Trump's Interest Rate Cut Pressure vs. Fed's True Intentions! September Rate Freeze and Semiconductor Rebound Scenario | Baek In-jae, Deputy Head of Hana Securities Sales Department Financial Center

Summary

Baek In-jae argues that OpenAI's Astra release re-focuses AI demand on hardware and memory, and that the Fed will likely hold rates in September because inflation data should stay stable. He discusses Korean semiconductor earnings, operating margins, and buybacks as support for Samsung Electronics, SK hynix, and Micron, while expecting foreign inflows to support KOSPI. His overall message is to buy dips rather than fear rate news, with a longer-term memory volume story.

• OpenAI's Astra launch is interpreted as a catalyst for hardware and memory demand.
• Baek expects the Fed to hold rates in September, with CPI/PPI as key inputs.
• Samsung Electronics, SK hynix, and Micron are discussed as key memory/semiconductor beneficiaries with solid margins and earnings.
• Buybacks in Korea's top two market-cap stocks are seen as providing downside support until mid-October.
• Foreign investor inflows are viewed as potential support for the Korean market.
• The speaker sees any rate-driven equity crash as a buying opportunity and advises not to overreact to rate fears.