Is There Another Catalyst to Lift SK Hynix? Choi Tae-won's "Don't Buy or Sell" Assurance | Chesley Investment Advisory Executive Director Park Se-ik [Womae Shinbak / 26.08.21.Fri]

Summary

Park Se-ik reviews major market articles, led by SK Hynix's historic 40 trillion won buyback and shareholder return shift as a signal that Korean cyclicals can be held rather than traded. He also flags Moderna's personalized mRNA cancer vaccine phase 3 data as a watch item and sees Bitcoin's uptrend as intact despite higher yields. Additional topics include Korean EV competitiveness, US debt and buyback uncertainty, and KOSDAQ weakness.

• SK Hynix unveiled a 40 trillion won buyback to be cancelled and raised shareholder payout to over 50% of FCF, changing its hold-versus-trade calculus.
• Park sees the SK Hynix move as the start of a broader Korean shareholder return shift that supports KOSPI.
• Moderna and MSD reported positive phase 3 personalized mRNA cancer vaccine data; Park wants to review Moderna's market cap.
• Bitcoin continued rising despite rebounding Treasury yields, which Park views as an intact risk-asset uptrend.
• KOSPI turned positive on Samsung Electronics and Hynix strength, while KOSDAQ fell on rate-sensitive biotech weakness.
• US Treasury buyback expansion lifted risk assets, but US debt above 40 trillion dollars and Fed minutes created uncertainty.