Real Market: SK Hynix ADR surged 9% then collapsed again — the real reason / China AI Kimi K3 appears … US in ultra-emergency due to second DeepSeek shock

Summary

Director Lee Ju-yeon analyzes the sharp decline in US and Asian tech stocks driven by fears over China's Kimi K3 AI model, geopolitics, and options expiry. She argues the selloff is mainly supply/demand-driven and fundamentals are unchanged, seeing next week's big-tech earnings as a potential catalyst for a rebound. She highlights defensive plays in refining and consumer/beauty sectors and recommends buying oversold SK Hynix and KOSDAQ index for a risk/reward advantage.

• US and Asian markets plunged led by semiconductors after China's Kimi K3 model triggered a second 'DeepSeek shock' and geopolitical tensions rose.
• SK Hynix ADR spiked 10% then gave back gains; massive call buying suggests strong conviction for a 40%+ upside.
• KIMI K3 fears are overblown — the ultra-large model requires enormous memory and networking, supporting HBM and DRAM demand.
• Next week's Alphabet, Tesla, and Intel earnings are critical events that could confirm a market bottom.
• Refining stocks (S-Oil, GS, SK Innovation) act as defensive plays with earnings support and geopolitical tailwinds.
• Consumer/beauty stocks like Korea Kolmar and Cosmax benefit from surging foreign tourism and offer relative safety.
• KOSDAQ index is a convenient proxy for bottom-fishing in heavily beaten biotech and secondary battery sectors with favorable risk/reward.