Park Byung-chang, CEO: "September Market is a Difficult Tunnel"

Park Byung-chang, CEO of MP Partners, likened the upcoming September market to a difficult tunnel section, "like a bumpy, muddy, and somewhat messy road." This suggests that investors face the challenge of how to respond to and navigate market volatility in September.

CEO Park emphasized that September is the period when investors must traverse this difficult path, highlighting the importance of establishing an investment strategy.

CEO Park Byung-chang diagnosed that the current market is one where "macro is moving," which is completely different from before. He emphasized that if the macro environment is not good, individual sectors or corporate earnings will find it difficult to overcome the overall market trend.

He specifically mentioned the trend of U.S. semiconductor stocks and their synchronization with the Korean market, explaining that macroeconomic variables tend to take precedence over the closing price movements of individual companies.

Regarding the phenomenon that SK Hynix has not rebounded and remains at a relatively low stock price compared to Micron Technology, CEO Park Byung-chang pointed out that "our country moves a lot in a peculiar way," analyzing that this cannot be explained by simple supply and demand logic.

CEO Park mentioned that share buybacks and cancellations do not necessarily guarantee a stock price increase, explaining that while such policies can defend stock prices in the short term, they do not become a fundamental driving force for an upturn. In particular, he suggested that the current stock movement of SK Hynix is influenced by complex factors beyond supply and demand.

He added that the stock price discrepancy with Micron suggests the possibility of other macroeconomic or industrial factors besides domestic market characteristics and supply/demand variables, and that it has limitations to be interpreted solely by supply and demand.

SK Hynix's share buyback is scheduled to end in late September, with approximately 28 more days of buying expected during the remaining period. CEO Park Byung-chang predicted that SK Hynix's stock price will show movement, either up or down, during this period.

CEO Park emphasized that investors need to be cautious as the volatility of SK Hynix's stock price could expand after the share buyback ends in late September.

CEO Park Byung-chang expected the September market to experience a decline of about 2% in the morning. However, he judged that extreme volatility, such as a sharp sell-off or circuit breaker activation as in the past, has already passed.

He presented an optimistic outlook, predicting that the market's decline would be limited to 2-3% and would not lead to a large-scale panic selling.