Will KOSDAQ 'short covering' explode? Program buying, this sector will lead the full-scale rise / Be careful of volatility ahead of US CPI and option expiration date | Director Park Hyunsang

Summary

Director Park Hyun-sang breaks down weekend market developments, arguing that the worst is over for memory semiconductors after heavy hedge fund shorting, with Samsung and SK hynix offering attractive entry points. He highlights a KOSDAQ short squeeze fueled by passive program buying, and a catch-up rally beginning in semiconductor equipment stocks. Biotech is breaking out led by Alteogen, while shipbuilding, defense, and construction sectors show steady strength. He advises using dips to accumulate before upcoming US CPI and options expiry events.

• Memory chip selloff driven by global hedge fund shorting; Morgan Stanley sees attractive entry, JPMorgan highlights accelerating capex.
• Samsung and SK hynix massive shareholder return plans (up to 200 trillion won) and buyback momentum support a rebound.
• KOSDAQ experiencing a short squeeze as passive program buying forces short sellers to cover.
• Semiconductor equipment and materials stocks begin a catch-up rally after lagging memory investment news.
• Alteogen’s technical breakout ignites a broader biotech sector rally.
• Shipbuilding and defense sectors deliver steady Q3/Q4 earnings and benefit from US defense order spillover.
• Construction sector gets a new growth narrative from domestic data centers along with improving overseas orders.
• Caution advised near US CPI and options expiry, but post-event buying opportunities expected.