KOSDAQ Stock Price Plunges.. The Signal That Tells the Real Bottom is 'This' / Upcoming Q3, 8 Sectors to Watch? | Lee Kyung-min, Department Head

Summary

Lee Kyung-min, Department Head at Daishin Securities, analyzes the KOSDAQ downturn and identifies eight sectors with strong earnings momentum for Q3 2026. He recommends semiconductor equipment/materials, shipbuilding, secondary batteries, and defense, with a tactical rotation to telecom and financials later. He sees shipbuilding and secondary batteries as having additional catalysts beyond earnings.

• KOSDAQ's decline is attributed to high valuations and bond yield sensitivity, with a recovery possible if yields ease.
• Policy measures like the promotion system and National Growth Fund are discussed but seen as limited in direct impact.
• Eight sectors are highlighted for Q3 based on H2 2026 earnings momentum.
• Semiconductor equipment/materials are favored for earnings visibility and policy tailwinds.
• Shipbuilding and secondary batteries have additional catalysts such as floating data centers and lithium price recovery.
• Defense is seen as a value opportunity once the SpaceX IPO overhang clears.
• A tactical rotation from growth to telecom and financials is recommended for late summer/fall.
• The overall tone is cautiously optimistic on select earnings-driven sectors.