Daily Morning Fund Managers' Investment Meeting Live | Senior Managing Director Park Se-ik & Chesley Investment Advisory [Morning Brief / Monday, August 3, 2026]

Daily Morning Fund Managers' Investment Meeting Live | Park Se-ik Senior Managing Director & Chesley Investment Advisory [Morning Brief / 26.08.03.Mon]
Watch on YouTube ↗  |  August 02, 2026 at 21:51  |  1:56:26  |  Chesley Investment Advisory (체슬리투자자문)
Speakers
Wang Jeong — Department Head
Choi Ho — Vice President
Woo — Section Chief
Park Se-ik — CEO, ex-Chief Strategist
Jun-hyeok — Analyst

Summary

The August 3 briefing covers Chinese, US, and Korean markets. Wang Jeong pitches Yum China as a high-yield, undervalued steady growth play. Choi Ho flags CXMT's LPDDR6 progress as a competitive threat to Samsung and SK hynix and gives a bullish overnight call on US indices. Woo presents a DS supercycle report arguing Korean memory stocks can reach new highs by 2027. Park Se-ik draws 1987 parallels, warning on leverage but staying constructive on the market recovery, while emphasizing monitoring semiconductor data.

  • Yum China highlighted for 9.4% total yield, low P/B, 14 straight quarters of same-store sales growth, and full cash flow return to shareholders
  • CXMT's LPDDR6 development and Kioxia miss raise competitive pressure on Samsung Electronics and SK hynix, warranting close watch
  • DS Investment report sees memory upcycle extending to 2027Q4 with stock price highs not yet reached, favoring SK hynix and Samsung Electronics
  • Choi Ho expects a broad US market rally tonight (Nasdaq, S&P 500, SOX) as de‑leveraging fades and geopolitical tensions ease
  • Park Se-ik views the recent selloff as an event‑driven bear akin to 1987, not structural, and stresses fund management and avoiding excessive leverage
  • Korean export data shows July semi exports strong at $41 bn, maintaining 179% YoY growth despite worries, supporting the upcycle narrative
  • Bitcoin faces headwinds from a major cold wallet hack and delayed crypto legislation, though Trump's de‑escalation helped stabilize prices
Ideas
Wang Jeong Department Head 4:43
High-yield, undervalued, steady growth China play
Yum China offers a 9.4% total shareholder return yield (dividend + buyback) that far exceeds China's 1.7% 10-year bond yield, is trading near historically low P/B, and has delivered 14 consecutive quarters of same-store sales growth. The company is expanding into lower-tier cities and diversifying brands (KFC coffee, Pizza Hut Burger, etc.), while its committed policy of returning 100% of cash flow to shareholders makes it a stable, high-yield play with limited downside and potential for 20%+ annual returns over the long term.
YUMC HIGH
Choi Ho Vice President 19:14
CXMT competition threatens Korean memory stocks
Based on DS Investment & Securities analyst Lee Sul-im's research, the current semiconductor supercycle resembles 2017-18, with consensus expecting profit peak not until 2027Q4. Historically, SK hynix stock price led profit peak by about 4 months and achieved multiple new highs during the upcycle, and Samsung Electronics also rallied strongly. Even with recent sharp corrections, the analysis suggests the memory upcycle still has room, and SK hynix and Samsung Electronics can challenge new highs by 1H 2027, implying significant upside from current levels.
000660.KS 005930.KS MED
Choi Ho Vice President 101:49
Deleveraging eases, geopolitical risk fades, markets rally
The US market's deleveraging and rebalancing pressures that weighed on semiconductors appear to be easing, while Trump's diplomatic off-ramp on Iran tensions reduces geopolitical risk. With AI capex translation into revenue driving big tech momentum and the macro picture calming, tonight's session should see broad strength across major US indices and semiconductors.
^NDX SPY SOXX MED
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This Chesley Investment Advisory (체슬리투자자문) video, published August 02, 2026, features Wang Jeong, Choi Ho discussing YUMC, 000660.KS, 005930.KS, ^NDX, SPY, SOXX. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Wang Jeong, Choi Ho  · Tickers: YUMC, 000660.KS, 005930.KS, ^NDX, SPY, SOXX