Greed Collapses Accounts... Prepare for Samsung and SK Hynix Range-Bound in H2 | Hong Sun-ae, Park Byung-chang CEO MP Partners [Yeouido Insight]

Summary

Park Byung-chang, CEO of MP Partners, analyzes the recent sharp Korean market decline, attributing it to leverage ETF unwinding and retail panic rather than a systemic crisis. He forecasts a handoff from retail to institutional investors in H2, stabilization, and a likely trading range for Samsung Electronics and SK Hynix, while noting that Nvidia has broken out and will lead US markets.

• Recent KOSPI plunge was driven by leverage ETF liquidation and retail panic, not a global systemic shock.
• Institutional investors (trusts, pensions) are expected to become the dominant force in H2 as retail weakens.
• SK Hynix and Samsung Electronics are likely to enter a box range; LTA contracts support earnings but cap growth.
• Trading strategy for semiconductor majors: buy near the lower end, sell near the upper end of the range.
• Nvidia has broken out of its consolidation range and is expected to lead the US market.
• Investor psychology caution: avoid chasing rallies, secure profits when possible, illustrated by a sparrow parable.
• If semiconductor majors stay range-bound, market rotation into other sectors may occur, but stock selection remains crucial.