Today, I will summarize the central issue and strategy through the issue and strategy that will be the focus of the market. I will do this with four people. We will be joined by Director Namino of Yachen Investment Research Institute, Director LNS of Ding's, CEO Kim Sun-young of Daol Investment Securities, Director Kim Sung-jun, and Manager Ha Chang-won of Herme Stock. Please come in. Although we are laughing like this, in reality, our hearts are heavy. Overnight, amid concerns of an economic slowdown, the Philadelphia Semiconductor Index plummeted by over 7%. Today, we will start by diagnosing semiconductor-related stocks. Yesterday, Samsung Electronics and SK Hynix both closed with strong downward candlesticks. One after another, high-performance semiconductor-related stocks at the bottom showed weakness. Let's hear from Director Kim Sung-jun about the related content. Yes, in fact, many investors may have felt disappointed yesterday. NVIDIA.

Despite a 12% increase, it eventually closed with a half-day decline. Of course, the day before, it managed to pull up to 3% from the negative territory, showing signs of resilience. There were also some self-deprecating expressions mixed with a bit of regret. Well, what we are hoping for today is that the significant drop in the U.S. market will be reflected again. We will start with that in mind. There are always excuses when things don't go well, but it's inevitable. Furthermore, considering the intensified U.S. sanctions and the increase in defense spending in Taiwan, which influenced the TCM 7 as well, and yesterday's news about Apple's departure from Nvidia.

I think these were parts where attempts were made to add more, which had a somewhat negative impact on investment sentiment. Recently, both the United States and South Korea have experienced similar situations. However, from a technical perspective, the trend has seen a sharp decline followed by a temporary rebound, more like a technical rebound. Therefore, it can be seen that there hasn't been a significant reversal in the trend yet. Considering this aspect, it seems necessary to check the technical charts to make investment decisions. So, how is the current situation now? It seems that we need to examine these aspects. Yesterday, export data was released. In July, the export volume of memory semiconductors was approximately $5.8 billion, which is about 90% compared to the same period last year.

There was a 50% increase, so overall, as expected, the export data led by semiconductors was released. Also, another addition is that in July, the fixed DDRAM transaction price was announced again, increasing by about 8 to 13%. Of course, in the last quarter, the increase rate decreased from 15% to 20%, but still, looking at the fact that it continues to rise, there is a clear expectation that the improvement in performance at the fundamental level can continue. However, the issue now is that just because it's cheap doesn't mean you should buy everything. Therefore, above all, it is crucial who the buyers are. Recently, especially in the case of SK Hynix, since mid-July, foreign selling has intensified, and some outflows of funds from the domestic market have occurred.

There are also interpretations that it was already in progress. Well, yesterday, along with the interest rate hike by the Bank of Japan, the capital outflow did not shake the U.S. market yesterday. Considering the possibility that these things may continue for a while, the most important point is still the foreign capital flow. Even individuals are facing limitations in their buying history due to the beginning of credit troubles. Institutions are also taking a passive stance in trading-centered transactions. Therefore, above all, it is crucial now for foreign investors to buy in, especially in the semiconductor sector. Last night in the New York Stock Exchange, NVIDIA dropped by 6.6%, and currently, Intel is plummeting by over 20%. It is very critical now.

I'm anxious. Did Eker match my blue outfit today, so my heart feels heavy? The day before, I prepared some personal clothes at night to wear today, but I'm sorry for wearing the wrong clothes. It would have been nice if I had worn red today. Still, with the market opening down and not knowing what will happen until the market closes... Oh, right. Today, unlike the New York Stock Exchange, I hope things flow a bit smoother in the market. It is expected that the KOSPI index will rebound to 2,900 to 3 this month, driven by strong second-quarter results and interest rate prospects. Will it really reach 2,900? Director Nam Min-ho, what do you think? Major domestic securities firms are expected to...

The lunar stock price forecast was presented just as you mentioned. Recently, our stock index has shown some manipulation, and companies are coming out with quite good performance, right? In that case, the valuation of companies will decrease. Consequently, it is suggested that we can expect good results in August. Therefore, many securities firms are looking at surpassing the 2,900-point mark. The data is coming out now. Perhaps KEB Hana Securities, Samsung Securities, Daishin Securities, etc., have all exceeded 2,900 points. Of course, there are securities firms that find it difficult to reach 2,900 points. Korea Investment & Securities stands out. I don't watch parliamentary broadcasts often, but occasionally. I noticed that there are one or two lawmakers who go against the flow. That's why I came here to talk about it today. I aim for 2,900 points in August.

I have a thought that it's not easy to exceed 20,000 in August. I will explain the reasons in three points. Why is it not easy to exceed 20,000 in August? First, what I mentioned earlier is that the good performance of the companies is already largely reflected in the stock prices. What does this mean? Expectations are already high, right? Isn't it true that the performance of Hynix and Samsung Electronics is not very good? But why is there a lack of additional increase? It's because it has already been factored into the additional increase, making further rise not easy. Second, although the increase in other countries in the first half of this year is not significant, the Korean KOSPI has risen quite a bit from 2,600 points to 2,900 points, right? As it reached a peak, when we look at the period of the rise, it has only risen for about four months. However, how much correction has there been recently? It's only been three weeks until this week. It's still considered too short for a correction period.

This is the third and last point. In September, the Federal Reserve Board will cut interest rates. Consequently, our stock prices should go up now. I have emphasized several times that an interest rate cut is not a cure-all. In my opinion, an interest rate cut can prevent a crash, but it's not enough to turn it into a rise. The fact is, this morning, the Bank of England cut interest rates, didn't they? European stock markets fell by 2%. What's that about? Does the stock price go up just because interest rates are cut? Then, should we make all interest rates zero? That's a completely illogical statement. So, how should we approach investment strategies? Personally, I hope stock prices will rise significantly to 2,900 or 3,000. However, reality is reality. I think the Kospi will continue in the current range in August. Therefore, reaching 2,900 won't be easy, so I believe recently.

Cash that I've been talking about, 30%, is more important than any other stock. It's more important than Samsung Electronics, Hyundai, and Kia. If you always have 30% of cash, you can wisely overcome this turbulence. Yes, understood. Also, breaking news just came in. In July, the domestic consumer price index rose by 2.6% compared to the same period last year. It's the second consecutive month at 2%, but it's back to an increase after three months. Yes, last month it was 2.4%, right? That's correct. The oil prices have slightly increased, and there are rumors that agricultural and livestock products have also gone up. We will keep an eye on how this will affect the domestic stock market. Let's pay attention to whether it will have any impact on the KOSPI index. Director Min-no's opinion is that a cautious investment strategy is needed despite the optimistic view on the KOSPI.

I watched it, and next, let's take a look at the news related to the merger of the front-line companies that showed a strong trend the day before. The related stocks showed strength early on. Recently, with the strong correction of U.S. big tech companies, the stock prices hesitated and then rebounded. What is called a super cycle. It is well known to our investors that money follows strength. However, in order for there to be additional upward potential in the second half, it seems that new news needs to come out. How do you see it, CEO Kim Soo-young? Oh, did you worry about blue in front of the anchor? Personally, I like blue the best. And in the U.S. market, blue tends to rise, so I might have the opposite opinion. Also, we need to briefly discuss what dropped out of the U.S. market yesterday. It's about tech stocks, so I've mentioned this before, but when interest rates are low, I said not to be afraid of raising interest rates. Because after raising interest rates, a few

After a few months, there has always been an economic downturn, so you said not to expect this, but I missed one thing yesterday. Because you said it seems like there will be an interest rate hike in September, then wouldn't an economic downturn be coming? Now that I've come to my senses a bit, what I felt after listening to the FMC this time is, even though it seems like it might happen in September, there hasn't been any change in Powell's remarks. From my perspective, it doesn't seem necessary to focus too much on doing something in September. Some people said on Fed Watch that over 90% think there will be a rate hike. They also said over 90% in March. Therefore, based on the current situation, from my perspective, the likelihood of an interest rate hike in September is not very high. It's only around 50%, so I think we need to wait and see. First of all, I will lay the groundwork by saying that. Recently, the stock prices of big tech companies have been continuously falling.

But this is inevitably going to move according to the current interest rate situation in the United States, and there are also some supply-related issues within the U.S., so this might need to be discussed separately. The most important thing for us, as the anchor mentioned, is performance. No matter how much the numbers fluctuate in the meantime, companies with good performance ultimately succeed. Why do we invest in the United States? What is the reason for leaving our country and going to the United States? Companies with good performance ultimately succeed. The same goes for South Korea. As I mentioned before, riding the AI trend, securing power for data centers is becoming urgent. Therefore, it is natural for domestic power companies to look beyond the domestic market and focus on global companies with good value and excellent technology. South Korean companies should continue to pay attention to this, and AI.

It is floating as a handmade product, but as I mentioned before, the electricity-related companies have relatively small market capitalization, so the volatility is very high. Therefore, those who are going to do this should either cut it off for the long term or invest very briefly. It is possible for those who are unclear about whether to do it in the mid-term to suffer damage. Therefore, this is an industry that you should always be cautious about. Even so, just 2 or 3 days ago, it was said that AI was over, but suddenly yesterday it surged and then fell again, so until yesterday, the market was like Oh, AI is not over yet, but today it fell again, so the concern is not AI, but the interest rate. Due to the worries about an economic downturn, concerns have risen, so it is not about individual stocks, but about the overall market.

There is a point in the current situation, and that's what I think is important. So, what I ultimately want to say is that AI is just the beginning. However, as I mentioned even in the last quarter, I think we need to consider some adjustments for the third quarter. I would like to suggest that investing in companies related to power and AI would be a good choice. I advised to continue investing in power-related stocks. Securities firms have also expressed a long-term outlook, especially in the power sector, so I recommend keeping an eye on stock prices. Now, Nexon Games surged by 21% yesterday thanks to the success of their new game Post Descendants. How about you, Mr. Hachang Bonjang, who seems to play games a lot in general, what do you think about it?

In the case of game companies, it is now crucial how much existing games can maintain revenue and how explosively new games can bring in profits. Typically, when a new game is announced, the daily revenue initially increases, but then gradually declines. The faster this decline occurs, the quicker the stock price reflects such expectations and reverses the trend. Currently, in the case of games released by Nexon Games, traffic and other aspects are being maintained steadily. Moreover, the introduction of new game characters is receiving very positive reviews in terms of game rankings. When it comes to investing in game stocks, as you may already know, companies pay close attention to users' opinions and feedback while playing games.

If they don't accept it, but here, communication is going very well, and users are maintaining very positive evaluations. Users seem to like the game, and despite some strange operations, the game developers are showing good performance. For example, companies like Ragnarok and Naver are listed on the Nasdaq and have been increasing their sales for six years. Despite that, the fact that there is still some popularity could be seen as a positive aspect. Also, in the case of South Korea, although they have been focusing more on China, this time they are expanding their focus to Western countries. It is said that China is not as popular yet, but there are expectations that this could continue to grow in the future. Recently, in the case of domestic game companies,

Also, we are placing great importance on expanding into the U.S. market based on consoles. When our Korean games enter the Chinese market, there is a structural limitation where we cannot directly enter but have to rely on publishing. The main reason Tencent is significant is for that one reason. Therefore, it is important for us to explore other markets and aim to capture the Western market. In terms of the stock price target, it jumped from the 25,000 KRW range to the 36,000 KRW range all at once, which may have been influenced by such aggressive targets.  
Yes, I understand. Let's also anticipate further rise for Nexon Games. Shall we continue to check the fastest report and come back? Caster Park Jeong-eun is preparing. We will provide a summary of the report released this morning, the fastest report.

It's time. Securities firms have been releasing reports since early hours today, the last trading day of the week. Today, a report on Samsung Electronics' target price was revised upwards, and LS Securities and Hanwha Securities also raised their target prices for BH stocks. On the other hand, a report on Nexon Games, which has been showing a sharp increase in stock price amid the success of First Descendants, has been attracting attention. Additionally, reports on BGF Retail and SK Innovation with downward opinions have been released. Let's first take a look at the report on Samsung Electronics. BNK Investment & Securities evaluated that although the overall profitability of Samsung Electronics is slow to improve, the growth trend of the MLCC core business will continue. With second-quarter sales exceeding the consensus at 2.58 trillion KRW and operating profit meeting expectations at 281 billion KRW, the mobile business is

Despite the sluggish situation, it is expected that the increase in industrial and defense demand, as well as the demand increase due to the creation of on-device AI market, could be effective. Please note that the target stock price has been raised to 190,000 won. Lastly, this is the BH report. Hana Financial Investment stated today that BH is expected to achieve its highest-ever performance in the third quarter, and they have revised the target stock price from 3,000 won to 35,000 won, a 133% increase. BH's second-quarter sales increased by 53% compared to last year, reaching 4,689 billion won, and operating profit increased by 223% to 31.3 billion won. They evaluated it as a strong performance that significantly exceeds the recently upwardly revised consensus. They forecast that not only the main industry of wireless charging modules for vehicles will have a positive effect, but also the revenue from North American customers will be renewed. This was the fastest report and disclosure by Park Jeong-won. The next news is about semiconductor makers delivering a bit disappointing news in the slightly sluggish auto sector.

The industry showed an uneasy start in the second half of the year. Sales performance in July was weaker than in June. While the automotive industry is trying to rebound, there is a sense of uncertainty about future prospects and investment strategies. Director Nam Min-ho will elaborate on this. From last year to the first half of this year, the leading export industry in South Korea has been the automotive sector. However, there have been some cautious signs in July this year. For example, Hyundai's contracts decreased by about 6%, resulting in a slight drop in sales by 3%. Nevertheless, this is not expected to have a significant impact. I attribute this to three factors. Firstly, it's not only happening in our country; global demand for automobiles is slowing down. Secondly, the decline in sales of electric vehicles, also known as EVs, is likely to have a direct impact. What about the third factor?

Modern skills are not relevant, but some car companies are still experiencing production losses due to labor union issues. Such news is being reported. Now, let's delve into investment strategies. Just now, President Kim Seon-young mentioned that in the third quarter, there is a possibility of a slight downturn or a pause. I agree with the same logic. I think it will not be easy for the Kospi to exceed 2,900 points in August. Does this mean that the stock prices will fall if it doesn't reach that level? Not at all. I believe that ultimately, whether it's in the fourth quarter of this year, the Kospi, the automotive industry, or the semiconductor industry, the highest figures will likely come out. The issue is that in the third quarter, specifically in August and September, a cautious investment approach is necessary. I have emphasized to you several times about four or five portfolios.

There was cash 30% in the first one, Samsung Electronics 20% in the second one, Hynix 10% in the third one, Hyundai and Kia Motors each 10%, if you have a portfolio of 80% like this, even if the stock price is manipulated, your losses will be much lower than other investors. I would like to emphasize this. Yes, Hyundai is gathering attention ahead of the launch of the Casper Electric. However, it is still in the waiting demand stage. New car deliveries are expected to pick up after September, but we will have to see how effective it will be. Korean cosmetics are very popular globally. Beauty brands swept the sales rankings at the Amazon Prime Day event. They showed great strength. Now, let's hear more details from Director Kim Sung-jun. Yes, actually, it might be a story that many have heard, but when the market is this tough.

The proportion of cosmetics in the total amount is relatively low, and when viewed from the perspective of performance, it has shown a significant trend as a leading competitor in a challenging market. Therefore, in such times, it is better to pay attention to these aspects again and prepare once more. Furthermore, the dominance of domestic companies in the Amazon Prime waiting list continues, and not only large corporations but also small and medium-sized enterprises are showing a quite positive trend to the extent of being included in the top rankings. Looking at the export data, cosmetics are now ranked second in terms of export growth rate following semiconductors. Particularly, the North American region shows a rapid increase of about 61%, and in terms of amount, Japan, the top exporting country, also increased by 21.5%.

They showed their appearance, on the other hand, China showed a trend of a 14% decrease. This was the trend that was shown in the first half of the year. Oh, especially what I am paying attention to now is Silicon 2, which could be a midstream distribution company. Through earnings surprises in the last quarter, they led overall cosmetic-related stocks. Oh, I am now paying attention to their financial results announcement. Especially, once Amazon was aggressively recruiting domestic KBT companies in Korea, there were concerns that their performance might deteriorate a bit. So, this quarter's performance seems important. Generally, they used to announce their financial results around August 15th at the end of the quarter, but in the last quarter, they announced it much earlier, about a week ahead. So, depending on whether they announce the results quickly this time or not, it will have an impact on their performance.

Maybe you could try to anticipate the situation, and overall, now regarding performance, especially recently after the acquisition of Course Alex, Amore Pacific has also achieved a strong first place in the Amazon competition. They have been continuously dominating the market up to 2 to 3 times, especially after the acquisition of Course Alex. Therefore, Amore Pacific is the largest in terms of market capitalization, making it a preferred option for institutional and foreign investors. Among the companies participating in the recent Amazon event, VT is one of them. In fact, most of VT's sales are generated in Japan. This time, they have gained significant popularity with their new products, achieving over 20 times more sales in June than before. In this context, it is necessary to pay attention to VT in the upcoming earnings season.

I will tell you. Yes, it is said that as the economy is in a downturn, women's lipstick colors become more vibrant. I heard people say to keep an eye on companies preparing to announce their performance results, especially those related to cosmetics. As our cosmetics companies, which have captured the North American market with basic products, are expanding their investments in color products recently, I will continue to pray for a positive trend overall. The next news is about KT, the leader in telecommunications, fiercely chasing SK Telecom. KT, which has emphasized shareholder returns, has seen its stock price rise by over 12% this year. However, yesterday SK Telecom held an analyst meeting and claimed that they are not a telecommunications company but an AI company. I will ask CEO Kim Soo-young about the future outlook for telecommunications companies. Yes, it seems like the right time to do so. Actually, I also felt that way after hearing that. As you said, Anchor.

One of the biggest issues in the Korean stock market this year seems to be related to KT, a major player. In terms of market capitalization, it was mentioned that KT is closely following KT SKT. Actually, this year, KT's stock price has increased by 10.6%, while SK Telecom has risen by 7.19%. It is expected that such discussions will continue. The key point here is that KT announced a plan last October to repurchase its own shares and even exceed that. They mentioned a plan to reduce their net profit by 50%. In reality, in May, they burned 2% of their own shares, equivalent to 4.41% of the total shares, at a price of 1,789 won per share. By implementing quarterly dividends for the first time this year, they have adopted a policy to give a little more to their shareholders.

Even if that's the case, I rate it highly. But even so, we need to take one more step. Now, looking at the dividend yield, it came out as 1.3%. However, if we multiply this by 4, the annual cumulative return would be 5.2%. As you may know, telecom stocks generally have high dividend yields, much higher than high-interest savings accounts. That's right, they have been high historically and still remain so. Although it may seem high, the point I want to make is that multiplying the dividend yield of 1.3% by 4 results in 5.2%, which is not significantly different from the expected annual dividend yield of over 5%. Therefore, the difference is not that significant. For example, SK Telecom announced a quarterly dividend of 1.6% on July 26th, which would result in 6.8% when multiplied by 4.

Instead, the dividend yield for KT is actually higher. But what SK Telecom needs is to repurchase its own shares and burn them. It seems necessary. If they implement more shareholder-friendly policies, it is likely to be reflected in the stock price. So, I would like to ask them to work hard this year. Regarding the repurchase of shares, will they do it or not? I don't think they will do it. At the moment, it seems unlikely. We may need to consider it more in the long term. Alright, thank you. It's now 8:21. Last night, the New York market plunged, causing anxiety. Before the market opens, I will check with Director Ha Chang-hwan. Firstly, the situation is quite different from the previous day's plunge. When the Philadelphia Semiconductor Index rose by 7% overnight, the futures were up by 0.82%. However, today, with the Philadelphia Semiconductor Index dropping by 7%, the overnight futures are -

2.21% has been dropped, so in the case of the domestic stock market, the KOSPI needs to drop by about 1.2% first. Let me explain the situation a bit. Currently, the difference between the spot and futures prices is maintaining a basis of 2 on average. When comparing the closing price of the previous day with the KOSPI 200, there is a difference of over 6.4. This leads to an even greater difference when compared with the futures, so it is expected to adjust the KOSPI accordingly. Recently, there has been a significant increase in cumulative foreign buying of futures, mainly focused on semiconductors. Therefore, it would be advisable to check the maximum possible volume, which could be around minus 5 trillion. So, it doesn't mean that everything will be released today. If additional technology stocks like Diana from the NASDAQ...

As the trend has not been clearly established yet, it is crucial to assume that a significant volume may come out when additional adjustments are made. Therefore, it seems very important to make transactions for now. Additionally, there were also positive aspects in the U.S. market. The healthcare sector is flowing quite well, and in Korea, there is a situation where the market capitalization in the KOSDAQ is about to change to the 1st or 2nd place. The situation is quite competitive in the secondary battery and healthcare sectors. The bio sector has risen significantly in terms of market capitalization, and today, there are important supply periods in the secondary battery sector. For instance, Samsung SDI has supply periods related to the North American 1 trillion won project, and Posco International has supply periods related to electric vehicle reducers.

Innovation now needs to provide a room related to merger drive. In that aspect, if there are areas where trust is slightly crumbling, Tesla also dropped more than 6%, which could potentially have some impact on Ascenti. It seems that the market capitalization could change a bit. Also, in the case of bio, from August to November, there is quite a momentum, so you should also consider a slightly bullish trend accordingly. And you should check the geopolitical risks. Of course, if you look at international oil prices, the impact may be somewhat limited, but it would be good to check that events can occur anytime over the weekend. Yes, understood. This concludes today's session. Thank you for being with us for four minutes. Thank you. If you want to continue to learn about various economic issues, please subscribe, like, and turn on notifications. Thank you. AI Caster.

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반도체주 한-미 ‘디커플링’…왜?ㅣ7월도 부진 못 면한 완성차, 반등의 키는?ㅣK뷰티, 아마존 판매 랭킹 '싹쓸이'ㅣ [#이슈N전략]ㅣ머니플러스

반도체주 한-미 ‘디커플링’…왜?ㅣ7월도 부진 못 면한 완성차, 반등의 키는?ㅣK뷰티, 아마존 판매 랭킹 '싹쓸이'ㅣ [#이슈N전략]ㅣ머니플러스

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