War, Oil Prices, and Interest Rates Nearing 5%... Why Is the Market Holding Up? Key Investments for Q4 | Park Byung-chang, MP Partners CEO

Summary

Park Byung-chang of MP Partners discusses a macro backdrop of expanding war, oil above $100, and long-term interest rates approaching 5%, yet US and Korean markets are holding up relatively well. He focuses on Q4 risk management, favoring core semiconductor holdings and selective short-term trading while avoiding weak chart setups. He also highlights bottom-confirmation technical setups and the emerging energy/infrastructure narrative, and warns on stocks that fail to rally on good news.

• War expansion and high oil prices keep inflation and rate risks elevated.
• Long-term US yields near 5% are pressuring markets, but equities remain resilient.
• Park sees more upside in Samsung Electronics and SK hynix; holds core, trades peripherals.
• Korean semiconductor equipment fundamentals are positive but valuations are stretched; trade short term.
• Energy, refining, and infrastructure stocks are gaining narrative attention.
• Technical bottom confirmation is favored; Samsung SDI, Hyundai E&C, and KEPCO E&C cited, while Doosan Enerbility needs more confirmation.
• Hanwha Aerospace and APR are avoided due to weak price response or chart damage.
• Key Q4 focus is risk management and response, not just stock picking.