The Most Psychologically Difficult September: Positions to Grab Early in a 'Weak Start, Strong Finish' Market | Myung Min-jun, Kim Ki-eun, Lee Ji-hwan

Summary

Lee Ji-hwan of Aurora Investment Advisory tells hosts Myung Min-jun and Kim Ki-eun that September should be weak early and strong late, and that investors should use the early chop to build positions before a likely late-September US infrastructure stimulus. He remains constructive on Korean equities, semiconductors, power equipment, construction/nuclear infrastructure, and consumer discretionary, while also making a long-term value case for Samsung Electronics and SK hynix. He separately argues investors should not fear Fed rate hikes because post-hike cycles have historically produced large Nasdaq gains.

• Lee expects a 'weak start, strong finish' Korean market in September after July's crash.
• He reads recent down-open high-close sessions as evidence of foreign accumulation, not distribution.
• He expects late-September US infrastructure-related stimulus and favors power equipment, construction, nuclear, and infrastructure names.
• He stays constructive on semiconductors as core leadership and specifically likes Samsung Electronics and SK hynix on valuation and shareholder returns.
• He sees consumer discretionary, cosmetics, and food as additional beneficiaries of stimulus-related inflows.
• He suggests watching Caterpillar after its sharp pullback within the infrastructure theme.
• He argues the rate-hike cycle should eventually be bought, citing Nasdaq's historical post-hike upside.