Will the August stock market sentiment change? Now, more important than semiconductors is 'supply and demand spread' | Park Byeong-chang, MP Partners CEO [Market Inside]

Summary

Park Byeong-chang, CEO of MP Partners, dissects the US sell-off triggered by Middle East geopolitical risk, arguing the move was amplified by derivatives while semiconductor shares stayed resilient. He points to ongoing AI capex gains as a tailwind for Korean hardware names, notes early signs of sector rotation beyond Samsung and SK hynix, and calls out defense, power equipment, and share-cancellation stories as actionable themes.

• US equities fell sharply on geopolitical fears, but the AI semiconductor supply chain held up well.
• Korean market showed broadening gains beyond Samsung and SK hynix, with defense, power equipment, and internet stocks rallying.
• AI infrastructure spending continues to surge (OpenAI, US Genesis mission), supporting demand for DRAM, substrate, and CPU.
• Power grid stability and transformers are critical after data center outages, benefiting LS Electric.
• Yuhan and Mirae Asset Securities announced large share buybacks and cancellations.
• Kakao and Naver remain underperformers in the current hardware cycle but have long-term platform value worth monitoring.
• The KOSPI is testing near-term support; a close above 7,500 would confirm a bottom and improve the outlook.