[Real Market Commentary] Foreigners sell 8 ten-thousand futures contracts: Next week is the real turning point for Samsung and SK hynix / Will foreign selling end? | Choi Chang-gyu, Mirae Asset Global Investments
- What to look for
- Explore how investment attention shifts toward platforms, optical communications, CPUs and memory after the AI revenue debate, alongside an interpretation of foreign cash-market, futures and options activity.
- Why it matters
- Learn to distinguish industry growth outlooks from investment recovery, company earnings and mechanical ETF flows, and confirm estimated derivatives positions through actual trading changes.
AI summary
Choi Chang-gyu interprets the US market after the OpenAI revenue controversy as beginning to test returns and cash flows from massive AI investment, rather than questioning AI growth itself. He views overseas stock and ETF trading—reduced high-leverage semiconductor exposure and diversification into platforms, dividends, short-term bonds and broad indices—as rotation within AI, not abandonment. He introduces Lasertec’s mask-inspection equipment and agentic-AI demand for CPUs, memory and connectivity as potential beneficiary pathways. Server CPU outlooks are report assumptions dependent on architectural roles, power efficiency and concurrency, not a declaration of one winner across all CPUs. For Samsung Electronics, he emphasizes the durability of high memory profitability; for ETF rebalancing, he distinguishes underlying-index schedules from actual trading spread across dates. In Korea, he is cautious about foreign cash-market and non-arbitrage basket selling and estimated bearish futures and options positions, while also watching battery ESS results and covered-call ETF preferences. He closes by recommending observation of AI customer orders and changes in foreign positions when inflation and TSMC earnings are released. All directional outlooks are the speakers’ conditional judgments and do not establish a definitive short-term price prediction.