Conflicting Trends in Interest Rates and KOSDAQ…What's Happening in the Market Now? | Kim Dong-hoon, Noh Young-rae, Yeo Do-eun, Heo Jae-mu
Conflicting Trends in Interest Rates and KOSDAQ…What's Happening in the Market Now? | Kim Dong-hoon, Noh Young-rae, Yeo Do-eun, Heo Jae-mu [Morning N Investment]
Watch on YouTube ↗
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August 19, 2026 at 02:21
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52:14
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3PRO TV (삼프로TV)
Ideas
Monitor 10Y as key KOSPI driver
The US 10-year Treasury yield at around 4.7% makes risk-free assets more attractive relative to equities, and its negative correlation with the KOSPI has become much stronger. He says investors should check it daily, with the 4.5%-4.7% area currently acting as an uncomfortable risk zone.
Buy KOSPI on excessive dips
The KOSPI sell-off is overdone because valuations for the KOSPI, Samsung Electronics, and SK hynix remain at post-2020 lows; VKOSPI has fallen from historical highs around 96 to 55-60; single-stock leveraged ETF turnover collapsed from 17tn won to under 1tn won; foreigners returned to net buying in August; and market breadth is broadening beyond the semiconductor top-two. He says this is a buy-or-hold zone, not a sell zone.
Samsung, SK hynix valuations still compelling
Samsung Electronics and SK hynix valuations are still at cheap post-2020 levels, so he views this as a place to buy rather than sell. He adds that rate fear looks overdone because if it were truly driving a broad growth sell-off, biotech and other growth names would also be sold aggressively, but they are holding up while DRAM spot prices remain firm.
Oil capped near $85 until November
He expects oil to stay near $85 and not spike much until after the November midterm elections because the US has little incentive to push rates and oil higher before the vote. After the election, refilling the depleted US Strategic Petroleum Reserve should add renewed upward pressure on oil.
Strong Q2 sectors broadening market gains
After the July volatility washout, market participation is broadening beyond Samsung Electronics and SK hynix into sectors that reported strong second-quarter earnings: defense via Hanwha Aerospace, shipbuilding, and securities including Mirae Asset Securities. He says these areas were dragged down with the market and should be considered for H2 positioning.
Food exporters offer defensive export growth
Samyang Foods and Nongshim are not purely domestic consumer staples but export growth stocks. They have shown defensive behavior during volatility and have a near-term catalyst from the August 1-20 export data release expected around August 21.
Cosmetics exporters trade on export data
Cosmetics exporters such as APR, Silicon2, and D'Alba Global tend to rally when monthly export data confirm strong overseas sales. He sees them as a short-term swing trading opportunity based on the export figures.
GC Genome has liquid biopsy catalysts
GC Genome is Korea's NIFTY prenatal screening leader with an estimated 35% market share, profitable operations, and a strong cash position relative to its market cap. Catalysts include possible Japan Ministry of Health approval in September, US colorectal cancer screening clinical results by September-October and potential FDA submission in December. Global peers Guardant Health and Natera show the market opportunity, and Stanley Druckenmiller has a large position in Natera.
JETEMA toxin export catalysts unfolding
JETEMA is using its filler export cash flow across 80 countries to fund a botulinum toxin turnaround. Thailand approved its toxin in July and first export sales are expected from September; Turkey approval is expected this year; Brazil's GMP inspection passed; and a 10-year China contract with Huadong Aesthetics worth around 500bn won has had approval documents submitted, giving upside in a large under-penetrated Chinese toxin market.
This 3PRO TV (삼프로TV) video, published August 19, 2026,
features Kim Dong-hoon, Noh Young-rae
discussing US10Y, EWY, 005930.KS, 000660.KS, WTI, 012450.KS, 006800.KS, XLI, 003230.KS, 004370.KS, APR, Silicon2, D'Alba Global, 340450.KQ, 216080.KQ.
9 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Kim Dong-hoon,
Noh Young-rae
· Tickers:
US10Y,
EWY,
005930.KS,
000660.KS,
WTI,
012450.KS,
006800.KS,
XLI,
003230.KS,
004370.KS,
APR,
Silicon2,
D'Alba Global,
340450.KQ,
216080.KQ
