Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-10-02Sector

ESSITY-B.ST

Goldman Sachs·2026-10-02Strategy

Goldman Sachs·2026-10-02Sector

6146.T6525.TADVANTEST LASERTEC

Goldman Sachs·2026-10-02Sector

1357.HK0020.HK0268.HK301269.SZ600588.SH

Goldman Sachs·2026-10-02Strategy

Taiwan·OverweightKorea·OverweightBrazil·OverweightSouth Africa·OverweightHungary·Overweight

Goldman Sachs·2026-10-02Credit

Goldman Sachs·2026-10-02Strategy

Goldman Sachs·2026-10-02Sector

ASO.USDKS.USFL.USNKE

Goldman Sachs·2026-10-02Sector

OR.PABEI.DE

Goldman Sachs·2026-10-02Sector

KIOXIA6146.T6361.TLASERTEC TOKYOEL

Goldman Sachs·2026-10-02Strategy

Goldman Sachs·2026-10-02Sector

RIVN TSLA

Goldman Sachs·2026-10-02Sector

4307.T6501.T6532.T6701.T6702.T

Goldman Sachs·2026-10-02Sector

4307.T6532.T6701.T6702.T9432.TACN

Goldman Sachs·2026-10-01Macro

US establishment AI adoption rate: actual2026-09

Goldman Sachs·2026-10-01Sector

SKHYNIX SMSN MU

Goldman Sachs·2026-10-01Sector

SKHYNIX SMSN SAMSUNGEM034220.KS

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

EUROPE BANKS Higher rates drive sustained upside to estimates

Global Metals & Mining: Lithium consultant call feedback: 2027 supply growth exposed to risk; Softening China demand sentiment though

EUROPE TISSUE Industry deflation extends through September as volumes remain subdued

EUROPE WEEKLY KICKSTART: 3Q-26 Earnings Preview: The Hurdle Has Moved Higher

Japan Technology: Semiconductors: Investor feedback: Sentiment improving despite concerns about AI investment higher interest rates

CHINA SOFTWARE: AI agents and AI native tools in expansion to drive growth; Meitu down to Neutral on fair valuation vs. coverage

EM WEEKLY KICKSTART MSCI EM fell 1pct

MORTGAGE & STRUCTURED PRODUCTS TRADER: Low cap CMO floaters and moderately seasoned non-QM reprice wider

Korea, India continue to see foreign selling this week; EM Asia Mutual funds close 1% lower in September (+24-25% ytd); HFs net sell Asian equities for the fourth consecutive month

EM WEEKLY FUND FLOWS MONITOR Korea, India

Americas Retail Specialty Hardlines Promotional activity is mixed for 3QTD; Higher in stores at Academy and Dick's y y, Foot Locker q q

Europe Consumer Products Europe beauty market; Market remains resilient, as L'Oréal gains value share

Japan Technology Semiconductors Investor feedback Sentiment improving despite concerns about AI investment higher interest rates

WEEKLY FUND FLOWS: Cooling Inflows to Korea and Taiwan

US AUTOS & INDUSTRIAL TECH Tesla and Rivian 3Q26 vehicle deliveries takeaways

Japan Technology IT Services September BOJ Tankan data Software investment plans effectively raised, supply demand DI a new high

Japan Technology: IT Services: Accenture results read-across: Consensus beat; structural expansion in AI investment; AI benefits emerging

AI ADOPTION TRACKER September 2026: Adoption Rises to 23.8%

South Korea Tech: Memory: MU 4QFY26 read-across: Expecting 2027 and 2028 memory S D to be much tighter than 2026; Buy SEC Hynix

South Korea Tech: September 2026 export tracker: DRAM exports reach another all-time high at US$33bn (+552% yoy)