SK Hynix Surges 13%...The Bottom Is Formed But It's Too Early to Talk About a 'Trend Reversal' | Hong Seonae, Jang Woo-jin, CEO of Geumsigong

SK Hynix Surges 13%...The Bottom Is Formed But It's Too Early to Talk About a 'Trend Reversal' | Hong Seonae, Jang Woojin, CEO of Geumsigong [Yeouido Insight]
Watch on YouTube ↗  |  August 20, 2026 at 09:10  |  40:41  |  3PRO TV (삼프로TV)
Speakers
Jang Woo-jin — Writer

Summary

Jang Woo-jin, CEO of Geumsigong, reviews a strong market rebound led by SK Hynix's record buyback and US Treasury buyback news, but argues the bottom is not yet a confirmed trend reversal. He sees war, refined product inflation, and bond market stress as unresolved macro risks, while highlighting crypto catalysts, Korean mRNA names, and SK Securities as ideas to watch. SK Hynix remains positive but not a chase for new buyers.

  • SK Hynix's 40 trillion won buyback/cancellation is positive but 3-4% of shares is not enough for a full re-rating without liquidity.
  • The new SK Hynix labor deal pays 60% of performance bonuses in stock, with part immediately sellable, partially offsetting the buyback.
  • US Treasury buyback expansion is not QE; it has Operation Twist-like effects and the 30-year yield is still testing 5.2%.
  • Crypto rallied on Trump's Clarity Act push and strategic Bitcoin reserves comments, lifting Bitcoin, Ethereum, and altcoins.
  • SK Securities hit its upper limit on crypto ties, Dunamu stake, and SK Hynix buyback fee expectations.
  • Moderna's mRNA news lifted Korean mRNA vaccine platform stocks such as Samyang Biopharm, but these are high-risk thematic trades.
  • Jang remains cautious on new broad market entries until inflation and war risks clear.
Ideas
Jang Woo-jin Writer 4:31
Buyback positive, re-rating needs more liquidity.
SK Hynix's record 40 trillion won buyback and cancellation is clearly positive and should help form a floor, but at only 3-4% of shares outstanding it is not by itself enough to force a full valuation re-rating. Past Korean buyback cases rarely produced large multiple expansion without better liquidity, and the new labor deal paying 60% of performance bonuses in stock, with 40% of that sellable immediately this year, partially offsets the buyback effect. Existing holders can continue to hold, but new entrants should not chase aggressively.
000660.KS HIGH
Jang Woo-jin Writer 10:18
Refined product prices are unusually strong.
Even with WTI crude appearing rangebound near $84-85 per barrel, refined product prices are unusually strong: diesel is near $175 per barrel, putting the crack spread at roughly $100 versus a normal $15-25 range. Refinery damage from Ukraine-Russia and Middle East attacks, plus a mismatch between light US crude and refineries configured for heavier Middle Eastern crude, are keeping refinery utilization low, so product prices are rising independently of crude.
Diesel crack spread gasoline crack spread MED
Jang Woo-jin Writer 22:38
Buyback not QE; monitor long-end yields.
The US Treasury's doubling of long-end buybacks is not QE because it is funded by issuing short-term debt, leaving total liquidity unchanged; it has an Operation Twist-like effect that may stabilize long-end yields while short-end yields rise. However, the market still doubts it, with the 30-year yield already trying to break 5.2%, so this is a policy-driven long-end rates setup to monitor rather than a confirmed reversal.
TLT MED
Jang Woo-jin Writer 28:27
Regulatory and strategic catalysts boost crypto.
Crypto is strengthening on two specific catalysts: President Trump met crypto industry officials and aggressively pushed for the Clarity Act, which would classify many coins as commodities under the CFTC rather than securities under the SEC, easing regulation; and Trump reiterated that the US views Bitcoin as a strategic asset and may make large-scale purchases. Unlike liquidity-only moves, this lifted Ethereum 15% and broadened into altcoins, signaling a broader crypto re-rating.
ETH BTC ALTCOINS HIGH
Jang Woo-jin Writer 31:10
SK Securities multi-tie proxy; don't chase.
SK Securities hit its upper limit because it has several overlapping ties: it is a crypto-linked securities name through its Dunamu stake, it is the brokerage handling SK Hynix's 40 trillion won buyback and therefore has fee expectations, and securities stocks generally benefited from crypto and equity market strength. Jang frames this as an explanation of the move, not a chase recommendation.
001510.KS MED
Jang Woo-jin Writer 38:32
Moderna catalyst favors Korean mRNA platforms.
Moderna's explosive mRNA vaccine advance is being interpreted in Korea as a catalyst for domestic mRNA platform companies, not just for Moderna's supply-chain names. Companies that can pursue their own mRNA-based vaccine programs, led by Samyang Biopharm, outperformed sharply. If liquidity conditions remain supportive, a new KOSDAQ mRNA theme may form. These are high-risk thematic names and should be traded with small position sizes, within 5% of the portfolio, with stop-loss discipline.
357780.KQ KOSDAQ mRNA vaccine theme MED
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This 3PRO TV (삼프로TV) video, published August 20, 2026, features Jang Woo-jin discussing 000660.KS, Diesel crack spread, gasoline crack spread, TLT, ETH, BTC, ALTCOINS, 001510.KS, 357780.KQ, KOSDAQ mRNA vaccine theme. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jang Woo-jin  · Tickers: 000660.KS, Diesel crack spread, gasoline crack spread, TLT, ETH, BTC, ALTCOINS, 001510.KS, 357780.KQ, KOSDAQ mRNA vaccine theme