KOSPI Rebound Expected, Semiconductors and AI in Focus

Micron, Samsung Electronics, and SK Hynix are anticipated to report strong third-quarter earnings, and S&P 500 companies' third-quarter earnings are expected to increase by 29%.

Corporate earnings and growth are key drivers of stock prices, and stock buybacks are primarily for defensive purposes rather than increasing supply, as seen in the SpaceX case.

The return of foreign investors, rather than the end of stock buybacks, is an essential condition for stock price increases.

While midterm elections themselves act as a source of uncertainty, there is a high possibility of a market turnaround after the elections.

Demand for ESS (Energy Storage System) and semiconductor facility investment are driving KOSDAQ stock trends. In particular, secondary batteries and semiconductor Sobu-jang, classified as the three major sectors along with bio, show a close connection to the growth of the AI industry.

In the case of secondary batteries, not only electric vehicles but also ESS are driving battery company stock prices, coupled with increasing demand from AI data centers.

Semiconductor Sobu-jang companies are expected to play a crucial role in the KOSDAQ market as demand for equipment, materials, and components increases due to expanded facility investments.

The semiconductor market outlook extending into next year and the year after is a more important criterion than this quarter's earnings alone.

With Micron predicting a semiconductor supply shortage until 2028, the long-term outlook to be announced at Samsung Electronics and SK Hynix's earnings calls later this month will be a major market variable.

Monitoring whether big tech companies like Google and Amazon increase or decrease their AI-related data center investments each quarter is a key indicator for memory semiconductor profits.

If the semiconductor lead time (time from order to delivery) decreases from the current 20 weeks to a normal 8 weeks, it can be interpreted as a sign of easing semiconductor supply shortages.

While rapid growth is acknowledged, it is suggested that, as the stock price has already risen significantly, approaching it as an area for existing holders rather than new investments would be prudent.

As semiconductor facility investment increases, equipment demand is surging. It is also necessary to pay attention to the supply shortage in the wafer packaging and post-processing equipment market.

Due to increasing demand from AI data centers, companies producing CCL, a key raw material for substrates, such as Doosan, and those manufacturing flip-chip substrates like Daeduck Electronics, are attracting attention.

Demand for 'post-processing' equipment, which involves the packaging stage of cutting and wrapping chips during semiconductor manufacturing, is surging fueled by the growth of AI data centers, and studying this field is necessary.

This seminar covers principles of staggered buying and methods for adjusting the proportion of core and peripheral stocks, enabling investors to establish criteria for stock selection and asset allocation. Yeom Seung-hwan also provides investment direction by presenting tax-saving strategies using ISA and pension savings funds.

This seminar educates attendees on staggered buying methods, asset allocation principles, how to adjust the proportion of core and peripheral assets, and how to utilize tax-advantaged accounts like ISA and pension savings funds, rather than recommending specific stocks.