Broker Research: Sector, Macro and Strategy Notes

Nomura·2026-08-20Macro

CNY·Overweight

Nomura·2026-08-20Macro

China·Underweight

Nomura·2026-08-19Macro

CNY·Neutral

Nomura·2026-08-19Macro

US rates·Neutral

Nomura·2026-08-19Strategy

Asia rates·Underweight

Nomura·2026-08-19Thematic

China commercial space·Neutral

Nomura·2026-08-19Macro

Memory chips·OverweightKorea·OverweightTaiwan·Overweight

Nomura·2026-08-18Other

CNY·Neutral

Nomura·2026-08-17Strategy

CNY·Overweight

Nomura·2026-08-17Macro

China government bonds·OverweightChina·Underweight

Nomura·2026-08-17Other

CNY·Neutral

Nomura·2026-08-17Sector

China e-commerce·Neutral

Nomura·2026-08-17Sector

ANTA9987.HKChina consumer·Neutral

Nomura·2026-08-17Sector

4062.TPackaging substrates·Overweight

Nomura·2026-08-15Thematic

0763.HK300274.SZChina inverters·UnderweightChina robotics·Underweight

Nomura·2026-08-14Macro

US rates·Neutral

Nomura·2026-08-14Macro

Asia exports·Overweight

Nomura·2026-08-14Sector

SNDKNAND·Overweight

Nomura·2026-08-14Macro

China·Underweight

Nomura·2026-08-14Strategy

USD·UnderweightSGD·Overweight

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

USD CNY fix model: Projection: 6.7129

Asia Chart Alert China: Soft EPMI raises sustained growth concerns in August

USD CNY fix model: Projection: 6.7434

Economic Insights: US – Election timing favors Fed patience

Asia Insights: Asia rates: Pare back pay exposure

China Aerospace: Zhuque-3 completes China’s 1st land recovery

Special Report-Chipnomics-Introducing Nomura's Chip Shortage

USD CNY fix model Projection: 6.7483

Strategy Trade: Short USD CNH: 4 5 conviction remains intact, but raising our guard

Asia Insights: China: July activity data point to a worse slowdown

USD CNY fix model Projection: 6.7392

China e-commerce: E-commerce sales decelerated in July

China consumer: July retail sales remained lukewarm

Semiconductor packaging industry update: Packaging substrate shipments up 98% y-y

China inverter and robotics: FCC: forward-looking; structurally binding

US Economic Weekly: Cool for the summer

Asia Chart Alert: Nomura’s leading index of Asian exports

Industrial electronics sector: Implications of Sandisk’s Investor Day

Asia Insights: China: Credit growth remained at historical low in July

Key focus and themes: Near-term USD crosswinds– still leaning towards short USD