Foreigners dumped 2 trillion won in leading stocks for two straight days: Is the bull market ending? Growing fear of a sharp decline | Kim Dong-yeop, CEO

[#찐시황] 이틀 연속 주도주를 2조 던진 외인 "상승장은 끝나가고 있는 걸까?" 커지는 급락장에 대한 공포ㅣ김동엽 대표

Watch on YouTube ↗ | January 30, 2026 at 11:01 | 35:47 | 815 Money Talk (815머니톡)

Speakers

Kim Dong-yeop — CEO, Decenter

Summary

Kim Dong-yeop, CEO of E&S Investment Research, reviewed a highly volatile Korean market on January 30. He said retail liquidity and ETF flows remain powerful, favoring KOSDAQ and large-cap semiconductors, while foreign selling and AI-bubble concerns are near-term risks. He kept a constructive first-half outlook, targeting KOSPI around 6,000 by end-June, and highlighted robotics, aerospace, nuclear power, securities, venture capital, and selected biotech as key themes. He also flagged oil, LNG, and LPG upside risk from cold weather and Iran/Hormuz tensions.

Korean equities saw extreme intraday volatility, with KOSPI closing near flat and KOSDAQ weakened by large biotech noise.
Retail money and ETF inflows, especially the KOSDAQ 150 leverage ETF, were described as powerful supports for index and top-weighted KOSDAQ names.
Semiconductors remained the clearest leadership theme, with Samsung Electronics, SK hynix, and equipment/materials names supported by strong earnings expectations.
The speaker favored KOSDAQ relative to KOSPI and kept a first-half KOSPI target near 6,000 by end-June.
Robotics, aerospace, nuclear/power, securities, venture capital, and quantum computing were highlighted as thematic opportunities.
Microsoft AI capex concerns, foreign selling in KOSPI leaders, Fed chair uncertainty, tariffs/FX, and Middle East tensions were identified as risks.
Oil, LNG, and LPG were seen as upside-risk commodities due to cold weather and possible Hormuz disruption.
ABL Bio was explicitly avoided due to clinical delay, while other biotech dips were viewed as buyable.

Ideas

Kim Dong-yeop CEO, Decenter 4:49

Memory upcycle drives Samsung, SK hynix

Samsung Electronics and SK hynix reported record-level fourth-quarter results that are just a preview: first- and second-quarter profits are expected to roughly double. SK hynix rose 6-7% to a new high near 1 million won, and large-cap semiconductors have steadily made new highs, supporting the market.

Kim Dong-yeop CEO, Decenter 5:38

Space catalysts drive Korean aerospace rally

SpaceX's expected June IPO, the Artemis 2 launch next week, Nuri 5 in the third quarter, and a Korean microsatellite payload create a sustained aerospace/space theme. He sees aerospace as one of the hottest first-half sectors and expects related value-chain names to stay strong.

Kim Dong-yeop CEO, Decenter 5:53

Robotics remains leading Korean sector

Musk's shift from EVs toward humanoid robots, Samsung's pledge of meaningful humanoid progress, and Hyundai's leadership keep Korean robotics a leading sector. He especially recommends watching surgical robotics.

Kim Dong-yeop CEO, Decenter 7:07

Retail ETF flows support KOSDAQ large caps

Retail investors are almost all-in on the KOSDAQ 150 leverage ETF, and he expects those flows to remain resilient. Because ETF inflows automatically buy top KOSDAQ constituents, this should keep large KOSDAQ names supported and limit index downside.

Kim Dong-yeop CEO, Decenter 7:28

Microsoft AI capex fuels bubble concerns

Microsoft's heavy AI chip spending and unclear breakeven point have made it the center of AI bubble concerns, contributing to tech weakness. He thinks the market should pay attention to this risk.

Kim Dong-yeop CEO, Decenter 8:11

ABL Bio clinical delay warrants avoiding

ABL Bio's clinical-development delay, reportedly tied to Sanofi, is expected to take years and creates company-specific difficulty. He has crossed ABL Bio out and avoids it.

Kim Dong-yeop CEO, Decenter 13:19

Capex expands Korean semiconductor equipment demand

As Samsung Electronics and SK hynix expand capacity, Korean semiconductor equipment and materials suppliers benefit. He highlighted late-week double-digit gains in test-socket, equipment, substrate, and semiconductor-parts names such as Leeno Industrial, Eugene Technology, Daeduck Electronics, KCE, and SFA Semicon.

Kim Dong-yeop CEO, Decenter 13:42

Cold and Iran risk lift energy

Severe cold in the US and Europe is lifting LNG and LPG prices, while Iran-related tensions raise the risk of a Hormuz Strait blockade and an oil spike. He sees energy prices biased upward on these supply and geopolitical risks.

Kim Dong-yeop CEO, Decenter 27:53

KOSDAQ relative strength, government reform supports rally

KOSDAQ has lagged KOSPI over the past year and should attract more focus as the government promotes a KOSDAQ 3,000 agenda and individual ETF flows keep supporting top-weighted names. He expects KOSDAQ to make at least the 1,200 level before the Lunar New Year holiday, even if early February brings a time correction.

Kim Dong-yeop CEO, Decenter 30:12

IPO wave benefits Korean venture capital

The government's KOSDAQ 3,000 push and a likely surge in IPOs should make venture capital firms with large pre-IPO stakes major beneficiaries as their equity holdings revalue.

Kim Dong-yeop CEO, Decenter 30:27

Securities firms benefit from surging trading

Surging trading volume, the commercial law amendment including mandatory treasury-share cancellation, and active capital markets mean securities firms earn fees regardless of direction. He expects Korean securities stocks to continue their new-high rally.

Kim Dong-yeop CEO, Decenter 32:50

Non-ABL biotech dips are buyable

ABL Bio's clinical delay is company-specific and should not drag down the rest of the Korean biotech sector. Other biotech stocks are viewed as buy-on-dip candidates.

Kim Dong-yeop CEO, Decenter 33:06

Mirae Asset has SpaceX stake upside

Within the strong securities group, Mirae Asset Securities additionally has SpaceX equity stake value, giving it a distinct upside catalyst.

Kim Dong-yeop CEO, Decenter 33:34

AI power demand favors nuclear

AI cannot run without nuclear and power energy, and Korea's energy-mix policy is shifting toward nuclear as unavoidable. He says Doosan Enerbility, BHI, and Woojin continue to deserve attention.

Kim Dong-yeop CEO, Decenter 33:53

Quantum commercialization watch by year-end

Meaningful commercial quantum-computing models are expected by the end of the year, making the theme worth monitoring.

Kim Dong-yeop CEO, Decenter 35:18

KOSPI uptrend intact, 6000 target by June

Despite extreme volatility and a possible February dip below 5,000, Kim sees the Korean equity uptrend intact at least through the first half. Retail liquidity remains strong, and he expects KOSPI to finish around 6,000 by late June after briefly reaching around 5,200-5,300.

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This 815 Money Talk (815머니톡) video, published January 30, 2026, features Kim Dong-yeop discussing 000660.KS, 005930.KS, Korean aerospace/space, Korean Robotics, Surgical robotics, 005380.KS, 233740.KS, MSFT, 298380.KQ, Korean semiconductor equipment/materials, WTI, LNG, LPG, KOSDAQ Index, Korean venture capital firms, Korean securities firms, Korean biotech stocks (ex-ABL Bio), 006800.KS, URA, 034020.KS, BHI, Woojin, QUBT, EWY. 16 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kim Dong-yeop · Tickers: 000660.KS, 005930.KS, Korean aerospace/space, Korean Robotics, Surgical robotics, 005380.KS, 233740.KS, MSFT, 298380.KQ, Korean semiconductor equipment/materials, WTI, LNG, LPG, KOSDAQ Index, Korean venture capital firms, Korean securities firms, Korean biotech stocks (ex-ABL Bio), 006800.KS, URA, 034020.KS, BHI, Woojin, QUBT, EWY