▶ September 29, 2026 K-Stock Live

▶ Mon–Fri 13:00

📌 Cast

Host: Anchor On In-ju

Caster: Caster Gu Yun-woo

Expert 1: Lee Kwon-hee, CEO of Wizwave

Expert 2: Lee Hwa-jin, Deputy Manager, Meritz Securities Gwanghwamun Premier Center

Expert 3: Lee Jin-woo, Director of GFM Investment Research Institute

Production: PD Yang Kyung-sik, Writer Kwon Su-ji, AD Kim Yu-hwan

📈 Semiconductor Materials, Parts, and Equipment: Focus on Buying Opportunities During Corrections

• For the recently surging materials, parts, and equipment sector, a strategy of staggered entry during corrections is suggested rather than chasing the rally.

• Focus on the long-term growth potential of the semiconductor industry through Micron's long-term supply contracts and large-scale expansion plans.

• Opinions suggest that while both front-end and back-end processes are expected to benefit from the 5-year cycle, investors should avoid chasing stocks that have surged in the short term.

• Adjust the weighting of materials, parts, and equipment to 10–20%, and utilizing ETFs is presented as an alternative.

🏦 Growth Stocks and Semiconductors Differentiate Despite High Interest Rates

• US Long-term Interest Rates Rising Stocks Act as Pressure on Foreign Investor Supply

• However, analysis suggests that semiconductor and AI-related companies with high profit growth potential may offset interest rate burdens

• Need to monitor interest rate trends alongside macroeconomic indicators such as US employment and inflation

💰 Samsung Electronics Ends Share Buyback; Earnings Are the Key

• As Samsung Electronics’ share buyback program effectively enters its final phase, concerns are being raised about the potential weakening of supply and demand support

• However, opinions suggest focusing more on fundamentals—such as semiconductor market conditions, earnings, and HBM4 shipments—rather than on the buybacks

• With domestic semiconductor exports increasing significantly, earnings expectations for Samsung Electronics and SK Hynix are rising

🌍 Growing Instability in Global Bond Markets

• Volatility in the global bond market is increasing as long-term interest rates in major countries such as the US, UK, and France rise in tandem

• In particular, rising French government bond yields and fiscal and political risks are emerging as new variables

• Amid a preference for safe assets, a trend is emerging where funds are shifting toward relatively stable government bonds within Europe

⚡ Q4 Focus on Non-Semiconductor Sectors: Nuclear Power, ESS, and Power Infrastructure

• Key announcements include the Basic Plan for Electricity Supply and Demand and policies related to nuclear power and SMRs in October Variables

• Expansion of the ESS market and the November central ESS bidding are presented as momentum drivers for related stocks.

• Power equipment and cables are also mentioned as areas of interest, based on increased power demand from AI data centers and rising exports.

📡 Optical Communication and CPO Also Benefit from AI Infrastructure

• Improvement in the optical communication and CPO market conditions is expected due to increased demand for inter-data center connectivity.

• Opinions suggest verifying the actual equipment supply and earnings of related companies.

• Emphasis is placed on examining earnings and valuations together rather than simply following themes.

🚗 Secondary Batteries and Cosmetics: A Trading Perspective

• For secondary batteries, focus on the expansion of ESS and increased LFP shipments.

• For cosmetics, given recent stock weakness despite increased exports, it is necessary to check earnings announcements and rebound timing.

• For the defense sector, a cautious approach is needed considering diplomatic and policy variables as well as changes in weapon systems.

🎯 Key Investment Strategies

• Semiconductor Materials, Parts, and Equipment: Approach during corrections rather than chasing sharp rises.

• Large-cap Semiconductor Stocks: Focus on fundamentals such as earnings and HBM4 rather than treasury stocks. Non-Semiconductor: Interest in Nuclear Power, ESS, Power Infrastructure, and Secondary Batteries

• General: Check earnings, supply and demand, and policy momentum together, focusing on industries connected to AI data center investments

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