Morning Brief Global Stock Valuation Check [July 6, 2026]

[Morning Brief] Global Stock Valuation Check [26/07/06]

Watch on YouTube ↗ | July 06, 2026 at 00:19 | 1:40:46 | Chesley Investment Advisory (체슬리투자자문)

Speakers

Wang Jung-bu-jang — Department Head, China Markets

Choi Ho — Vice President

Park Se-ik — CEO, ex-Chief Strategist

Summary

The hosts review global stock valuations: Chinese tech giants Tencent and Xiaomi are deemed too cheap, while a Chinese MLCC materials play offers a proxy for the MLCC cycle. Crypto lacks accumulation signals and is a watch. In the US, Meta stands out as deeply undervalued on capex fears. The Korean market is historically cheap, with Samsung Electronics and SK Hynix at extreme valuations, securities stocks poised for a breakout, and memory substrate makers Daeduck and Simtech presenting dip-buying opportunities.

China tech (Tencent, Xiaomi) is extremely cheap on a forward P/E basis and poised for a rebound.
A global MLCC ceramic materials leader (Guozai Material) benefits from the same up-cycle as Murata and Samsung Electro-Mechanics.
Bitcoin has bounced above its 200-day MA but lacks on-chain accumulation, keeping it as a WATCH.
Meta is trading at 15x forward P/E, unfairly punished for capex fears; a long opportunity in big tech.
Samsung Electronics and SK Hynix forward P/Es have fallen to 5.7x and 6.2x despite strong earnings upgrades, signaling deep value.
KOSPI trades at a post-GFC low of 7.25x forward P/E, making the broad Korean market very attractive.
Korean securities stocks Korea Investment Holdings and Samsung Securities are top picks, driven by ETF boom and market-share gains.
Memory substrate makers Daeduck Electronics and Simtech are buys after an overdone sell-off, each with distinct catalysts.

Ideas

Wang Jung-bu-jang Department Head, China Markets 2:46

China tech too cheap, bounce likely

Chinese platform giant Tencent is trading at a forward P/E of just 11x, with excessive negative sentiment around capex spending, and Xiaomi has fallen to 14x forward P/E, near its historical trough of 10x. Both have been severely sold off but are fundamentally cheap and present a strong bounce-back opportunity.

Wang Jung-bu-jang Department Head, China Markets 4:23

MLCC ceramic play with strong pricing

Guozai Material is a global No.1 ceramic materials supplier for MLCCs, with market share around 20-30%. It is raising prices, has strong order backlog, and is benefiting from the same MLCC up-cycle driving customers like Murata and Samsung Electro-Mechanics. It offers a direct play for investors who cannot buy the major MLCC makers directly.

Choi Ho Vice President 10:14

Bitcoin bounce lacks accumulation, watch

Bitcoin has bounced above its 200-day moving average and Fear & Greed is extreme fear, but on-chain data shows no evidence of large-scale accumulation or panic-buying. The current move appears to be short-covering rather than sustained demand. Until accumulation signals emerge, the best stance is to watch, not chase, while the 'promise of October' remains a potential seasonal catalyst.

Choi Ho Vice President 25:36

Korean chip giants at extreme valuation

Samsung Electronics and SK Hynix have seen continuous upward earnings revisions, yet their stock prices have fallen, pushing forward P/Es to extremely low levels (5.7x for Samsung and 6.2x for SK Hynix). Despite foreign selling, institutional buying suggests the sell-off is overdone, offering a deep-value entry into Korean semiconductor leaders.

Choi Ho Vice President 30:31

Meta deeply undervalued on capex fears

Meta is trading at 15x forward P/E, deeply discounted relative to its growth and margins, solely due to market fears around aggressive capex and declining free cash flow. The underlying business strength and advertising momentum remain solid, making this an unjustified de-rating and a long opportunity among big tech.

Park Se-ik CEO, ex-Chief Strategist 37:06

KOSPI historically cheap, buy broad market

The KOSPI index is trading at a forward P/E of only 7.25x, the lowest since the global financial crisis. With EPS continuing to be revised upward and the market deeply undervalued, the broad Korean equity market presents a compelling long opportunity.

Choi Ho Vice President 60:09

Buy Korea Investment and Samsung Securities

Korean securities stocks have been neglected despite daily trading volume reaching 100 trillion won. A report highlights Korea Investment Holdings and Samsung Securities as top picks, driven by explosive ETF market share gains (especially Korea Investment's DMA-driven leap) and upcoming policy catalysts, while valuations remain undemanding.

Choi Ho Vice President 70:22

Simtech socket pivot drives re-rating

Simtech is a memory package substrate company that has diversified into the high-growth Nvidia socket market. The socket theme provides a differentiated catalyst, while the broader memory substrate cycle also supports a recovery. The recent pullback offers an attractive entry for a multi-year re-rating play.

Choi Ho Vice President 70:22

Daeduck Electronics dip-buy on substrate cycle

Daeduck Electronics is the leading memory package substrate maker benefiting from the flip-chip BGA substrate boom. Despite a sharp sell-off on unfounded price-cut fears, supply is tightening and the company's operating margin is recovering rapidly, with potential to exceed previous cycle peaks. The dip is a strong buying opportunity.

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This Chesley Investment Advisory (체슬리투자자문) video, published July 06, 2026, features Wang Jung-bu-jang, Choi Ho, Park Se-ik discussing 0700.HK, 1810.HK, Guozai Material, BTC, 005930.KS, 000660.KS, META, EWY, 071050.KS, 016360.KS, 심택, 대덕전자. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Wang Jung-bu-jang, Choi Ho, Park Se-ik · Tickers: 0700.HK, 1810.HK, Guozai Material, BTC, 005930.KS, 000660.KS, META, EWY, 071050.KS, 016360.KS, 심택, 대덕전자