"반도체 오르면 기관·외국인은 판다"...역설의 시장, 살아남는 전략은?ㅣ김장열 유니스토리자산운용 본부장

Market Insight (11:30 ~ 13:00) Monday, June 29, 2026 📊 Today's Market Key Summary Volatility in the domestic stock market is increasing due to profit-taking following the surge and the impact of foreign investors' rebalancing. However, analysis suggests that the mid-to-long-term growth story—driven by AI investment and improvements in the memory market—remains valid. For the second half of the year, a strategy focusing on the valuations of the semiconductor "Two" (leading stocks), front-end process equipment stocks, and AI infrastructure-related sectors expected to benefit from government policies has been presented. 🎙 Guests Anchor Kim Ho-jeong Head of Division Kim Jang-yeol, Unistory Asset Management 🔎 Key Points 1️⃣ Why the Market Plunge and Increased Volatility? Volatility has increased as profit-taking following the short-term surge, the burden of memory prices, and supply and demand for leveraged ETFs have combined. Since July, the possibility of volatility easing has also been raised following the completion of rebalancing. 2️⃣ Semiconductor "Two": Is It Still a Buying Opportunity? Samsung Electronics and SK Hynix are assessed to still possess undervalued appeal compared to their global competitors. Analysts suggest that a staggered buying strategy, considering a margin of safety rather than focusing on short-term corrections, is effective. 3️⃣ Focus on Semiconductor Materials, Parts, and Equipment, and Front-end Process Equipment Among the materials, parts, and equipment sectors, front-end process equipment is considered relatively more advantageous than back-end process equipment. Benefits from expanded AI investment and policies related to the Yongin Semiconductor Cluster are also expected. 4️⃣ Expecting More Benefits from AI Policies Than Shipbuilding or Defense For the shipbuilding and defense sectors, an approach based on market capitalization weight was recommended, as earnings expectations have largely been reflected in the market. On the other hand, it was projected that policies expanding AI investment are highly likely to have a positive impact on the semiconductor equipment and AI infrastructure sectors. 5️⃣ Investment Strategy for the Second Half While the mid-to-long-term upward trend is expected to continue, it is necessary to keep in mind the possibility of a correction due to short-term overheating. The July employment figures, the Jackson Hole meeting, and the September FOMC meeting were cited as key variables. 💡 Conclusion "The mid-to-long-term growth story of AI and semiconductors remains valid. Rather than being swayed by short-term volatility, it is important to combine dollar-cost averaging with risk management strategies, focusing on the top two semiconductor companies, front-end equipment, and sectors benefiting from government policies." #KOSPI #KOSDAQ #Semiconductor #SamsungElectronics #SKHynix #NVIDIA #Micron #InterestRate #FOMC #ExchangeRate #AI #MarketInsight #KimHoJung #KimJangYeol #StrategicInvestment #InvestmentStrategy #SemiconductorMaterialsPartsEquipment #HBM #HanmiSemiconductor #WonikIPS #JusungEngineering #EugeneTech #AIInfrastructure #FrontEndEquipment #MemorySemiconductor #ForeignInvestorSupplyAndDemand #Rebalancing #YonginSemiconductorCluster #AIInvestment #ShipbuildingStocks #DefenseStocks #EarningsSeason #KOSDAQInvestment #JacksonHole #USEmploymentIndicators #SecondHalfInvestmentStrategy ────────────────────────── 🎯 Investment Decisions: Information is the Key. Check out fast and accurate key information now on the official Korea Economic TV Telegram. 🎁 Free Subscription 👉 https://t.me/wowtv_official ────────────────────────── △ Watch the Korean economy! △ We deliver fast and accurate economic and stock market news 24 hours a day. △ Subscribe + Like! ────────────────────────── ◇ Korea Economic TV Official Channels & Business YouTube Subscribe: https://bit.ly/45pz6GK YouTube LIVE:    • Video   Collaboration & Business Inquiries: [email protected] ────────────────────────── ◇ Korea Economic TV Website: http://www.wowtv.co.kr Kakao Plus Friend: https://pf.kakao.com/_xbcxlxgd Twitter:   / hkwowtv   Facebook:   / hkwowtv   Program Schedule: https://bit.ly/47q2caY ─────────────────────────── ◆ Subscribe to the Korea Economic TV Family Channels! News: [Hankyung TV News]    / 한국경제tv뉴스   Stocks: [Money Farm Korea Economic TV]    / @hkmoneyfarm   Stock App: [Korea Economic TV Crypto]    / @hktv_crypto   Education: [Wow Academy] https://wowacademy.wownet.co.kr/ Global: [Wow Global] https://www.wowglobal.co.kr/ Real-time Investment Information: [Wow Quick] https://www.wowquick.co.kr/ ────────────────────────── ※ If the screen appears blurry or pixelated, please select 1080p quality in the settings. ⚠️ Viewing Precautions ※ This content is for reference only for investment purposes. ...