Samsung Electronics Stock Price Soars, Why?... Why Institutions Bought '2x ETF' for 7 Consecutive Days? / How Far Will KOSDAQ Rebound Go?

Summary

Park Geun-hyeong, department head at IBK Securities, analyzes the sudden surge in Samsung Electronics stock, attributing it to cheap valuation, a strong memory cycle, anticipated shareholder return plans, and heavy institutional buying of leveraged ETFs. He contrasts Samsung with SK Hynix's communication issues and outlines a broader market view: KOSDAQ poised for a significant technical rebound, KOSPI deeply undervalued on ROE metrics, and a recommendation to rotate into non-semiconductor KOSPI sectors alongside KOSDAQ in a barbell strategy.

• Samsung Electronics rallies despite no fresh news; cheap valuation, record DRAM prices, and proactive shareholder return expectations drive the move.
• Institutions bought Samsung 2x leveraged ETF for seven consecutive days and foreigners joined, signaling strong conviction.
• SK Hynix underperforms due to conservative IR tone and delayed shareholder return clarity, though aggressive action could trigger re-rating.
• KOSDAQ is rebounding after a 200-month moving average breakdown; historical patterns suggest average 72% upside from such lows, supported by institutional buying and a September policy catalyst.
• KOSPI is severely undervalued with 25% ROE and only 1.2x PBR, indicating significant upside potential.
• Sectors like healthcare, IT hardware, secondary batteries, and cosmetics are taking over leadership from semiconductors, supporting a barbell strategy across KOSPI and KOSDAQ.