Can visible wavelength spectroscopy study an exoplanet's chemical composition directly?
This can be done by high-contrast imaging.

Currently it is only feasible for a very limited class of systems (e.g. HR 8799) since it is difficult to achieve the required angular resolution (0.1 arcsecs for exoplanets at a distance 10 parsec) with today's adaptive optics.

Future large telescopes such as the European Extremely Large Telescope are designed for direct imaging as well as visible and near-infrared spectroscopy of exoplanets.