Korea Pre-Market Morning Strategy: Machinery and Power Grid Value Chain Focus Amid Macro Pressures

### 1. Global Macro Environment and Open Direction Check Global macro indicators linked to the overnight US market close show the USD/KRW exchange rate at 1,367.4 won, the US 10-year Treasury yield at 5.18%, and WTI crude oil at $92.41. Amid the high-interest-rate stance and expanding exchange rate volatility, the domestic market is exhibiting a selective rally centered on large-cap exporters and fundamental breakout stocks. Scanning the overall KR market chart data today reveals that upward breakout stocks are concentrated in machinery and general industrial manufacturing, steel and industrial metal materials, and financial/holding sectors. Business model wise, companies securing export margins and surging order backlogs have driven the money flow. Conversely, downward breakdown monitoring targets, centered around construction, civil infrastructure, health supplements, and biotech health sectors, are taking a hit from growth valuation discounts and slowing forward demand due to prolonged high interest rates. Extreme K-shaped polarization based on earnings fundamentals is underway within the same industrial groups. ### 2. High-Conviction Momentum Stocks Aligned with Common Thesis - **LS-EcoEnergy (229640.KS)**: Recorded a current price of 64,000 won (+7.56% intraday), surging 32.2% from its lows over the past month. Trading volume exploded to 2.8 times the 20-day average, forming a strong upward trend targeting the upper resistance line at 67,800 won. Chase buying should be avoided near the upper resistance, and phased entries based on the lower support line at 59,600 won are valid. The stop-loss price is set upon breaking 57,000 won. - **SK Hynix (000660.KS)**: Recorded a current price of 1,862,000 won (+1.20% intraday) with trading value at 5.5 trillion won, leading market representative indices. Maintaining a gradual upward trend over the past month, it is attempting to break the upper resistance line at 1,935,000 won. Rather than chasing short-term overheating, targeting pullbacks tied to the lower support line at 1,246,000 won within 20 days is appropriate. - **Samsung Electronics (005930.KS)**: Recorded a current price of 285,500 won (+3.25% intraday) with trading value at 6.0 trillion won, reinforcing capital inflows. It is on the verge of entering the upper resistance line of 288,000 won with a tight disparity of +2.5%. Based on solid semiconductor fundamentals, approach with phased purchases after confirming settlement at the market open. ### 3. Downside Volatility Expansion and Restricted Buy Stocks - **Dongshin Construction (025950.KQ)**: Recorded a current price of 9,880 won (-1.10% intraday), showing a downward trajectory from its 1-month high. Slowing forward demand in the construction and civil infrastructure sector alongside high interest rate burdens has led to risks of breaking the 1-month core support line. Given the wide gap from the upper resistance line at 13,840 won, reducing exposure during short-term rebounds is recommended. - **Nuon (123840.KQ)**: Recorded a current price of 1,750 won (-1.30% intraday), consuming energy at the bottom of the trading range. Stagnant capital inflow and a lack of trading value within the health supplement and biotech health sector raise concerns over downside volatility expansion. Monitor threats to the lower support line at 1,355 won and strictly prohibit buying. - **BQ AI (148780.KQ)**: Recorded a current price of 3,755 won (-4.21% intraday) and is undergoing consolidation. Marginal companies lacking earnings visibility within the internet/software sector are experiencing selling pressure, making new entries excludable. ### 4. Portfolio Operating Principles and Risk Guidelines Selective trading must be executed after closely verifying opening auction supply and demand and order book residual quantities of high trading value stocks. Compress portfolio weights centered on large-cap index stocks and export leaders with verified order backlogs, while refraining from chasing indiscriminate thematic stocks. Reflecting the 5.18% interest rate environment, maintain a cash weighting of 30% or more within the overall portfolio and rigorously execute risk management. For downward breakout stocks, mechanically apply stop-loss principles during rebounds to defend against capital losses.