May Semiconductor Exports Again 'Record-Breaking,' Buying Timing Seen Through Export Data! | Shinhan Securities Dr. Kim Hyo-jin [Global Interview]

Summary

Dr. Kim Hyo-jin of Shinhan Securities analyzes May Korean export data, showing semiconductor exports up 200% YoY. He argues this underpins the fundamental strength of Korean semiconductor stocks (Samsung Electronics, SK Hynix) and that the current rally is supported by real demand and long-term contracts. He also addresses the won's persistent weakness, calling it healthy due to corporate dollar retention and capex, and warns of upcoming BOJ and FOMC meetings as potential volatility triggers.

• May semiconductor exports surged 200% year-on-year; total exports up 65%.
• Export strength supports bullish view on Korean semiconductor stocks.
• Long-term contracts reduce cyclical risk for Samsung and SK Hynix.
• Won weakness explained by corporates not converting export dollars and oil import disruptions.
• Micron's strong earnings confirm AI demand broadening across memory.
• BOJ meeting in June poses a key risk to global rates via yen carry trade.
• First FOMC under new Chair Warsh (6/18) also important but expected to be cautious.
• Host announces launch of Samsung/SK Hynix leveraged ETFs but Dr. Kim does not endorse them.