Stock prices won't fall due to interest rates: Why you should look at the market differently now | Lee Gwon-hee, CEO of Wizwave

Summary

Lee Gwon-hee, CEO of Wizwave, argues that rising bond yields should no longer be treated as an automatic sell signal for equities because the regime has shifted from liquidity-driven markets to a real investment cycle. He points to global indexes such as Germany and France, European defense and infrastructure spending, and US AI data center investment as evidence. For Korea, he sees Samsung Electronics and SK Hynix as fundamentally underpriced despite foreign-led selling, and believes the KOSPI at around 5.1x PER is attractive, though he expects a dull range until the mid-September Clarity bill and FOMC.

• Broadcom post-earnings strength is an OK AI signal, not a fresh negative.
• Samsung Electronics and SK Hynix selloff is not justified by earnings or US peer action.
• KOSPI PER near 5.1x is historically attractive but sentiment remains weak.
• Major global equity indexes are rising alongside higher yields due to investment demand.
• Europe's record equity strength is driven by defense and infrastructure spending.
• US AI data center construction is leading the investment cycle.
• Oracle debt worries are likely overdone; next earnings is a key check.
• He advises waiting for the September 15 Clarity bill and September 16 FOMC before trading Korean markets.