Broker Research: Sector, Macro and Strategy Notes

Nomura·2026-11-02Macro

USD/CNY fixing projection: forecast2026-11-02

Bernstein·2026-11-02Sector

GPN.USFIS.USFISV.USPYPL

Bernstein·2026-11-02Sector

DEC.PASAX.DE

Nomura·2026-11-02Sector

SKHYNIX SMSN AMZN GOOGL META MU ORCLMemory semiconductors·Overweight

J.P. Morgan·2026-11-02Sector

CR Land·Top pickCR Mixc·Top pickKE Holdings·Top pickTop100developercontractedsales: Full-yearforecastFY26E

Morgan Stanley·2026-11-02Sector

Greater China AI/server supply chain·Overweight

Goldman Sachs·2026-11-02Sector

DELL HPEHPQ.USNTAP

Bernstein·2026-11-02Sector

AMAT AMD AVGO INTC KLAC LRCX NVDAUS semiconductors·Overweight

Goldman Sachs·2026-11-02Sector

1336.HK1339.HK2318.HK2328.HK2601.HK2628.HK601318.SHChina insurers·Neutral

Morgan Stanley·2026-11-02Macro

Bernstein·2026-11-02Sector

1801.HK3692.HK6990.HK9688.HKAKESO MRK

Morgan Stanley·2026-11-02Strategy

Global equities·OverweightCore fixed income·UnderweightUS equities·Top pickS&P 500: target2Q27US HY credit spread: forecast2Q27

Morgan Stanley·2026-11-02Sector

5274.TW688008.SHCloud semiconductors·Overweight

Morgan Stanley·2026-11-02Macro

Goldman Sachs·2026-11-02Thematic

Global live data center capacity: raised2030US data center capacity: raised2030

Goldman Sachs·2026-11-02Sector

SKHYNIX SMSNServer shipment growth (TrendForce): raised2026

J.P. Morgan·2026-11-02Strategy

XLP·UnderweightFSLR.US·OverweightS&P 500: targetYE26

Nomura·2026-11-01Sector

6990.HKLLY MRKNOVN.SW

Nomura·2026-11-01Macro

PBoC overnight reverse repo rate: set2026-11

Bernstein·2026-11-01Thematic

EQIX ETN HUBB PWRSU.PAVRT

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

USD CNY fix model: Projection: 6.6611

Payments, Processors & IT Services Payments: Our brief perspectives on potential GPN takeout and read-across for the rest of the fintech

Global Media: Beginner's guide to Out-of-Home advertising

Global Memory: Is data center unprofitable? No, it is very profitable

China Property: Developers’ sales remain sluggish despite mortgage subsidy

Greater China Technology Hardware: Positive implications for downstream tech hardware companies from US hyperscalers' 3Q26 results

Americas Technology_ Hardware_ Key themes and expectations heading into C3Q26 results for DELL, HPE, NTAP & HPQ

U.S. Semiconductors and Semiconductor Capital Equipment: U.S. Semiconductors and Semicap,A crisis of confidence?

China Insurance: Earnings Review: Cautious outlook, focus on 2027 sales and dividend

Tracking industrial risks: Derisking on track with widening negative gap between industrial investment and production

China Pharma and Biotech: ESMO 2026 Summary: Global validation arrives

ASSET STRATEGY Cross-Asset Playbook – November 2026 Engage, With Caution

Cloud Semis: Growing Cloud Capex into 2027

Asia Economics: PMIs: Underlying details suggest broadening strength

Global Technology_ Global Data Center Capacity update_ Increasing capacity estimates

South Korea Tech_ Memory Pricing Tracker_ Oct. 2026_ 4Q26 DRAM ASP forecast for PC higher, server_mobile in-line, NAND lower

US Equity Derivatives Strategy Trading Macro Crosscurrents; Dec. Tech Rebalances, Systematic Flows, and Earnings Vol

China healthcare: MNCs’ Sept-quarter results read-through (2)

Asia Insights: China: PBoC formalizes the shift to overnight OMO

U.S. Electrical Equipment: AI Data Centers: Valuing the Vote-Your Playbook For Navigating the 2026 Midterms