Iran Concerns Give Oil a Short-lived Boost | The China Show 4/23/2026

Watch on YouTube ↗  |  April 23, 2026 at 07:29  |  1:32:34  |  Bloomberg Markets
Speakers
Matty Zhao — Crypto reporter, CoinDesk
Ed Ludlow — Co-Host, Bloomberg Technology
Danny Lee — Seoul Bureau Chief, Bloomberg

Summary

The show covers the ongoing Iran war and Strait of Hormuz blockade keeping oil above $100, with markets sensitive to escalation rumors. Tech hardware earnings, especially SK Hynix's record profit, drive Asian equity outperformance in Korea and Taiwan. Guests discuss China's energy resilience, Gotion's growth outlook, and BofA's energy security trade ideas favoring oil, coal, lithium, copper, and battery makers.

  • Oil spikes briefly on unverified Iran escalation reports, Brent back above $100.
  • SK Hynix reports record quarterly profit on HBM demand, stock gains but off highs.
  • Tesla announces $25B CapEx plan for AI and robotics, shares dip after hours.
  • Gotion chairman Lee Jun expects 70% domestic growth and double overseas growth.
  • BofA's Matty Zhao recommends upstream oil, coal, lithium, copper, and battery stocks on energy security.
  • Goldman Sachs strategist Si Fu remains constructive on China's AI and IPO pipeline.
  • Hang Seng tech underperforms as software stocks lag hardware in Asia.
  • Philippine BSP decision today is a coin toss between hold and hike amid inflation and weak growth.
Trade Ideas
Samy Chaar Lombard Odier, Chief Economist & Switzerland CIO 30:04
SK Hynix cheap, HBM demand insatiable.
SK Hynix benefits from insatiable demand for HBM used in AI accelerators, driving record profits and a 60% spike in DRAM average selling prices in Q1, while its valuation remains cheap at 6x forward earnings compared to TSMC and NVIDIA above 20x, making it an attractive pick despite cyclical memory risks.
000660.KS MED
Lee Jun 40:22
Gotion growth 70% domestic, overseas double.
Gotion High Tech expects 70% domestic growth and double overseas growth this year, driven by strong EV battery demand and expansion into energy storage, with confidence that it will survive industry consolidation and benefit from next-generation battery technology.
Gotion High Tech HIGH
Matty Zhao Crypto reporter, CoinDesk 76:38
PetroChina benefits from higher oil.
Energy prices will be higher for longer due to the Iran war disruption, benefiting upstream oil and gas companies like PetroChina, which has exposure to higher crude and gas prices.
PetroChina MED
Matty Zhao Crypto reporter, CoinDesk 76:44
Coal alternative, benefits Shanghai Yang Kwang.
As energy disruption persists, coal becomes a backup fuel, benefiting coal producers like Shanghai Yang Kwang, which can supply alternative energy to Asian markets.
Shanghai Yang Kwang LOW
Matty Zhao Crypto reporter, CoinDesk 77:00
Lithium demand strong, prices surging.
Lithium prices have surged from 70,000 to 170,000-180,000 CNY per ton due to tight inventories at historical lows and 50% year-to-date demand growth from doubling EV sales and energy storage, making lithium a key beneficiary of electrification.
LITHIUM MED
Matty Zhao Crypto reporter, CoinDesk 77:28
Battery demand spike, CATL LG Chem.
Near-term battery demand could spike as countries use batteries to buffer energy crisis, benefiting battery makers like CATL and LG Chem, which are leaders in the space.
CATL LG Chem LOW
Matty Zhao Crypto reporter, CoinDesk 78:03
Copper supply tight, prices supported.
Copper prices are supported by cost inflation from diesel and sulfuric acid shortages, plus potential low-single-digit supply cuts in Africa and Australia due to lack of inputs, while electrification drives long-term demand, making copper a beneficiary of supply tightness.
COPPER MED
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This Bloomberg Markets video, published April 23, 2026, features Samy Chaar, Lee Jun, Matty Zhao discussing 000660.KS, Gotion High Tech, PetroChina, Shanghai Yang Kwang, LITHIUM, CATL, LG Chem, COPPER. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Samy Chaar, Lee Jun, Matty Zhao  · Tickers: 000660.KS, Gotion High Tech, PetroChina, Shanghai Yang Kwang, LITHIUM, CATL, LG Chem, COPPER