Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-10-06Macro

Hong Kong PMI: 49.2 in September vs 49.5 in August2026-09

Goldman Sachs·2026-10-06Sector

AMZNCHWY.USETSY.USGRPN.USPTRN.USW.US

Goldman Sachs·2026-10-06Sector

000792.SZ1772.HKZIJINMINING9696.HKSQM.USLithium·UnderweightChina lithium carbonate price: GS forecast2027China lithium carbonate price: GS forecast2028

Goldman Sachs·2026-10-06Sector

Goldman Sachs·2026-10-05Sector

ANTO.LGLEN.LRIO.L

Goldman Sachs·2026-10-05Sector

CVE.USSU.US

Goldman Sachs·2026-10-05Sector

ADI MCHPNXPI.US

Goldman Sachs·2026-10-05Strategy

Goldman Sachs·2026-10-05Sector

AXPBFH.USCOF

Goldman Sachs·2026-10-05Macro

Global composite PMI: 54.3 in September2026-09US services PMI: 58.8 post-pandemic high2026-09Global manufacturing input price PMI: 61.0 in September2026-09

Goldman Sachs·2026-10-05Strategy

Goldman Sachs·2026-10-05Macro

Goldman Sachs·2026-10-05Strategy

012330.KS012450.KS2338.HKZIJINMINING300750.SZ3563.T6752.TMARUTI.NSPanasonic·Top pickCATL·Top pickZijin Mining·Top pickWeichai Power·Top pickFood & Life·Top pickHanwha Aerospace·Top pick

Goldman Sachs·2026-10-05Sector

6762.T7741.TSTX WDC

Goldman Sachs·2026-10-04Thematic

US data center capacity: 64 GWend-2026US data center capacity: 90 GWend-2027

Goldman Sachs·2026-10-04Sector

WFC BAC CWells Fargo·Top pickBank of America·OverweightCitigroup·Overweight

Goldman Sachs·2026-10-04Macro

China real GDP growth: 4.4% yoy3Q26

Goldman Sachs·2026-10-03Strategy

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

Hong Kong: PMI edged down in September

AMERICAS TECHNOLOGY: INTERNET US eCommerce Q3’26 Preview: Analyzing the Industry Debates & Estimates

GLOBAL METALS & MINING: Lithium - refreshing our global S D balance, maintain cautious view on 2027E and 2028E

CHINA NEW ENERGY VEHICLE WEEKLY CHARTBOOK: 2026 Week 40 -Weekly order +9% -52% wow yoy, retail wholesale NEV penetration 66% 70%

EUROPE METALS & MINING: Constructive on copper; looking through a softer SepQ

Americas Energy: Oil: Consolidation and Portfolio Streamlining in Canadian Oil & Gas; Strategic Announcements by CVE and SU

Americas Technology: Semiconductors: SIA data shows mostly above-seasonal trends in August

Strategy Espresso: Growth is good,but Rates bite

GOAL KICKSTART: Credit pressures drive sharp repricing of monetary policy factor

3Q26 Preview: Focus on deposit competition, rates, continued loan growth and a less certain macro

Global PMI Monitor: US Services Strength

GLOBAL WEEKLY KICKSTART: Rising Yields Challenge Earnings Strength

US ECONOMICS ANALYST: How Will Higher Rates Affect the US Economy?

Spillovers from the Global AI Capex Cycle

APAC Conviction List-Directors' Cut: October Update: Adding Panasonic,CATL,Zijin Mining,Weichai Power,Food & Life,Hanwha Aerospace;removing Hyundai Mobis,Maruti Suzuki India

Global Technology: Reported HDD capacity additions by Toshiba: Framing implications for the HDD supply chain

Power Tracker: US Data Center Outlook Largely Intact Despite Rising Political Scrutiny

Americas Banks: 3Q26 Preview: Cautious optimism;focus on capital markets slowdown,strong NII,and moderating capital returns

China: Three things in China

NIFTY declined 3%, down for the 8th straight week, touching a 52-week low; Valuations down to 6-year lows; Hawkish hikes by RBI ahead; September drawdown drivers