Will Volatility Subside in August? What Conditions Are Needed for the 'AI Rally' to Resume? | Jang Jaeyoung, Kim Junsu, Yeo Doeun, Heo Jaemoo [Morning N Investment]

Watch on YouTube ↗  |  August 05, 2026 at 02:21  |  55:58  |  3PRO TV (삼프로TV)
Speakers
Jang Jaeyoung — Deputy General Manager
Kim Junsu — Assistant Manager, NH Investment & Securities

Summary

The video discusses whether the August volatility will subside and what conditions are needed for the AI rally to resume. Deputy General Manager Jang Jaeyoung argues that three key conditions—demand, supply, and rates—are being resolved, supporting a rebound in Korean memory stocks. He also highlights a Korean ETF focused on Chinese humanoid robot component makers as a thematic play. Assistant Manager Kim Junsu explains that big tech corporate bond issuance is not a credit crisis and picks Microsoft and Alphabet as the safest long-term AI winners due to their funding strength.

  • Jang Jaeyoung sees the market forming a bottom and expects AI rally to resume as demand, supply, and rate concerns ease.
  • Demand is confirmed by big tech cloud revenue growth and sustained AI capex; AI efficiency paradox may boost total chip demand.
  • Supply fears from Chinese memory maker CXMT are overblown due to equipment restrictions, low yields, and limited high-end output.
  • Interest rate stabilization is likely as US midterm elections and softening employment data limit hawkish moves.
  • Korean memory makers Samsung Electronics and SK hynix are the main beneficiaries of the AI recovery.
  • A KODEX China Humanoid Robot ETF is recommended for exposure to Chinese robot supply chain parts makers ahead of Unitree's IPO.
  • Kim Junsu notes hyper-scaler bond issuance has surged but credit risk is low given strong profitability and low leverage.
  • Microsoft and Alphabet are singled out as the safest AI investments due to top credit ratings and flexible funding.
Ideas
Jang Jaeyoung Deputy General Manager 8:50
Korean memory stocks poised for AI rally
Korean memory semiconductor stocks such as Samsung Electronics and SK hynix will recover as the AI rally resumes. The three overhangs — demand, supply, and rates/liquidity — are being resolved: big tech capex and cloud revenue growth confirm solid AI demand; Chinese memory maker CXMT's expansion is limited by EUV equipment restrictions, low yields, and insufficient bit supply to meet even domestic demand, so global high-end memory supply remains tight; and US political dynamics with upcoming midterm elections plus softening employment data support interest rate stabilization, creating a favorable environment for tech. The market has already priced in worst fears and is building a bottom, with the three confirmations driving a staircase rebound toward prior highs.
005930.KS 000660.KS HIGH
Jang Jaeyoung Deputy General Manager 29:50
Korean robot parts ETF plays China robotics
The KODEX China Humanoid Robot ETF offers exposure to Chinese humanoid robot supply chain component makers, which are set to benefit regardless of which robot manufacturer ultimately wins. Unitree's upcoming IPO will renew interest in the sector, and these component companies have a history of supplying Tesla as well, positioning them for both Chinese and global demand. The ETF has a high weighting in component makers, making it an efficient way to capture this theme.
KODEX China Humanoid Robot ETF MED
Kim Junsu Assistant Manager, NH Investment & Securities 44:25
Microsoft and Alphabet are safe AI winners
Microsoft and Alphabet are the safest long-term AI investments because their top-tier credit ratings and ability to issue even 100-year bonds show they can fund the AI arms race longer than competitors, making them likely ultimate winners. Their leverage ratios remain low relative to earnings, and robust cloud growth already demonstrates AI monetization, so credit risk is manageable.
MSFT GOOGL HIGH
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This 3PRO TV (삼프로TV) video, published August 05, 2026, features Jang Jaeyoung, Kim Junsu discussing 005930.KS, 000660.KS, KODEX China Humanoid Robot ETF, MSFT, GOOGL. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jang Jaeyoung, Kim Junsu  · Tickers: 005930.KS, 000660.KS, KODEX China Humanoid Robot ETF, MSFT, GOOGL