Buzzberg Cup Live

US Strikes Iran A Second Day; AI Rotation Trade on Watch | The Asia Trade 7/8/2026

Watch on YouTube ↗  |  July 09, 2026 at 09:19  |  1:35:00  |  Bloomberg Markets
Speakers
Anthony Stevens — Bloomberg Market Producer
Garfield Reynolds — Markets Reporter/Editor, Bloomberg
Rohit Sipahimalani — CIO, Temasek
Paul Allen — Reporter, Bloomberg
Ruth Stephenson — Senior Editor, Bloomberg

Summary

The Asia Trade covers US airstrikes on Iran for a second day, pushing Brent crude above $80 and fueling safe-haven buying in AI/semiconductor stocks. Fed minutes show some officials favored a June hike, adding inflation jitters. Bain Capital exited Kioxia entirely, while SK Hynix’s $28B US listing was heavily oversubscribed, boosting Korean tech. Chinese tech advanced on AI model progress and Hong Kong ECM strength. Temasek’s CIO called Nvidia undervalued and argued the S&P 500 rally is earnings-driven.

  • US launches second day of strikes on Iran; Trump says ceasefire is over, threatening Hormuz oil flows
  • Oil (Brent) briefly tops $80/bbl; energy stocks outperform across Asia
  • Investors rotate into semiconductors as a safe haven and AI growth play; SOX stages intraday rally
  • Fed minutes reveal several officials saw case for June rate hike on broad inflation concerns
  • Bain Capital confirms it sold its entire stake in flash memory maker Kioxia
  • SK Hynix US IPO is more than 7x oversubscribed; Samsung posts record profit; Korean tech rebounds
  • Chinese tech gains on AI model momentum, rotation flows, and strong Hong Kong capital raisings
  • Temasek CIO says Nvidia is cheap at 13x forward earnings and S&P 500 multiple has actually compressed on earnings growth
Ideas
Anthony Stevens Bloomberg Market Producer 11:10
Semis are clean AI haven play.
During US-Iran escalation, investors are using the old Iran playbook of buying semiconductor and AI trades as the one area that can outgrow inflation concerns. The rotation trade that had been hurting semis reversed sharply, with semis decoupling positively from the Dow. The semiconductor trade looks clean for the back half of the year.
SMH HIGH
Garfield Reynolds Markets Reporter/Editor, Bloomberg 14:08
Korean won set to strengthen.
Korean authorities are actively supporting the won by selling FX reserves and selling euro-denominated bonds early. Foreign buying of Korean equities is resuming, and SK Hynix ADR proceeds will be repatriated into won. Inflation pressures could force a BoK rate hike, adding further support. The won is set to strengthen.
KRW HIGH
Garfield Reynolds Markets Reporter/Editor, Bloomberg 14:59
Korean chip stocks ready to rebound.
Samsung and SK Hynix share prices have corrected, removing the forced selling pressure that came when they breached portfolio concentration limits. Foreigners are now buying Korean shares again. Valuations are cheaper and AI demand remains strong, making this a good entry point for Korean tech.
005930.KS 000660.KS HIGH
Anthony Stevens Bloomberg Market Producer 16:00
Chinese tech rotation gaining momentum.
Chinese AI models are making significant progress and the open-source approach is working. Hong Kong ECM is very strong with tight pricing, indicating real appetite. An improving retail picture could add a new leg higher for Chinese internet/tech, with rotation flows pivoting from Korea into cheaper Chinese names.
KWEB MED
Rohit Sipahimalani CIO, Temasek 92:27
Nvidia cheap at 13x forward earnings.
Nvidia is trading at only 13x 2027 earnings and is not frothy. The AI ecosystem is generating half a trillion dollars of free cash flow, earnings are still strong, and the near-term capex cycle supports further growth. Multiples across AI have actually come down.
NVDA HIGH
Rohit Sipahimalani CIO, Temasek 93:30
S&P 500 rally is earnings-driven.
The entire rise in the US market this year has been earnings-driven, not multiple expansion. Multiples today are lower than at the start of the year. The S&P 500 equal-weight index is expected to grow earnings 17%, and double-digit earnings growth is expected globally in 2027-2028, justifying current equity levels.
SPY MED
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This Bloomberg Markets video, published July 09, 2026, features Anthony Stevens, Garfield Reynolds, Rohit Sipahimalani discussing SMH, KRW, 005930.KS, 000660.KS, KWEB, NVDA, SPY. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Anthony Stevens, Garfield Reynolds, Rohit Sipahimalani  · Tickers: SMH, KRW, 005930.KS, 000660.KS, KWEB, NVDA, SPY