Korea Pre-Market Strategy: K-Shaped Polarization Focused on Export and Order Momentum Amid FX Stability

### 1. Global Macro Environment and Pre-Market Direction Global financial markets saw the USD/KRW rate settle at 1,367.4, while the US 10-year Treasury yield stood at 5.18%, sustaining a high-interest-rate environment. WTI crude oil closed at $92.41 per barrel, and Fed net liquidity was managed around $5,770.0B. These macro indicators increase capital cost burdens while driving liquidity concentration into firms with infrastructure- and export-driven fundamentals. A scan of all KR market chart data reveals a clear common thesis governing inflows and outflows. Breakout leaders concentrated in machinery and general industrial manufacturing, steel and industrial metal materials, and financial/holding/securities sectors. Business-wise, capital flowed into entities featuring export/FX benefits, surging order backlogs, and quantum earnings jumps. Chart patterns showed an average 1-month return of +3.2% and an average volume surge of 1.4x the 20-day average, successfully breaking above the upper resistance line . Conversely, downside risk groups shared vulnerabilities in rate-sensitive valuation discounts and margin compression from slowing forward demand, spanning construction/civil infrastructure, machinery/general manufacturing, and health functional foods/bio-health. These showed continued 1-month downtrends at +0.8%, short-term 60-minute D_ATTEMPT occurrences, and breakdown of the 1-month core support line . Notably, within machinery and manufacturing, breakout groups possess export margins and solid order momentum, whereas breakdown groups face sluggish demand and poor earnings, illustrating extreme K-shaped divergence within the same sector. ### 2. Core Momentum Stocks Aligned with the Common Thesis - **LS Eco Energy (229640.KS)**: Formed a strong upward trend with a 32.2% surge from the 1-month low, breaking upper resistance. Trading at 64,000 KRW with a volume surge of 2.8x the 20-day average. Upper resistance is set at 67,800 KRW and lower support at 59,600 KRW. Avoid chasing rallies in the overheating phase and apply a split-buying strategy after confirming support around 60,000 KRW. - **SK Hynix (000660.KS)**: Maintained a steady upward trend with a 7.6% gain over the past month, continuously raising lows. Trading at 1,862,000 KRW with a daily change of +1.20%, proving stability as a market-representing large cap. Positioned well for accumulation utilizing pullbacks between the upper resistance of 1,935,000 KRW and lower support of 1,246,000 KRW. - **Samsung Electronics (005930.KS)**: Continued its upward trajectory with a 1-month return of +7.3% and a 1.2x volume increase over the 20-day average. Trading at 285,500 KRW, where breaking the upper resistance of 288,000 KRW serves as a watershed for short-term momentum. Maintained as a core portfolio asset based on lower support at 189,200 KRW. ### 3. Downside Volatility Expansion and Restricted Buy Targets - **Nuon (123840.KQ)**: Belongs to health functional foods and bio-health, consolidating within a 1-month return range of +3.9%. Trading at 1,750 KRW with negligible trading value, facing risks between upper resistance at 2,325 KRW and lower support at 1,355 KRW. Major shareholder changes and capital reduction issues warrant strict prohibition of new purchases. - **Dongshin Construction (025950.KQ)**: Part of construction and civil infrastructure, showing a weak trend down 6.4% from the 1-month high. Trading at 9,880 KRW with stagnant 20-day volume and mounting upper resistance pressure. Upper resistance is 13,840 KRW and lower support is 8,170 KRW; breakdown signs call for a conservative reduction in weight. - **BQ AI (148780.KQ)**: Classified under internet software and AI solutions, experiencing downward pressure with a daily change of -4.21% at 3,755 KRW. Recording low liquidity with 300 million KRW in trading value while distant from upper resistance at 6,420 KRW. Apply cash-out principles on rebounds against support break risks. ### 4. Portfolio Operating Principles and Risk Guidelines During early market formation, close observation of divergence between index-linked large caps and individual momentum stocks is necessary. Considering USD/KRW exchange rate volatility and the high-interest-rate environment, portfolio weights must be concentrated on export and order-backed stocks with secured earnings visibility. For downside-vulnerable groups lacking trading value, additional purchases must be strictly excluded, prioritizing risk management above all. Maintain a cash proportion of 20% or more to counter intraday volatility.