Afternoon Broadcast: Domestic stock market caught by foreigners' record-breaking selling and rebalancing that even the semiconductor tailwind couldn't stop – What is the market direction in the second half?

Summary

The broadcast covers the last trading day of June and the first half of 2026. Panelists discuss heavy foreign selling due to rebalancing, semiconductor resilience, weak secondary batteries, and macro outlook. Key calls: buy Samsung Electronics, SK Hynix, and Samsung Electro-Mechanics on dips; favor semiconductor equipment stocks; avoid KOSDAQ and EcoPro BM; short oil; and watch aerospace name HVM. The overall tone is cautiously bullish on Korean large-cap tech for July.

• KOSPI rose 0.97%, KOSDAQ fell 0.48% with foreign selling concentrated in KOSPI due to record rebalancing
• Semiconductor stocks (Samsung Electronics, SK Hynix) rebounded strongly on AI demand and healthy corrections
• Samsung Electro-Mechanics surged on new MLCC contract and AI server demand, seen as a top H2 pick
• Semiconductor equipment stocks (especially front-end) are breaking out to new highs on volume, leading KOSDAQ recovery
• EcoPro BM announced a dilutive 1.2 tr won rights issue, crushing secondary battery sentiment and dragging KOSDAQ
• Macro analysis expects oil prices to fall on supply increases, easing inflation and reducing the need for further rate hikes
• Institutional flow analysis argues foreign selling is mechanical rebalancing, not fundamental; Korean pension dynamics support July stability
• Strategists explicitly advise avoiding KOSDAQ index and weak sectors, while keeping focus on large-cap semiconductors and equipment