Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-08-24Strategy

Nomura·2026-08-24Sector

SKHYNIX006400.KSSAMSUNGEM034220.KS267260.KS357780.KQSamsung SDI·Top pick

Nomura·2026-08-24Macro

Japan general account expenditure: Nomura estimateFY2027

Goldman Sachs·2026-08-24Sector

KIOXIA6146.T6361.TLASERTEC TOKYOELWFE market: GS forecastCY2026

Goldman Sachs·2026-08-24Macro

Goldman Sachs·2026-08-24Sector

1815.TWO2383.TW6274.TWOTaiwan CCL·Overweight

J.P. Morgan·2026-08-24Sector

AJBU.SIKEP.SISingapore data centres·Overweight

Bernstein·2026-08-24Thematic

AI security·Overweight

Morgan Stanley·2026-08-24Sector

China autos·NeutralChina PV wholesale volume: MS forecast2026China auto exports: MS forecast2026

Deutsche Bank·2026-08-24Macro

China government bonds·OverweightPhilippine government bonds·OverweightMalaysian government bonds·Neutral

Bernstein·2026-08-24Sector

CRH.USROCK-B.COSGO.PASIKA.SWEuropean construction·Neutral

Morgan Stanley·2026-08-24Sector

2454.TW6531.TWACMR SIMOMediaTek·Top pickAP Memory·Top pickGreater China semis·Overweight

Deutsche Bank·2026-08-24Macro

USD vs G10·Underweight

Goldman Sachs·2026-08-24Macro

Global Current Activity Indicator: GS estimateJul-2026

J.P. Morgan·2026-08-24Strategy

European duration·Underweight

Morgan Stanley·2026-08-24Sector

2454.TW3443.TW3661.TWMediaTek·Overweight

J.P. Morgan·2026-08-24Sector

BHP.USRIO.USChina copper demand·Neutral

Goldman Sachs·2026-08-24Sector

SKHYNIX SMSN SAMSUNGEM058470.KQKorea memory supply chain·Overweight

BofA Securities·2026-08-24Sector

China basic materials·Neutral

Goldman Sachs·2026-08-24Strategy

Technology·OverweightAutos·Underweight

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

Index Strategy: FTSE Global Equity Index Series Rebalancing Review and Flow Implications (September 2026)

Korea Technology: 2H26 Tech Tour takeaways

Fiscal Insight: FY2027 general account budget request to exceed JPY130trn

Japan Technology: Semiconductor Capital Equipment: Raising WFE outlook; production capacity pricing power in face of strong orders becoming increasingly important

Tracking U.S. Supply Chain Congestion: GS Supply Chain Congestion Scale: Aug 24th; Index Higher W W, Bottleneck Scale Unchanged at ‘2’

Taiwan CCL: Fulltech mgmt. visit: Ongoing product mix shift toward high end, suggesting accelerating market share from Taiwan CCL players

SG Property Intelligence: Singapore awards 200MW of new DC capacity

U.S. SMID-Cap Software AI-future of Cybersecurity: An entrepreneur's AI security vision

China Autos & Shared Mobility: Exports hold the fort

Asia Bonds Demand - Supply Monitor

European Construction & Building Materials European Construction Indicators & PMI: Green shoots, but not yet a recovery (Aug tracker)

Greater China Semiconductors: Global AI ASICs Outlook,Quantum Security,and China AI compute

Dollar selling intensifies in G10, USD buying persists in EM

Global: GS Economic Indicators Update: China Spending Data Surprises to the Downside

Global Macro Outlook and Strategy: Global Rates, Commodities, Currencies and Emerging Markets

Asia-Pacific Technology: AI Supply Chain,Google ASIC, who gets what for design services?

China Metals Activity Tracker: China Copper buying cools; Macro signals mixed

SOUTH KOREA TECHNOLOGY: Korea WFE Substrate CCL Chip testing HBM Supply Chain Check reinforces our positive view on Samsung Electronics, SK Hynix, and SEMCO

Basic Materials-China: Gold Rallied; Copper Retreated and Steel Margins Sank

Global Weekly Kickstart: Passive Flows Continue to Favor Technology