"This time is different from July" Interest rates shake the market... What is the strategy for the second half? | Park Byeong-chang, MP Partners CEO

Summary

The video discusses the recent sharp decline in the US and Korean stock markets, primarily driven by rising US Treasury yields and concerns over AI capital expenditures. Park Byeong-chang advises investors not to panic, noting that the KOSPI is testing support levels within a box range, and recommends upgrading portfolios by buying stocks that showed strong relative strength during the recent rebound.

• US semiconductor stocks fell sharply due to rising interest rates increasing borrowing costs for AI hyperscalers.
• The Bank of Japan's potential rate hikes are raising concerns about the unwinding of the Yen carry trade.
• Foreign long-term capital continues to accumulate Korean memory semiconductor stocks like Samsung Electronics and SK hynix on dips.
• Defense stocks are rising on Middle East tensions, but a physical war escalation is seen as unlikely before the US election.
• Investors are advised to sell underperforming stocks and buy those that exceeded their late-July highs during market corrections.
• Celltrion and certain defensive sectors are showing inverse correlation to semiconductors, acting as safe havens.