Yes, then let's talk about the market today with Director Park Byungchang. Please come in. Hello, nice to meet you. Yes, it's nice to meet you. Well, Apple has risen a lot, right? It went up by 7.25%. It's now the second largest stock competing with the top one, at $207. It hit a historical high. It seems like it will break the historical high. The company is worth over 300 trillion won, right? It's close to 400 trillion won now, right? Yes, but it went up by 7%. So, if it's around 300-400 trillion won, it's an increase of 28-30 trillion won. Not 47, right? It's close to 300 trillion won, a nearly 280 trillion won increase. Yes, it is. In a day, right? That's right. Oh, no, what a big jump. It's really amazing, almost like Samsung Electronics. It's almost like creating money, isn't it? That's the power of money. Wow, it's amazing. It's the power of liquidity and money, you should see it that way. Now, let's start with the U.S. market closing.

Shall we take a look? Down 0.31%, many banks have fallen. Nasdaq rose by 0.8%, SM 5 times, 0.27%. It's because of Apple going up. Apple went up. Apple went up for real. Apple went up by 7%, that's why Apple went up. The rest didn't do well, indicating that Dow went negative due to banks falling. Other than that, when Apple goes up, other things just fluctuate up and down, so it went up. If you see it that way, it should be fine. But, Apple going up by 7% is impressive. However, when Apple developers started, Apple fell on the first day. If you look at yesterday, if we make a bitter expression, Apple-related stocks plummeted by 10% yesterday in our market. Apple-related stocks plummeted.

I threw it all away yesterday. Oh, yesterday. Now that it's gone, well, but if it goes up like this today, let's see what happens to me today. It will probably go up, right? And another thing is, after Apple's announcement yesterday, there was no innovation in Apple, and reports or YouTube channels all talked about it. So, what do I think now? I really don't want to do it. Why? Why is this happening? Why, there are really no words to say. Oh, Mr. Lee, you also have those times when you have nothing to say. Apple, as I kept explaining yesterday, doesn't show innovation like hardware clearly. It's not there right now, like services. Yes, so when you see things like that yesterday, people saying Apple is over now, there are many people like that. Anyway, when those things come out, it's really sad that they sell and buy at a drop of 7% or 10%.

Let me briefly complain. Anyway, when Apple goes up, our market isn't bad because we have a lot of Apple suppliers. So, the biggest characteristic is that Apple rose to its all-time high yesterday. Currently, it's at 105.2 euros. Although I didn't mention it yesterday, the European Parliament voted. After this election, geopolitical risks have been highlighted. Last time, they lowered the interest rate by 25 basis points, but it's not a trend for an immediate rate hike. They keep saying they will observe it for a while. In other words, with limited information on additional rate cuts, the euro showed weakness while the dollar strengthened. As a result, the dollar rose, and the Korean won approached 1378-1400 won.

It shows a pattern of sticking together, and with the Chinese yuan at 157, it is 7.25 up again, indicating a negative supply situation. Such indicators are emerging. When these things go up, as I mentioned yesterday, bearish indicators are currently appearing. Even in such a situation, some market capitalization stocks are surging. Look at the bottom when I explain. Companies like Amazon, Meta, Netflix, and Alphabet are rising while hardware is falling, supporting the market. This is the expression I used. So, while showing this kind of movement, there is a need to pause and think for a moment. Oracle has just announced its earnings, slightly exceeding market expectations, and is now up more than 8.8% within the hour.

It's because Oracle's cloud service provides AI-related services. With the content, it increased by 88%. The point is the service. So, I will read it once. In the past, when I used to broadcast daily, not a long time ago, about 1 or 2 months ago, I mentioned this content. I will read it again. Goldman Sachs mentioned AI in stages, asking for support. In the first stage, they often mentioned Nvidia itself. The second stage is the AI infrastructure construction stage, including semiconductor, cloud, data center, hardware manufacturing, and utilities. And the service industry using these things will move on to the third and fourth stages. Another point is that the first half of the AI sector focuses on hardware, and the second half focuses on consumption. Once the AI production base is established in the first half, the full-scale consumption of on-device AI will begin.

The release of the iPhone with AI features at Apple's developer conference is an important turning point. This is the information I wanted to convey. Well, there were these kinds of contents before. Among them, if we look now, Apple is rising, and Oracle is also rising in terms of time due to cloud AI services. In the meantime, companies like Intel, IBM, and AMD are hesitating. Currently, in the hardware sector, I don't think the shift will happen easily. First, let's lay down the premise a bit. So, I still think it will be in the hardware sector. This transition to software, then to services, and finally to profit will take a long time. However, the stock market is influenced by psychology and trends. Yes, they keep trying to push in this direction. We need to be aware that there are news reports coming out constantly, hinting at this side and that side, hesitating, and moving around. Let's recognize this much.

I would like to say that I keep talking about that side now, but we don't really know if it will happen. Even though we are not sure about the situation, considering those things, I would like to say let's keep an eye on the market. I would like to talk about the U.S. market while looking at the U.S. market. Yes, yesterday our market, the KOSPI, rose by 0.15%. Throughout the day, it just moved within a limited small range, and there were no significant movements in the futures market or options trading. It showed a hesitant pattern after some selling in the morning. Therefore, the market did not move significantly. However, yesterday, some unusual sectors emerged, with the most representative being the secondary battery sector. So, yesterday, everyone was talking about secondary batteries on all broadcasts.

Among the secondary batteries, the electronic material nano-material POSCO stock surged. In the contents related to secondary batteries, there are various facts. I have been mentioning to you about the previous contents since last week. There are some materials related to secondary batteries for confirmation, and I mentioned that they are in the process of confirming. Yesterday, there was a discussion in Europe about imposing tariffs on Chinese electric vehicles, and unexpectedly, the U.S. Department of Transportation submitted a ban on using Chinese batteries. The content was right, and some stocks rose, but overall, they couldn't rise. In my opinion, in the morning, overall, they rose a bit. However, while some stocks remained steady, there were some stocks that dropped a bit. It's not that they fell, but they closed around the same level before and after the opening. This is because the export data was released yesterday.

Data has come out, but the battery side still seems to need some more time. I will show you later. We still need to watch a bit more. There is a need to confirm. This level of export data has come out. On the one hand, the export data that came out on the negative side reduced the rate of increase. On the other hand, the positive side continues to show strength. This is the current situation. So, how should we interpret this? Because of this news, the market moved like this. But what should we look at? When news comes out, the sector or the stock price reacts. The fact that it reacts means that there are buyers. For example, news like imposing tariffs or banning the use of U.S. batteries came out last month or the month before last. There were such possibilities in the first half. However, there was no reaction. But now there is a reaction.

I think you all might have noticed that there are changes in supply and demand, and in fact, some are continuing to mention this. There are also those who are skeptical about this direction. However, there are markets that do not respond well and markets that are blocked. So, you can understand that the atmosphere is slightly changing in this direction. Among them, it seems like selective movements are taking place. Why are you laughing like this? I'm in the electronic materials and new materials industry. So, as I continue to broadcast, Pro, you were like, When will this happen? Will this not work? It was frustrating, and everyone was like this. The atmosphere is changing a bit. It's necessary. It's each individual's decision whether to invest in stocks urgently. Each has a different investment strategy.

One characteristic is that Altosgen surged yesterday, breaking its all-time high and becoming the second largest market capitalization. Altosgen, since around October or November last year, has been steadily rising without any corrections. I mentioned that Altosgen is good, so it is important that Altosgen has become the second largest market capitalization. Especially, the market capitalization rankings change drastically from first to fourth place. This has a significant impact on the index, but it is crucial because it is a force that moves the entire KOSDAQ market. Therefore, criticisms of KOSDAQ are that when certain stocks or sectors are favored, capital flows in, causing market capitalization to surge. However, when that stops, the KOSDAQ collapses. This characteristic is often observed. So, the KOSDAQ market is originally a technical market.

Growth stocks, well, they are market-based on technological capabilities, as I said, but now, on the KOSDAQ, there are more stocks than on the KOSPI, and individual investors are also focusing more on the KOSDAQ. Therefore, it is quite important to have programs that can reduce the volatility of the KOSDAQ and stabilize it. I am thinking along those lines. And finally, yesterday, stocks related to Apple plummeted. Who sold them? Domestic institutions mostly sold off. They sold off today, should we buy back today or wait? Yesterday, Apple went up, but ultimately, I think it will go down. Let's see how it goes today. What about the market today? What should we look at, like main stocks or something? I'm not sure, but the atmosphere is, the atmosphere is, how can you confirm the bottom? Well, you should see if the stock price has been steadily going up for a year or two.

We need to pay attention to that, when we analyze it from our ear's perspective, whether to create a reverse hidden order, yes, or to confirm the low point when a deal occurs. If you look at it that way, it seems like the right thing to do. Today, there is a big event in the United States, the CPI will be announced, and the FOMC earnings results will be released early tomorrow morning. Yes, the CPI headline is expected to remain unchanged, and the month-on-month is expected to show a slight increase. The focus of the FOMC meeting is on whether there will be any policy changes, and specifically, whether there will be any mention of interest rates or inflation targets. This is of interest. Therefore, depending on this, there may be some volatility. So, currently in the financial markets, people are saying, Hey, there's a volatility warning, be cautious, there might be volatility. That's why these kinds of discussions are ongoing, so how will the market react? Naturally, it seems like there will be more cautious observation.

I think people will not move after seeing the results. This time, the interest rate is expected to be frozen by the Fed, with the current expectation being over 99%. So, the market is not expected to react to that. If it deviates significantly from the expected CPI or if the Fed's dot plot has changed noticeably, there will likely be high volatility. Otherwise, although there is caution in the market, there seems to be some momentum. In Korea, as I have been explaining this week, the influence of the futures market is expanding significantly. But based on what I've seen over the past three days - Friday, Monday, Tuesday - typically, towards the expiration date, there is rollover happening at the end of the expiration. Except for the last hour or two, most positions are cleared out before that, and then rollover occurs. So, today is Wednesday, which is also tomorrow.

Well, then it's going to be a big deal today, right? Without saying that, the previous one is almost done. Already almost ready to report. So, except for what will be done tomorrow in the afternoon, there may be more focus on taking positions for next month starting from now. It's already for next month. What's next, what's next? Sorry, why am I talking about today? It's about the next quarter. It's June now, and it will be September. In September, I will take positions. So, if you interpret it a bit, it should be fine. Anyway, simultaneous expiration can cause significant volatility. Tomorrow is an important day, and there is also a big event in the United States, right? Naturally, funds that move with the market trend, which moves a lot of money in the market, may not move. Therefore, the market moves due to the impact of simultaneous expiration.

Different stocks will be differentiated depending on the issues. Among them, yesterday, export data until the 10th was announced. There is one thing that has improved in Korea these days. This export data is announced on the 11th, then on the 1st, it is announced monthly. When this export data is announced, if you carefully look at it, if exports have improved, profits increase. Stocks that show increased exports will rise, and those that don't will fall. This clearly demonstrates it. Since stock prices move according to profits, this is a good thing. It's greatly improved. However, every time this comes out, as I have been saying, it was released yesterday. Let me tell you about it. The statistics until June 10th were released yesterday. One thing to be cautious about this time is that we had a holiday in the first week of June, which was also sandwiched in.

There was a Memorial Day, and the reason was that there are not many business days left. Considering that, we need to look at this, but overall, exports and imports are slightly higher, resulting in a small surplus. Semiconductors decreased by about 36%, and automobiles decreased by around 18% due to the base effect. However, for DRAM exports, unit prices, flat memory, and cosmetics, which are the main interests, are first brought up. There are many of these, around 100 to 150 items. If you look at the screen, you can see them. There are many portals that organize and upload these. I also look at almost a few things. As you can see, overall, it's quite diverse. It shows a slightly decreasing trend overall. You can understand a bit about flat memory and others. DRAM and NAND are still

It's showing a good appearance, and as I mentioned earlier, yesterday the secondary was overall good, but it went down a bit after rising. Now, yesterday, polarized export data has also been released. NCM is about 31%, and NCA is about 11%. Daily exports decreased by 26% compared to last year, but it's still low. You all know that it's not looking good right now, so we've been talking about whether the memory prices will hit rock bottom and turn around in the second half of last year. What should we look at here? The average export is 517 tons. Yes, it says that in 2023, the average export volume of polarized 1 is 723.5 tons. So, we need to go there. Therefore, keep checking this and try to find an overall turning point. Also, when we talk about our batteries here, it's always...

The upcoming event is the U.S. presidential election, and it is influenced by the election. So, it would be good to align your thoughts with that and consider it together. That's about it for now. Also, cosmetics are -3% compared to the previous year and -13% compared to the previous month. This is due to the number of business days. If we look at the operating expenses, compared to the previous year, the U.S. increased by 177%, while China decreased by 38% and the U.S. increased by 55%, and China decreased by 37%. In conclusion, when we look at the overall sectors, which areas have improved? It's in DRAM, MLCC, OLED, fillers, beauty devices, mergers, cylinders, small transformers. Oh, not transformers, but electrical facilities. Didn't we invest in this area recently? Oh, right. But why is it decreasing now? Usually, when it rises a lot, it tends to adjust. In most cases, it's seen as a correction. Because initially, that's how all stocks are.

At first, it surged from level 2, then it rose too much, so we took a break. Then, oh, the profit was too high, so we took a long break. It's not an overreaction. It's really a significant increase in profit. So, we need to make a judgment on whether to continue like this. I endured and endured, it was a long time. Because when we first talked about the transformation, right? And then, if I remember correctly, I should have entered at that time. Yes, that's right. And then, after about a month, oh, I should have entered at that time. It's been about a month or two, right? Yes, you endured for two months. Endure, endure. This is when I should be humble in the market. The market is telling me to enter. So, I understand. Market, I will enter. So, I entered, and then, okay, you've entered.

While doing this, even if I lose some weight, today, I will share something other than the news. When I attend seminars in the stock market and when I hold seminars for experts, sometimes I talk about this. Even when I hold seminars for experts, there are times when I talk about this. Those experts usually talk about theoretical things, but when I meet ordinary investors, one thing I always mention is that I wish stock investment could be easier. Now, as I will soon leave the company and become an individual investor, I will also do it. But now, since I am doing broadcasts, I will talk about this. If I talk about the market conditions, interest rates and exchange rates greatly influence the supply and demand factors. Then, what are the factors of interest rate changes and exchange rate changes? For example, if we only look at interest rates, there are CPI, PPI, and PC in front of interest rates.

There are employment indicators. So, what are the factors that influence these indicators? What are the factors in the previous stage that cause these factors to move? Let's explain that. This is what these explanations are about or what these people are doing. However, many individual investors are trying to know all of that. I would prefer not to do that. So, we are living in an era where many people are talking. So, regardless of whether it's right or wrong, when you hear such things, close your eyes and think about which side carries more weight. So, just grab one direction simply when you think it's right. As I mentioned before, I think you occasionally have discussions like this. In the morning, you say something like that in the bookstore.

When you look at the church or places like that, when you look at the bookstore, there are people who have really made huge profits and become extremely rich. They are not only on Wall Street, but there are also people in the mountains who make even more profits. They talk about this, saying that such insights are important. But why suddenly talk about that? Some people have waited for a month or two to enter this side, why is that? There is one thing that is because they keep looking at this information. There is one thing that is because they are too focused on it. This is just my own experience and I am telling myself. Another thing is that I am talking about the possibility of errors and distortions occurring. And one more thing, I really think that this speculative nature is true. The stock market is a high-risk product. It can go up by 30% in a day.

It's a matter of going and coming, so when people with a gem-like tendency look at success or failure in the stock market, those with a gem-like tendency tend to have lower profitability or a higher probability of failure. That's what I think. So, there are people like this, right? Let me tell you something very extreme. We have coins, don't we? Bitcoin. When Bitcoin first came out, it started at around 10 million won, then went up to 15-20 million won. But at that time, there were many unfortunate incidents, as you may remember. The price dropped to around 2-3 million won, and there were many incidents where people lost confidence. But at that time, people with conservative tendencies couldn't invest in Bitcoin, right? They didn't.

I can't do that. I can't do those things, but on the contrary, when new products or new leaks come out, I think I manage the risk myself, and those who aggressively go in can profit from it. Even with Ney stock, if you think about it quietly, when the leading stock comes out and starts to skyrocket for the first time, well, those with insight want to confirm this. So, this is why William says, Look for choices in the stock market. But generally, how do you do it? When a certain sector or a certain stock goes up, we try to verify why it's going up outside the stock market. So, we study, ask questions, call and ask, and then we give it some time to boast and then later on.

When someone says, I guess this is right, sometimes it's already too late for the stock price. But I can't say it's the correct answer. However, based on my experience, successful stock investors tend to have a more aggressive attitude that involves making quick decisions to cut losses and knowing when to let go. Those who hesitate or are slow to act are likely to suffer losses. That's what it seems like. I host a morning daily show, and I suddenly remembered your words, so I shared this story. I apologize for talking about this instead of the news you should be listening to. There are many viewers like me.

Let's go back to the news. It's been 15 minutes. TSMC has customers waiting until 2026. Due to a leak from a high-level executive, information about the production of 3-nanometer products is insufficient this year, although production capacity will increase threefold. However, it is still insufficient, so some 5-nanometer equipment is intentionally converted to 3-nanometer production. As a result, the production of the Apple iPhone 16 is expected to increase significantly. Samsung Electronics has separately configured a TF to increase the supply of top-tier DRAM for data centers. While it is natural to do so, I got a little upset while watching this news. Well, what can you do when you watch the news?

I'm still doing this. I selected 400 researchers, right? We need to show the results. For example, by doing this, we will get the results later. But now, the timing is important. I'll give you that kind of information again. Ah, Professor Lee Yong-won from Georgia Tech is now talking about semiconductor glass substrate supply chain and technology conference. Of course, he must have talked about glass substrates at the glass conference, but what TSMC is doing right now with glass substrates, chips, on-wafer substrates, and so on, they are discussing the possibility of replacing them. This news is coming out a lot in this technical field. If you are investing in this technical field, even though it's just one aspect, I think you should pay attention to it and follow up. Now, I'll briefly mention a few important points. Amazon is targeting domestic beauty companies.

We are holding a large-scale briefing session on the 27th of this month. On the 27th of this month, Amazon will hold a KBT conference. At this event, Amazon will directly present plans to strengthen global business support for the KBT brand. This is extremely significant and important because just a few years ago, when Amazon Fulfillment, you know, Fulfillment, a company in Korea that manufactures products in Korea, entered Amazon Fulfillment, its stock price more than doubled. Oh, that's how important it was for Amazon Fulfillment to enter. Now, Amazon is coming to Korea and explaining what we need to do. It's encouraging, but we need to keep up the good work. It's a great achievement. I will tell you that it happened like that a lot. So, I thought about whether this is something that needs to be done, like a news item.

There have been a lot of leaks. The pre-contract for 6,000 units of Kia's first electric vehicle in Seoul, which was sold out in a week, is priced at 3.61 million won. After receiving subsidies, it will have an LCM battery installed, and this car is a bit small. However, the EV3 is a bit smaller. What was it? A bit longer, right? It's about the wheelbase being longer, the body being longer, and talking about the price. So, it is currently very popular. Therefore, there is a lot of discussion about whether we can succeed in popularizing electric vehicles in Korea. GM announced a $6 billion share buyback. GM, last November, not this year, announced a $10 billion share buyback, which is already completed. Starting from the third quarter, they will start a new $6 billion share buyback.

Oh, they have exceeded 13 trillion won, and they say they will do another 10 trillion won. But the CFO said it this way. Of course, there are political reasons and various other reasons. However, literally speaking, I brought it to read it for you. We focus on the profitability of the business and have increased and calculated the profitability of the electric vehicle business while efficiently allocating capital to return cash to shareholders. But GM's situation doesn't seem to be very good. No, it's not good at all. GM is doing okay, relatively speaking. GM is fine. So, GM is able to do this because profits are coming back a bit now. This is what they are talking about, returning it to the shareholders. I have never heard a company talk like this before. I joined as an intern in 1995 and was hired by a securities firm in 1996.

In Korean companies, returning capital to shareholders efficiently like this has never been heard before. I might have missed it, but that's why I brought it up. Yes, these days, GM's stock price is doing quite well. I will not go into details about 8, 9, and 10, I'll just mention it. Now, talking about SML, a company founded by Bill Gates, it was announced by AP News that they are starting the construction of a small modular reactor in the U.S. They are using liquid metal instead of water as a coolant, investing around $4 billion, with 50% support from the U.S. Energy Department. Currently, about 80 small modular reactors are being developed in the U.S., China, Europe, and others. The U.S. is trying to take the lead by creating SMR regulatory easing laws. This company is a small modular reactor company. Uh, probably Microsoft, Google.

The company that supplies power to data centers is the CEO of the company. The expected energy of the data center is excessive. Currently, 40% of the legendary power facilities under construction are data centers, with 89% being renewable energy and 11% gas power generation. The construction of new nuclear power plants for data centers faces many challenges. This is what I'm talking about. I'm connecting numbers 8, 9, and 10 now to bring them together on one screen. I am planning to do it this way. There are many problems, a lot of support is needed, and currently, this side is doing this, so even if you are not a politician, you might make static statements that are advantageous to you. Nations can also make statements advantageous to them, and I think we need to interpret those things. Why am I saying this? News comes out, and then here.

Related stocks go up and down depending on the news. This is the direction in which they operate based on their understanding of these news. Stocks move accordingly. So, in order to explain this, I asked three questions. Yes, there was a lot of interest in SMR. It seems that there are still some issues that need to be resolved. Thank you very much for your kind words. Dr. Park Byeongchang, I ask for your continued support tomorrow. Thank you for your hard work. Thank you. Park Geunyoung, Lee Sunhyeok, Sa Kyeongin, and Yeom Seunghwan, create healthy investment habits with the careful care of the investment masters. Check on the 3% membership app.

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CPI · FOMC에 월가 변동성 주의보 경계 중… 관망세 지어질까 f. 교보증권 박병창 이사 [마켓 인사이드]

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