Investor sentiment wavers amid surging and plummeting semiconductor stocks... Ultimately, stock prices move with earnings

Investor sentiment wavers amid surging and plummeting semiconductor stocks...Ultimately, stock prices move with earnings | Yeo Doe-eun, Heo Jae-mu, Park Ji-hoon, Jeong Yeo-gyeong [Morning N Investment]

Watch on YouTube ↗ | July 15, 2026 at 02:36 | 50:48 | 3PRO TV (삼프로TV)

Speakers

Park Ji-hoon — Director, Asset Management Consulting Dept., NH Investment & Securities

Jeong Yeo-gyeong — Analyst

Summary

NH Investment Director Park Ji-hoon delivers a bullish call on Korean semiconductors, power equipment, and the KOSPI index, emphasizing record orders, cheap valuations, and a technical double-bottom setup. Analyst Jeong Yeo-gyeong adds a bullish view on KRW appreciation driven by SK Hynix ADR flows and on Korean cosmetics stocks supported by European demand.

Park Ji-hoon argues SK Hynix and Samsung Electronics are cheap, with strong earnings and shareholder returns.
He expects KOSPI to rally in a March-April-style double-bottom pattern backed by earnings.
Power equipment and nuclear stocks have orders booked through 2029 and have corrected significantly.
Jeong Yeo-gyeong forecasts KRW strengthening to the mid-1,400s on massive SK Hynix ADR conversion flows.
Korean cosmetics exports are increasingly driven by European demand, cushioning the impact of higher US tariffs.
Semiconductor exports are seasonally soft but expected to re-accelerate sharply in September.
US CPI and employment data support a pause in rate hikes, favorable for Korean exports and equities.

Ideas

Park Ji-hoon Director, Asset Management Consulting Dept., NH Investment & Securities 4:51

Power equipment orders full through 2029.

Global power demand from AI and data centers is driving massive orders. Gas turbine orders are already full through 2029, and nuclear projects are accelerating. Korean power equipment and nuclear stocks such as Doosan Enerbility, KEPCO, Hyosung Heavy Industries, LS Electric, and HD Hyundai Electric have pulled back significantly from highs, offering an attractive entry point given the multi-year order visibility.

Park Ji-hoon Director, Asset Management Consulting Dept., NH Investment & Securities 9:25

ADR gap closing, valuation cheap.

SK Hynix’s LTA contracts actually reduce earnings volatility, not limit it. The stock trades at a cheap forward PER below 4x. The ADR surged 27%, creating a wide gap to the local shares that should close. Earnings growth remains strong, with HBM demand set to grow 5-6x by 2030, and the company has up to 250 trillion won in potential shareholder return capacity through 2027.

Park Ji-hoon Director, Asset Management Consulting Dept., NH Investment & Securities 13:07

Samsung cheap, strong earnings, buybacks.

Samsung Electronics faces no earnings noise, trades at a forward PER below 4x, and has huge shareholder return potential. Moreover, legacy DRAM prices are currently higher than HBM prices, which means Samsung may outperform SK Hynix on earnings through the first half of next year.

Park Ji-hoon Director, Asset Management Consulting Dept., NH Investment & Securities 18:28

KOSPI double bottom rally imminent.

The KOSPI bounced off the 120-day and 20-week moving averages, forming a pattern similar to the March–April double bottom that preceded a strong rally. With earnings and valuations providing support, foreign selling pressure easing, and institutional wrap-account inflows expected, the index is poised to resume its upward trajectory.

Jeong Yeo-gyeong Analyst 36:35

KRW to strengthen on Hynix flows.

SK Hynix’s ADR listing will bring roughly USD 26 billion of dollar sales into Korea over the next two months as those proceeds are converted to KRW. This flow is expected to push USD/KRW from the 1,480 area down to the mid-1,400s by the end of Q3, strengthening the won significantly.

Jeong Yeo-gyeong Analyst 44:13

Cosmetics resilient on European growth.

While US tariffs on Korean goods may rise from 12.5% to 15% in late July, Korean cosmetics exports are increasingly driven by European demand. Sales through retailers like Boots in the UK are surging, catching up to US volumes. The sector's fundamentals will shine despite the tariff headwinds.

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This 3PRO TV (삼프로TV) video, published July 15, 2026, features Park Ji-hoon, Jeong Yeo-gyeong discussing 034020.KS, 015760.KS, 298040.KS, 010120.KS, 267260.KS, 000660.KS, 005930.KS, EWY, KRW, KORU. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Ji-hoon, Jeong Yeo-gyeong · Tickers: 034020.KS, 015760.KS, 298040.KS, 010120.KS, 267260.KS, 000660.KS, 005930.KS, EWY, KRW, KORU