Name: Tech Stocks Extend Drop After SK Hynix Earnings Miss | The China Show | 7/29/2026
Uploaded: 2026-07-29T06:01:12+00:00
Duration: 5591 s

Speakers

SK Kim — Executive Director and Analyst, Daiwa Securities

Trang Le — Portfolio Manager, LGT

Joshua Crabb — Head of Asia Strategies, Robeco

Summary

The episode focuses on SK Hynix's earnings miss and the ongoing tech selloff, with guests defending structural AI demand and highlighting specific long opportunities in SK Hynix, gold, India, and Hong Kong financials. Uncertainty around the Fed's rate decision, rising oil prices, and China's trade pushback add macro complexity.

SK Hynix reports a 557% profit jump but misses lofty estimates, leading to a 10% intraday stock drop.
Daiwa's SK Kim remains bullish on SK Hynix, citing delayed but imminent buyback, bullish H2 guidance, and overblown Chinese competition fears.
Robeco's Joshua Crabb sees value in SK Hynix at 5x earnings, expects financials to benefit from higher rates, and identifies India as an anti-AI rotation play.
LGT's Trang Le targets $5,000 gold, driven by central bank buying and broken correlations with real yields.
Markets price a 30-34% chance of a Fed rate hike amid oil price spikes from US-Iran tensions.
China issues a position paper defending its export boom against US and EU overcapacity claims, while the Hang Seng Tech and Financials indices outperform.
The Politburo meeting is not expected to introduce new stimulus, focusing instead on accelerating fiscal delivery.

Ideas

Joshua Crabb Head of Asia Strategies, Robeco 13:01

India benefits as anti-AI trade rotation.

India serves as an anti-AI trade, benefiting from rotation out of over-owned AI and tech stocks. The market has pulled back to more interesting levels after underperforming and is doing a little better as investors seek diversification away from AI-heavy markets.

Joshua Crabb Head of Asia Strategies, Robeco 13:19

Hong Kong financials benefit from higher rates.

The shift from rate cuts to potential Fed hikes is beneficial for the banking industry in general. With the economy expected to remain okay and inflation manageable, financials are in a reasonable position. The Hang Seng Financials Index has hit a new record as a result.

SK Kim Executive Director and Analyst, Daiwa Securities 52:49

Buy SK Hynix on AI demand recovery.

SK Hynix's earnings miss was largely priced in and due to higher exposure demand; the delay in share buyback is temporary and a catalyst for Q3, with guidance remaining bullish. Structural AI-driven data center demand will sustain memory demand for years, Chinese competition from CXMT is two generations behind and not a near-term threat. The stock is a strong buy on cheap valuations and upcoming shareholder returns.

Trang Le Portfolio Manager, LGT 78:49

Gold targets 5000 on central bank buying.

Gold has broken its traditional correlations with real yields and equities, strengthening its case for portfolio diversification. Central bank buying continues to provide a floor, with the PBOC needing to buy more physical gold just to maintain its target share at lower prices. The medium-term target remains 5000, supported by strong central bank flow.

This Bloomberg Markets video, published July 29, 2026, features Joshua Crabb, SK Kim, Trang Le discussing INDA, Hang Seng Financials Index, 000660.KS, GLD. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Joshua Crabb, SK Kim, Trang Le · Tickers: INDA, Hang Seng Financials Index, 000660.KS, GLD

Tech Stocks Extend Drop After SK Hynix Earnings Miss | The China Show | 7/29/2026

Summary

Ideas

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