Semiconductors, it's not over yet. Why you need a 'sell plan' now

Summary

Host Yeo Doe-eun and guest Jang Woo-jin (CEO, Geum Si-gong) discuss the stark K-shaped divergence in Korean markets, with KOSPI surging on semiconductor strength while KOSDAQ slumps. Jang analyzes Micron's blowout earnings, warns that semiconductor upside is now limited and margins may peak, advising against chasing and emphasizing the need for a sell plan. He gives a technical outlook for KOSDAQ, suggesting using bounces to exit, highlights stable alternatives like Korean Electric Power and Korean Air, and flags a potential double-top risk in KOSPI amid continued foreign selling.

• KOSPI up over 5% but KOSDAQ down over 2%, driven by concentrated liquidity in semiconductors and polarization.
• Micron's record margins and long-term contracts signal robust demand but also a potential peak in memory profitability.
• Korean semiconductor leaders (Samsung Electronics, SK Hynix) face capped upside; new buyers should exercise caution.
• KOSDAQ is in a technical downtrend; investors are advised to sell into rallies that fail at the 20-day moving average.
• Korean Electric Power and Korean Air are seen as stable, low-volatility gainers offering a calmer alternative.
• KOSPI approaching prior highs; a failure to break out could form a double top and trigger program-driven selling.
• Foreign institutional selling is expected to continue due to rebalancing, adding headwinds for the broader market.
• Investors are urged to prioritize downside protection, avoid euphoria, and have a predetermined exit plan for semiconductor holdings.