Name: SK Hynix’s US Trading Debut, EasyJet Gets £5.7 Billion Apollo Bid | The Opening Trade 7/10/2026
Uploaded: 2026-07-10T10:31:29+00:00
Duration: 4329 s

Speakers

Guy Johnson — Anchor, Bloomberg

Neil Campling — Tech/TMT Analyst

Sophie Huynh — Reporter, The Block

Zoe Gillespie — Senior Director, RPI

Summary

Japan's finance minister urged pension funds to invest more domestically, sparking a rally in yen and JGBs. SK Hynix's record US ADR debut highlighted strong demand for AI-related chip stocks. In Europe, a surprise Apollo bid for EasyJet ignited takeover speculation, while portfolio managers discussed rotating into European, Chinese, and Korean equities as hideouts from tech volatility.

Japan's government calls on pension funds to repatriate assets, boosting yen and JGBs.
SK Hynix raises $26.5 billion in largest ever US foreign company ADR, oversubscribed.
EasyJet receives superior 715p bid from Apollo, topping Castlelake's offer.
BNP Paribas strategist sees China equities as top safe haven amid AI buildout.
European stocks viewed as diversifier and short-momentum hideout during tech rotation.
Korea's KOSPI still attractive on dips despite high volatility and leveraged ETFs.
Pimco notes credit market flush with cash, but refinancing risk looms for stretched borrowers.
Volkswagen plans to cut model lineup by 50% amid restructuring and weak China demand.

Ideas

Guy Johnson Anchor, Bloomberg 1:35

Japanese pension repatriation lifts domestic assets.

Japan's finance minister called for pension funds to reallocate domestically. The GPIF alone runs $1.8 trillion and a shift back to Japan would be a seismic change in global capital flows, akin to QT. Japanese assets should benefit as the repatriation of capital supports the yen, JGBs, and Japanese equities.

Zoe Gillespie Senior Director, RPI 19:25

UK gilts attractive amid low hikes.

We are underweight bonds overall but like UK gilts. With less pressure for rate hikes after the change of prime minister and a more left-leaning government not signaling major policy shifts, gilts offer relative value and upside potential.

Neil Campling Tech/TMT Analyst 36:58

Strong demand and AI capex boost SK Hynix.

SK Hynix's ADR offering was massively oversubscribed, reflecting tremendous appetite for the deal. Index inclusion potential, passive fund involvement, and structural AI capex spending support demand. The stock is likely to attract leveraged ETFs and sustained interest, making it attractive.

Sophie Huynh Reporter, The Block 52:08

Europe offers safety from tech volatility.

Europe serves as a safe haven and diversifier from crowded tech trades. Laggard sectors like autos and discretionary have low earnings expectations, so if earnings season is not bad, these short-momentum, low-duration exposures should rally, making Europe attractive as a hideout.

Sophie Huynh Reporter, The Block 52:21

China equities are the top hideout.

China equities have rebounded and are the best place to hide during tech volatility. The government is stepping up AI data center investment with an independent supply chain, and internet names are monetizing AI. We are long China A-shares as they benefit from demand recovery, fiscal support, and property green shoots.

Sophie Huynh Reporter, The Block 56:22

Buy Korean equities on dips.

Korean equities still make sense but are highly volatile. We are buying dips because we believe in the AI story but need vol to come down. The rotation and earnings season will confirm the trade, and the KOSPI's leverage ETF exuberance creates entry points on weakness.

This Bloomberg Markets video, published July 10, 2026, features Guy Johnson, Zoe Gillespie, Neil Campling, Sophie Huynh discussing N225, JPY, JGBUX, UKGILT, 000660.KS, STOXX Europe 600, CSI 300 Index, EWY. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Guy Johnson, Zoe Gillespie, Neil Campling, Sophie Huynh · Tickers: N225, JPY, JGBUX, UKGILT, 000660.KS, STOXX Europe 600, CSI 300 Index, EWY

SK Hynix’s US Trading Debut, EasyJet Gets £5.7 Billion Apollo Bid | The Opening Trade 7/10/2026

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