Ideas
US market breadth is broadening.
Year-to-date US market leadership has broadened beyond mega-cap technology into energy, materials, staples, real estate, and other lagging sectors, with equal-weight S&P 500 significantly outperforming the cap-weighted S&P 500. This suggests sector dispersion and a rotation away from crowded tech leadership.
Natural gas boosted by cold snap.
Severe cold across 32 US states is boosting heating demand and disrupting natural gas supply, driving a sharp year-to-date rally in natural gas and supporting energy stocks. The move is weather-driven and could normalize if the cold snaps end.
Card-rate cap pressures financials.
The Trump administration's proposal to cap credit card interest rates at 10% is pressuring financials and card issuers, weakening momentum even when earnings are decent.
Big Tech can lead again.
This week's Microsoft, Meta, Tesla, and Apple earnings are a key catalyst; Choi Ho argues IT has been overly depressed, worries are already reflected in prices, and Big Tech/IT can resume leading the US market higher.
Bitcoin downtrend and outflows.
Bitcoin is following a post-peak 200-300 day correction pattern, with ETF outflows, Fear & Greed in fear, no price response to Saylor buying, and a likely negative hit from yen strength/carry-trade unwind. The speaker sees weakening speculative demand.
Coordinated intervention favors stronger yen.
US and Japanese authorities are signaling coordinated FX intervention to stop excessive yen weakness; rate checks and official comments imply yen strength, dollar weakness, and historically effective coordinated intervention. The yen should strengthen, and USD/JPY should fall.
Coordinated intervention favors stronger yen.
US and Japanese authorities are signaling coordinated FX intervention to stop excessive yen weakness; rate checks and official comments imply yen strength, dollar weakness, and historically effective coordinated intervention. The yen should strengthen, and USD/JPY should fall.
Yen stability can lower US yields.
If coordinated yen intervention stabilizes Japanese bonds and the yen, Japanese JGB selling pressure should ease, which would reduce upward pressure on US Treasury yields and allow US yields to stabilize or decline.
FX intervention could lift Japan stocks.
Historical coordinated intervention episodes, including 1998 and the 1985 Plaza Accord, were followed by strong Japanese and Korean equity market rallies. If the current US-Japan FX coordination materializes, Japanese equities could benefit on a similar macro impulse.
Korean chip EPS upgrades support upside.
Samsung Electronics and SK hynix forward EPS estimates are being revised upward, keeping their P/E ratios stable or attractive even as share prices rise, which supports the case for Korean semiconductor leadership.
Korea still has upside.
Despite the index looking stretched, Korea still has upside because earnings estimates are rising, valuations remain low, a weaker dollar/stronger won is supportive, and domestic liquidity is abundant; historical cycles suggest further gains.
Digital-asset policy lifts platforms.
Government plans to activate KOSDAQ using digital assets and stablecoins are lifting platform and digital-asset-related stocks; NAVER, Kakao, and Kakao Pay rallied strongly on this policy theme.
Hyundai E&C, LG Electronics look weak.
Internal quantitative screening scores Hyundai E&C around the 30s and LG Electronics around 10, indicating low investment value because both lack earnings momentum.
Foreign buying lifts shipbuilders.
Korean shipbuilders were strong, and foreign investors have been aggressive buyers of Hanwha Ocean year-to-date, indicating positive sector momentum and continued foreign demand.
Brokerages benefit from trading boom.
Record KOSPI/KOSDAQ trading value, rising investor deposits, and government KOSDAQ activation are driving brokerage sector earnings momentum; Kiwoom Securities is highlighted as a strong mover and the sector should benefit from higher volumes.
JYP can catch up to HYBE.
HYBE's rising forward P/E and upward EPS revisions show strong entertainment momentum; JYP Entertainment trades at a cheaper valuation, so it may catch up as HYBE re-rates the sector.
BTS tour and new acts drive HYBE.
BTS's record world tour could generate about 1.3 trillion won in ticket revenue, with MD/albums potentially lifting total BTS revenue to 1.2-1.6 trillion won; new acts KATSEYE and CORTIS are growing rapidly, leading to a target-price raise to 440,000 won and a top-pick rating.
Robot solid-state batteries drive re-rating.
Physical AI/humanoid robots require solid-state batteries for 8-hour operation and higher energy density, and robot solid-state batteries could command 5-8x higher price per kW than EV batteries. Commercialization expectations build in 2026 with 2027 as the first year, supporting a re-rating of the value chain; Samsung SDI and Lotte Energy Materials are highlighted.
Battery stocks may rally again.
Korean battery stocks are expensive, but earnings appear to have bottomed and the robot narrative is now attached, similar to Hyundai Motor's re-rating setup. Another rally is possible, though the entry point is awkward.
Battery materials short-covering setup.
L&F may surprise on inventory valuation gains of around 20 billion won, and battery materials have high short interest, including about 2 trillion won in EcoPro, setting up potential short-covering rallies.
Zijin Mining is cheap miner.
Zijin Mining is China's largest copper/gold miner, with earnings geared to rising copper and gold prices. It trades at about 15x P/E versus copper peers at 22x and gold peers at 29x; a target 20x P/E implies large upside.
Copper and gold can rise.
Supply constraints and geopolitical risks could push copper and gold higher from current levels, with the report estimating around 20% upside for copper and 25% for gold; metals prices are broadly rising.
KOSDAQ runs into chip earnings.
KOSDAQ broke above 1,000 as government policy and presidential comments drive the market; the speaker expects further strength/overbought run into Thursday's Samsung Electronics and SK hynix earnings, with a positive candle expected.
This Chesley Investment Advisory (체슬리투자자문) video, published January 26, 2026,
features Choi Ho, Joon-hyuk, Park Se-ik, Oh Woo-seok
discussing RSP, UNG, XLE, XLF, US credit card issuers, US Big Tech, XLK, BTC, FXY, USD/JPY, TLT, EWJ, 005930.KS, 000660.KS, EWY, Korean equities, 035420.KS, 035720.KS, 377300.KS, 000720.KS, 066570.KS, 042660.KS, Korean shipbuilding sector, 039490.KS, Korean brokerage sector, 035900.KQ, 352820.KS, 006400.KS, 020150.KS, Solid-state battery value chain, KARS, 066970.KS, 086520.KQ, 601899, COPPER, GLD, KOSDAQ.
23 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Choi Ho,
Joon-hyuk,
Park Se-ik,
Oh Woo-seok
· Tickers:
RSP,
UNG,
XLE,
XLF,
US credit card issuers,
US Big Tech,
XLK,
BTC,
FXY,
USD/JPY,
TLT,
EWJ,
005930.KS,
000660.KS,
EWY,
Korean equities,
035420.KS,
035720.KS,
377300.KS,
000720.KS,
066570.KS,
042660.KS,
Korean shipbuilding sector,
039490.KS,
Korean brokerage sector,
035900.KQ,
352820.KS,
006400.KS,
020150.KS,
Solid-state battery value chain,
KARS,
066970.KS,
086520.KQ,
601899,
COPPER,
GLD,
KOSDAQ
