Daily Morning Fund Managers' Operations Meeting Live | Senior Managing Director Park Se-ik & Chesley Investment Advisory [Morning Brief / 24.07.26.Fri]

Summary

Park Se-ik hosts a morning briefing with China specialist Wang Bu-jang and analyst Choi Ho. Wang argues Chinese battery stocks (CATL) have bottomed and are deeply undervalued versus Korean peers, while also highlighting a small-cap Chinese special steel name with massive share gain potential. Choi Ho emphasizes that AI capex flows into semiconductor equipment and memory (ASML, AMAT, LRCX, MU, SK Hynix ADR) provide relative strength, presents a bullish turnaround thesis on Intel, and details two Korean stock ideas: Samyang Foods trading at a deep value 12x P/E on 40%+ earnings growth, and LS Electric riding explosive U.S. data center power infrastructure orders. Park adds that Samsung's foundry turnaround could become a major re-rating catalyst.

• Chinese battery sector bottom confirmed; CATL at 16x P/E seen as a cheap turnaround play.
• A Chinese special steel maker with <1% global share seen as a tenbagger if it executes capacity growth and customer wins.
• AI capex from hyperscalers flows into semiconductor equipment and memory, supporting outperformance.
• Intel's strong Q2 and tight server CPU supply support a durable turnaround; stock corrected 30%.
• Samsung's foundry business may swing to profit in Q3, with upside to market cap if it gains share.
• Samyang Foods undervalued at 12x P/E despite 40%+ earnings growth and new China plant capacity.
• LS Electric benefits from U.S. data center power distribution demand, with 75% profit growth and margin upside.
• Oil spike and geopolitics weigh on overall market; rotation into real assets and defense stocks noted.