[September (month 9) 28 Closing Market Report] Money Still Rotated Despite the KOSPI's Sharp Drop…Changes in Trading Flows to Watch Before the Index | Hong Seon-ae, Lee Kwon-hee, Kim Jang-yeol [Closing Bell Live]

The speakers summarize the September (month 9) 28 session as a market driven mainly by the largest companies by market capitalization: the KOSPI closed at 6,889, down 2.7%, amid foreign selling of 3.6 trillion won and institutional selling of 1.3 trillion won, even though advancing stocks outnumbered decliners. The center director diagnoses the selloff as a disruption in trading flows to which Korea alone overreacted, unlike Japan: Samsung Electronics and SK hynix plunged in the 5% range as the US 10-year yield reached 5.2% and weak links involving Oracle, CDS, and capex came into focus. The director notes that the KOSPI's 4.8% rise relative to July (month 7) 31 outpaced the 3% gains in the US and Japan, but highlights a valuation discount in the 50% range despite gains of 33% for SK hynix ADRs and 31% for Micron. The speakers examine rotation among mid-ranking stocks in solar energy, 2 chajeon [unclear caption], biotech, substrates, and AI healthcare, reporting HLB's rise to its daily upper limit and sharp gains in Seojin System and Lunit. They view the force majeure notification involving Oracle, Blue Owl, and 180 hundred-million dollars, together with the CDS spike to 240bp, as developments requiring close monitoring from both individual-company and broader market-flow perspectives. For Micron's Thursday earnings, they regard gross margin rising from 84.9 to 86 or above 87, along with the LTA share, as more important than revenue, and discuss reducing exposure if Korea is left behind with a 1.8% gain against a 6% gain in the US. Citing the lesson of the abrupt reversal in EPS forecasts in 2000 and a CAPE multiple of 41, they identify whether results meet expectations as the turning point. All directional outlooks are the speakers' conditional judgments, not definitive predictions of short-term prices.