Anxious Retail Investors Amidst Samjeon-Nix Plunge, What to Watch Now is Structural Growth in Semiconductors More Than Correction | Kim Jang-yeol, Head of Unistory Asset Management [Today's Featured Stock]

Summary

Kim Jang-yeol, Head of Unistory Asset Management, discusses the sharp market correction in Korean semiconductor stocks, particularly Samsung Electronics and SK Hynix. He views the dip as a buying opportunity within a structural uptrend driven by AI memory demand, but warns that a further 10%+ decline would trigger risk-off. He cautions against chasing small-cap equipment names like PSK and PSK Holdings, which have rallied on multiple expansion. He also notes that rising US Treasury yields, including the 30-year at 5%, are a key macro risk to monitor.

• The market saw a 6%+ correction, likely a dip within a longer uptrend, not a collapse.
• Samsung Electronics and SK Hynix have strong earnings momentum from AI memory demand (LPDDR, HBM).
• Kim recommends buying Samsung and Hynix on dips of 4-5%, but if the drop extends to 10%, caution is needed.
• Small-cap semiconductor equipment stocks like PSK and PSK Holdings are overvalued after multiple-expansion-driven target hikes.
• Rising US bond yields, especially the 30-year at 5%, pose a risk to equity valuations.
• Investors should focus on large-cap semis, which are more resilient than small caps in a macro downturn.
• Kim plans to release an educational video on optical communication (CPO) over the weekend.
• He maintains a cautiously optimistic stance: not overly bullish or bearish.