Urgent Market Update: Credit shrank by 32 trillion, but… use cash when 'this signal' appears, if the bear continues unknown negatives may lurk

Summary

PB Team Leader Hwang Yu-hyeon gives an urgent market update. The AI investment news had no lasting impact, and the Korean market remains in a short-term bear phase with earnings and macro uncertainties. He advises holding cash and waiting for clear volume surge signals in SK Hynix before buying. Defense stocks are struggling, CXMT looks overvalued, and forced selling from credit and leveraged ETFs is easing. Survival and patience are key.

• The weekend AI Summit's 1,400 trillion won news was largely priced in and failed to lift the market.
• KOSPI/KOSDAQ are in a short-term bear market, down roughly 30% from highs.
• Credit balances have shrunk by 6 trillion won, and leveraged ETF forced selling is nearly over, reducing downside pressure.
• Defense stocks are underperforming, failing to gain on conflict escalation and plunging on ceasefire hopes.
• CXMT's 535% surge on debut and extreme valuation (P/E >20x vs single-digit peers) raise doubts about its sustainability.
• The guest recommends holding cash, avoiding aggressive trades, and waiting for volume spikes in SK Hynix to signal a buying opportunity.
• Trading volume hit a multi-month low, reflecting a market that is hunkering down.