Supply and Demand Tangle' So Bad Earnings Don't Matter, How Long Will It Last? | Lee Geon-gyu, CEO of Renaissance Asset Management [Double Up]

Summary

Renaissance Asset Management CEO Lee Geon-gyu explains the July volatility driven by foreign TRS liquidation and hedge fund trouble, then makes a strong case for buying Samsung Electronics and SK hynix on dips, citing an AI‑fueled memory supply shortage that runs through 2028 and dismissing China’s competitive noise as premature. Vincent briefly adds a bullish August KOSPI call.

• July sell-off amplified by China TRS forced liquidation and hedge fund unwind.
• Cloud hyperscaler profits and raised capex guidance reinforce AI demand for memory.
• Supply shortage in HBM and DDR5 expected to deepen into 2027‑2028.
• China’s CXMT and DUV litho advances lack near‑term competitiveness in high‑end memory.
• Every dip in Samsung Electronics and SK hynix is a long‑term buying opportunity.
• Semiconductor sector valuation still cheap with strongest earnings momentum.
• Vincent’s brief August outlook: KOSPI up.