Has KOSDAQ bottomed out and begun a full-scale ascent? Next week's leading sector is 'this sector' | Director Lee Young-hoon

Summary

Director Lee Young-hoon discusses the recent rebound in the KOSDAQ market, noting a rotation of fast money out of large-cap memory semiconductors. He identifies the biotech sector as the most promising area, particularly companies with proven license-out records, while expressing caution toward secondary batteries, semiconductor equipment, and robotics due to valuation and growth delays. He also critiques the proposed KOSDAQ promotion/relegation system, advocating for qualitative metrics over simple market cap or earnings criteria.

• Fast money is rotating from Samsung Electronics and SK hynix into the KOSDAQ market.
• Biotech is highlighted as the top KOSDAQ sector, led by companies with proven track records.
• Alteogen is favored for its superior expansion potential compared to Halozyme.
• Secondary battery stocks remain range-bound due to delayed revenue growth and low margins.
• KOSDAQ semiconductor equipment valuations are unappealing without a strong rally in memory makers.
• The proposed KOSDAQ promotion system should use qualitative metrics like business plan adherence rather than simple financial cutoffs.