Daishin: "Increasing Liquidity... Watch AI, Fintech, and Nuclear Power Themes in the Second Half"

On June 16, Daishin Securities stated that, historically, growth stocks have outperformed value stocks during periods of increasing liquidity, and suggested three themes to watch in the second half of the year: artificial intelligence (AI), fintech, and nuclear power.

Park Hyunjung, a researcher at Daishin Securities, made these remarks in the report "2025 Second Half Asset Allocation and Theme Analysis: Three Themes to Ride the Wave of Liquidity," published on this day.

First, Park noted, "As market uncertainty related to tariff policies has passed its peak, Bitcoin prices have started to move again," and diagnosed that "global liquidity (M2) has surpassed its previous high and has turned to an upward trend." Accordingly, she said, "The market atmosphere in the second quarter is the opposite of the first quarter," and predicted, "Growth and momentum styles are leading the market, and the effects of liquidity will be reflected." Although concerns about the global economy persist due to the US-led trade war, she analyzed that, given the fiscal and monetary policies of major countries, it is more important to focus on the effects of liquidity.

Park stated, "Among growth stocks, themes expected to benefit from policy will lead the liquidity-driven market," and selected AI as the most noteworthy theme. She said, "2025 is the year of agent AI," and evaluated, "It is a time to focus on the future that AI will shape, rather than worrying about overinvestment in AI." Previously, concerns about overinvestment in AI centered on big tech companies had spread, but contrary to market expectations, big tech's AI investments have not decreased.

Accordingly, Park suggested that among the 34 AI exchange-traded funds (ETFs) listed on the domestic stock market, investors can approach various sub-themes, and recommended, "As the era of AI agents has arrived, it is necessary to pay attention to the AI software theme." Specifically, she pointed to SOL US AI Software and KODEX US AI Soft TOP10. She also noted that in the upcoming "physical AI era," ETFs related to humanoid robots could benefit, highlighting KODEX US Humanoid Robot and TIGER China Humanoid Robot as examples.

Second, she suggested that the fintech theme should be watched, driven by the strength of Bitcoin and consumption supported by domestic demand stimulus policies in various countries. Park said, "When Bitcoin is strong, the stock prices of related financial companies also rise," and added, "As Bitcoin fever intensifies, cryptocurrency exchanges and cryptocurrency ETF operators will benefit." She also explained, "Countries such as China, South Korea, and Japan are implementing fiscal policies to stimulate their economies," and "Government stimulus measures are expected to improve consumption in each country. Increased consumption creates a positive environment for the performance of e-commerce and electronic payment service companies."

For fintech theme ETFs, she proposed themes that invest simultaneously in companies related to cryptocurrencies and e-commerce. Currently, the only fintech-related ETF listed on the domestic stock market is KODEX US Financial Tech Active, which was listed on May 27.

Lastly, the theme to watch in the second half of this year is nuclear power ETFs. Park emphasized, "US President Donald Trump signed four executive orders to promote nuclear power on May 23. The nuclear power industry has entered a big cycle," and stressed, "Nuclear power is essential to maintain AI technology leadership and national security." She particularly pointed out that the United States is moving to regain leadership in the nuclear power market by recognizing it as a security threat, and that South Korea could benefit within this context.

She further suggested that those who want to invest in the domestic nuclear power market can consider HANARO Nuclear iSelect and ACE Nuclear Theme Deep Search; those interested in the US nuclear power theme can look at SOL US Nuclear SMR; those wanting to invest in the global nuclear power market, including South Korea, can consider RISE Global Nuclear; and those wanting to invest in the global nuclear value chain excluding South Korea can consider PLUS Global Nuclear Value Chain.