Morning Investment: Analyzing Market Trends and Portfolio Strategies

Advisor Kim Dae-moon emphasizes the need for portfolio diversification to manage investment risks effectively.

### Navigating Frustrating Investments
The market is weak, with the U.S. non-farm payroll report causing **tension globally**. Advisors from NH Investment & Securities are offering portfolio consultations and encouraging participation through a provided link or email. The discussion focuses on a client's **challenging stock holdings**, particularly Celltrion, and the advisors provide insights and potential solutions for **improving the client's investment returns**.

### Analyzing Investment Strategies: Celltrion and Market Trends
Celltrion has the potential to recover from losses, especially with the **recent approval of its self-administered injection for autoimmune diseases**. The healthcare sector has shown positive performance during the market's recovery, suggesting that Celltrion's stock may **enter an upward cycle**. The company's new product, JINPENG 2, is expected to drive **significant sales growth**, making it a key player in Celltrion's **long-term success**.

### The Impact of PBM Prescription Registration on Celltrion
The registration of the three major PBM prescriptions in the U.S. is expected to **significantly benefit Celltrion's growth**, especially with the **increasing global demand for competitively priced biosimilars**. The restructuring of the U.S. Medicare system and the expansion of biosimilar policies are likely to have a **positive impact on Celltrion's core business**. Additionally, the projected decrease in the PPA triangle ratio and the overall positive trends in the pharmaceutical and biotech sectors suggest a **favorable outlook for Celltrion's stock**.

### Analyzing Investment in China-Related ETFs and LG Display
Investment in Korean won has reduced the burden for customers, but China-related ETFs have performed poorly since their 2021 listing, indicating **significant concerns about the Chinese economy**. The overall market decline suggests a need for a **comprehensive analysis of the Chinese market**, with a recommendation to **reduce exposure and consider reallocating to emerging markets like India or Vietnam**. Additionally, LG Display is currently in a profit zone, but its stock price has been on a **downward trend for three years** due to performance deterioration, raising questions about its **future profitability**.

### LG Display's Performance Turnaround and Industry Outlook
LG Display's operating profit for the fourth quarter is expected to reach **500 billion won**, marking its **highest performance in 14 quarters**. The company's anticipated improvement is driven by a strengthened **OLED business policy** and a potential end to a **5 trillion won deficit**. The display sector is targeting the **high-quality 2D market** to fend off competition from Chinese products, with a significant focus on **OLED technology for future product launches**.

### Understanding Inverse and Leveraged ETFs in the Semiconductor Sector
Inverse and leveraged ETFs are commonly used to gauge the semiconductor cycle, with their **profit and loss structure settled daily**, leading to **potential discrepancies over longer investment periods**. The semiconductor industry's revenue growth is expected to **peak in Q3 2024**, with supply inelasticity causing **challenges in meeting demand**. Long-term upward trends in the U.S. market indices suggest a straightforward investment approach may be **more effective than using inverse funds**.

### The Future of the Semiconductor Sector
The semiconductor sector is expected to continue thriving despite market concerns, particularly around **AI demand and economic slowdown**. Big tech companies are maintaining their CapEx guidance, indicating a focus on **medium to long-term investments** rather than short-term profitability. The demand for AI PCs is expected to **increase significantly** from corporate and government sectors starting in 2025, suggesting that the slowdown in AI demand may not be a major concern.

### Uncertainty Pressures the Domestic Market
The domestic market is facing significant uncertainty, with **gold investment being a major concern** for individual investors. The U.S. manufacturing index shows increased uncertainty due to **upcoming interest rate cuts and the presidential election**, leading to **delayed capital expenditures** from major companies. The Korean market is more influenced by U.S. events, and the upcoming presidential election is expected to cause **market fluctuations in September and October**, with a potential **long-term rebound**.

### Navigating Investment Challenges: Insights from NH Investment & Securities
* 📉  The market is currently experiencing weakness, with **significant anticipation** surrounding the upcoming U.S. non-farm payroll report, which has created **tension in the global market**.
* 🤝  Advisors Kim Dae-moon and Na Eun-kyung from NH Investment & Securities are here to provide **portfolio consultations** and encourage viewers to **share their investment concerns** for tailored advice.
* 💼  Participants are invited to submit details about their investments, including **average price**, **return rate**, **proportion**, and **holding period**, to receive comprehensive analysis and guidance.
* 📊  A case study was presented involving significant losses in stocks like Celltrion, which has seen a **drop of over 40% since purchase**, prompting discussions on whether to **hold or liquidate underperforming assets**.
* 💡  Advisors emphasized the potential for recovery in the pharmaceutical sector, particularly for Celltrion, citing **upcoming product launches and favorable market conditions** as reasons for optimism.
* 🌍  Concerns were raised about the **sluggish performance of Chinese markets**, with suggestions to **diversify investments into emerging markets** like India or Vietnam to **mitigate risks associated with China’s economic recovery**.
* 🔍  The discussion also highlighted the importance of **monitoring macroeconomic factors**, such as U.S. interest rates and trade relations, which could **influence stock performance** in both domestic and international markets.
* 📈  Overall, the advisors encouraged a **proactive approach to portfolio management**, recommending **additional purchases in promising sectors** while carefully managing risks amidst **market volatility**.

### Analyzing LG Display and Semiconductor Market Trends Amidst Economic Challenges
* 📈  Currently, LG Display is in the profit zone with a weight of about **16%**, having a purchase price of around **9,100 won** and a profit rate of **plus 17%**, driven by **improved performance projections for the second half of the year**.
* 🔍  Advisor Kim Daemun emphasizes the need to focus on **performance improvement**, noting that LG Display has faced **three consecutive years of expected operating losses**, which makes the outlook **challenging** despite rising stock prices in 2021.
* 💡  There are optimistic projections for LG Display's operating profit, estimated at around **500 billion won for the fourth quarter**, marking the **highest performance in 14 quarters** due to a strengthened OLED business policy.
* ⚠️  However, the display sector continues to face significant challenges, including **competition from Samsung and low-priced Chinese products**, necessitating a strategy to **target high-quality segments for better profit margins**.
* 📊  The semiconductor industry is also under scrutiny, with concerns about the **peak of the semiconductor cycle** and a **projected decline in global semiconductor revenue growth** after the third quarter of 2024, as highlighted by a Morgan Stanley report.
* 🔄  Advisor Na Eun-kyung points out that while the semiconductor market may face **short-term volatility**, the long-term outlook remains **positive**, especially with ongoing investments in **AI** and medium to long-term **revenue models**.
* 📉  The current market sentiment is cautious, with the KOSPI down about **0.7%** and the KOSDAQ down about **1.9%**, reflecting **global economic uncertainties** and the need for **strategic portfolio management**.
* 💊  Advisors suggest exploring opportunities in the pharmaceutical and bio sectors, which may offer **resilience amidst the prevailing market challenges**, highlighting the importance of **distinguishing between strong and weak stocks** in these areas.

오늘의 투자 고민은? #셀트리온 #LG디스플레이 #SOXS ETF f. 김대문, 나은경, 허재무, 홍선애 [아침N투자]

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