Global Stock Valuation Check

[Chesley Morning Brief] Global Stock Valuation Check [26/06/01]
Watch on YouTube ↗  |  May 31, 2026 at 22:16  |  1:47:51  |  Chesley Investment Advisory (체슬리투자자문)
Speakers
Park Se-ik — CEO, ex-Chief Strategist
Junhyeok — Analyst

Summary

This morning briefing reviews global stock valuations with a focus on the US and Korean markets. It covers the impact of SpaceX's upcoming IPO, crypto market sentiment, and specific investment ideas including SK hynix and LG Energy Solution. The US market remains strong but concentrated, while KOSPI shows extreme outperformance in mega-cap tech stocks.

  • US major indices hit new highs led by IT and financials, but Russell 2000 lagged.
  • SpaceX IPO on June 12 is expected to cause minor forced selling in Nasdaq-100 index funds.
  • Bitcoin sentiment remains bearish with ETF outflows and fear index at 28.
  • SK hynix is viewed as early in a structural memory upcycle; KB analyst calls it 'only 5km into the marathon'.
  • LG Energy Solution gains support from ESS orders, 4680 cylindrical cells, and EU recovery.
  • KOSPI has surged 101% YTD but gains are extremely concentrated in top stocks like Samsung Electronics and SK hynix.
  • Small-cap and KOSDAQ stocks continue to sell off, highlighting extreme market bifurcation.
Trade Ideas
Junhyeok Analyst 20:02
Bitcoin sentiment negative, avoid.
Bitcoin sentiment remains very negative: ETF outflows of $1B+ last week, fear index at 28, MicroStrategy selling risk, and Korean retail volume collapsing. The 5-week moving average is resistance, and institutional selling pressure continues. Avoid BTC.
BTC HIGH
Park Se-ik CEO, ex-Chief Strategist 67:18
Samsung Electro-Mechanics re-rating on peer multiples.
Samsung Electro-Mechanics should be revalued upwards by comparing it to Japanese MLCC peers Murata (54x P/E) and TDK (96x P/E). As global MLCC leader with AI/auto exposure, its valuation could expand significantly if Japanese multiples sustain, implying 190 trillion won upside.
009150.KS MED
Park Se-ik CEO, ex-Chief Strategist 72:15
SK hynix at early marathon stage.
SK hynix is in the early stage of a structural growth cycle driven by AI demand. The KB analyst report projects memory supply shortage through 2028, HBM prices doubling by 2027, and dramatic EPS upside. Current 7x forward P/E is cheap versus Micron's 10x, and the race has just begun.
000660.KS HIGH
Park Se-ik CEO, ex-Chief Strategist 81:51
LG Energy Solution benefiting from ESS and 4680.
LG Energy Solution has multiple catalysts: European EV demand recovery boosting Poland utilization, AMPC support, 4680 cylindrical cell leadership, ESS growth with LFP wins, and further order momentum expected in H2. The report forecasts 2Q26 OP turnaround and 26% YoY profit growth in 2026.
051910.KS MED
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This Chesley Investment Advisory (체슬리투자자문) video, published May 31, 2026, features Junhyeok, Park Se-ik discussing BTC, 009150.KS, 000660.KS, 051910.KS. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Junhyeok, Park Se-ik  · Tickers: BTC, 009150.KS, 000660.KS, 051910.KS