Earnings vs. Macro? Ultimately, Growth Determines It — The Market's Changed Investment Calculation | Myeong Min-jun, Park Ga-yeong, Shin Hyeok-seung

Summary

Shin Hyeok-seung, CEO of Chohwa Partners, gives a tactical, chart-driven view of the KOSPI and KOSDAQ market. He sees the KOSPI at an important moving-average inflection and prefers KOSDAQ sector rotation over direct Samsung Electronics and SK hynix exposure. His favored spots are biotech and secondary batteries, while he watches robotics, semiconductor equipment/materials and nuclear power, and avoids cosmetics and GS. Park Ga-young offers a contrasting bullish view on GS as a holding company.

• Shin sees KOSPI at a technical inflection near the 60-day moving average; macro easing could unlock upside.
• He avoids direct Samsung Electronics and SK hynix positions, using them as a market barometer.
• He favors KOSDAQ rotation into biotech and secondary batteries.
• He is watching robotics and semiconductor equipment/materials as KOSDAQ's other core axes.
• He took profits in nuclear power and is monitoring the Westinghouse stake acquisition catalyst.
• He says to avoid cosmetics stocks and would avoid GS at current levels.
• Park Ga-young counters that GS should be viewed as a holding company with AI data center exposure, not just a refiner.
• He stresses flexible position sizing and mechanical selling over forecasting.