Don't rush! Gradual rebound with sharply reduced trading volume... The real reason it's fortunate but unsettling (Korean Stock Market) Hwang Yuhyun Team Leader

Summary

Shinhan Securities PB Team Leader Hwang Yuhyun reviews a volatile Korean market that rebounded into the close despite sharply reduced trading volume. He expects a narrow box-range market until Chuseok, with SK Hynix stuck in a 155-180 range and Samsung Electronics slightly preferred over SK Hynix. He highlights a new Korean AI data center theme lifting power equipment, construction, secondary battery and steel names, while warning against chasing rallies or leveraged ETF exposure.

• Korean trading volume has shrunk sharply and rotation is fast within a narrow range.
• Hwang expects a box-range Korean market until around Chuseok and FOMC risk clears.
• SK Hynix is seen as rangebound between roughly 155,000 and 180,000 won with buy-dip/sell-rally tactics.
• Samsung Electronics is viewed as slightly more attractive than SK Hynix on HBM4 yield, shareholder return flexibility, and late-October catalyst potential.
• A Korean AI data center theme is forming after SK Telecom's 15GW plan, boosting power equipment, nuclear, construction, ESS and secondary battery names.
• Sanil Electric is called out for entering the large transformer market and attempting a bottoming uptrend.
• Construction and steel names such as GS E&C, Hyundai Steel, and Dongkuk Steel are also starting to stir from lows.
• He advises against chasing strong rallies and says leveraged ETF holders face painful gap risk.