KOSPI Snorts at 'Black Monday'... What Happened? | Baek In-jae, Deputy Center Head, Hana Securities Sales & Financial Center

'검은 월요일' 콧방귀 낀 코스피...어떻게 된 걸까? | 백인재 하나증권 영업부금융센터 부센터장 [더블 크루]

Watch on YouTube ↗ | February 03, 2026 at 02:37 | 16:25 | 3PRO TV (삼프로TV)

Speakers

Baek In-jae — Deputy Center Director, Hana Securities

Summary

Baek In-jae, Deputy Center Head at Hana Securities Sales & Financial Center, interprets the prior session's Black Monday selloff as a forced-liquidation event tied to CME margin hikes on gold and silver rather than a lasting fundamental shock. He expects stabilization and emphasizes KOSDAQ catch-up versus KOSPI, with semiconductor supply-chain spillover and policy/institutional support. He recommends core KOSPI large caps, KOSDAQ or AI semiconductor ETFs, and highlights auto parts and biotech as areas to watch while warning against leverage after the sharp rally.

Baek explains the sharp selloff as a CME margin-driven liquidation cascade.
He dismisses the Kevin Warsh hawkish narrative as a potentially wrong premise.
He expects KOSDAQ to catch up to the much stronger KOSPI rally.
He favors Korean semiconductor supply-chain exposure via KOSDAQ and AI materials, equipment, and parts.
He recommends Samsung Electronics or SK hynix, and Hyundai Motor as a robotics stock.
He warns against leverage after the surge and suggests ETFs instead.
Auto parts and biotech are flagged as sectors to watch.

Ideas

Baek In-jae Deputy Center Director, Hana Securities 4:42

Black Monday selloff was forced liquidation.

The sharp Black Monday selloff was mostly a forced-liquidation cascade after CME raised gold and silver margin requirements, not a fundamental shock from Kevin Warsh; once margin needs are met, selling pressure should ease and the Korean market should stabilize or rebound, as it already began to do.

Baek In-jae Deputy Center Director, Hana Securities 10:27

KOSDAQ should catch up to KOSPI.

KOSPI has roughly doubled from early last year while KOSDAQ is up only about 55%, so KOSDAQ should catch up; earnings-backed KOSPI semiconductor leadership should spill over into KOSDAQ parts, materials, and equipment, helped by the government's 3,000 KOSDAQ policy and institutional buying.

Baek In-jae Deputy Center Director, Hana Securities 12:05

AI semiconductor suppliers ride Samsung/hynix spillover.

As Samsung Electronics and SK hynix lead the KOSPI on earnings, the spillover should lift KOSDAQ-listed AI semiconductor parts, materials, and equipment suppliers; investors who cannot choose individual names can use an AI semiconductor supply-chain ETF.

Baek In-jae Deputy Center Director, Hana Securities 13:26

Avoid leverage after sharp market surge.

Using leverage after such a sharp market surge is dangerous; investors should not use leveraged products today and should only consider them after a sufficient correction and their own confirmed bottom thesis, preferring ETF exposure instead.

Baek In-jae Deputy Center Director, Hana Securities 14:42

Korean auto parts are worth watching.

After the sharp correction and with the automotive cycle in focus, Korean auto parts stocks are an area worth reviewing now for a potential setup.

Baek In-jae Deputy Center Director, Hana Securities 14:49

Korean biotech is worth watching now.

Korean biotech has been under pressure for a long time, so it is now an area worth watching for a potential recovery setup.

Baek In-jae Deputy Center Director, Hana Securities 15:20

Buy one of Samsung or SK hynix.

Samsung Electronics and SK hynix are the earnings-backed large-cap leaders of the Korean market; at least one should be included as a core KOSPI holding, and their strength also supports the KOSDAQ spillover theme.

Baek In-jae Deputy Center Director, Hana Securities 15:23

Hyundai Motor is a robotics stock.

Hyundai Motor should be treated as a robotics stock because robots build its cars; it is recommended as a core large-cap holding alongside the semiconductor leaders.

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3PRO TV (삼프로TV) · Feb 03

This 3PRO TV (삼프로TV) video, published February 03, 2026, features Baek In-jae discussing EWY, KOSDAQ Index, KOSDAQ 150 ETF, Korean AI semiconductor materials/equipment/parts, Korean AI semiconductor materials/equipment/parts ETF, Leveraged equity ETFs, Korean auto parts, Korean Biotech, 005930.KS, 000660.KS, 005380.KS. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Baek In-jae · Tickers: EWY, KOSDAQ Index, KOSDAQ 150 ETF, Korean AI semiconductor materials/equipment/parts, Korean AI semiconductor materials/equipment/parts ETF, Leveraged equity ETFs, Korean auto parts, Korean Biotech, 005930.KS, 000660.KS, 005380.KS