I trusted the double bottom, so why is it breaking the low again? How to avoid being shaken out and identify the real leading stocks | Myeong Min-jun, Park Se-mi, Lee Ji-hwan

Summary

Lee Ji-hwan of Aurora Investor Advisory reviews a volatile session where the KOSPI gave up early gains and discusses whether the pullback is just a shakeout after a three-day rebound. He emphasizes the shift from retail momentum buying to foreign medium/long-term fundamental buying and advises following that flow into semiconductor and large-cap leaders. He also outlines narrow H2 sector leadership, including power equipment, cosmetics/consumer discretionary, and pharma/nuclear, while cautioning against KOSDAQ and overreacting to event-driven supply noise.

• View today's intraday reversal as a supply shakeout rather than an urgent new macro breakdown unless fresh negative Trump or rate news appears.
• Foreign flow is split: short-term momentum funds sold, but medium/long-term money continued into Samsung Electronics and SK hynix.
• Semiconductors are expected to keep supply concentration when markets are uncertain.
• H2 leadership is seen narrowing to fundamentals-driven KOSPI large-cap leaders, not broad rotation.
• KOSDAQ's rebound is labeled technical only, so avoid chasing it as new leadership.
• Additional sector watchlist includes Korean power equipment, cosmetics/consumer discretionary, and pharma/nuclear.
• Memory-chip re-rating depends on long-term contracts and sustained operating margins.