July 30th Closing Market Review: Bond Vigilantes Moved... Hidden Variable to Determine Semiconductor Stock Prices

Summary

The market grapples with bond vigilante dynamics as long-end yields rise, pressuring high-multiple tech stocks. Kim Jangyeol sees hope in oversold US semiconductor equipment and warns on overvalued Korean tech names. Lee Kwon-hee points to relative opportunities in shipbuilders, game stocks, cosmetics, and battery value play LG Energy Solution.

• Market under pressure from bond vigilantes; bond yields rising despite Fed hold, repricing high-multiple stocks.
• Kim Jangyeol interprets LTA protection floor as double-edged, possibly signaling future memory margin erosion.
• Lee Kwon-hee highlights specific movers: shipbuilders on US project, Krafton on record earnings, LG Household & Health Care turnaround, SK Innovation refining strength.
• Kim Jangyeol sees bounce potential in US semiconductor equipment after strong Lam Research results.
• Samsung Electronics conference call positive but shareholder return plans disappoint.
• Korean retail investors showed capitulation selling while foreigners bought cautiously.
• Leverage ETF regulations discussed, expected to dampen trading activity.