코스닥 30주년 소부장 대반격…전공정 장비주의 귀환 vs 대형주 수급 직격탄 l현상준·안인기·이영노 l 더 워룸 2부

#KOSDAQ30thAnniversary #30thBirthdayLife #RecordHighSemiconductorExports #NPCInterestRateBalancing #ForeignInvestorsSellFor9Days #SemiconductorMaterialsPartsEquipment #JusungEngineering #EugeneTech #Techwing #CurrencyCrisisConcerns 👤 Cast Information Hyun Sang-jun | CEO, Ventus Investment Ahn In-ki | CEO, Kangho Investment Consulting Lee Young-no | Deputy Manager, DB Securities Euljiro Financial Center 💡 Today's Code Name Key Point (Buy KOSDAQ): Marking the 30th anniversary of the KOSDAQ's launch, foreign investors have turned to net buying in the KOSDAQ market, intensifying the rotational trading trend across individual stocks. Despite South Korea's semiconductor exports surpassing $40 billion for the first time in history in June, the KOSPI fell by over 2% due to pension fund rebalancing and selling pressure from foreign investors, dropping below the 20-day moving average. On the other hand, the KOSDAQ continues to show strength in the materials, parts, and equipment (SoBuJang) sector, led by front-end process equipment stocks such as Jusung Engineering, alongside the easing of concentration on large-cap stocks and an increase in trading volume. With the opening of the July earnings season approaching and expectations for revitalization policies and the introduction of promotion/relegation systems remaining valid, attention should be paid to promising small and medium-sized sectors such as K-Beauty and semiconductor SoBuJang. ⚔️ Supply & Demand Analysis Room 📈 ① Must Buy – KOSDAQ (+SoBuJang, Bio) Ahn In-ki: Driven by expanding demand for AI and HBM, expectations for earnings improvement are evident for stocks benefiting from capacity expansions by Samsung Electronics and SK Hynix. Amidst the trend of active M&A by global big pharma firms and deregulation, KOSDAQ bio companies centered on anticancer drugs and gene therapies, equipped with unrivaled platform competitiveness and licensing capabilities, are attempting to re-enter a growth cycle. Lee Young-no: With expectations for benefits from the government's KOSDAQ revitalization policies remaining valid, the expansion momentum of the two major giants is shifting to the SoBuJang sector. Now is the time to turn attention to front-end process equipment stocks benefiting from the announcement of investments in the three major mega-projects, as well as to the substrate and materials sectors that have been neglected until now, such as Daeduck Electronics, Simtek, and ENF Technology. Related stocks: Jusung Engineering, Eugene Tech, Techwing, Daeduck Electronics, Simtek, ENF Technology 📉 ② Palgeol – Samsungnix Ahn In-ki: The earnings growth trend itself is solid due to the explosion in demand for AI semiconductors, HBM4 development, and expanded cooperation with global clients. However, caution is required as foreign investors have recorded net selling for nine consecutive trading days, increasing short-term volatility; the key factors for the stock price going forward will be whether foundry yield improves and the control of memory price volatility. Lee Young-no: Foreign investors continue to sell spot stocks as exchange rate instability has not subsided, and supply and demand from large-scale funds and pension fund rebalancing are acting as disruptive factors. Technically, it is a correction phase where investor sentiment has temporarily contracted significantly as controversy over a psychological peak is highlighted. 📝 Tomorrow's Market iF Report ① What If KOSDAQ Revitalization Policies Get Fully Implemented? (Samsung Electronics & SK Hynix Rally vs. Materials, Parts, and Equipment Counterattack) – Ahn In-ki The current market is in a phase where large-scale net selling by foreign investors for nine consecutive trading days, concerns about memory prices peaking out, and the burden of profit-taking selling pressure ahead of SK Hynix's US ADR listing are clashing. If the announcement of KOSDAQ revitalization policies gets fully underway, the supply and demand imbalances will be resolved, leading to a rapid improvement in investor sentiment for the materials, parts, and equipment (SoBuJang) and power equipment sectors. This could break through the stagnation of large-cap stocks and trigger a strong counterattack rally for small and medium-sized SoBuJang companies. ② What If a Second East Asian Currency Crisis Happens? (Stock Market Correction vs. Rebound After Oversold) – Lee Young-no This is a scenario where concerns about inflation triggered by a global war expand again, bringing price instability and global pressure for interest rate hikes back into the spotlight. If the deteriorating macroeconomic environment brings the possibility of a further interest rate hike by the Bank of Korea to the forefront of the market, additional index corrections will be inevitable. However, as large-cap stocks decline, the defensive capabilities of rotational trading centered on undervalued, fundamentally sound small and medium-sized stocks will be put to th...