Chesley Morning Brief: NVIDIA Down 2%, Semiconductor Plunge… Dow Breaks 52,000 for First Time Ever [26/06/17]

[Chesley Morning Brief] NVIDIA 2%↓, Semiconductor Stocks Plummet…Dow Breaks 52,000 for the First Time Ever [26/06/17]
Watch on YouTube ↗  |  June 17, 2026 at 00:15  |  1:37:15  |  Chesley Investment Advisory (체슬리투자자문)
Speakers
Wang Jeong — Department Head
Jun Yeok Joo-im — Analyst
Park Se-ik — CEO, ex-Chief Strategist
Yoo Ri Pro — Analyst
Choi Ho — Vice President

Summary

The briefing covers global markets with China's CCR/PCB price hikes and an ESS battery stock highlight, a U.S. market correction driven by semiconductor profit-taking ahead of the FOMC, a crypto outlook favoring Bitcoin and Ethereum due to seasonal and structural catalysts, and a Korean defense stock with a European partnership but needing valuation discipline.

  • China’s CCR price increase beats expectations, benefiting PCB/CCL stocks like Kingboard and Dongsheng.
  • Auros Technology (322310.KQ) is presented as a deeply undervalued global No.2 ESS battery pure-play with 54% upside.
  • U.S. markets saw profit-taking in semiconductors, with rotation into financials and industrials ahead of the FOMC.
  • Bitcoin is set up for a July rebound given historical seasonality (70% up months) and expectations of a non-hawkish new Fed Chair.
  • Ethereum faces an acute supply shock from staking and must appreciate to secure the multi-trillion-dollar stablecoin/RWA market built on it.
  • LIG Nex1’s partnership with Rheinmetall opens a huge European defense market, but the stock is now too expensive; better to wait for valuation pullbacks.
  • The semiconductor export cycle is structurally a long B2B infrastructure cycle, potentially lasting through 2027, but stock prices track export growth momentum, not just earnings levels.
Ideas
Wang Jeong Department Head 1:43
CCR price hikes beat expectations, bullish.
CCL/PCB material price increases exceeding market expectations will drive further upside in related Chinese stocks. Kingboard and Dongsheng both announced price hikes or supply adjustments, and CCR prices have already been raised 15%, above market forecasts. This indicates continued pricing power and strong quarterly earnings, making the sector attractive.
킹보드 (Kingboard Laminates Holdings) 동생 (Dongguan Shengyi Electronics) MED
Wang Jeong Department Head 4:21
Undervalued ESS pure-play with huge upside.
Auros Technology is a global No.2 ESS battery pure play with strong second-quarter earnings growth (234-282% YoY), expanding GP margin and ASP increases. Unlike peers highly exposed to EV batteries, the company is focused on the fast-growing ESS market, where it already has a 40% share. Compared to CATL, it trades at a severe valuation discount (market cap 13 trillion won vs. 500 trillion won for CATL by 2028 target) and has a consensus target price implying 54% upside. The ESS segment is growing faster and can re-rate the stock as margins expand.
322310.KQ HIGH
Jun Yeok Joo-im Analyst 21:56
July seasonal strength favors Bitcoin rebound.
Bitcoin historically shows a strong seasonal tendency to rise in July (up in 10 of 14 years, ~70% probability). The market is currently cautious ahead of the FOMC meeting, but the new Fed Chair is expected not to deliver a hawkish message, which would be positive for risk assets. Combined with historically favorable July performance, this sets up a short-term rebound trade in Bitcoin.
BTC MED
Jun Yeok Joo-im Analyst 25:53
ETH supply shock and network value catch-up.
Ethereum is drastically undervalued, trading near its price from five years ago while simultaneously facing an acute supply shock. Over 33% of the total supply is staked, continuously reducing the circulating float. In addition, Ethereum dominates the stablecoin and real-world asset (RWA) markets, which are projected to grow to trillions of dollars. The network's security value must catch up to the value it secures, so when Bitcoin eventually rebounds, Ethereum is set to outperform significantly due to both supply dynamics and the need for the network value to rise to cover the assets built on it.
ETH HIGH
Park Se-ik CEO, ex-Chief Strategist 70:03
Wait for pullback before buying LIG Nex1.
LIG Nex1's strategic partnership with Rheinmetall to jointly build a multi-layered air defense system for Europe and NATO is a major catalyst. LIG Nex1 brings mid- and long-range missile capabilities that complement Rheinmetall's short-range systems, making it the only viable non-U.S. partner for such a project. This opens a huge new European market. However, the stock has already risen sharply and is now trading at over 50x earnings. The optimal strategy for defense names is to accumulate on valuation dips (e.g., when P/E is in the 20s or breaks below 30x) rather than chase news-driven spikes, because catalysts eventually materialize and re-rate the stock.
079550.KS MED
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This Chesley Investment Advisory (체슬리투자자문) video, published June 17, 2026, features Wang Jeong, Jun Yeok Joo-im, Park Se-ik discussing 킹보드 (Kingboard Laminates Holdings), 동생 (Dongguan Shengyi Electronics), 322310.KQ, BTC, ETH, 079550.KS. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Wang Jeong, Jun Yeok Joo-im, Park Se-ik  · Tickers: 킹보드 (Kingboard Laminates Holdings), 동생 (Dongguan Shengyi Electronics), 322310.KQ, BTC, ETH, 079550.KS