The third quarter before midterm elections is a regular bargain sale every year

Summary

Park Se-ik of Chesley Investment Advisory argues that the third quarter before US midterm elections is historically a regular bargain-sale period for Korean equities, especially KOSDAQ. He highlights even-year KOSDAQ weakness turning after July-September and a 10-year moving-average buy signal. He also discusses US-China supply-chain realignment benefiting Samsung Electronics and SK hynix, tight diesel markets supporting Korean refiners, an overdone oil-spike fear, the art market's improving value, and continued AI/GPU demand.

• Park Se-ik sees the pre-midterm third quarter as a recurring buying opportunity for Korean equities.
• KOSDAQ even-year seasonality and the 10-year moving-average break support a bullish KOSDAQ stance.
• US-China supply-chain realignment favors Korean semiconductor names like Samsung Electronics and SK hynix.
• Tight global diesel/product markets are seen as supportive for Korean refiners.
• The speaker downplays the risk of a sustained oil price spike.
• The global art market is described as more attractive after a 16% correction and rising high-net-worth allocations.
• AI and AGI compute demand are expected to keep growing, supporting AI infrastructure and semiconductors.
• Political noise around US midterms is not expected to derail post-election equity rallies.