June 26 Closing Market Conditions: Semiconductor materials, parts, and equipment stocks held up even in a sharp decline. What is the market looking at? | Hong Seonae, Park Myeongseok, Kim Jangyeol [Closing Bell Live]

Summary

The June 26 session saw a severe sell-off (KOSPI -5.8%, KOSDAQ -4.1%) triggered by Apple's warning about chipflation, combined with quarter-end rebalancing and foreign selling. Despite the rout, Korean semiconductor front-end equipment names rallied on policy-driven investment acceleration. Kim Jangyeol and Park Myung-seok stressed that memory fundamentals are intact, valuations are cheap, and dips in Samsung Electronics and SK hynix are buying opportunities, while macro headwinds from a strong dollar and high rates pressure non-semiconductor large caps.

• KOSPI plunged 5.8% and KOSDAQ 4.1% amid chipflation fears and year-end rebalancing.
• Apple's warning on soaring memory costs sparked concern about big tech margins, but memory makers benefit from tight supply.
• Semiconductor equipment stocks (Wonik IPS, PSK, HPSP, Yujin Tech, Tes) surged on Samsung's front-end investment pull-forward and upcoming government mega-project.
• Kim Jangyeol reiterated a strong buy-the-dip thesis on Samsung Electronics, citing a 7x PER floor around 330,000 KRW and robust earnings outlook.
• He also flagged SK hynix as a buy near 2.6 million KRW, supported by the same memory super-cycle.
• Park Myung-seok highlighted macro risks: a strong dollar and high US rates driving foreign outflows from non-chip large caps.
• Upcoming catalysts include the June 29 government AI/semiconductor policy announcement and US employment data.
• No compelling rotation candidates outside semiconductors were identified; the broad market remains heavily correlated with memory.