JPMorgan: KOSPI to 15,000, Buy During Correction

Summary

Park Se-ik reviews the day's major financial news, expressing caution on KOSPI near-term due to Fed pivot fears while highlighting attractive mid-small cap valuations. He sees Korean biotech as undervalued and globally sought-after but still waiting on rates, and he reads but does not endorse JPMorgan's bullish KOSPI 15,000 call. The program also covers semiconductor super cycles, the physical AI arms race, a physicist's outperformance strategy, and a psychological column on overcoming setbacks.

• Park Se-ik says KOSPI has entered a weak phase driven by fears of a Fed rate hike, advising investors to hold cash and wait.
• He believes mid-small cap stocks have become attractively priced after large declines and may be worth averaging down for quality names.
• Korean biotech is flagged as increasingly undervalued and drawing global interest, but rate headwinds keep it in a watch phase.
• JPMorgan's report is summarized, with a bull-case KOSPI target of 15,000 and a recommendation to buy on dips, but Park does not endorse the call.
• An article on the semiconductor super cycle argues that current windfall profits must be reinvested to maintain technological leadership.
• A separate op-ed contends that physical AI (robotics plus AI) is the next technology frontier where Korea's manufacturing strengths can be leveraged.
• A physicist's statistical backtest of KOSPI identified a strategy that beat the index and an associated ETF that surged 181% in one year.
• A psychological column on coping with unfairness is read, and Park reflects on how a difficult career event ultimately led to founding his own firm.