Price Adjustment Is Over" Short-Term Oversold Stocks and KOSDAQ Rebound Scenario Picked by Manager Lee Jae-gyu | Myeong Min-jun, Park Ga-young, Lee Jae-gyu [Stock Beginner Rescue Team]

Summary

Lee Jae-gyu of SK Securities argues that the sharp market correction is largely over and positions for a rebound, favoring KOSDAQ over the over-concentrated large-cap semiconductor trade. He recommends Samsung Electronics over SK Hynix, suggests KOSDAQ 150 ETF, advises sticking to Samsung Biologics and Celltrion in biotech, and warns against speculative biotech names HLB and Peptron.

• KOSPI and KOSDAQ corrections were driven by supply/demand, not structural or macro problems; price adjustment is mostly complete but consolidation may take time.
• Samsung Electronics is preferred over SK Hynix for a semiconductor rebound due to cheaper valuation, improving foundry, and lower volatility.
• SK Hynix remains fundamentally undervalued vs. Micron; hold through ADR listing volatility.
• KOSDAQ is exceptionally oversold with extreme divergence from KOSPI; a rotation of funds from large-cap semis into KOSDAQ is likely, making KOSDAQ 150 ETF attractive.
• Korean biotechs are lagging US biotech indices at record highs; convergence is expected, and the safest plays are profitable large caps Samsung Biologics and Celltrion.
• HLB faces a third FDA rejection due to Chinese partner issues, breaking its investment case.
• Peptron's expected obesity drug tie-up with Eli Lilly appears off the table, invalidating the main catalyst; the stock is a sell/avoid.
• Semiconductor equipment sector lacks earnings momentum and is not cheap enough to warrant new buying.