Where Will KOSPI and KOSDAQ Go? Now Is a 'Wait-and-See Market' for Direction; This Week's Biggest Variable for the Korean Stock Market Is 'This' | Director Park Hyun-sang

Summary

Park Hyun-sang, Director of Jumeoni Investment Advisory, reviews a mixed session where KOSPI and KOSDAQ ended slightly higher despite intraday swings. He notes positive semiconductor export data and a sudden bounce in Samsung Electronics and SK hynix, but cautions that the market remains in a wait-and-see mode ahead of option expiry and US CPI. Investor fatigue is high, but he identifies specific opportunities in oversold sectors and stocks like Cosmecca Korea, BH, Yuhan, cosmetics, securities, power infrastructure, and shipbuilding.

• KOSPI and KOSDAQ closed with modest gains in a choppy, low-conviction session.
• An unexplained intraday surge lacked a clear catalyst, possibly driven by oversold conditions and option expiry dynamics.
• Semiconductor export data in early August was solid, with memory exports up 280% YoY and unit prices supportive.
• Samsung Electronics and SK hynix bounced sharply but remain below the 20-day moving average, with conviction still low.
• Investor fatigue is widespread, and many retail investors are cutting positions or reducing exposure.
• Positives include Cosmecca Korea’s strong earnings and upgrades, BH’s technical reversal, and Yuhan’s breakout.
• Oversold sectors favored include Korean cosmetics, securities, power infrastructure, and shipbuilding.
• Micron is highlighted as a potential US catalyst due to its technical consolidation.
• Near-term focus remains on macro events: US CPI, PPI, and Cisco earnings.