According to a Korea Exchange report on the 27th, power equipment stocks have dropped sharply, with Hyosung Heavy Industries closing at 2,681,000 won on the 24th, down 44.8% from its record high of 4,865,000 won set in May. HD Hyundai Electric ended at 810,000 won, down 44.0% from its peak, and LS Electric closed at 202,000 won, down 39.7%. The securities industry views the pullback as a short-term shock from fund rotation within artificial intelligence (AI) beneficiaries, triggered after the launch of single-stock leveraged ETFs for Samsung Electronics and SK hynix moved AI investment funds to large-cap chip stocks. Concerns also spread over a possible slowdown in big tech's AI capital expenditures. However, analysts see the power equipment cycle as still in a growth phase, noting that demand initially centered on ultra-high-voltage transformers has recently expanded to distribution equipment, broadening the base of the power equipment supercycle.