Name: Hold Rather Than Sell Now? The Most Important Checkpoints in a Rebound Market | Yoon Jeong-sik, Baro Asset Management Managing Director [Double Check]
Uploaded: 2026-07-24T00:45:31+00:00
Duration: 1833 s

Speakers

Yoon Jeong-sik — Managing Director

Summary

Yoon Jeong-sik from Baro Asset Management reviews the Korean market's rebound and key checkpoints. He highlights data center-driven renewable energy plays, AI capex benefiting semiconductor giants, strength in bank stocks, and upside in Naver. He advises holding KOSPI positions despite low volume and staying cautious on KOSDAQ due to weak sectors and shrinking liquidity.

AI capex from Google and others supports demand for Samsung Electronics and SK Hynix memory chips.
Data center electricity needs drive renewable energy stocks like OCI Holdings.
Korean bank stocks benefit from positive earnings and rate hike expectations, with KB Financial leading.
Naver poised for recovery on AI data center momentum and reasonable valuation.
KOSPI has bottomed and is trending higher; investors should hold through dips.
KOSDAQ remains fragile with low volume and weakness across secondary batteries, biotech, and robotics.
Geopolitical risks and high oil prices are key uncertainties, but domestic fundamentals remain solid.

Ideas

Yoon Jeong-sik Managing Director 2:52

Data center growth lifts renewable energy plays

Data center electricity demand is surging, and since building enough nuclear plants is unrealistic, renewable energy and ESS (energy storage) will be needed to power them. Domestic Korean renewable energy companies, such as OCI Holdings, stand to benefit from this trend, with improving sentiment and positive news flow supporting their stocks.

Yoon Jeong-sik Managing Director 9:40

KOSPI bottomed, maintain long positions

The KOSPI index has clearly bottomed and is gradually trending higher, with the 120-day moving average acting as support. Although trading volume is still low, the upward chart pattern is intact and fundamentals remain supportive. Investors should hold positions even if the index dips below the 7,000 level again, as the recovery trend is likely to continue.

Yoon Jeong-sik Managing Director 17:39

AI capex drives Samsung, SK Hynix upside

AI capex expansion by big tech firms like Google, despite near-term free cash flow concerns, signals strong confidence in future returns from AI infrastructure. Google's cloud strength and positive capex outlook directly benefit memory chip demand, yet the domestic market has not fully priced in the upside for Samsung Electronics and SK Hynix, leaving room for further gains.

Yoon Jeong-sik Managing Director 21:16

Rate hikes and earnings boost bank stocks

Korean bank stocks are performing well due to positive earnings and rising interest rates, which improve net interest margins. Among them, KB Financial is showing the strongest relative strength, but the whole sector is benefiting from these tailwinds.

Yoon Jeong-sik Managing Director 21:42

Naver set for upside on AI, undervaluation

Naver has been under pressure since the Line divestiture but its valuation is not expensive and earnings are solid. The company retains AI and data center momentum, and additional catalysts like Naver Financial and potential Dunamu merger support a medium-term upside, with recent pullbacks seen as profit-taking rather than trend reversal.

Yoon Jeong-sik Managing Director 25:51

KOSDAQ is vulnerable, avoid for now

KOSDAQ remains structurally weaker than KOSPI. Trading volume has collapsed to around 5 trillion won, and key sectors such as secondary batteries, biotech, semiconductor equipment, and robotics are all declining. Investors should remain cautious and avoid aggressive bets until conditions improve.

Hold Rather Than Sell Now? The Most Important Checkpoints in a Rebound Market | Yoon Jeong-sik, Baro Asset Management Managing Director

Summary

Ideas

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