US-led semiconductor plunge! Checking domestic market response strategy after foreign investors' 8 trillion sell-off

Summary

Park Se-ik analyzes the Korean market after foreign investors sold a record combined 8 trillion won in KOSPI cash and futures. He flags bearish foreign positioning in Samsung Electronics and SK hynix, but also notes heavy foreign buying of Korean banks on value-up and dividend themes. He views the Korean won as unlikely to weaken based on that bank buying, criticizes Hyundai Motor's robot multiple, and presents a detailed dip-buy thesis on PharmaResearch with a potential rebound to 500,000-600,000 won by June.

• Foreign investors sold a record combined 8 trillion won in KOSPI cash and futures, with additional KOSDAQ selling and put-option buying.
• Samsung Electronics and SK hynix saw consecutive foreign selling, suggesting a near-term bearish semiconductor setup.
• Korean bank stocks attracted strong foreign buying on value-up policy and high dividend expectations.
• Foreign bank buying was interpreted as a signal that the Korean won is not expected to weaken.
• Hyundai Motor's robot-related valuation premium was criticized as unjustified.
• PharmaResearch was analyzed in depth with a possible further dip to around 312,000 won before a rebound to 500,000-600,000 won by June.
• Many other stocks were reviewed only for foreign/institutional flow without distinct trade theses.