Ideas
Korean equities resilient; won under pressure.
South Korean equities are shrugging off President Trump's threat of 25% tariffs because investors view it as a negotiation tactic and a dip-buying opportunity, while the tech sector avoids the proposed tariffs, helping the KOSPI reverse an initial drop and rise about 2%; the Korean won is under pressure, with investors expecting more currency pressure than equity pressure.
Korean equities resilient; won under pressure.
South Korean equities are shrugging off President Trump's threat of 25% tariffs because investors view it as a negotiation tactic and a dip-buying opportunity, while the tech sector avoids the proposed tariffs, helping the KOSPI reverse an initial drop and rise about 2%; the Korean won is under pressure, with investors expecting more currency pressure than equity pressure.
SK hynix sole HBM3E supplier to Microsoft.
Local reports say SK hynix is the sole supplier of HBM3E chips to Microsoft, driving its shares up about 7% and leading South Korean chipmakers higher, with the stock heading for its highest close.
Russell 2000 signals broadening U.S. rally.
The Russell 2000's recent outperformance signals a broadening of the U.S. equity rally beyond mega-cap tech, which is a positive development for U.S. stocks; he remains cautious and is observing whether it continues.
JGB holders sell on BOJ intervention fears.
Japanese government bonds are at risk because the yen is now pricing domestic Japanese dynamics, the Bank of Japan is reluctant to intervene given large foreign asset holdings and the carry trade, and JGB holders are fearful the BOJ will not intervene, prompting selling that could be dangerous for Japan-U.S. capital flows.
Precious metals safe-haven demand keeps rising.
Precious metals, especially gold, should continue rising because of generational global shifts including possible weaponization of European-held Treasuries, central bank gold holdings overtaking sovereign bonds, very low institutional gold allocations, and a broader shift away from the U.S. dollar and Treasuries as the dominant safe haven.
Gold miners offer compelling free cash flow.
Gold mining equities are compelling at current metal prices because producers have prioritized shareholder returns, generating strong free cash flow for dividends and buybacks, and generalist investors are only starting to focus on that; the sector is compelling on free cash flow versus other sectors.
Copper pressured if Chinese demand stays weak.
Copper has a mixed picture: supply outages such as Grasberg and electrification demand are supportive, but Chinese consumption, the biggest historical demand driver, is weak, so copper could be under pressure if Chinese demand does not rebound quickly.
Aluminum supply tight, demand healthy.
Aluminum is attractive because there is little new supply coming on in 2026 while demand is expected to grow at a healthy clip, leaving a constructive supply-demand backdrop.
Gold rally strengthens Ghana's macro outlook.
Ghana is a clear beneficiary of the gold rally: gold exports rose 76% to $15.3 billion, the current-account surplus more than doubled to $3.8 billion, reserves cover 5.7 months of imports, the cedi appreciated 4% against the dollar, inflation slowed from over 23%, and the central bank cut rates to 18% with further easing expected to support private-sector activity and economic expansion.
Precious metals support South Africa's currency.
South Africa is benefiting from the gold and precious-metal rally and a weaker dollar, with its currency at the strongest level against the dollar in more than two to three years, helping paint a more attractive picture for the country; regional reserve accumulation has also doubled to $33 billion on gold-related receipts.
Constructive M&A backdrop lifts Goldman Sachs.
The regulatory environment is constructive and CEO confidence is high, with Goldman Sachs' backlog significantly elevated and M&A activity potentially heading for one of its best years ever, while IPO activity in Hong Kong, the U.S., and Europe also looks constructive; this is positive for Goldman Sachs' business.
This Bloomberg Markets video, published January 27, 2026,
features Winnie, Ryan Lemand, Dawid Heyl, Moses Mozart, David Solomon
discussing EWY, USD/KRW, 000660.KS, IWM, Japanese government bonds, GLD, SILVER, GDX, COPPER, Aluminum, GHANA, EZA, GS.
12 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Winnie,
Ryan Lemand,
Dawid Heyl,
Moses Mozart,
David Solomon
· Tickers:
EWY,
USD/KRW,
000660.KS,
IWM,
Japanese government bonds,
GLD,
SILVER,
GDX,
COPPER,
Aluminum,
GHANA,
EZA,
GS
