Holding to the previous high despite semiconductor peak theory... Automobiles and robots lead the next rise | Myeong Min-jun, Park Ga-young, Jeong Tae-geun

Summary

Jeong Tae-geun, Director at Mirae Economic Research Institute, reiterates his bullish KOSPI and semiconductor view and expects a move back to the previous high. He sees automobiles/robots and power equipment as the next leaders alongside semiconductors, while warning against chasing KOSDAQ and staying patient on secondary batteries and nuclear. He also emphasizes monitoring supply flows and DRAM exports to time the rally.

• Jeong maintains his July 31 bullish semiconductor call and says he is holding semiconductor positions.
• He expects KOSPI to challenge its prior high, using 2007 and Morgan Stanley's KOSPI 9,000 target as references.
• He identifies power equipment and Hyundai Motor/robot names as likely co-leaders with semiconductors.
• He advises caution on KOSDAQ due to weak trading value and deteriorating fund/investment trust supply.
• He says nuclear is unattractive until Palisade SMR news and secondary batteries need ESS revenue confirmation.
• He suggests monitoring DRAM exports and KOSPI/KOSDAQ supply flows for timing.