KOSPI Breaches Share Buyback Breakwater

Differences in the recovery speed of the memory semiconductor industry and trends in the foundry market are having diverging effects on the stock prices of Samsung Electronics and SK Hynix. Oh Hyun-jin, Team Head at Luce Invest, said it is difficult to attach significant meaning to this one-day trend. As Goldman Sachs was the main buyer/seller for both stocks, the possibility of rebalancing by individual stocks was raised despite the same supply and demand entity. Short selling and loan balances are showing a downward trend, creating an atmosphere of reduced market uncertainty.

Sung Seon-hwa, CEO of Awesome-in, stated that SK Hynix has a higher proportion of HBM. SK Hynix's HBM proportion reaches 50%, while Samsung Electronics' is around 33%. With the recent launch of Astra, HBM demand is expected to expand, and a short-term strategy of long SK Hynix and short Samsung Electronics appears to have emerged.

While large-cap stocks like Samsung Electronics and SK Hynix are affected by macroeconomic variables, KOSDAQ can expect market leadership centered on SoBuJang and secondary batteries. In particular, if KOSDAQ settles above the 60-day moving average, there is potential for it to rise to 900 points.