June 4, 2024 Afternoon Broadcast Full View: Is KOSDAQ Rotating? So-Bu-Jang Surges, Jensen Huang Visit D-1 Busy Busy

Summary

The June 4 broadcast covered a broad market rotation with KOSPI falling 1.8% and KOSDAQ rising 2.3%, led by semiconductor equipment stocks on SK Hynix’s capex expansion and government policy hopes. Jensen Huang’s upcoming visit stirred volatility, while macro concerns over FX and interest rates persisted. Later segments discussed space ETFs for the SpaceX IPO and portfolio strategy emphasizing semiconductors, shipbuilding, and financials.

• KOSPI declined 1.8% while KOSDAQ gained 2.3%, a rare divergence driven by semiconductor equipment (So-Bu-Jang) stocks.
• SK Hynix announced plans to double wafer capacity by 2030, boosting front-end equipment makers like Wonik IPS, TES, and Eugene Tech.
• Jensen Huang’s D-1 visit caused profit-taking in LG Electronics, Naver, and robot stocks after previous surges.
• Won/JPY FX rate spiked to 1,540, raising macro caution among experts who see a potential 10% KOSPI correction in June.
• SpaceX IPO on June 12 was highlighted as a major catalyst for US and Korean space ETFs due to passive index rebalancing.
• Lee Jae-kyu recommended staying overweight semiconductors (Samsung, SK Hynix) and selectively adding shipbuilding and financials.
• Retail flows have shifted from broad semiconductor ETFs to single-stock leveraged ETFs, indicating strong conviction in top memory names.
• The MSCI watchlist upgrade for Korea remained a key medium-term positive factor for foreign inflows.