摩根大通增持多家韩国KOSDAQ材料零部件设备公司至5%以上

JPMorgan has increased its holdings in KOSDAQ-listed materials, parts and equipment companies that had undergone price corrections, securing stakes of more than 5%. The move is interpreted as a selection of stocks expected to see earnings improvement on the back of a semiconductor upturn and artificial intelligence (AI) infrastructure investment.
According to the Financial Supervisory Service's electronic disclosure system on the 12th, JPMorgan newly disclosed that it held more than 5% stakes in Leeno Industrial (5.11%), TLB (5.13%), MK Electron (5.15%) and Sungkwang Bend (5.20%) on the 9th and 10th of this month. Based on the closing prices on the 10th, the holdings were valued at approximately 381.1 billion won. JPMorgan's stakes in the four companies exceeded 5% between the 3rd and 7th of this month, triggering a new reporting obligation. The purpose of the holdings is simple investment.
The four companies are earnings-driven materials, parts and equipment firms with a high proportion of exports. Leeno Industrial produces semiconductor test pins and sockets, TLB makes printed circuit boards (PCBs) for memory modules and SSDs, and MK Electron produces semiconductor packaging materials. Sungkwang Bend, whose main business is fittings for shipbuilding and nuclear power, is expanding into cooling pipes for AI data centers.
The timing of the purchases also draws attention. The four companies' share prices have fallen to around 40% below their yearly highs. In contrast, the second-quarter operating profit consensus for TLB and MK Electron stands at 12.6 billion won and 30 billion won, respectively, projected to rise 84.1% and 155.0% from the same period a year earlier. Leeno Industrial and Sungkwang Bend are also forecast to gain more than 21%. This is interpreted as expanding stakes in stocks whose valuation burden has eased while earnings growth prospects have been maintained.
Some in the market view this as a starting point for a recovery in KOSDAQ investment sentiment. Foreign investors net bought 506.2 billion won on the KOSDAQ market from the start of this month through the 10th. Foreigners bought 266.4 billion won worth of Leeno Industrial, making it the top net buy on the KOSDAQ, and showed buying preference in materials, parts and equipment stocks including ISC (244 billion won), EO Technics (142.3 billion won) and HPSP (101 billion won).
Analysts in the securities industry say that if the concentration on large-cap KOSPI stocks eases and a stock-picking market spreads, KOSDAQ earnings stocks that have suffered large declines could rebound. "If the supply and demand concentrated on top market-cap stocks disperses, KOSDAQ's relative strength will increase," said Kim Jun-young, a researcher at iM Securities.