Semiconductor Exports at All-Time High, So Why Is Samsung Electronics Plummeting? Is KOSDAQ Finally Starting to Rise?

Summary

Director Park Hyun-sang analyzes a sharp KOSPI drop amid high volatility on KOSDAQ, attributing the sell-off to quarter-end rebalancing, institutional profit-taking, and a mild earnings cut for Samsung Electronics. He highlights a market rotation from semiconductors into laggard sectors and identifies dip-buying opportunities in Samsung/SK Hynix, data-center-driven GS Construction, and power equipment stocks benefiting from mega infrastructure projects.

• KOSPI fell sharply while KOSDAQ remained volatile despite negative news from EcoPro BM.
• The sell-off is driven by quarter-end rebalancing, financial investment selling, and Samsung's 2Q earnings consensus cut.
• Samsung Electronics and SK Hynix are building a base; buying on dips is recommended for those without positions.
• GS Construction surged on a data center construction report, signaling re-rating of deeply oversold construction names.
• Power equipment stocks are gaining as the clearest play on government mega infrastructure projects, with the theme spreading to cables.
• Pension fund selling is expected to be gradual and not a major risk to the market.
• Rotation into renewable energy, defense, and shipbuilding is active but lacks strong individual theses.