Korean Markets in Turmoil Due to Chip Rout | Insight with Haslinda Amin 7/28/2026

Watch on YouTube ↗  |  July 28, 2026 at 06:05  |  47:14  |  Bloomberg Markets
Speakers
Min Min Low — China Correspondent, Bloomberg
Wen He Su — Asia Equities Reporter, Bloomberg
Eugenia Victorino — Head of Asia Strategy at SEB
Yun Liu — Senior Asean Economist, HSBC
Praveer Sinha — CEO, Tata Power
Averil Hong — Asia Equities Reporter, Bloomberg

Summary

The program covers a global chip selloff fueled by China's homegrown DUV lithography progress and reignited fears of circular AI financing, triggering circuit breakers in South Korea. Oil prices eased on US-Iran diplomatic talks while central banks took center stage, with the RBA seen having room to hike and the BOJ facing yen pressure. Southeast Asia's divergence is examined—Malaysia and Singapore benefit from the AI boom whereas the Philippines faces the highest inflation risk. Tata Power's CEO discusses consistent earnings growth and its renewables and nuclear expansion.

  • Chip stocks tumble across Asia; KOSPI and KOSDAQ trigger circuit breakers after an 8%-9% plunge.
  • China reportedly plans DUV lithography production, threatening ASML's dominant position and chip equipment sector.
  • Nvidia's circular financing deals ($750 billion) resurface credit risk concerns, shifting investor focus to balance sheets.
  • Oil falls below $87 as Trump says US and Iran are in talks, easing supply disruption fears.
  • Eugenia Victorino (SEB) sees room for at least one more RBA hike and warns the yen stays under pressure without BOJ action.
  • HSBC's Yun Liu highlights Malaysia and Singapore as AI supply-chain winners with strong external balances.
  • The Philippines is flagged as having the highest inflation risk in Southeast Asia amid energy and food volatility.
  • Tata Power CEO Praveer Sinha reports 27th straight quarter of revenue growth and details pipeline in renewables, nuclear, and data centers.
Ideas
Min Min Low China Correspondent, Bloomberg 4:03
China DUV production threatens ASML revenues.
China plans to produce 5 deep ultraviolet (DUV) lithography machines this year and 20 next year, with most components locally sourced. This could drastically reduce China's demand for overseas chip-making equipment over the next decade. ASML could lose 20% of revenue from China, and the mass production of DUV machines changes the cost environment, pressuring ASML, its suppliers, and downstream chipmakers.
ASML MED
Wen He Su Asia Equities Reporter, Bloomberg 7:11
Nvidia circular financing raises credit risk.
Nvidia's circular financing deals, including $500 billion with SK Group and $250 billion with OpenAI, raise concerns about real demand transparency. Nvidia provides financing to customers who then buy its chips, skewing demand signals and increasing balance-sheet risks. The spike in Nvidia credit default swaps and a shift in fund manager focus from earnings to credit outlook indicates mounting credit risk and potential equity weakness.
NVDA MED
Eugenia Victorino Head of Asia Strategy at SEB 20:53
BOJ delay keeps yen under pressure.
The Bank of Japan has been behind the curve. Unless Governor Ueda makes it clear that the next meeting (August or September) is live for faster tightening, the yen will remain under pressure. Market expectations for a faster pace of tightening are not yet satisfied.
JPY MED
Eugenia Victorino Head of Asia Strategy at SEB 22:33
RBA has room to hike further.
The Reserve Bank of Australia still has room for at least one more rate hike because domestic price pressures persist, even without the energy disruption from the Strait of Hormuz. Underlying inflation in Australia remains uncomfortably high and justifies further tightening.
AUD HIGH
Yun Liu Senior Asean Economist, HSBC 27:03
Philippines faces highest inflation risk.
The Philippines faces the highest inflation risk in Southeast Asia due to heavy dependence on oil, gas, and food, amplified by El Niño and a corruption scandal that has crimped public infrastructure spending. Economic growth is slowing, and inflation volatility remains a primary risk.
EPHE MED
Yun Liu Senior Asean Economist, HSBC 29:56
AI boom benefits Malaysia and Singapore.
Malaysia and Singapore are the standout beneficiaries of the AI boom in Southeast Asia, deeply embedded in the chip supply chain and data-center buildout. Trade data remains resilient, CapEx is hitting record highs, and both economies posted wider current-account surpluses in Q1. Malaysia additionally enjoys the best inflation story in the region thanks to generous fuel subsidies.
EWM EWS MED
Praveer Sinha CEO, Tata Power 40:43
Tata Power growth across renewables and nuclear.
Tata Power has delivered 27 consecutive quarters of revenue growth. Q1 results are typically muted, but full-year performance usually reaches 4 to 4.5 times the first quarter. The company has a strong pipeline of utility-scale solar and wind projects (5.3 GW, ~50% to be completed this year), advancing nuclear projects in Madhya Pradesh and Gujarat, and is positioning to supply integrated clean energy to data centers.
Tata Power HIGH
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This Bloomberg Markets video, published July 28, 2026, features Min Min Low, Wen He Su, Eugenia Victorino, Yun Liu, Praveer Sinha discussing ASML, NVDA, JPY, AUD, EPHE, EWM, EWS, Tata Power. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Min Min Low, Wen He Su, Eugenia Victorino, Yun Liu, Praveer Sinha  · Tickers: ASML, NVDA, JPY, AUD, EPHE, EWM, EWS, Tata Power