[July 26, 2021 Morning Broadcast Full View] New York Stock Market Slightly Down Amid Rising Middle East Tensions Despite "Semiconductor Stock Rebound

Summary

The broadcast provides a comprehensive market update amid Middle East tensions. Multiple analysts express bullish views on memory semiconductors (Samsung Electronics, SK hynix), arguing the sell-off is overdone and that big tech capex will support a rebound. Korean refiners (SK Innovation, S-Oil) are recommended due to record refining margins and a structural crude pricing shift. Samsung Biologics is seen positively after a GLP-1 CDMO acquisition. Naver is flagged as a potential turnaround play on AI data center news. A crypto segment discusses DTCC tokenization progress and its long-term implications, but near-term trade ideas are limited.

• Memory chips (Samsung, SK hynix) are viewed as oversold with strong demand, supported by upcoming big tech capex guidance.
• Korean refiners SK Innovation and S-Oil benefit from record Asian refining margins and a favorable crude pricing structure.
• Samsung Biologics expands into GLP-1 drug manufacturing through a CDMO acquisition, opening a new growth avenue.
• Naver could rally from strong support levels if an AI data center partnership with Nvidia and Brookfield materializes.
• Middle East tensions cause oil price fluctuations, but the direct impact on equities is seen as manageable.
• ETF leverage unwind and passive fund rebalancing are blamed for exaggerated semiconductor selling, not fundamental weakness.
• DTCC tokenization pilot demonstrates blockchain's potential in US settlement systems, though immediate crypto trade implications remain unclear.