Korean Stock Market Atmosphere Has Completely Changed… The Real Reason for the Surge / When Will Foreigners Who Bought 6.3 Trillion in Spot and Futures Sell? | Hwang Yu-hyeon Team Leader

Summary

Shinhan Investment Corp. PB team lead Hwang Yu-hyeon reviews the OpenAI Astra-driven surge in Korean semiconductor stocks and the foreign and institutional flows behind it. He argues AI compute demand is a durable medium-term driver for the semiconductor value chain but sees near-term risk around the futures/options expiry because foreign futures buying is crowded. He advises trimming strength this week, waiting for a post-settlement pullback, and monitoring nuclear, cosmetics/food and secondary battery sector action for short-term profit-taking risks.

• OpenAI's Astra upgrade is viewed as a bigger productivity step than the original GPT release.
• Hwang expects AI compute demand to expand, supporting Korean semiconductors such as SK hynix and Samsung Electronics.
• Foreigners and institutions bought Korean spot and futures aggressively, but foreign futures positioning is now near crowded levels.
• This week's simultaneous futures/options expiry may bring volatility; the recommended tactic is to trim spikes and buy dips.
• SK hynix is near the 1.8 million won prior high, where foreign speed-control selling could appear.
• Nuclear power stocks surged on sector action and may extend, but rapid spikes could trigger profit-taking.
• The stronger won is hurting cosmetics, food and secondary battery sectors.
• Hwang suggests raising cash in September and avoiding leveraged chasing.