Korea Pre-Market Morning Briefing: Macro Volatility and Sector Concentration

### 1. Global Macro Environment and Open Direction Analyzing the pre-market conditions based on overnight US market closes and macro indicators. The USD/KRW exchange rate is 1,374.8, the US 10-year Treasury yield is 5.01%, WTI crude is $91.83/bbl, and Fed net liquidity stands at $5,868.9B. Despite high interest rates and currency volatility, market capital concentrates on sectors with specific fundamentals. Screening of the KR market reveals breakout leaders concentrated in machinery and general manufacturing, steel and industrial metal materials, and finance/securities sectors. These sectors share export and currency benefits along with quantum leaps in order backlogs, achieving a 1.0x average volume surge and breaking above upper resistance lines . Conversely, breakdown candidate groups in construction, general manufacturing, and health supplements share vulnerabilities to high interest rates and sluggish forward demand. They recorded an average 1.1x volume and downward trends. A distinct K-shaped divergence is unfolding within the machinery sector between export-backed breakout groups and lagging breakdown groups. ### 2. Core Momentum Stocks Aligned with Common Thesis LS Eco Energy (229640.KS) in machinery manufacturing trades at 59,900 KRW with a -0.99% return and 13.7 billion KRW in turnover. It shows a strong upward trend, up 33.9% over the past month, targeting the upper resistance at 63,000 KRW with a lower support at 53,400 KRW. Phased accumulation near support is advised. SNT Energy (100840.KS) trades at 36,750 KRW with a +0.14% return and 3.0 billion KRW turnover. Up 31.0% over the past month, it tests the upper resistance at 39,400 KRW with support at 35,800 KRW, warranting measured exposure expansion. Samsung Electronics (005930.KS) trades at 274,000 KRW with a +4.98% return and 6.3 trillion KRW turnover. Maintaining an upward trajectory of +6.6% over 20 days, it operates between upper resistance at 288,000 KRW and lower support at 189,200 KRW, serving as a core asset. ### 3. Downside Risk and Restricted Equities Newon (123840.KQ) in health biotech trades at 1,849 KRW with a -4.00% return and zero turnover. Given the lack of trading value and structural volatility between support at 1,355 KRW and resistance at 2,325 KRW, new purchases are strictly prohibited. Doshin Engineering (025950.KQ) trades at 9,950 KRW with a -0.90% return and 1.0 billion KRW turnover. Exhibiting a -3.7% 20-day return within a consolidation range, high-interest sensitivity dictates reduction on rallies. ### 4. Portfolio Operation Principles and Risk Guidelines During the market open, strict cross-checking of volume expansion ratios against the 20-day average and distance from upper resistance is required. Phased entries apply to fundamentally sound export leaders while chasing is restricted. For vulnerable construction and domestic equities, a policy of reducing exposure on rebounds must be enforced to maintain portfolio quality. Maintaining adequate cash reserves remains a top priority against macro uncertainty.