[#판도라] 쉬어가는 '삼전·닉스'"코스닥 소부장·바이오 선점하자!” l 김병연 l 이화진 l 김권진

#SamsungElectronics #SKHynix #KOSDAQ ▶ 20260629 Reading the Board: Pandora ▶ Mon-Thu 19:00 📈 Hosts: Anchor Jung Yoon-sung / Caster Lee Jung-woo 📈 Guests: ■ Kim Byung-yeon | Director of Investment Strategy, NH Investment & Securities ■ Lee Hwa-jin | Deputy Manager, Gwanghwamun Premier Center, Meritz Securities ■ Kim Kwon-jin | Deputy Head, Digital Content Team, KB Securities 📈 Announcement of the 2,000 Trillion Won 'AI Mega Project' and Diagnosis of Short-term Investor Sentiment ✔️ Government-Led Mega Momentum Market Activated 👉 The government has officially announced a large-scale investment plan to invest over 2,000 trillion won by 2035 in projects such as the construction of the second semiconductor cluster in the Honam region and AI data centers. 👉 Director Kim Byung-yeon: "This will act as a policy effect that resolves the polarization of the stock market, which had intensified amidst the semiconductor industry's dominance, and injects strong growth momentum into sectors outside of semiconductors." Even if it takes time for real economic results to materialize, this is an indicator proving that the market's momentum remains strong [Commerce 2167]. ✔️ Expansion of Value Chains and Global Investment Supply and Demand 👉 Deputy General Manager Lee Hwa-jin: "Foreign media outlets such as Bloomberg are also paying attention to investments in Korea's 15-year long-term semiconductor cycle." Similar to the past secondary battery cycle, risks regarding operating rates after factory expansion or cost control issues may be mid-to-long-term challenges, but the impact of short-term supply pressure is limited. 🔥 Signals of a 'Genuine Rebound' After KOSDAQ Breaks Below the 900 Mark ✔️ Resolution of Extreme Polarization and Entry into Normalization Trajectory 👉 With the emergence of single-stock 2x leverage ETFs, the phase of the 'supply and demand absorption grand scheme,' where Samsung Electronics and SK Hynix absorbed all stock market liquidity, has come to an end. 👉 Beyond a temporary rebound, the sentiment of KOSDAQ managers has passed its lowest point (the period when they cited 99 reasons why the KOSDAQ wouldn't perform), and a trend toward a return to supply and demand normalization is being detected. 👉 Key Point: The government's commitment to a policy boost is firm, including the 30th anniversary KOSDAQ event (structural improvements such as the delisting of underperforming penny stocks and companies with a market capitalization of less than 20 billion KRW) and discussions on introducing a promotion/relegation system. While the top two large-cap stocks take a brief breather (gradual pause), undervalued KOSDAQ earnings stocks are expected to stage a rapid catch-up rally. ⚡ July-August Earnings Season: Maintaining Semiconductor Cores and Consolidating Alternative Sectors • Semiconductor Front-end Materials, Parts, and Equipment (Sobujang): With the completion of the Yongin P4 plant and SK Hynix Y1 plant in the first half of next year approaching, and considering equipment lead times (6-7 months), a full-scale rally in new orders is expected to begin in August or September. (Top picks include leading front-end equipment stocks by market capitalization such as Wonik IPS, Jusung Engineering, TES, and PSK). • Pharmaceuticals & Biotechnology: The "empty house effect," which had been suppressed despite record-breaking technology transfer achievements in the first half of the year (a historical high of 14 trillion KRW), is now coming into play. Targeting sectors where pension funds continue to accumulate shares remains effective, such as Ligachem Bio (beneficiary of 500 billion KRW execution from the National Growth Fund), Alteogen (reconsideration of KOSPI listing and expectations for additional technology transfer), and Olix (beneficiary of L'Oréal equity investment), all of which have completed technology verification. • Cosmetics & Department Stores (Consumer Goods): Although prices have fallen excessively to the lowest end of the historical PBR band (IMF and COVID levels), visibility for a Q2 earnings surprise is high due to the rebound of the yen from its lows and the luxury spending power of wealthy foreign investors (butterfly effect). 💡 Summary “The prelude to the KOSDAQ launched by the 2 quadrillion KRW AI mega-project! While the overheated dominance of large-cap stocks catches its breath, seize the opportunity for a genuine rebound in the materials, parts, and equipment (SoBuJang) and biotech sectors, which have overcome fear and entered a trajectory of normalization!” #SamsungElectronics #SKHynix #KOSDAQ #SecondaryBattery #Semiconductor #Bio #HBM #AI #DataCenter #KOSPI #Healthcare #ETF #ForeignSelling #SemiconductorInvestment #MaterialsPartsEquipment #SemiconductorEquipment #Robotics #SecondaryBattery #ESS #NewRenewableEnergy #SamsungSDI #LSElectric #StockMarketOutlook #StockInvestment #DefenseStocks #ShipbuildingStocks #PowerEquipment #ADR #Leverage #SpaceX #PhysicalAI #HyundaiMot...