A Crash Never Seen in a Lifetime: First Ever Two Consecutive Days of Circuit Breakers 'Panic' | Chesley Investment Advisory Executive Director Park Se-ik

Summary

Park Se-ik addresses the historic two-day crash with consecutive circuit breakers, drawing on his 33 years of market experience. He frames the panic as a buying opportunity similar to past crises, advocating buying the KOSPI 200 ETF and semiconductor equipment/materials stocks that have fallen to deep valuations. He criticizes institutional inaction, warns against leverage, and remains confident the market will rebound strongly.

• KOSPI and KOSDAQ suffered their first-ever consecutive circuit breakers amid fears over semiconductor oversupply and AI investment slowdown.
• Park Se-ik recommends aggressively buying KODEX 200 to capture the inevitable index rebound, then rotating into future leaders.
• He endorses buying Korean semiconductor equipment and materials stocks that have crashed to a PBR of 1, citing Chinese demand as a long-term driver.
• He warns against panic selling and leveraged products, recalling that similar crashes (COVID, 2024 tariff shock) were followed by strong recoveries.
• He criticizes the National Pension Service and government stabilization funds for failing to provide liquidity and stabilize the market.
• He notes that a hidden oil demand collapse is keeping a lid on oil prices, which could help lower rates and trigger a stock rebound.
• Individual investors have suffered an estimated 56 trillion won in losses on leveraged products, while still buying SK hynix on dips.
• Mirae Asset Securities could face a significant valuation loss from its Space X stake, though the speaker does not take a clear trading stance on the stock.