KOSPI Hits Record High, Will the Semiconductor Rally Continue? | Park Byeong-chang, MP Partners CEO [Market Inside]

Summary

Park Byeong-chang, CEO of MP Partners, reviews a session in which KOSPI hit an all‑time high above 3,000 points driven solely by Samsung Electronics, SK hynix, and Samsung Electro-Mechanics, while the rest of the market fell sharply. He explains the extreme concentration in semiconductors as rational given the earnings vacuum elsewhere, notes heavy institutional buying in the two memory leaders, and warns that if the sell‑off in shipbuilding, defense, and energy leaders continues, the market may face a broader correction. He also flags near‑term catalysts including KOSDAQ activation policies, MSCI reclassification, and global semiconductor equipment demand, and advises watching the next rotation rather than chasing the current narrow rally.

• KOSPI sets a new record high above 3,000 points, fueled solely by Samsung Electronics, SK hynix, and Samsung Electro-Mechanics
• Semiconductor equipment stocks like Hanmi Semiconductor and PSK benefit from global capacity expansion and Trump’s US production push
• Institutional flows are overwhelmingly concentrated in Samsung Electronics and SK hynix, while fund managers chase the index by buying these two names
• Almost all other sectors—defense, shipbuilding, autos, energy—suffered heavy single‑day declines of 5–9% as institutions dumped non‑semiconductor holdings
• Speakers warns that continued weakness in sector leaders such as Doosan Enerbility, LS Electric, HD Hyundai Heavy, Samsung Heavy could signal a broader correction ahead
• KOSDAQ fell 3% on the same day, but a planned government ‘premier league’ system may lift the index via selective institutional buying in July
• MSCI reclassification next week could push Korea into the developed market watchlist, increasing passive large‑cap inflows and reducing forced selling
• Trump’s Intel‑focused semiconductor remarks are seen as mildly positive for Korean equipment and parts suppliers, not for the memory majors