This week's market was driven by individual stocks rather than sectors. Samsung Electronics and SK Hynix led the index as leading stocks, while Hyundai Motor, Kia, and Samsung SDS showed expansionary trends and new narratives.This week's market clearly differentiated which stocks to prioritize within the same sector. Samsung Electronics and SK Hynix were, as expected, at the forefront.

As the KOSPI approached the 6000 mark again on the 14th, Samsung Electronics rose by 2.74% and SK Hynix by 6.06%. When the KOSPI recovered to the 6200 level on the 16th, Samsung Electronics also climbed 3.08% and SK Hynix 1.67%.

Notably, SK Hynix reached a new all-time high on the 16th. In this rebound, the market still confirmed the direction first through these two stocks.

The reason these two stocks were recognized again as leading indicators was not solely based on expectations. TSMC's earnings reaffirmed the strength of demand for AI semiconductors, and foreign capital in the Seoul market was the first to return to these large semiconductor stocks.

It was a natural progression for stocks with clear earnings and supply-demand dynamics to be the market's first choice. Seoul, once again, focused on the clarity of individual stocks rather than entire sectors.

The second pillar was the automotive sector. On the 16th, Hyundai Motor rose 5.12% and Kia 4.22%.

This was not just about expectations for the automotive industry but also demonstrated how market risk appetite expanded beyond semiconductors when coupled with falling oil prices and easing geopolitical risks.

If semiconductors were the main event, then the automotive sector was an expansionary stock that joined alongside. The atmosphere of a market where only a few leading stocks rise differs from a market where expansionary stocks join alongside the leading stocks. This week was closer to the latter.

The name that left the strongest impression among individual stocks was Samsung SDS.

Following KKR's announcement of a $820 million investment, the stock price surged by 20.8%, and KKR agreed to provide strategic advisory services for M&A, capital allocation, and AI expansion over the next six years. The market interpreted this not as a short-term factor but as a trend seeking the "next AI."

The perspective began to widen, no longer confining AI solely to semiconductor manufacturing but extending it to enterprise solutions and digital transformation.

Conversely, defense stocks, which had served as a safe haven, were the first to ease during the period of relief.

On the 14th, Hanwha Aerospace and LIG Nex1 group stocks showed weakness, and on the 17th, with expectations of easing tensions, profit-taking pressure became more pronounced.

This is less an indication that the long-term narrative of defense has been broken, and more that stocks where anxiety is heavily factored into the price tend to see the quickest outflow of capital when expectations of peace emerge. It is the paradox of a safe haven.

There are three key points to check for next week.

First, we need to see if Samsung Electronics and SK Hynix rebound after any adjustments. Leading stocks reveal their limitations more when they fall than when they rise.

Second, we need to confirm whether expansionary stocks like Hyundai Motor and Kia will be more than just a one-day rebound.

Third, we need to see if stocks with clear justifications this week, such as Samsung SDS and defense stocks, maintain those justifications next week. This is ultimately what online readers are most curious about: whether the stocks that were strong this week have the grounds to continue their strength next week.

※ This article is a market commentary in an article format, not investment advice. Actual stock prices and fund flows may vary depending on exchange rates, oil prices, geopolitical variables, corporate earnings, and policy changes.