Institutional supply-demand and trading volume align... Potential short-term KOSDAQ rally before Chuseok | Cha Young-joo, Director of Wise Economic Research Institute

Summary

Cha Young-joo argues investors are too focused on KOSPI large caps and are missing a short-term KOSDAQ rally before Chuseok, supported by improving volume and institutional buying. He sees KOSPI as rangebound before macro events but likely higher over the medium term. He identifies momentum setups in KOSDAQ names such as Robotis, DB HiTek, and semiconductor equipment and materials, and positions power infrastructure as a longer-term accumulation theme.

• KOSPI remains rangebound on FOMC and BOJ uncertainty and foreign selling, but the medium-term view is positive.
• KOSDAQ is showing a rounded bottom and volume expansion, with a short-term rally before Chuseok expected.
• Institutions bought KOSDAQ while foreigners sold.
• Samsung Electronics and SK hynix holders are told not to panic if they avoid leverage, and to accumulate on down candles.
• KOSDAQ momentum names highlighted include Robotis, DB HiTek, and a Doosan Fuel Cell pullback setup.
• Top KOSDAQ semiconductor equipment and materials names flagged include Jusung Engineering, Wonik IPS, Leeno Industrial, and HPSP.
• Construction names such as Daewoo Engineering & Construction, Hyundai Engineering & Construction, and GS Engineering & Construction are showing positive momentum.
• Power infrastructure is viewed as a longer-term accumulation theme on AI power demand and order backlogs.