KOSDAQ Investment Strategy: Finding a Resting Chollima Amid the Small/Mid-Cap Rally - Park Se-ik, Executive Director, Chesley Investment Advisory

Summary

Park Se-ik, Executive Director at Chesley Investment Advisory, reviews Korean market flows and charts, focusing on a continuing KOSDAQ and small/mid-cap rally while large caps lag. He highlights several technical setups, including a resting high-margin KOSDAQ name, NAVER, Samsung SDI, Hyosung Heavy Industries, and EcoPro Materials. He also notes near-term caution on Hyundai Motor and semiconductors, and says shipbuilding is holding key support.

• KOSDAQ and small/mid-caps are expected to continue leading, similar to the 2021 rotation.
• HPSP is highlighted as a strong growth stock resting after a sharp pullback, with institutional and foreign buying.
• NAVER is favored on foreign buying and a falling USD/KRW.
• Samsung SDI and EcoPro Materials show constructive cup-with-handle patterns.
• Hyosung Heavy Industries is seen rebounding from its 5-month moving average after a correction.
• Hyundai Motor is under pressure from foreign and institutional selling and may correct further.
• Shipbuilding is pulling back but holding its 5-month moving average.
• Semiconductor futures and options positioning suggests a possible weak near-term open.