The stocks most heavily bought by high-return investors trading through Mirae Asset Securities on the morning of the 13th were SK hynix (000660.KS), Samsung Electronics (005930.KS), Samsung Electro-Mechanics (009150.KS) and SK (034730.KS), in that order.
According to Mirae Asset Securities, the stock most heavily purchased through 11 a.m. by "stock masters" — investors ranking in the top 1% by return over the past month among the brokerage's trading clients — was SK hynix. As of 1:53 p.m., SK hynix was trading at 1,889,000 won, down 13.35% from the previous session.
SK hynix, which listed American Depositary Receipts (ADRs) on the Nasdaq on the 10th, had drawn expectations of a valuation re-rating, but the stock has been plunging on concerns over a semiconductor peak-out. In particular, analysis emerged that its second-quarter earnings this year would fall short of market expectations, causing the stock to swing sharply.
In a report on the 13th, Chae Min-sook, an analyst at Korea Investment & Securities, estimated SK hynix's second-quarter consolidated revenue at 80.9 trillion won and operating profit at 60.4 trillion won. These figures represent increases of 54% and 61%, respectively, from the previous quarter, but the operating profit is about 8% below the market consensus of 65 trillion won.
"Because its share of HBM revenue is higher than that of competitors, its average selling price (ASP) increase rate was lower than the market average," Chae said. "From the third quarter, when HBM4 enters full-scale mass production, the company will record an ASP increase rate at the market-average level." She estimated that second-quarter DRAM and NAND flash ASPs rose about 30% and 50%, respectively, from the previous quarter.
The second most bought stock was Samsung Electronics. Samsung Electronics was trading at 258,750 won, down 9.21% from the previous session. Samsung Electronics posted second-quarter operating profit of 89.4 trillion won this year, breaking its record for the highest earnings for the third consecutive quarter. However, with earnings expectations already elevated, profit-taking has emerged, weighing on the stock. In addition, concerns over a global semiconductor peak-out have not easily subsided, increasing volatility.
"Even with the successful ADR listing of SK hynix, concerns over the fundamental cycle peak-out in the memory market have not been resolved," said Han Ji-young, an analyst at Kiwoom Securities. "The record-level volatility in semiconductor stocks is increasing fatigue and creating an atmosphere of capital outflows."
Third on the list was Samsung Electro-Mechanics. Although Samsung Electro-Mechanics was also plunging 17.99% on the day, this is interpreted as an influx of bargain-hunting demand. Samsung Electro-Mechanics is expected to achieve second-quarter earnings that exceed market forecasts this year.
"We expect second-quarter operating profit of 423.9 billion won, exceeding our previous estimate of 387 billion won and the consensus of 385.6 billion won by 9.5% and 9.9%, respectively," said Park Kang-ho, an analyst at Daishin Securities. "As investment in artificial intelligence (AI) data center infrastructure expands and the trend toward higher semiconductor specifications continues, demand for server-oriented FC BGA and MLCC will exceed expectations, intensifying the supply shortage situation."
The most heavily sold stocks on the day were Pharma Research (214450.KS), GS P&L (499790.KS), Cosmax (192820.KS) and LIG Defense & Aerospace (079550.KS), in that order. On the previous trading day (the 10th), the most heavily bought stocks were SK hynix, Samsung Securities (016360.KS) and Daeduck Electronics (353200.KS). The most heavily sold stocks were Wonik IPS (240810.KQ), SK and SK Square (402340.KS), in that order.
Mirae Asset Securities compiles the trades of investors ranking in the top 1% by return over the past month among its clients and discloses them on its mobile trading system (MTS) on a real-time, previous-day and recent five-day basis. This statistical data is simple informational guidance unrelated to the opinions of Mirae Asset Securities and does not guarantee investment or returns suited to each individual investor. In addition, theme stocks may experience abnormal spikes and plunges, so caution is advised.
