Broker Research: Sector, Macro and Strategy Notes

J.P. Morgan·2026-08-07Sector

6762.TWDCHDD components·Overweight

BofA Securities·2026-08-07Sector

SKHYNIX SMSN KIOXIAMemory·Overweight

Bernstein·2026-08-07Sector

HDD and NAND storage·Overweight

J.P. Morgan·2026-08-07Macro

Goldman Sachs·2026-08-07Sector

China grid equipment·Neutral

J.P. Morgan·2026-08-07Sector

0083.HKHK property·Neutral

Goldman Sachs·2026-08-07Sector

002557.SZ2319.HK600132.SH600600.SH603345.SHChina consumer staples·Neutral

Morgan Stanley·2026-08-07Sector

2317.TW2382.TW3231.TWNVDAAI server ODMs·Neutral

UBS·2026-08-07Sector

003670.KS006400.KS373220.KSKorea battery materials·Overweight

Goldman Sachs·2026-08-07Sector

BGL.AXGGP.AXNEM.AXPNR.AXWGX.AXAustralian gold miners·OverweightAustralian lithium·Underweight

Goldman Sachs·2026-08-07Macro

Goldman Sachs·2026-08-07Strategy

EM equities·Overweight

Bernstein·2026-08-07Sector

Memory·Overweight

Goldman Sachs·2026-08-07Strategy

China equities·Overweight

Nomura·2026-08-07Macro

Morgan Stanley·2026-08-07Sector

CEGSEI.USSRE.US

Bernstein·2026-08-07Sector

India power·Overweight

Goldman Sachs·2026-08-07Strategy

Japan equities·Overweight

Goldman Sachs·2026-08-07Strategy

Korea equities·NeutralIndia equities·Overweight

Bernstein·2026-08-07Sector

Refined products·Overweight

Research: Broker notes on sectors, macro, rates and strategy

Electronic Components Sector: Western Digital’s 4Q FY2026 results: Implications for Japan’s electronic components sector

Global Memory Tech Weekly theme-Memory industry forecasts, NAND spot rally, Samsung’s dividends

U.S. IT Hardware Memory & Storage: What we learned from our NDR with STX Management and recent NAND & HDD earnings

China July trade: AI still the anchor, external risks rise

China Grid Tech: Domestic grid investment slowed and State Grid 3rd batch transmission tendering weak, while UHV remains positive

Hong Kong Property: More signs of moderation in housing market; downgrade Sino Land to Neutral

CHINA CONSUMER STAPLES July Check-in: Mixed trends - Beer under more weather destocking drag, while beverages diversifying sequentially; value retailers dairy food maintained resilience strength

Greater China Technology Hardware: GB200 and GB300 NVL72 Racks in July 2026

Global Battery Supply Chain: Korean LFP cathode supply chain build accelerates

Australian Gold, Lithium & Uranium Coverage

China: Trade growth moderated in July

MSCI EM closed flat w w; Broadening outside of tech as Cyclicals, Commodity pockets gained; 2Q results continued to track stronger than expectations with Median profits up 17% yoy

Global Semiconductors and Semiconductor Capital Equipment Global Semis: June 2026 WSTS Tracker - Sales +10.5% MoM, above typical (+6.5% MoM) & 135% YoY on continued memory strength

CHINA WEEKLY KICKSTART-Markets gained 1-2% with A-shares tech rebounding 7%; US announced new import restrictions; HK SFC and CSRC jointly announced new measures; Unofficial PMIs fell in July

Asia Economic Monthly: How AI is rewiring Asia’s labour market

Diversified Utilities IPPs: 2Q26 Earnings Takeaways - Constellation Energy, Solaris, and Sempra

Bernstein Energy & Power: Powering Data-Centers beyond American shores...

JAPAN WEEKLY KICKSTART: 1Q 3 27 results summary (as of Aug 6)

EM WEEKLY FUND FLOWS MONITOR Foreign selling continues

Americas Energy & Transition Americas Oil: The drone attacks on Russian refineries are stunning (says our real-time satellite AI refinery tracker)