Foreigners are buying KOSPI futures - Park Se-ik Senior Managing Director & Chesley Investment Advisory Morning Brief

[Highlight] Foreigners are buying KOSPI futures | Park Se-ik Senior Managing Director & Chesley Investment Advisory [Morning Brief / 26.07.30.Thu]

Watch on YouTube ↗ | July 30, 2026 at 02:09 | 34:53 | Chesley Investment Advisory (체슬리투자자문)

Speakers

Park Se-ik — CEO, ex-Chief Strategist

Choi Ho — Vice President

Summary

Park Se-ik and Choi Ho discuss the KOSPI market amid recent sell-off. They note foreign investors are aggressively buying KOSPI futures and have shifted away from protective puts, signaling a near-term rebound. Fundamentals support KOSPI near 7500, with Hyundai Motor and the securities sector presenting attractive opportunities. Choi Ho highlights shipbuilding stocks beating earnings estimates, while Park points to Chinese memory stock CXMT as a beneficiary of index inclusion flows.

Foreign investors buying KOSPI futures heavily, unlike 2024, indicating rebound bets.
Hyundai Motor's dividend yield becomes attractive as stock falls, supported by strong EV/hybrid/robot business.
KOSPI earnings surge justifies current levels; target 7500, not a bubble.
Korean securities sector a structural growth play, 40% correction offers entry.
Shipbuilding stocks beat consensus with rising margins; engine delays manageable.
China's CXMT memory IPO to be included in MSCI EM, drawing passive flows.
Crowded semiconductor trades unwinding; caution on chasing recent falls.

Ideas

Park Se-ik CEO, ex-Chief Strategist 1:57

Foreign futures buying signals rebound.

Foreign investors are aggressively buying KOSPI futures over the last two days, and their options positioning shows a clear upward bias, completely different from the heavy put buying seen in 2024. This indicates that foreign derivatives players are now betting on a short-term market rebound.

Park Se-ik CEO, ex-Chief Strategist 5:20

Hyundai Motor offers attractive dividend yield.

As Hyundai Motor's stock price has fallen, its dividend yield has become increasingly attractive. The company's core investment thesis remains intact because its electric vehicle, hybrid, and robotics businesses are performing well, and the earlier bubble from the Boston Dynamics Atlas robot hype has now deflated. Foreign investors are buying into this attractive dividend yield opportunity.

Park Se-ik CEO, ex-Chief Strategist 9:12

KOSPI not bubble, target 7500 supported.

The KOSPI is not in a bubble. Corporate earnings increased massively from 300 trillion won last year to an expected 900 trillion won this year, so a 35% YTD gain is fully justified. Fair value for KOSPI is around 7,500, and interest rates will eventually fall again, making the current correction a buying opportunity.

Choi Ho Vice President 23:05

Shipbuilding beats consensus, margins rising.

Korean shipbuilding stocks have recently reported earnings, and most of them are significantly beating consensus with operating margins rising sharply. Even engine makers that saw some deliveries pushed to the second half should be fine because the volumes are merely deferred. The overall shipbuilding sector looks strong.

Park Se-ik CEO, ex-Chief Strategist 25:02

Securities sector structural growth, buy dip.

Korean securities stocks are in a structural growth phase as money moves from traditional commercial banks into the securities sector, which keeps creating innovative products. The sector has corrected about 40%, making this a good entry point for a structural growth story.

Park Se-ik CEO, ex-Chief Strategist 31:03

CXMT inclusion drives Chinese memory inflow.

China has lacked a major memory company, but CXMT has recently gone public with a market capitalization around 800 trillion won. Because the MSCI EM index will need to include CXMT, passive funds will be forced to buy it, driving capital flows into Chinese memory stocks.

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Mad Money 07/29/26 | Audio Only

This Chesley Investment Advisory (체슬리투자자문) video, published July 30, 2026, features Park Se-ik, Choi Ho discussing KOSPI 200 Index, 005380.KS, EWY, PKX, Korea Securities Sector, CXMT. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Se-ik, Choi Ho · Tickers: KOSPI 200 Index, 005380.KS, EWY, PKX, Korea Securities Sector, CXMT