A July market no one has experienced, individual investors hurt too much; Samsung Electronics and SK Hynix real reason for another sharp drop; next week's leading stock?

Summary

Hwang Yuhyun, a team leader at Shinhan Investment, explains the extreme July volatility and margin debt collapse in Korean equities, driven mainly by sharp losses in Samsung Electronics and SK Hynix. He expects a short-term technical rebound in KOSPI toward 7,300 and a range-bound recovery in SK Hynix toward 210,000 KRW, while KOSDAQ’s oversold ‘empty house’ condition favors a stronger bounce and new leadership emergence. Looking ahead, he focuses on semiconductor equipment, robotics, and biotech as sectors that can lead the next phase, but cautions investors to preserve cash and avoid aggressive index exposure.

• July Korean equity volatility was historic, with margin credit balance dropping 10% in a single day, causing severe individual investor damage.
• The collapse was largely driven by sharp falls in Samsung Electronics and SK Hynix, while leveraged ETF speculation also inflamed moves.
• KOSPI technical analysis points to a short-term target of 7,300 points (50% retracement) with 6,000 as a major washout support that held.
• SK Hynix faces grinding recovery with heavy overhead resistance, likely trading between 150,000 and 210,000 KRW.
• KOSDAQ is extremely oversold and stripped of leverage, making it a ‘empty house’ primed for fast bounces and thematic leadership.
• Emerging leaders are expected from semiconductor equipment, robotics, and biotech as the market normalizes and growth stories resurface.
• The speaker urges cash conservation and warns against aggressive chasing of the broad index during the stabilization phase.