Broker Research: Sector, Macro and Strategy Notes

Bernstein·2026-08-27Sector

GOOGL METAUS internet·Neutral

Goldman Sachs·2026-08-27Thematic

Crude oil·NeutralPersian Gulf total oil exports: GS estimate (method 1)recent weeks

Nomura·2026-08-27Macro

China·UnderweightChina real GDP growth: Nomura forecastQ3 2026

Bernstein·2026-08-27Sector

LASERTEC7741.TJapan semi materials·Overweight

Goldman Sachs·2026-08-27Macro

Long-end G10 bonds·NeutralUS 10y Treasury yield: GS forecastend-2026UK 10y gilt yield: GS forecastend-2026

Goldman Sachs·2026-08-27Sector

4062.T6976.T6981.TJapan electronic components·Overweight

Goldman Sachs·2026-08-26Thematic

European heavy industry·OverweightChina exporters·Underweight

Morgan Stanley·2026-08-26Thematic

China memory·OverweightCXMT DRAM wafer capacity: MS estimate2026

J.P. Morgan·2026-08-26Thematic

9988.HKChina internet·Neutral

Morgan Stanley·2026-08-26Sector

017670.KS030200.KS032640.KSKT Corp·Top pickKorea telecoms·Neutral

Morgan Stanley·2026-08-26Sector

1972.HK1997.HKHKLD.SIHong Kong landlords·OverweightHong Kong developers·Underweight

Goldman Sachs·2026-08-26Sector

Japan banks·OverweightBOJ terminal policy rate: GS forecastterminal

HSBC·2026-08-26Sector

SKHYNIX SMSNSK Hynix·Top pick

Morgan Stanley·2026-08-26Strategy

China consumption·Underweight

J.P. Morgan·2026-08-26Sector

China steel·NeutralChina crude steel output: run rate10 days to 20 AugChina steel production: JPM estimate2026

Goldman Sachs·2026-08-26Strategy

High-carry low-debt FX·OverweightEnergy-linked FX·Overweight

J.P. Morgan·2026-08-26Sector

Hong Kong landlords·Overweight

Morgan Stanley·2026-08-26Thematic

Agribusiness·Neutral

Goldman Sachs·2026-08-26Sector

603486.SH688169.SHRoborock·Top pickEcovacs·Avoid

Morgan Stanley·2026-08-26Sector

Japan semiconductor production equipment·OverweightWFE revenue: MS forecast2026e

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

US Internet: All in all just another settlement in the Internet regulatory wall

Oil Comment: How Much Oil Is the Gulf Exporting?

Asia Insights: China monthly: August data preview

Japan Semiconductors: Japan Semi: Mask Blanks-The Unsung Hero Behind Proliferating AI ASIC Designs

Global Markets Daily: G10 Rates Views—Shallow Relief For Long-End Woes

Japan Technology: Hardware - Electronic Components Semiconductors: NVDA 2Q read-across: reiterate buy on Ibiden Murata Taiyo

GS SUSTAIN: EU Carbon Tariffs Move Downstream: $150-430bn of auto and industrial imports potentially in scope

China Memory–Reshaping Global Competition

China Internet: Who Pays for the AI Build?

S.Korea Telecoms: Data Center optionality not reflected in current valuations

Hong Kong Property: More Uncertainty for Developers; Prefer Landlords

Japan Banks: Rising near-term BOJ rate hike expectations: implications for banks

Asia Memory: Cash dividend not good? Improvement in total shareholder return is on track in Korea memory

China Equity Strategy: China Five-factor Consumer Activity Z-Score vs. MSCI China

China Steel - Channel checker: 10-day China steel output weakens further,-7% vs previous&-7% YoY

Global Markets Daily: Carry, Fiscal, and Energy through an FX Factors Lens

Property Data Monitor: Mainland China: real-time secondary sales improved; HK: polarized sell-through rates (100%&2%); Hung Shui Kiu pilot scheme awarded

El Nino Tracker: Higher Probability, Stronger Intensity, Higher Risk of a Historic Event

CHINA CONSUMER DURABLES RVC 2Q26 wrap: Divergent 2Q results, demand trend and competition dynamics the key focus into 3Q

Semiconductor Production Equipment: Tech Monthly Aug 2026