US To Control Venezuelan Oil 'Indefinitely'; Iran Protests | Horizons Middle East & Africa 1/8/2026

Watch on YouTube ↗  |  January 08, 2026 at 08:10  |  45:54  |  Bloomberg Markets
Speakers
Jun Bei Liu — Ten Cap Founder
Winnie Hsu — Bloomberg Reporter (Asia Markets)
Jill Disis — Managing Editor, Bloomberg Hong Kong
Mayumi Negishi — Reporter, The Wall Street Journal
Joumanna Bercetche — Anchor, Bloomberg
Aniseh Bassiri Tabrizi — Senior Analyst, Control Risks

Summary

Horizons Middle East & Africa covers U.S. plans to control Venezuelan oil sales indefinitely, Iran unrest, Saudi market opening, and Samsung's record AI-driven memory earnings. Ten Cap's Jun Bei Liu says global equities can still deliver high single-digit to double-digit returns in 2026, with U.S. leadership, broadening AI beneficiaries, banks, cyclicals, and memory chips. The show also highlights China-Japan chip material tensions, Chevron's potential Venezuela expansion, and geopolitical escalation risks in Iran.

  • U.S. plans to control future Venezuelan oil sales and direct revenue to U.S.-made goods.
  • Iran protests continue; Control Risks sees elevated Israel-Iran escalation risk in 2026.
  • Saudi Arabia opens its stock market to all foreign investors; Tadawul rises but impact remains debated.
  • Samsung posts record profit on AI-driven memory demand; HBM race with SK Hynix and Micron remains key.
  • Ten Cap's Jun Bei Liu favors U.S. equities, memory chips, banks, and cyclicals, while Europe may struggle.
  • China's anti-dumping probe into Japanese chipmaking materials supports Chinese suppliers and pressures Japanese ones.
  • Chevron is watching potential Venezuela expansion amid U.S. pressure on oil majors.
  • Other headlines include Russia recruitment via gaming apps, Greenland interest, Warner/Paramount/Netflix, Anthropic funding, and JPMorgan-Apple Card.
Ideas
Winnie Hsu Bloomberg Reporter (Asia Markets) 5:16
China probe boosts Chinese chip materials.
China's anti-dumping probe into Japanese chipmaking materials is pressuring Japanese suppliers, while Chinese chipmaking material names are expected to gain market share from the disruption.
Chinese chipmaking materials MED
Winnie Hsu Bloomberg Reporter (Asia Markets) 5:16
China probe boosts Chinese chip materials.
China's anti-dumping probe into Japanese chipmaking materials is pressuring Japanese suppliers, while Chinese chipmaking material names are expected to gain market share from the disruption.
Japanese chipmaking materials MED
Jun Bei Liu Ten Cap Founder 6:23
Global equities still offer double-digit returns.
She expects global equities to deliver an average high single-digit to double-digit return in 2026, even though leadership may rotate, because the market is transitioning from a liquidity-fueled rally to an earnings/fundamentals-led cycle.
VT MED
Jun Bei Liu Ten Cap Founder 6:41
European equities likely to struggle.
European and other non-U.S. markets are likely to struggle relative to the U.S. in 2026, as the U.S. regains equity leadership and other regions face weaker return prospects.
VGK MED
Jun Bei Liu Ten Cap Founder 6:44
U.S. equities regain leadership in 2026.
The U.S. market should regain leadership in 2026 as the economy absorbs tariff uncertainty, tech investment broadens into other sectors, and earnings plus policy changes drive the share market.
SPY HIGH
Jun Bei Liu Ten Cap Founder 8:57
Memory chips have further upside.
Memory chips should have legs into 2026 because AI-related valuations are stretched elsewhere, a memory shortage is developing, and investors are seeking the next leg of AI beneficiaries; she sees the chip area as one component of a broadening opportunity.
DRAM HIGH
Jun Bei Liu Ten Cap Founder 9:26
AI beneficiaries broaden to financials, healthcare.
The next AI beneficiaries are broadening beyond technology into other parts of the equity market, with financials, banks, healthcare, and other sectors likely to benefit for years as investors focus on who benefits or misses out in the AI game.
XLF XLV MED
Jun Bei Liu Ten Cap Founder 10:20
U.S. banks benefit from capital relaxation.
U.S. banks and financials should do very well because capital relaxation gives them strong operating leverage, they can deploy capital into the equity market, and market activity should be strong.
KBE HIGH
Jun Bei Liu Ten Cap Founder 10:42
Rate cuts support cyclical sectors.
Cyclical sectors should benefit from further rate cuts, which support the economy even as tariffs are absorbed, and earnings plus policy changes should drive a large part of the share market.
XLY MED
Jun Bei Liu Ten Cap Founder 11:00
Tech giants remain reasonably supported.
Tech giants continue to invest and should remain reasonably supported, although their high expectations make further upside harder to achieve.
XLK LOW
Jill Disis Managing Editor, Bloomberg Hong Kong 14:56
Chevron may expand Venezuela operations.
The Trump administration is pushing U.S. oil companies to expand or return to Venezuela; Chevron, the only U.S. supermajor currently operating there, is potentially looking to expand, but legal, logistical, and infrastructure hurdles make this a developing watch item rather than a clean long.
CVX MED
Mayumi Negishi Reporter, The Wall Street Journal 42:08
Samsung HBM race favors SK Hynix, Micron.
Samsung's record quarter reflects AI-driven memory demand and conventional memory shortages, but Samsung has fallen behind SK Hynix and Micron in high-bandwidth memory and faces a make-or-break year to qualify HBM4 with Nvidia and close the gap; this keeps HBM leaders advantaged while Samsung is a watch item.
005930.KS MED
Mayumi Negishi Reporter, The Wall Street Journal 42:08
Samsung HBM race favors SK Hynix, Micron.
Samsung's record quarter reflects AI-driven memory demand and conventional memory shortages, but Samsung has fallen behind SK Hynix and Micron in high-bandwidth memory and faces a make-or-break year to qualify HBM4 with Nvidia and close the gap; this keeps HBM leaders advantaged while Samsung is a watch item.
000660.KS MU MED
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This Bloomberg Markets video, published January 08, 2026, features Winnie Hsu, Jun Bei Liu, Jill Disis, Mayumi Negishi discussing Chinese chipmaking materials, Japanese chipmaking materials, VT, VGK, SPY, DRAM, XLF, XLV, KBE, XLY, XLK, CVX, 005930.KS, 000660.KS, MU. 13 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Winnie Hsu, Jun Bei Liu, Jill Disis, Mayumi Negishi  · Tickers: Chinese chipmaking materials, Japanese chipmaking materials, VT, VGK, SPY, DRAM, XLF, XLV, KBE, XLY, XLK, CVX, 005930.KS, 000660.KS, MU