Seoul Searching: KOSPI and Semis Poised for Bigger Top as Rotation Continues

BTIG reports that the KOSPI and semiconductor sectors (SOXX) are exhibiting medium-term topping patterns with significant downside risk. Capital is rotating into defensive areas like Healthcare, REITs, and Insurance.

Key Takeaways

• 1.The KOSPI index is showing signs of a medium-term topping structure, with significant downside risk if it breaks current support.
• 2.Semiconductor equities (SOXX) are entering a correction phase with potential further downside of 20-25%.
• 3.Market capital is rotating into defensive and low-momentum sectors including Healthcare, REITs, and Insurance.

Table of Contents

• Seoul Searching
• Appendix: Analyst Certification and Other Important Disclosures
• Other Disclosures
• Jurisdiction and Dissemination

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