Has the Expected Surge Finally Arrived? Samsung Electronics' Sprint Begins? | Ha Chang-wan, CEO of Ha Bono's Stock Story

Summary

Ha Chang-wan, CEO of Ha Bono's Stock Story, reviews the Korean market's morning session. He notes that cosmetics stocks are surging on strong export data and earnings upgrades, while AI-driven transformer and power equipment plays follow US peers higher. Refining stocks remain supported by record refining margins. On KOSPI, he sees a cautious technical picture and will only turn bullish on a confirmed double bottom near 5,500. He warns against life insurers due to accounting opacity and suggests biotech and defense lack near-term catalysts.

• Cosmetics stocks rally on export strength and analyst upgrades, with Cosmax and peers showing momentum.
• AI infrastructure buildout drives transformer stocks (Sanil Electric, LS Electric, Hyundai Electric) following US peers.
• Refining stocks S-Oil and GS benefit from near record-high refining margins, not just oil prices.
• KOSPI needs a double bottom around 5,500 with a clear breakout to confirm a bullish bet; current setup is fragile.
• Korean life insurers are uninvestable due to complex, opaque accounting; they should be avoided.
• Biotech, defense, and theme stocks lack clear, continuous catalysts and are mostly trading-oriented.
• Overall market flow shows rotation from KOSDAQ to KOSPI, with program buying focused on Samsung Electronics.