Now is the time to focus on defense, don't spend cash recklessly! | Chesley Investment Advisory Executive Director Park Se-ik [Chesley AI / 22.08.26.Sat]

Summary

Park Se-ik updates his market view for August 22, saying the KOSPI and semiconductor indices are in a seasonal correction. He has cut equity exposure and wants to stay defensive into mid-September before buying weakness. He highlights Samsung Electronics' foundry-driven support and SK Hynix's overhead supply risk, while rising 10-year Treasury yields call for patience with cash.

• SOX semiconductor index has broken its 5-day line and faces weak September seasonality.
• KOSPI recovered only about 50% of its drop and is unlikely to reclaim its 5-month moving average this month.
• Park reduced equity risk from last Friday to this week to wait for mid-September opportunities.
• Samsung Electronics has foundry-driven support near 230,000 won.
• SK Hynix has heavy retail overhead supply and may test or break its July low.
• The US 10-year Treasury yield rising to 4.74% means more patience before deploying cash.
• Overall stance is defense over offense until mid-September.