Yen strengthens, another intraday plunge? Where is the market headed before September CPI and FOMC? | Park Byeong-chang, MP Partners CEO [Market Inside]

Watch on YouTube ↗ | September 09, 2026 at 00:12 | 44:52 | 3PRO TV (삼프로TV)

Speakers

Park Byeong-chang — Director, MP Partners

Summary

Park Byeong-chang attributes the recent intraday KOSPI plunge to yen-strength-driven carry-trade liquidation and sees oil-price pressure from Saudi Aramco attacks as another key risk. Despite these headwinds, he expects US pre-election liquidity and AI/data-center semiconductor strength to support equities, and he favors Korean nuclear and energy-infrastructure names ahead of the 18th US investment announcement. He also highlights a memory upcycle and Samsung's foundry catalyst while warning against structurally declining country exposure such as China.

Sudden yen strength caused liquidation of yen carry positions, hitting KOSPI at the same time as Nikkei fell.
Houthi attacks on Saudi Aramco pushed WTI near $94 and Brent/Dubai above $100.
US Dow weakened but Nasdaq and data-center semiconductor and optical names rallied on an AI-driven theme.
Park expects pre-election US liquidity to keep major developed-market indices supported.
Korean nuclear and power infrastructure names are favored ahead of the 18th US investment announcement.
Apple NAND contract news and rising iPhone memory costs support Samsung, SK hynix, and Micron.
Samsung's Taylor foundry full orders are seen as a fourth-quarter breakeven catalyst.
Park warns against structurally declining country index exposure, citing China.

Ideas

Park Byeong-chang Director, MP Partners 1:08

Yen carry liquidation sparks sharp equity selloffs.

A sudden yen strengthening during the session triggered liquidation of yen-short and carry positions, hitting Korean stocks at the same time as the Nikkei 225 fell. Park argues this is not just noise: if the BOJ follows with successive rate hikes, these position-clearing shock waves could become larger, so yen volatility should be watched as a key risk for Korean equities.

Park Byeong-chang Director, MP Partners 5:20

KOSPI 200 rebalancing forces two-way stock flows.

The upcoming KOSPI 200 rebalancing creates forced index flows: Samsung Electronics and SK hynix face selling because their index weights must be reduced, though Park says the amount is smaller than their buyback capacity. Hyundai Motor is also on the sell side, while names expected to receive increased weight are seeing buying interest. This is a short-term flow-driven setup worth monitoring.

Park Byeong-chang Director, MP Partners 10:00

Saudi supply attack keeps oil price elevated.

Houthi drone and missile attacks on Saudi Aramco's core refining facilities sent oil prices jumping; WTI reached about 94.2 and Brent/Dubai were already above psychologically important levels. Park says if oil does not come down, markets will worry about further rate hikes, making energy prices a key risk to monitor.

Park Byeong-chang Director, MP Partners 11:20

Buy AI data-center semiconductor and optical names.

The US market's data-center-driven 'Astra' theme is lifting data-center semiconductors and optical communication names even as the Dow falls. Park sees this as a sign that investors should be positioned in big-tech, semiconductor, and AI data-center exposure, and says the move is positive for Korean IT stocks.

Park Byeong-chang Director, MP Partners 14:12

Pre-election liquidity supports US equities.

Park argues that markets are being held up primarily by supply-demand dynamics: before the November US election, money is unlikely to leave the US market, and that liquidity and flow support is keeping major developed-market indices near record highs despite rate, oil, and yen risks.

Park Byeong-chang Director, MP Partners 21:39

Buy Korean nuclear and energy infrastructure names.

The upcoming US investment announcement on the 18th is essentially an energy-infrastructure package, with nuclear power at its core. Park highlights nuclear-related names such as KEPCO Engineering & Construction, KEPCO Plant Service & Engineering, Doosan Enerbility, Daewoo E&C, Hyundai E&C, and Samsung C&T, and says nuclear and power equipment names are rotating higher. For investors who do not want to pick individual stocks, he recommends a nuclear/power energy ETF.

Park Byeong-chang Director, MP Partners 25:57

Korean semiconductor equipment gets fourth-quarter order momentum.

Semiconductor equipment names are moving individually because Samsung and SK hynix are expected to allocate fourth-quarter equipment orders; Park says the order assignments are already effectively set. Jusung Engineering is the leading stock in the group, and the order momentum supports the Korean semiconductor equipment sector.

Park Byeong-chang Director, MP Partners 35:21

Avoid structurally declining country index exposure.

Park uses Nike's five-year decline as a broader warning that investors should avoid countries or sectors in structural decline. He explicitly says Chinese index investors have suffered for years even though some Chinese sectors and companies surged, so country-level exposure to structural losers is dangerous.

Park Byeong-chang Director, MP Partners 35:40

Memory upcycle strengthens Samsung, SK hynix, Micron.

Apple is seeking a 3- to 5-year NAND supply agreement at high current prices, and iPhone 18 Pro memory costs are expected to rise fourfold year over year. Park sees this as a sign of memory pricing power and inflationary pressure; the key is how Samsung Electronics, SK hynix, and Micron negotiate their own contracts, which is bullish for memory makers.

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This 3PRO TV (삼프로TV) video, published September 09, 2026, features Park Byeong-chang discussing Japanese yen (USD/JPY), N225, EWY, KOSPI 200, 000660.KS, 005380.KS, 005930.KS, BNO, WTI, AI/data center semiconductor and optical communication sector, SPY, 052690.KS, KEPCO Plant Service & Engineering, 047040.KS, 034020.KS, 000720.KS, 028260.KS, Nuclear/power energy ETF, 471990.KS, 036930.KQ, China equity index, MU. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Byeong-chang · Tickers: Japanese yen (USD/JPY), N225, EWY, KOSPI 200, 000660.KS, 005380.KS, 005930.KS, BNO, WTI, AI/data center semiconductor and optical communication sector, SPY, 052690.KS, KEPCO Plant Service & Engineering, 047040.KS, 034020.KS, 000720.KS, 028260.KS, Nuclear/power energy ETF, 471990.KS, 036930.KQ, China equity index, MU