Futures 2 Trillion Thrown at Market Close.. Korean Stock Market Manipulated by Foreigner Derivative Day Trading / Morgan Stanley Predicts KOSPI 9000 Again, Can We Trust It? | CEO Lee Kwon-hee

Summary

CEO Lee Geon-hee analyzes a day when KOSPI fell over 5% driven by foreign derivative selling, while KOSDAQ rose on robotics and biotech. He sees near-term KOSPI pressure but argues Samsung Electronics and SK hynix are extremely undervalued. He highlights Doosan's favorable SK Siltron deal and expects KOSDAQ to rally into September on upgrade system catalysts.

• KOSPI fell over 5% with Samsung and SK hynix down 9%; KOSDAQ rose 2.4-4% led by robotics and biotech.
• Foreigners sold 3.8 trillion won in KOSPI and dumped 2 trillion won in futures at the close, signaling no near-term rebound.
• Lee expects continued KOSPI weakness and possible early-strength-late-weakness pattern tomorrow.
• Samsung Electronics and SK hynix are now the cheapest memory stocks on forward PBR, with historical boom multiples pointing to significant upside.
• Doosan acquired SK Siltron with low upfront cost and profit-sharing, adding a growth engine; market reacted positively.
• KOSDAQ upgrade system announcement in September could trigger rallies in candidate stocks, and positions are light.
• Rapid won strengthening poses risk for export-oriented names, but no major negative catalysts are visible.