Sell In May? Never Sell! If the Korean Stock Market Drops, You Should Buy Even More... Why? / Sell When 'This Signal' Appears That Predicts a Downturn | Daishin Securities Director Lee Kyung-min

Sell In May? 절대 팔지 마세요! 한국 증시 빠지면 오히려 더 사야 합니다.. 왜? / 하락장을 예고하는 '이 신호' 나오면 파세요ㅣ대신증권 이경민 부장
Watch on YouTube ↗  |  May 07, 2026 at 07:00  |  24:41  |  815 Money Talk (815머니톡)
Speakers

Summary

Lee Kyung-min, Director at Daishin Securities, argues that the 'Sell in May' adage does not apply this year; instead, any May volatility is a buying opportunity for KOSPI. He emphasizes that the market is in a classic earnings-driven phase with semiconductors as the core holding, and identifies internet, pharmaceuticals, and lagging auto/secondary battery sectors as attractive. He also sees potential for a KOSDAQ rebound in June/July driven by government policy catalysts, while warning of oil and bond yield risks.

  • Lee dismisses 'Sell in May' and advises buying KOSPI dips based on historical year-end return patterns.
  • Semiconductors are the must-own sector; valuations remain attractive and earnings momentum is strong.
  • Internet stocks (NAVER, Kakao) are near valuation bottoms and could rebound on bond yield stabilization.
  • Pharmaceuticals and biosimilars are preferred over speculative biotech names.
  • Automotive and secondary battery sectors are recommended for dip buying after recent underperformance.
  • KOSDAQ may get a policy-driven rebound in June/July, but near-term risks from bond yields remain.
  • Key risk events: April CPI (May 12) and core CPI; oil above $120 and 10-year yield above 4.5% could trigger a sell-off.
  • The overall market regime is earnings-driven, not liquidity-driven, making it resilient to rate hike talk.
Trade Ideas
Lee Gyeong-min, Manager 0:00
Buy KOSPI dips in May.
Based on historical KOSPI data, years that rise from January to April tend to see a strong year-end rally even if May is weak. Therefore, any volatility in May should be used as a buying opportunity, not a selling signal. The current market is in a classic earnings-driven phase, and the upside remains open toward 7,400-8,000+ on forward earnings multiples.
EWY HIGH
Lee Gyeong-min, Manager 0:10
Auto sector is a buy.
Auto stocks have been relatively neglected and are now at attractive price levels. They tend to move sharply once they start moving. Current prices offer a buying opportunity for those who missed earlier rallies.
CARS MED
Lee Gyeong-min, Manager 0:10
Buy secondary battery dips.
Secondary battery stocks have pulled back and are resting. If they correct another 4-5% or even 10%, they enter a strong buying zone given the long-term demand story.
Secondary Batteries (Sector) MED
Lee Gyeong-min, Manager 0:14
Internet is undervalued.
Internet stocks (NAVER, Kakao) are near historical valuation bottoms, earnings are expected to improve from Q4 2025 lows, and bond yield stabilization could trigger a significant rebound. The box range suggests 10-15% upside to 1,380 on the internet index, with potential to break higher.
035420.KS 035720.KS HIGH
Lee Gyeong-min, Manager 0:15
Pharma/biosimilars are buys.
Pharmaceuticals (and biosimilars) are undervalued relative to earnings and have been pressured by bond yields. Within biotech, only stable earners like pharma and biosimilars are preferred. The sector offers a rebound play once bond yields stabilize.
XLV MED
Lee Gyeong-min, Manager 0:16
KOSDAQ may rally mid-year.
KOSDAQ is currently under pressure from bond yields and biotech weakness, but government promotion policies (tier system, premium listing) in June/July could catalyze a rebound. The index could break 2,000 again, but timing is uncertain. It's a watch for now.
KOSDAQ MED
Lee Gyeong-min, Manager 0:19
Semiconductors are core holdings.
Semiconductors are the essential core holding ('필수템'). Valuations are attractive relative to historical averages, earnings continue to surprise upward, and foreign and ETF inflows are concentrated here. Even for laggards, buying semiconductor equipment stocks is recommended. The sector remains the primary driver of the market.
SMH HIGH
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This 815 Money Talk (815머니톡) video, published May 07, 2026, features Lee Gyeong-min, Manager discussing EWY, CARS, Secondary Batteries (Sector), 035420.KS, 035720.KS, XLV, KOSDAQ, SMH. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Lee Gyeong-min, Manager  · Tickers: EWY, CARS, Secondary Batteries (Sector), 035420.KS, 035720.KS, XLV, KOSDAQ, SMH