Plummeting Market That Collapsed Investor Sentiment… Is the Semiconductor Stock Bull Market Really Over? "The Korean Stock Market Will Flow Like This" | Oh Hyun-jin Team Leader

Summary

Oh Hyun-jin analyzes the market crash that destroyed investor sentiment, defending the semiconductor bull thesis by arguing that negative headlines (New York data center pause, CXMT IPO, K-rate hike) are temporary and misinterpreted. He recommends buying Samsung Electronics and SK hynix on dips and highlights selective long ideas in refining (SK Innovation), convenience retail (GS Retail, BGF Retail), and Alteogen as a bonus-issue catalyst. He also reviews defensive sector resilience, leverage ETF regulation disappointment, and the convergence premium in SK hynix ADR.

• Korean markets plunged on sentiment, but semiconductor fundamentals remain intact; the 'Big 2' (Samsung Electronics, SK hynix) are favored to buy on dips.
• A New York state data center permit pause, CXMT’s STAR market IPO, and a Bank of Korea rate hike are near-term sentiment hits but have limited fundamental damage.
• Refining margins are exceptionally strong; SK Innovation is a top pick benefiting from a Q1 earnings surprise and a second-quarter outlook as well as 2nd battery holdings.
• Convenience store retailers GS Retail and BGF Retail deliver strong earnings and can act as a defensive portfolio diversifier.
• Alteogen postponed its KOSPI transfer and announced a 1:1.3 bonus issue, which may provide short-term price upside; a Kosdaq stimulus package could make it a major beneficiary.
• Sectors such as telecom, banking, insurance, and gaming showed relative strength, while shipbuilding and defense remain slow to react despite positive narratives.
• Leverage ETF regulation measures disappointed and failed to calm volatility; the SK hynix ADR premium of ~30% suggests a future convergence likely favoring the local share.