Ideas
Buyback-end panic likely overdone.
The fear that Korean stocks will collapse after Samsung Electronics and SK hynix buybacks end is likely overdone. Historically, foreigners often sell into buyback periods, and after buybacks finish, supply-demand conditions improve rather than worsen. Also, foreign and long-term funds may execute purchases before September 30 to receive dividends from Samsung and other value-up names, supporting flows even before the buybacks end.
Oracle validates AI demand.
Oracle is a leading indicator for AI momentum because it was the first major AI-linked name to fall when investors feared capex would exceed revenue. Its latest results showed better-than-expected data center and cloud revenue, and the stock rose about 6% after hours despite only a modest revenue beat, reducing a key AI-market fear.
AI semiconductor earnings look strong.
AI-exposed semiconductors still have the most reliable earnings momentum. TSMC's August revenue hit a record, DRAM and NAND prices are firm or rising, and HBM4 expectations should begin showing up in earnings from mid-September, making the next semiconductor earnings season likely strong.
AI semiconductor earnings look strong.
The Korean market tracks the semiconductor cycle closely because Samsung Electronics is such a large index weight. Semiconductor cycles are usually weak until the bottom, with consumer demand strongest in December; before November, an uptrend often begins in October. This supports Korean semiconductors starting to rise from October.
US equities may rise into expiry.
The US CPI and simultaneous futures-options expiry may not be as dangerous as feared. CPI is likely to stay within expectations, and with Oracle's positive AI read-through, US equities could form a high before the expiry rather than break down. The event risk is being overpriced.
Monitor Big Tech option volatility.
Big Tech call option positioning has repeatedly caused sudden volatility near option expirations, so it remains a key risk to monitor. However, this time the expiry is a simultaneous futures-options expiry, and he expects less volatility than during the recent single-stock option episodes.
Stay with AI leaders over defensives.
It is not yet time to rotate into defensive stocks. Even when US leading stocks wobble, defensive sectors do not necessarily rise. The market remains driven by AI momentum, so AI leaders in semiconductors and power equipment should remain the portfolio core, though with lower weight.
Stay with AI leaders over defensives.
It is not yet time to rotate into defensive stocks. Even when US leading stocks wobble, defensive sectors do not necessarily rise. The market remains driven by AI momentum, so AI leaders in semiconductors and power equipment should remain the portfolio core, though with lower weight.
Add consumer and rate-hike beneficiaries.
As AI leaders stabilize, the market can broaden to consumer cyclicals and rate-hike beneficiaries. He recommends including some of these areas in the portfolio alongside the core AI-momentum exposure.
October rally may start early.
After September futures-options expiry and Chuseok, October should bring preparation for year-end, third-quarter earnings, and US midterm-related spending. The October backdrop looks favorable, and because the July-August crash was severe, the usual mid-October buying window may arrive earlier this year.
Preempt infrastructure spending beneficiaries.
Trump administration policies point to spending being poured into infrastructure-related areas. These sectors are increasingly visible even if not yet fully reflected in prices, so September is a valid time to preemptively position in infrastructure beneficiaries.
This 815 Money Talk (815머니톡) video, published September 13, 2026,
features Lee Ji-hwan
discussing 005930.KS, 000660.KS, ORCL, TSM, SMH, SPY, XLK, Power equipment, AI Semiconductors, XLP, Rate-hike beneficiaries, XLY, EWY, PAVE.
11 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Lee Ji-hwan
· Tickers:
005930.KS,
000660.KS,
ORCL,
TSM,
SMH,
SPY,
XLK,
Power equipment,
AI Semiconductors,
XLP,
Rate-hike beneficiaries,
XLY,
EWY,
PAVE
