S&P 500 and Nasdaq Hit All-Time Highs as WTI Tops $96, Philadelphia Semiconductor Index Falls
[April 28, 09:00 AM Broadcast Full View] S&P500, Nasdaq All-Time High Amid WTI Breaking $96, Philly Semiconductor Index Decline
Speakers
Park Myung-seok
— Curator
Kwon Soon-woo
— Reporting Team Lead, 3PRO TV
Park Byeong-chang
— Director, MP Partners
Jeong Pro
— Host
Vincent
— Host
Baek In-jae
— Deputy Center Director, Hana Securities
Kang Gwan-woo
— CEO
Oh Tae-woo
— Assistant Manager, NH Investment & Securities Ansan Center
Yeo Doeun
— Host
Kim Jae-hee
— Editor-in-Chief, Crypto Plus
Yoon Su-mok
— CEO, Whisperd Research
Sung Il-kwang
— Professor, Sogang University Euro-MENA Institute
Summary
The broadcast covers US and Korean market strength, with the S&P 500 and Nasdaq at record highs while WTI oil rose above $96. Guests debate semiconductor leadership, AI hardware demand, power equipment, substrates, biotech, and crypto. The crypto segment focuses on Bitcoin's $80,000 resistance, stablecoin regulation, a potential digital-dollar Fed transition, and a bearish view on long-term Treasuries.
- US equities hit records, led by AI and semiconductors despite oil and inflation concerns.
- Korea's market cap topped 6,000 trillion won, with KOSPI strength led by SK hynix and power equipment.
- Analysts favored AI hardware, substrates and CCL, power infrastructure, ship engines, and selected biotech and robotics names.
- Bitcoin remained below $80,000, with regulation and stablecoin developments as key swing factors.
- A guest argued Kevin Warsh may shrink Fed communication as the dollar shifts toward digital infrastructure.
- Long-term Treasuries were viewed as risky, while commodities, gold, silver, and Bitcoin were favored.
- Named stock ideas included Samsung Electronics, Doosan, LS Electric, HD Hyundai Heavy Industries, and Pharmicell.
Ideas
AI hardware demand drives semiconductor leadership.
AI capex is so urgent that money keeps flowing into AI hardware even as oil, inflation, and Middle East risks rise. Nvidia broke $200, Micron is benefiting from HBM and DRAM recovery, and Intel is showing CPU demand and pricing power. The speaker dismisses Michael Burry's semiconductor short because hardware demand and China's AI arms race keep investment flowing.
Alphabet hits new high on AI agents.
Alphabet hit a new high above $350. The company launched an agentic trading system connecting AI models to exchanges, making it a potential first mover in AI agent trading. Even with internal concerns about Gemini, the new-high momentum and AI positioning are positive.
Oil stays elevated on Hormuz supply shock.
Oil is described as a new normal and a structural crisis. WTI rose above $96 and Brent above $100. The Hormuz disruption is cutting supply, diesel prices are spiking, airlines are cutting flights, and gasoline above $4 per gallon is destroying demand. Goldman raised its WTI forecast and Citi warned Brent could stay above $100.
Qualcomm benefits from OpenAI smartphone long-term.
OpenAI is reportedly working with MediaTek, Qualcomm, and Luxshare to build a smartphone and AP chips. Mass production is expected around 2028. The timing is still far away, so Qualcomm did not hold its initial spike, but the project could support long-term on-device AI replacement demand.
AMD lacks proof versus Intel.
AMD has run up too much on CPU optimism and still needs to prove its execution. A report questioned whether AMD can match Intel's CPU results. The speaker says AMD is not proven like Intel, creating short-term valuation and sentiment burden.
POET crashes after Marvell order cancellation.
POET Technologies crashed about 50% after Marvell reportedly canceled an order, and the company disclosed the cancellation late. The speaker says this damaged trust and shows why optical communication-related highfliers can be dangerous when order news reverses.
Microsoft loses OpenAI exclusivity, faces skepticism.
Microsoft's partnership with OpenAI changed so that OpenAI's licensing is no longer exclusive and OpenAI can work with other cloud providers. The speaker says this is not good for Microsoft because it loses exclusivity and now needs its own AI breakthrough. The market remains skeptical about Microsoft's next step.
Optical fiber long-term growth despite volatility.
Telecom earnings are being watched because Big Tech is discussing how to use optical fiber more deeply. The speaker says related stocks can be volatile and POET had a problem, but the long-term direction is valid and quality optical fiber names should eventually do well.
KOSPI not overvalued despite high Buffett indicator.
Korea's market capitalization topped 6,000 trillion won and the Buffett indicator reached 218%, but the speaker argues the market is not overvalued because corporate earnings and EPS growth are rising fast. The KOSPI is being repriced by semiconductor and industrial earnings rather than by pure liquidity.
SK hynix leads memory on HBM strength.
SK hynix rose 5.7% to a new high above 1.3 million won. Memory semiconductors are not disrupted by the Hormuz issue, and SK hynix is the stronger memory name versus Samsung Electronics, which is being held back by labor strike concerns.
Power equipment shortage drives multi-year cycle.
The power equipment sector is in a multi-year supercycle. Global leaders such as Siemens and GE are full, and Korean companies are expanding capacity aggressively. Hyosung Heavy Industries benefits from ultra-high-voltage transformers, LS Electric from distribution boards, and HD Hyundai Electric and midsized suppliers are also participating.
Ship engines enter data center power market.
Ship engines are becoming an on-site power solution for data centers because gas turbines are fully booked and grid connections are slow. HD Hyundai Heavy Industries' HiMSEN engines are being ordered for data centers, and Korea is moving aggressively into this niche while global engine makers also see demand.
Buy power equipment on pullbacks.
Power equipment remains a leading sector in Korea. LS Electric, Hyosung Heavy Industries, HD Hyundai Electric, Iljin Electric, and Jaeryung Electric are moving together. The speaker prefers buying on pullbacks rather than chasing vertical moves because institutional active money is rotating but valuations and technical extensions are stretched.
AI growth stocks lead despite macro risks.
US and Korean indices are being driven by AI growth stocks, not by broad economic strength. AI-related names are less sensitive to oil and inflation, so they can rise even while macro risks build. However, the speaker warns the rally may be hollow and narrow, so overheating risk should be monitored.
Nvidia cheap relative to mega-cap peers.
Nvidia's multiple is only about 24 times earnings, below Alphabet at 28 times, Apple at 31 times, and Costco at 49 times. The speaker argues this is not expensive if AI infrastructure spending continues for years, so Nvidia can still be a core AI holding.
CPU demand shifts favor Intel.
CPU demand is inflecting. Intel raised prices as the data center GPU-to-CPU ratio shifts from 1 to 8 toward 1 to 4 and potentially 1 to 1. Intel is even selling older CPU inventory, and first-quarter average prices rose 27%, with more price increases possible.
LS Electric can reach 400,000 won.
LS Electric is a leading power equipment name and the speaker says it can rise to 400,000 won, above a brokerage target of 350,000 won. Hyosung Heavy Industries, HD Hyundai Electric, Iljin Electric, and Jaeryung Electric are also strong, and pullbacks should be treated as opportunities while demand remains intact.
Secondary batteries turning into sustained uptrend.
Secondary battery stocks are turning up and the speaker expects the flow to rotate toward them. LG Energy Solution, EcoPro, EcoPro BM, LG Chem, and Samsung SDI are mentioned as key names, with the speaker saying short-term weakness should not be treated as a trend break.
Hyundai Motor benefits from robot theme.
Hyundai Motor is holding its 60-day moving average and rebounding. It is also being treated as a robotics proxy because the market links Hyundai Motor Group to robotics and automation, so the stock can benefit when robot themes strengthen.
Korean robotics sector has strong momentum.
The robotics sector has strong momentum. Rainbow Robotics, Robostar, SPG, Clobot, and SL are moving, and even Hyundai Motor and LG Electronics are being pulled into the theme. The speaker says the overall robot flow is not bad and remains investable.
LG Electronics gains from robots and cooling.
LG Electronics is tied to two AI themes: robot actuators and data center cooling systems such as chillers. The stock had been depressed, but the combination of AI and robotics exposure is now driving a strong rebound.
ABL Bio drop is overdone; hold.
ABL Bio fell sharply on clinical data concerns, but the speaker says holders should not sell. The PFS data were statistically significant, while the OS data may have been contaminated by ethical crossover treatment of control patients. The market already assigned most of ABL001's value away, and a BB-platform technology transfer is still expected in the first or second half.
Hotel Shilla turnaround via restructuring and buyback.
Hotel Shilla is in a turnaround setup. It restructured by exiting the unprofitable airport duty-free business, and the speaker expects an earnings turnaround. Lee Boo-jin's share purchase and the completion of inheritance-tax-related selling are additional positive signals.
Chairman purchase signals Hanmi Semiconductor confidence.
Hanmi Semiconductor surged after its chairman bought about 3 billion won of shares. The speaker says large insider purchases by major shareholders are a signal worth watching in the current market.
DL E&C holds undervalued SMR stake.
DL E&C holds an equity stake in X-energy, a U.S. SMR company. The market has not reflected that stake value, and DL E&C has been ignored while U.S. SMR names rallied. The speaker says DL E&C looks interesting while depressed.
Daewoo E&C benefits from nuclear theme.
Daewoo E&C beat earnings expectations and hit a roughly 20-year high. The stock is being driven by the nuclear power theme, and the speaker says holders should not sell. The chart has changed character, but the speaker would not add at current levels.
POSCO leads global lithium supply growth.
POSCO Holdings is leading the secondary battery rally and is expected to become one of the world's top five lithium players based on its Argentina lithium mine. The speaker sees it as the sector leader and notes it rose 12%.
Kolmar Korea has hidden material and China growth.
Kolmar Korea has hidden material businesses: aramid for fiber-optic cable wrapping, MPPO for AI substrates, and Kolmar Sports China. The speaker says the company has been ignored but is now attracting attention, and Japanese earnings may also be strong.
Mirae Asset may rebound on trading volume.
Mirae Asset Securities has consolidated for about ten weeks after its SpaceX and trading-volume rally. If volume returns and the stock rebounds from support, the speaker says it could rise strongly, so it is worth watching for a volume breakout.
Korean biotech era is beginning.
The speaker argues the biotech era is beginning. The ABL Bio issue is company-specific rather than a broad sector break, and investors should watch biotech names on pullbacks. The market has shifted value toward ADC and platform technologies, leaving room for individual rebound stories.
HD Hyundai Energy Solutions breakout on solar.
Solar and energy transition are attracting attention. HD Hyundai Energy Solutions rose 16%, broke out, and is being watched as part of the energy transition theme. The speaker says the sector should be monitored as market interest increases.
Samsung Foundry recovery supports electronics upside.
Samsung Electronics is the key beneficiary as foundry turns profitable. TSMC is full and Samsung is taking overflow orders, while its memory and foundry combination is unique. A strike-related dip should be treated as a buying opportunity, and Samsung should trade between SK hynix's low multiple and TSMC's high multiple.
Korean design houses benefit from foundry growth.
Design houses are a bottleneck and opportunity in the AI semiconductor value chain. As fabless companies multiply and foundries scale, design houses are taking on more of the design and optimization work. Korea-listed design solution partners should be studied, including ADTechnology and other domestic design houses.
ITCEN Global earnings support stablecoin business.
ITCEN Global was mentioned in the context of gold trading and stablecoins. Its revenue roughly doubled and operating profit rose about fourfold, and the speaker says investors should check the earnings because the business is growing strongly.
KOSPI rerating driven by rising ROE.
Korea is in a structural value-rerating phase. ROE has risen from 7-8% to over 20%, with Samsung Electronics and SK hynix driving earnings upgrades. PBR has moved from below 1.0 to around 1.6, but stronger earnings justify the move and the KOSPI is not overvalued.
Samsung Electronics cheap on ROE and PBR.
Samsung Electronics is cheap on PBR because ROE is rising toward 40%. Unlike SK hynix, Samsung has memory, foundry, communications, displays, home appliances, and smartphones, making it more diversified and defensive. Its beta is lower but its valuation is more durable.
SK hynix high beta; valuation cautious.
SK hynix is a high-beta memory play. It can rise faster when semiconductors rally, but it can also fall faster. The speaker says a P/E of 9 to 10 times is reasonable, not the more aggressive 12 times, and investors should be cautious about the memory cycle peaking in terms of earnings growth rate.
KOSDAQ structurally unattractive due weak earnings.
KOSDAQ is structurally unattractive. There are too many companies, many lack real earnings, and stronger names move to the KOSPI. The speaker says the government should speed up delistings and that investors should not be overly persuaded by KOSDAQ valuation rebound stories.
AI chips drive substrate and CCL demand.
AI chips are getting larger, more complex, and thicker, which drives demand for package substrates, MLB, and CCL. Substrate makers are running near full utilization and expanding capacity. Samsung Electro-Mechanics, Daeduck Electronics, Isu Petasys, and U.S.-listed TTM Technologies are key beneficiaries.
Doosan dominates Nvidia CCL supply.
Doosan's electronic BG is the sole CCL supplier for Nvidia's Blackwell and passed quality tests while Taiwan's EMC failed. Doosan is expected to remain the exclusive CCL supplier through Rubin in 2027. Electronic BG revenue is forecast to more than double and operating profit to surge, while Doosan also holds valuable stakes in Doosan Enerbility and Doosan Tesna.
Pharmicell exclusively supplies Doosan CCL materials.
Pharmicell is not just a biotech company; it exclusively supplies low-dielectric resin and curing agents to Doosan's CCL business. About 60-70% of revenue comes from Doosan, operating margin is above 30%, and a third plant should double capacity by next year as Doosan expands.
HD Hyundai Heavy gains from data center engines.
HD Hyundai Heavy Industries is the preferred shipbuilding/data-center engine play. Its HiMSEN engines won a 20MW-class data center order, shipbuilding order targets were 43% achieved by March, and engine orders are likely to repeat because data centers need on-site power. The order backlog supports a valuation rerating.
Samsung Heavy attractive on LNG orders.
Samsung Heavy Industries is attractive because LNG demand should rise as Middle East supply routes diversify and countries seek more LNG carriers. However, the speaker prefers HD Hyundai Heavy Industries for valuation rerating because the data-center engine angle gives it a clearer new growth driver.
HD Hyundai Marine benefits later from engine maintenance.
HD Hyundai Marine Solution is the second-stage beneficiary. Data center engines run about 4,000 hours per year, shortening maintenance cycles and increasing after-sales demand. Engine maintenance margins are higher than shipbuilding margins, but the speaker says to wait until HD Hyundai Heavy Industries' order momentum plays out.
KOSPI can reach 7,000 in May.
The speaker says the KOSPI can reach 7,000 on a closing basis in early May. The market is strong, KOSPI is breaking higher, and the speaker has deployed cash into the market while preferring large-cap KOSPI exposure over KOSDAQ.
Bitcoin must break $80k resistance.
Bitcoin continues to struggle below $80,000, a key psychological resistance. Short-term holders have average costs around $74,000 to $79,000 and are taking profits as prices rise. The medium-term trend since April is still up, but Bitcoin needs to break $80,000 to enter a stronger bull phase.
Coinbase expands stablecoin payment network globally.
Coinbase launched a global stablecoin payment system with Nium, allowing USDC holders to use stablecoin-based cards across 190 countries and millions of merchants. The speaker says this expands the dollar network and is a positive step for stablecoin adoption, though Korea may lag due to credit-card payment habits.
Strategy keeps buying Bitcoin via preferred dividends.
Strategy continues to buy Bitcoin every week, recently adding 3,273 BTC at an average price of $75,537. It changed its preferred stock dividend schedule to biweekly to attract more retail demand and fund further Bitcoin purchases. The speaker sees this as part of Strategy's ongoing Bitcoin accumulation strategy.
Digital dollar transition supports 15x Bitcoin upside.
The U.S. dollar system is shifting from petrodollar to a digital-dollar regime. Kevin Warsh is the right Fed chair for this transition because he understands Wall Street, Washington, and crypto. If stablecoins are included in M2 and Bitcoin or tokenized Treasuries become Fed-eligible collateral, Bitcoin could see a historic repricing similar to gold's 15-24x move after 1971.
Gold and silver rise with dollar weakness.
As the dollar regime changes and inflation pressure builds, commodities should stay strong. The speaker explicitly says gold and silver should rise alongside Bitcoin, and recommends shifting the traditional 40% bond allocation toward commodities.
US dollar faces structural multi-year weakness.
The U.S. dollar faces structural multi-year weakness as the petrodollar system erodes and the digital-dollar transition advances. The speaker expects a broad dollar downtrend over the coming years, supporting Bitcoin, commodities, gold, and silver.
Avoid long-term Treasuries as term premium rises.
Long-term Treasuries are dangerous to hold. The speaker says to sell long-term bonds and replace that allocation with commodities. Less Fed communication under Warsh should raise term premium, and long-term yields are more likely to rise than fall, especially with oil and inflation risks.
Companies may adopt Bitcoin treasury strategies.
Corporate treasury strategy may broaden beyond Strategy. If the macro regime truly changes, shareholders may pressure ordinary companies to hold Bitcoin or commodities rather than idle cash. The speaker says investors should prepare for more companies adopting crypto or hard-asset treasury strategies.
Digital financial infrastructure companies benefit from tokenization.
Digital financial infrastructure companies should benefit as stablecoins, tokenized Treasuries, and digital collateral become more important. The speaker says to watch companies involved in digital financial infrastructure because some will grow very large as the dollar system digitizes.
Up Next
This 3PRO TV (삼프로TV) video, published April 28, 2026, features Park Myung-seok, Kwon Soon-woo, Park Byeong-chang, Jeong Pro, Vincent, Baek In-jae, Kang Gwan-woo, Oh Tae-woo, Yeo Doeun, Kim Jae-hee, Yoon Su-mok discussing MU, NVDA, INTC, GOOGL, WTI, BNO, QCOM, AMD, POET, MSFT, Optical fiber and communication equipment, ^KS11, 000660.KS, 010120.KS, 298040.KS, 267260.KS, Iljin Electric, 033100.KQ, 329180.KS, AI-SECTOR, 373220.KS, 086520.KQ, 247540.KQ, 051910.KS, 006400.KS, 005380.KS, 277810.KQ, 060300.KQ, 058610.KQ, 466100.KQ, SL, 066570.KS, 298380.KQ, 008770.KS, 042700.KS, 375500.KS, 047040.KS, 005490.KS, 161890.KS, 006800.KS, Korean biotech sector, HD Hyundai Energy Solutions, 005930.KS, Korean semiconductor design houses, 124500.KQ, ^KQ11, 036530.KS, 008060.KS, 007660.KS, TTMI, 000150.KS, 005690.KQ, 010140.KS, 443060.KS, BTC, COIN, MSTR, GLD, SILVER, DBC, DXY, TLT, Corporate Bitcoin treasury adopters, Digital financial infrastructure companies. 54 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Park Myung-seok, Kwon Soon-woo, Park Byeong-chang, Jeong Pro, Vincent, Baek In-jae, Kang Gwan-woo, Oh Tae-woo, Yeo Doeun, Kim Jae-hee, Yoon Su-mok · Tickers: MU, NVDA, INTC, GOOGL, WTI, BNO, QCOM, AMD, POET, MSFT, Optical fiber and communication equipment, ^KS11, 000660.KS, 010120.KS, 298040.KS, 267260.KS, Iljin Electric, 033100.KQ, 329180.KS, AI-SECTOR, 373220.KS, 086520.KQ, 247540.KQ, 051910.KS, 006400.KS, 005380.KS, 277810.KQ, 060300.KQ, 058610.KQ, 466100.KQ, SL, 066570.KS, 298380.KQ, 008770.KS, 042700.KS, 375500.KS, 047040.KS, 005490.KS, 161890.KS, 006800.KS, Korean biotech sector, HD Hyundai Energy Solutions, 005930.KS, Korean semiconductor design houses, 124500.KQ, ^KQ11, 036530.KS, 008060.KS, 007660.KS, TTMI, 000150.KS, 005690.KQ, 010140.KS, 443060.KS, BTC, COIN, MSTR, GLD, SILVER, DBC, DXY, TLT, Corporate Bitcoin treasury adopters, Digital financial infrastructure companies