Three Negatives Hit... Why Didn't the Korean Stock Market Collapse? / 'This Stock' That Money Flows Into Even in a Market With No Leading Stocks | Team Leader Hwang Yu-hyeon

[Real Market Conditions] Three negatives hit... Why didn't the Korean stock market collapse? / 'This stock' that money flows into even in a market with no leading stocks | Team Leader Hwang Yu-hyeon
Watch on YouTube ↗  |  September 17, 2026 at 11:00  |  24:39  |  815 Money Talk (815머니톡)
Speakers
Hwang Yoo-hyun — Private Banker Team Lead, NH Investment & Securities

Summary

Hwang Yu-hyeon, PB team lead at Shinhan Investment & Securities, reviews why the Korean market held up despite three negatives: post-expiry supply reversal, the AI speed-control debate, and the Fed's 25bp rate hike. He argues KOSPI downside is limited but the market lacks clear leaders, with low turnover causing narrow rotation. He highlights KOSDAQ semiconductor equipment/materials as the strongest area, names PSK Holdings and Wonik IPS, and points to power/nuclear infrastructure as a key bottleneck. He also discusses KOSDAQ vs KOSPI relative strength, data-center-related batteries and platforms, lagging renewables, and cosmetics ODM trading tactics.

  • The Fed hiked rates 25bp; the market had largely pre-reflected it.
  • Korean equities held up despite supply reversal, AI speed-control debate, and rate hike.
  • Low trading value and no clear leading stocks are causing narrow rotation.
  • Semiconductor equipment/materials are the strongest KOSDAQ area.
  • Power shortage and nuclear/grid infrastructure are highlighted as AI bottlenecks.
  • KOSDAQ may outperform KOSPI into year-end on tax-related relative flows.
  • Data-center-related batteries/platforms and cosmetics ODMs are watchlist areas.
  • Hwang advises split buying/selling and waiting for leaders.
Ideas
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 6:50
KOSPI downside limited; wait for leaders.
Despite three consecutive negatives - post-expiry supply reversal, the AI speed-control debate, and the FOMC's 25bp rate hike - the Korean equity market held up well. Hwang views the market as resilient, sees a return to the 3,000 KOSPI area as unlikely given fundamentals and AI conditions, and expects a tedious sideways/consolidation period until a new leading sector emerges.
EWY HIGH
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 9:57
Semiconductor equipment/materials are KOSDAQ leaders.
Semiconductor equipment and materials are the strongest area in KOSDAQ. Active KOSDAQ ETFs, despite broad sector mandates, show top holdings concentrated in semiconductor names and equipment/materials, indicating asset managers are strongly positioned. Hwang notes 2026 earnings growth may moderate for IDMs but improve for some equipment/materials and battery names, so he focuses on relative-strength and new-high leaders in this group.
Korean semiconductor equipment/materials HIGH
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 13:01
PSK Holdings is strongest HBM equipment name.
PSK Holdings is one of the strongest equipment names, tied to HBM, and is making new highs. Hwang highlights it as a representative relative-strength leader in KOSDAQ semiconductor equipment/materials. He also warns that investment-warning designations can cap additional buying, so if a new-high stock receives such a warning, investors should consider trimming.
031980.KQ HIGH
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 13:38
Wonik IPS builds base on Hynix news.
After SK hynix's Intel-related news, Wonik IPS was among the strongest movers even though the company said it is still reviewing the matter. The stock remains below its prior high, but volume has picked up from the bottom and it has been consolidating sideways while others fell, building energy for a potential relative-strength move.
240810.KQ MED
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 15:58
Samsung SDI, LGES are data-center watch names.
Among Korean secondary battery names, EcoPro, EcoPro BM, L&F, and POSCO Future M are not showing relative strength, but Samsung SDI and LG Energy Solution are tied to data-center efficiency and ESS within the broader AI category. Hwang says these are names to keep holding/watch because they can spike on a single news-driven rotation.
006400.KS 373220.KS MED
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 16:21
SKT, NAVER are AI data-center watch.
SK Telecom and NAVER are AI data-center operators within the broad AI category. Although they are not doing well now, Hwang says they should remain on the watchlist because they are rotation candidates that can pop on a single news headline.
035420.KS 017670.KS MED
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 16:57
Power bottleneck favors nuclear and grid.
The most important bottleneck for AI and data centers is electricity. Solving it requires power generation, especially nuclear and gas turbines, as well as transmission, distribution, and cables. If investing in Korean nuclear/power infrastructure, Hwang points to Doosan Enerbility, Hyundai E&C, BHI, KEPCO E&C, and Daewoo E&C as the key equities.
000720.KS 083650.KQ 052690.KS 047040.KS Korean power infrastructure 034020.KS HIGH
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 18:50
Renewables lag; trade only main names.
Renewable energy is a supplementary part of the power-bottleneck theme, but it is lagging and less important than the main nuclear/power names. If market sentiment warms, CS Wind and OCI Holdings could rise, but Hwang says to trade only the main names for now.
112610.KS 010060.KS MED
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 21:48
KOSDAQ may outperform KOSPI year-end.
KOSDAQ has lagged this year and the year-end controlling-shareholder capital gains tax issue is more likely to pressure KOSPI. With low trading value and no clear leaders, Hwang thinks KOSDAQ may be relatively stronger than KOSPI toward year-end, especially if a new KOSDAQ-leading theme emerges.
KRX:KOSDAQ MED
Hwang Yoo-hyun Private Banker Team Lead, NH Investment & Securities 22:29
Trade cosmetics ODMs only on pullbacks.
Within Korean cosmetics, only ODM companies such as Korea Kolmar and Cosmax should be traded; makers have not rebounded. If growth stocks revive, cosmetics may not attract flows, so Hwang advises trading ODM names only on clear pullbacks rather than chasing early strength, because their earnings are decent but they may retest lows.
161890.KS 192820.KS MED
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This 815 Money Talk (815머니톡) video, published September 17, 2026, features Hwang Yoo-hyun discussing EWY, Korean semiconductor equipment/materials, 031980.KQ, 240810.KQ, 006400.KS, 373220.KS, 035420.KS, 017670.KS, 000720.KS, 083650.KQ, 052690.KS, 047040.KS, Korean power infrastructure, 034020.KS, 112610.KS, 010060.KS, KRX:KOSDAQ, 161890.KS, 192820.KS. 10 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Hwang Yoo-hyun  · Tickers: EWY, Korean semiconductor equipment/materials, 031980.KQ, 240810.KQ, 006400.KS, 373220.KS, 035420.KS, 017670.KS, 000720.KS, 083650.KQ, 052690.KS, 047040.KS, Korean power infrastructure, 034020.KS, 112610.KS, 010060.KS, KRX:KOSDAQ, 161890.KS, 192820.KS