July Monthly Outlook: Adjustment After a Steep Rise, Reviewing July Market Outlook and Investment Strategy | Chesley Investment Advisory CEO Park Se-ik

Summary

In the July monthly outlook, Chesley Investment Advisory CEO Park Se-ik reviews June market performance—KOSPI flat, KOSDAQ entering a bear market—and lays out his investment strategy. He sees the KOSPI uptrend intact but expects short-term adjustments, recommending buying on dips near the 60-day moving average. He advises avoiding KOSDAQ, gold, and Bitcoin, while staying long Korean export stocks and rotating into shipbuilding, defense, cosmetics, and entertainment. He also flags event-driven volatility in SK hynix and uses Kiwoom Securities' weakness as a caution signal.

• June review: KOSPI ended flat after sharp swings; KOSDAQ dropped into bear market territory.
• KOSPI long-term trend remains up; 60-day moving average around 7,500 is a key buy-the-dip zone.
• KOSDAQ is decidedly bearish, with AI models recommending conservative positioning.
• Korean exporters remain attractive as the weak won boosts margins; rotation from semis to shipbuilding, defense, beauty, and entertainment sectors is expected.
• Gold and Bitcoin are viewed as overhyped and vulnerable; gold down 27%, Bitcoin down 50% from highs with mid-term election year headwinds.
• SK hynix faces near-term event-driven volatility (ADR listing, earnings) and possible Aug-Sep correction.
• Kiwoom Securities' five-month losing streak is read as a market top signal, reinforcing the need to hold cash.
• Overall strategy: keep some cash, buy sharply during corrections, and focus on export leaders.