U.S. Market Analysis & 한국 증시 데일리 브리핑
The U.S. markets were closed on Friday, July 3, for the Independence Day holiday, following a strong session on July 2 where the Dow surpassed the 52,900 mark. The Korean market opened higher today, hovering around the 8,100 range, but is facing increased volatility. Key attention remains on Samsung Electronics' earnings release and the upcoming FOMC minutes.
U.S. Market Analysis & 한국 증시 데일리 브리핑 — 2026-07-06
Summary of Previous U.S. Market Session
On Friday, July 3, the New York stock market and bond markets were completely closed in observance of Independence Day (July 4), which fell on a Saturday, resulting in a substitute holiday.
During the previous session on Thursday, July 2, the New York markets showed strong momentum, with the Dow Jones Industrial Average breaking through the 52,900 level for the first time in history. While the Nasdaq saw the semiconductor sector take a brief pause, the overall market maintained a firm closing position.
Key Themes and Issues in the Korean Market
1. Semiconductor Earnings Season Begins - Samsung Electronics Preliminary Results
The biggest focus for the domestic market this week is the preliminary earnings release from Samsung Electronics. It is expected to be a decisive moment to confirm the profit momentum of the semiconductor industry. As the KOSPI rebounded after falling more than 10% from its recent peak, a "break-even sentiment" has emerged, adding to the selling pressure.
2. Increased Volatility from Leveraged ETFs
A major issue dominating the Korean market in the first half of the year is single-stock leveraged ETFs. Mirae Asset Global Investments' TIGER 200IT Leveraged ETF recorded a first-half return of 781.5%, which, coupled with the K-semiconductor craze, has maximized volatility in the domestic market. Experts point out that such leveraged products can lead to fluctuations of hundreds of points in the index within a single day.
3. KOSPI Undervaluation - PER at Historic Low of 6x
Analysis suggests that the KOSPI is currently in a state of historic undervaluation. With a Price-to-Earnings Ratio (PER) of around 6x—an all-time low—some positive assessments suggest this could provide a foundation for a future rebound.
Stocks to Watch Today
1. Samsung Electronics – The Core Focus of Earnings Season
Despite the sluggish semiconductor market, Samsung is expected to provide direction through its preliminary earnings release. All eyes are on whether the second-quarter results, scheduled for release today, will serve as a catalyst to restore market confidence.
2. Memory Semiconductor-Related Companies
In pre-market trading in the U.S., memory semiconductor and AI-related stocks showed a rebound, which suggests a potential recovery for Korean semiconductor stocks.
3. Individual Components of the 200IT Leveraged ETF
Individual IT stocks tracked by the high-yield leveraged ETFs from the first half may be undervalued during the current adjustment phase. This could offer an accumulation opportunity for long-term value investors.
- Important: This briefing is for reference only, and the responsibility for investment decisions lies solely with the investor.
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