The Hottest KOSPI Ever…Can It Continue to Soar in the Second Half? | Park Byung-chang, MP Partners CEO

Summary

Park Byung-chang reviews the Korean market's unusual June, where the KOSPI closed unchanged despite wild swings and broad individual stock losses. He sees resilience as a bullish signal for H2, driven by institutions and semiconductor/AI themes. He highlights Samsung Electro-Mechanics' major MLCC deal, warns on EcoPro BM's dilutive rights offering, and notes Korea Investment & Securities' innovative platform. He also discusses KOSDAQ reform risks and advocates ETFs to navigate narrow markets.

• KOSPI ended June flat amid extreme volatility, with 95% of stocks down, signifying strong underlying support and a potential second-half rally.
• Foreign mechanical selling likely exhausted; institutional buying expected to drive the market upward.
• Samsung Electro-Mechanics surged on a 450 billion won AI server MLCC deal, expanding its high-value product mix.
• EcoPro BM's 1.2 trillion won rights offering with 20% discount creates a multi-month overhang and signals cash urgency.
• Korea Investment & Securities plans an integrated multi-asset platform, a competitive edge that could attract customers.
• KOSDAQ index reform may produce winners and losers; caution warranted for non-select small-caps.
• ETF use is recommended to avoid stock-picking traps in a narrow, semiconductor-led market.