Broker Research: Sector, Macro and Strategy Notes

J.P. Morgan·2026-10-28Strategy

bitcoin vs gold·Overweight

Bernstein·2026-10-28Sector

CRM MSFT ORCL SNOW

Goldman Sachs·2026-10-28Sector

2317.TW2382.TW4938.TW6669.TW

Morgan Stanley·2026-10-27Strategy

AI adopters·OverweightSemiconductors and data centre·UnderweightLow-volatility value·Overweight

J.P. Morgan·2026-10-27Sector

1398.HK·Top pickSOE banks·Overweight

Morgan Stanley·2026-10-27Macro

J.P. Morgan·2026-10-27Credit

TENCENT9988.HKAsia TMT credit·Underweight

Bernstein·2026-10-27Thematic

CART.USDASH UBER

Bernstein·2026-10-27Sector

GOOGL PINS RDDT SNAP

J.P. Morgan·2026-10-27Macro

China industrial profit growth: acceleratedSep-26China industrial profit growth ytd: broadly stable; October expected stableSep-26

Bernstein·2026-10-27Thematic

SKHYNIX SMSN KIOXIA MU SNDK STX WDC

Goldman Sachs·2026-10-27Macro

High-tech contribution to China real GDP growth: about 2pp a year2026-2030Data-centre build-out boost to China real GDP level: about 40bp on average2026-2030

Nomura·2026-10-27Thematic

300308.SZ688498.SH

HSBC·2026-10-27Sector

1209.HK

Nomura·2026-10-27Macro

China industrial profit growth: 14.4% y/y2026-09China PPI inflation: 5.0% y/y2026-09

Bernstein·2026-10-27Sector

AMD INTC

Nomura·2026-10-27Macro

Nomura Chip Shortage Index: 104.02026-10

Nomura·2026-10-27Sector

002463.SZ002916.SZ2313.TW2383.TW300476.SZ3037.TW4958.TW6274.TW7911.T

Nomura·2026-10-27Strategy

USD·Underweight

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

Flows & Liquidity Retail investors pour record amounts into leveraged equity ETFs

Global Software How crowded is software as we enter Q4'26

TAIWAN CCL Solid expansion on GM OPM will continue into the next 12+ months, with widening CCL S D gap; Buy on EMC & TUC

Taiwan ODM Brands: 3-month preview: new AI server racks and smartphone models to drive growth in coming months

From AI Upstream to Downstream

China Banks: Thoughts post recent rally

Asia Economics: The Viewpoint: Navigating through concerns about AI capex, rates, and oil prices

Asia TMT: Beyond Headline News; Stay Cautious

US Emerging Internet: DoorDash and Instacart,Could a deal face antitrust scrutiny? Four ways to define a market..

U.S. Internet: Digital Ads 3Q26: On to the next story

China: Industrial profit growth picked up in Sept

U.S. IT Hardware Global Memory & Storage: HBF Deep Dive - Could HBF be the solution to the Memory bottleneck?

ASIA ECONOMICS ANALYST: China’s High-Tech Push: Support for Output, Less for Employment

Global AI Trend Tracker: Optical communication chip market trend

China Real Estate: Shanghai tour II: Ground check on retail dynamics

Asia Chart Alert: China: Industrial profit growth rebounded in September

U.S. Semiconductors: Intel, AMD: Something for everyone? Q326 preview

Asia Insights Chipnomics #3: The boom continues, chipflation follows

Asia AI PCB Substrate & CCL: 2026 TPCA: tighter supply with innovations underway

FX Insights USD: Watchful of tech and the midterms