Daily Morning Fund Managers' Investment Meeting Live | Park Se-ik Senior Managing Director & Chesley Investment Advisory [Morning Brief / Tue, 2026.07.28]

Summary

In this morning investment meeting, the team discusses global market moves, semiconductor sell-off drivers, and specific stock ideas. Hikvision is pitched as a recovery play in China, LG Innotek and SNS Tek are noted for value and China-DUV exposure, and a rotation from semiconductors into software, Apple, and Korean cosmetics is highlighted. Nvidia is reaffirmed as a long-term core AI holding, and the KOSPI is expected to bounce in August after a sharp July decline.

• Hikvision recommended on margin recovery, AI expansion, and compressed 19x P/E after prior sanctions and fiscal woes.
• Apple reclaims largest market cap as a defensive AI play, attracting rotation away from chip names.
• Bloom Energy's sharp decline creates opportunity given its $20B backlog and 15-year service contracts.
• Palantir benefits from semiconductor-to-software rotation, supported by strong Rule of 40 fundamentals.
• Korean cosmetics stocks (LG H&H, Amorepacific, Cosmax, etc.) rally as semiconductor momentum stalls and export data remains strong.
• LG Innotek’s 60% correction and 15x P/E offer value amid expanding package solution margins and seasonal upturn.
• SNS Tek, with 40% China blank mask share, a direct beneficiary of DUV multi-patterning as EUV is restricted.
• Nvidia seen as too big to fail, core to the AI cycle; long-term dips are buying opportunities.
• KOSPI poised for August rebound after July plunge and substantial reduction in margin debt.