatility – Money waiting for the next crash: The July stock market flows like this | CEO Kim Dong-yeop

Summary

CEO Kim Dong-yeop reviews a day of extreme KOSPI volatility driven by leveraged overseas products and AI demand fears that quickly reversed. He identifies key July themes including resilient AI semiconductor demand, power infrastructure megacycles, and rising trading volumes benefiting brokers, while noting KOSDAQ's structural weakness. He also highlights thematic opportunities in modular homes, cosmetics, defense/shipbuilding, and tourism-related sectors.

• KOSPI whipsawed between 2,730 and 2,810 with SK Hynix dropping 8% then surging 10%.
• Foreign leveraged products (150x KOSPI, 50x single stocks) amplify local market swings.
• AI memory thesis intact: DRAM price hikes, SK Hynix uncapped long-term contracts override demand scare.
• Securities stocks rallied on surging trading volumes; power infrastructure stocks remain in a global supercycle.
• KOSDAQ suffers from lack of anchor stocks and delayed policy measures, leading to relative underperformance.
• New thematic plays include modular AI homes (LG Electronics, Samsung C&T), cosmetics mask packs, and defense/shipbuilding on upcoming catalysts.
• Inbound tourism and FX tailwinds support department stores, hotels and casinos in H2.