Worried semiconductor prices will rise further, major countries won't stand by" | Chesley Investment Advisory Executive Director Park Se-ik [Womae Shinbak / 26.07.20.Mon]

Summary

Park Se-ik reviews market conditions, highlighting a sharp Won strengthening as a bullish signal for KOSPI, and advises holding semiconductor stocks despite warnings from SK Group's chairman about excessive chip prices, citing an AI-driven supply shortage that will persist. He also discusses China's AI and robotics advances, leverage ETF risks, and maintains a long-term bullish stance on Korean equities.

• Korean Won posted the largest drop among G20 currencies in July, a historically bullish signal for KOSPI
• Park expects KOSPI to recover from near 6,800 to 7,500-8,500 in coming months and is adding positions
• SK Group Chairman Chey Tae-won warns abnormally high memory prices could invite geopolitical pressure and new entrants
• Despite the warning, Chey sees demand-supply gap widening, with AI memory demand up 60-100% next year
• Park advises holding Samsung Electronics and SK hynix through the volatility, as supply shortage drives earnings
• China showcased massive AI and robotics capabilities at WAIC, raising concerns about Korea's position in physical AI
• Single-stock leverage ETFs on Samsung and SK hynix amassed over 12 trillion won, exacerbating market swings
• US officials express alarm over China's AI gap and shipbuilding dominance, but no direct Korean sector call is made