Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Same Memory Chip Stock, but Wrong Postcode: Korea's ADR Mania in SK Hynix & Samsung Electronics

Samsung & SK Hynix: The Richest Cheap Stocks in Global Tech, With More Cash Than the Mag 7 Combined

Samsung Electronics (005930 KS) | Q2 2026 Results = Above, Outlook Positive, Record Cash at Hand

Thematic (Sector/Industry)

Macau Software and services / Thematic (Sector/Industry)

<ul>
<li>
Two stocks explain the selling. Samsung and SK Hynix were 77% of September's foreign net selling and c.93% of January–July's. Outside them, foreigners are not leaving Korea.</li>
<li>
Timing and buyers matter. ₩102tn of the ₩135tn sold since May went in May–June; corporates bought ₩31.4tn in September. Buybacks are c.63% done and may finish by mid-October.</li>
<li>
The open question is FY27, not exports. Consensus profit sits c.24% above the Q3 run-rate. Samsung's expected 7–8 October prelims and post-buyback flows are the next tests.</li>
</ul>



Two stocks explain the selling. Samsung and SK Hynix were 77% of September's foreign net selling and c.93% of January–July's. Outside them, foreigners are not leaving Korea.

Timing and buyers matter. ₩102tn of the ₩135tn sold since May went in May–June; corporates bought ₩31.4tn in September. Buybacks are c.63% done and may finish by mid-October.

The open question is FY27, not exports. Consensus profit sits c.24% above the Q3 run-rate. Samsung's expected 7–8 October prelims and post-buyback flows are the next tests.


South Korea's Microchip Exports Are Booming. So Why Are Foreigners Still Selling Its Stock Market?