Foreigners' Futures Buying Has Reached Its Limit…Why You Should Be Wary of Chasing Soaring Stocks Ahead of Option Expiration Day

Foreigners' Futures Buying Has Reached Its Limit…Why You Should Be Wary of Chasing Soaring Stocks Ahead of "Option Expiration Day" | Myeong Min-jun, Park Ga-young, Hwang Yu-hyeon [Stock Beginner Rescue Team]
Watch on YouTube ↗  |  September 04, 2026 at 12:30  |  51:17  |  3PRO TV (삼프로TV)
Speakers
Hwang Yoo-hyun — Private Banker Team Lead, NH Investment & Securities

Summary

The Korean market rebounded, but Hwang Yu-hyeon cautions against getting overly excited. He expects KOSDAQ to remain stronger than KOSPI near term into year-end, with semiconductor equipment, robot, cosmetics ODM and biotech names active. Next week's quadruple option and futures expiration and foreigners' futures positioning near 28,000 contracts limit further explosive upside, so he favors buying dips in preferred sectors rather than chasing another surge.

  • KOSPI and KOSDAQ rebounded, but trading value was much stronger in KOSDAQ.
  • Next week includes quadruple witching on September 10, with foreign futures net longs near 28,000 contracts.
  • He prefers KOSDAQ over KOSPI near term and into year-end.
  • Favored groups include semiconductor equipment and materials, robot leaders such as Robotis, cosmetics ODM names and Korean biotech.
  • He warns against chasing another sharp rally and prefers buying dips or waiting.
  • SK Hynix may become more interesting after its buyback ends and earnings season arrives in October.
  • Oil is expected to stay supported near term until the Hormuz Strait bottleneck clears.
Ideas
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 8:43
KOSDAQ likely stronger than KOSPI.
KOSDAQ is likely to remain stronger than KOSPI next week and through year-end because retail investors are concentrated there, KOSDAQ trading value rose about 30% while KOSPI trading value fell, money has rotated out of large-cap semiconductor and leveraged ETF trades into KOSDAQ sectors such as robots and small-cap semiconductor equipment, and the KOSPI still lacks a strong large-cap theme.
KOSDAQ Index HIGH
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 17:57
KOSPI chase risk near option expiration.
Next week is quadruple witching on September 10, and foreign investors have rebuilt cumulative KOSPI futures net longs to about 28,000 contracts, near their typical +/-30,000 contract band and close to their historical cap near 40,000. That leaves only about 10,000 contracts of buying room, so if another sharp rally occurs on good news, foreigners are more likely to take profits and the KOSPI could see correction or time-based consolidation instead of explosive upside.
EWY HIGH
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 20:15
Buy cosmetics ODM on dips.
Cosmetics ODM leaders such as Korea Kolmar, Cosmecca Korea and Cosmax are undergoing short-term profit-taking after sharp gains, but the investment story and earnings are not broken. He views them as having inverse-like defensive strength when the broader market wobbles and would prefer to approach them on dips next week.
Cosmecca Korea 161890.KS Cosmax MED
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 21:30
Hold Korean semiconductor equipment/materials.
Korean semiconductor equipment and materials small caps are the biggest beneficiaries of the semiconductor capex cycle and should be held. Names such as PSK Holdings, EO Technics, Jusung Engineering and Hanmi Semiconductor made new highs and are buyable today, though chasing another spike next week would be dangerous.
036930.KQ 042700.KS 031980.KQ 030200.KQ HIGH
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 25:01
Robotis leader; hold to ten trillion won.
Robotis made a high-volume green candle and attempted an upper limit, indicating real money inflow and the start of robot small-cap leadership. He says he will not sell Robotis until its market cap reaches about 10 trillion won, versus roughly 4.4 trillion now.
108490.KQ HIGH
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 26:39
Korean biotech bottoming on rate catalysts.
Korean biotech sentiment has already deteriorated about as much as it can with rates near a peak, so the sector has limited room for further sentiment damage. Licensing-out news or lower and more stable rates could quickly trigger moves in many biotech names.
Korean Biotech MED
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 28:43
Watch secondary battery ESS for growth.
Next year's growth is likely to come from ESS and secondary battery names such as Samsung SDI, LG Energy Solution and SK Innovation rather than from already well-known AI memory growth. He sees these as worth watching as the market broadens away from a narrow AI semiconductor trade.
006400.KS 096770.KS LOW
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 31:56
Oil supported near term, not crashing.
Oil prices are unlikely to fall sharply near term because the Hormuz Strait is still not fully reopened and countries need to refill depleted strategic reserves. A genuine move toward downward oil price stabilization is more likely if the Hormuz bottleneck opens more fully, but that is not yet the base case.
WTI MED
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 37:20
SK Hynix may rise after buyback.
SK Hynix is being held back while its buyback program lasts because foreign investors can sell into that bid without hitting the price. He thinks the stock may start rising after the buyback ends around early October, with earnings season and potential foreign re-entry as catalysts, though he acknowledges this is partly hope rather than certainty.
000660.KS LOW
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This 3PRO TV (삼프로TV) video, published September 04, 2026, features Hwang Yoo-hyun discussing KOSDAQ Index, EWY, Cosmecca Korea, 161890.KS, Cosmax, 036930.KQ, 042700.KS, 031980.KQ, 030200.KQ, 108490.KQ, Korean Biotech, 006400.KS, 096770.KS, WTI, 000660.KS. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Hwang Yoo-hyun  · Tickers: KOSDAQ Index, EWY, Cosmecca Korea, 161890.KS, Cosmax, 036930.KQ, 042700.KS, 031980.KQ, 030200.KQ, 108490.KQ, Korean Biotech, 006400.KS, 096770.KS, WTI, 000660.KS