Iran Gives China Concessions for Hormuz Transits | The China Show | 7/6/2026

Watch on YouTube ↗ | July 06, 2026 at 06:10 | 1:33:15 | Bloomberg Markets

Speakers

Jun Bei Liu — Ten Cap Founder

Avril — Asia Equities Reporter

Shuli Rand

Claudio Piron — Head of Asia FX and Rate Strategy, BofA Global Research

Anthony — Markets Reporter

Rong — Oil Reporter

David Ingles — Anchor, Bloomberg

Summary

The show covers a pivotal week for Korea with SK Hynix's $29bn US listing and Samsung earnings; Jun Bei Liu argues for A-shares over H-shares, Korea, Australia and copper as AI beneficiaries. Oil prices fall as Hormuz flows resume and OPEC+ adds supply. FX views see USD/KRW lower and USD/JPY headed to 152. Taiwan is pitched as a safer AI play, while Hong Kong IPO scrutiny intensifies.

Samsung reportedly plans a 20% DRAM price hike for Q3; SK Hynix's $29bn US ADR listing set for end of week.
Jun Bei Liu (Ten Cap) favours China A-shares over H-shares and likes Korea, Australia and copper for AI/infrastructure exposure.
Oil declines as tanker flows resume through the Strait of Hormuz and OPEC+ unwinds production cuts.
Hon Hai's second-quarter revenue jumps 40% on AI server demand, pivoting from iPhone assembly to Nvidia rack assembly.
Hong Kong's regulator intensifies scrutiny of IPO book-building ahead of 15 new listings.
BofA's Claudio Piron sees a year-term move lower in USD/KRW and medium-term USD/JPY toward 152.
Taiwan markets viewed as a lower-volatility way to play AI, while India is dubbed a shelter amid EM volatility.
US star striker Balogun cleared for World Cup round of 16 after Trump personally called FIFA.

Ideas

Avril Asia Equities Reporter 7:52

SK Hynix US listing narrows valuation gap

The US listing of SK Hynix will give American investors direct, passive-flow access to a pure-play memory leader, narrowing the persistent valuation discount (6.2x vs Micron's 7x forward earnings) and driving relative re-rating of SK Hynix.

Avril Asia Equities Reporter 9:12

Hon Hai now a core AI rack assembler

Hon Hai has successfully transformed from an iPhone assembler into a key assembler of AI server racks for Nvidia accelerators, driving a 40% revenue jump and establishing itself as a core AI hardware play with further upside.

Jun Bei Liu Ten Cap Founder 13:21

Korea still essential AI play in Asia

Korea remains one of the most exposed markets to the AI trade and the cycle is not over; profit-taking is mild and the market is still underpinned, so it should be part of any Asian portfolio.

Jun Bei Liu Ten Cap Founder 16:34

Australia offers cheap, lagging AI resource play

Australia is a hidden resource play (picks and shovels for AI) with cheap, cash-generating companies paying good dividends; data centre investment that boomed in the U.S. is now playing out in Australia with a lag, and the country hosts the world's largest copper producer.

Jun Bei Liu Ten Cap Founder 16:44

Copper supply tight, demand rising inexorably

Copper supply is heavily constrained (18 years to bring a new mine online), while demand from electrification and AI infrastructure keeps rising; this supply-demand imbalance supports a bullish copper view.

Jun Bei Liu Ten Cap Founder 17:55

China A-shares the next AI outperformer

China A-shares offer an enormous valuation discount versus other AI-exposed markets and are a self-contained market with strong earnings momentum; household savings and government-directed tech spending provide a massive tailwind, making China A-shares the next outperformer.

Claudio Piron Head of Asia FX and Rate Strategy, BofA Global Research 48:58

USD/KRW heading lower on carry and surplus

Soft US payrolls have priced out near-term Fed hike risk, carry trades are pulling funds into the won, and Korea's large current-account surplus plus potential BOK intervention support a move lower in USD/KRW over the next year.

Claudio Piron Head of Asia FX and Rate Strategy, BofA Global Research 53:53

Yen medium-term strength target 152

Japan's balance of payments has structurally improved and the yen is undervalued; BofA expects USD/JPY to grind toward 152 over the medium-to-long term, though near-term dollar-yen may test higher levels and a BOJ show of hand is needed for conviction.

Shuli Rand 61:40

Micron deeply cyclical, earnings too high

Micron is an extremely cyclical stock that gets over-pumped during booms and over-dumped during busts; current earnings estimates are too high and will be slashed when the cycle turns, justifying Michael Burry's short call.

Anthony Markets Reporter 85:53

Taiwan safer AI play with lower volatility

Taiwan is a much safer place to play the AI rally than Korea, because Taiwanese AI stocks have only half the volatility of Korean names, and local investors are rotating back into domestic AI plays as US allocation slows.

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This Bloomberg Markets video, published July 06, 2026, features Avril, Jun Bei Liu, Claudio Piron, Shuli Rand, Anthony discussing 000660.KS, 2317.TW, South Korea equity market, ASX 200, COPPER, CSI 300, USD/KRW, USDJPY, MU, Taiwan Weighted Index. 10 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Avril, Jun Bei Liu, Claudio Piron, Shuli Rand, Anthony · Tickers: 000660.KS, 2317.TW, South Korea equity market, ASX 200, COPPER, CSI 300, USD/KRW, USDJPY, MU, Taiwan Weighted Index