Broker Research: Sector, Macro and Strategy Notes

Goldman Sachs·2026-11-06Sector

002472.SZ002484.SZ002518.SZ002837.SZ2050.HK300124.SZ600885.SHIndustrial automation and robotics·OverweightData-center electricals·OverweightGrid technology·NeutralChina industrial automation market growth: Modest recovery2027EChina grid investment growth: Slows from 2026E 8%2027E

Goldman Sachs·2026-11-05Sector

5803.T6501.T6503.T6504.T6622.T

Goldman Sachs·2026-11-05Sector

000333.SZ0300.HK300866.SZ688169.SH

Goldman Sachs·2026-11-04Sector

AEP.USCEGDUK.USEIX.USFE.USNRG.USPCG SOSRE.USVSTXEL.US

Goldman Sachs·2026-11-04Sector

1686.HK300383.SZ300442.SZ603881.SH9698.HKGDS.USVNET.US

Goldman Sachs·2026-11-03Sector

0670.HK0753.HK1055.HK600029.SH600115.SH601021.SH601111.SHSpring Airlines·Top pickChina Southern·AvoidSingapore jet fuel price: Revised assumption2027E

Goldman Sachs·2026-11-02Sector

SKHYNIX SMSN KIOXIA

Goldman Sachs·2026-11-02Sector

DELL HPEHPQ.USNTAP

Goldman Sachs·2026-11-02Sector

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

Goldman Sachs·2026-11-02Sector

SKHYNIX SMSNServer shipment growth (TrendForce): raised2026

Goldman Sachs·2026-10-30Sector

300724.SZ300751.SZ

Goldman Sachs·2026-10-30Sector

MINIMAX ZHIPU

Goldman Sachs·2026-10-29Sector

Japan optical cable·Overweight

Goldman Sachs·2026-10-28Sector

300124.SZ

Goldman Sachs·2026-10-28Sector

2317.TW2382.TW4938.TW6669.TW

Goldman Sachs·2026-10-27Sector

BYD

Goldman Sachs·2026-10-27Sector

SKHYNIX SMSNBlended HBM ASP: +122% y/y to US$3.7/Gb2027

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

CHINA INDUSTRIAL TECH 2027 Outlook-Valuation reset; prefer AI robotics, DC Electricals vs. Grid Tech

Japan Technology_ Hardware - Industrial Electronics_ Google announces DC investment in Malaysia_ Focus on orders at coverage

Midea-Anker-Roborock

Americas Utilities_ Power_ Early views on key state election results for power_utilities; potential risk to TX exposed stocks

China Data Centers_ 3Q26 A-share Review & ADR Preview_ Cut TPs on Multiple Contraction; AI Compute Scales

CHINA NEW ENERGY VEHICLE WEEKLY CHARTBOOK 2026 Week 44 - Weekly order +21%-+48% wow-yoy driven by new model launches

CHINA TRANSPORTATION: AIRLINES,Higher jet fuel to weigh for longer, though supply shortage sustains

APAC Tech_ Semiconductors Memory_ Kioxia CY3Q26 read-across; mid- to long-term positive NAND outlook intact; Buy SEC_Hynix

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

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

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

CHINA SOLAR: EQUIPMENT: Updating estimates post 3Q26 results

Navigating China Internet & AI models: LLM call series: Views from expert, Z.AI & MiniMax company spotlights

Japan Technology: Hardware -Industrial Electronics: September MOF data (optical fiber cable): Favorable trend continues

CHINA INDUSTRIAL TECH 3Q26 Robot Automation Landscape Analyzer: How are market shares shifting?

CHINA CONSUMER STAPLES Pork: 3Q26 Earnings review: Overseas headwinds to persist; eyes on hog cycle and shareholder returns; Buy WH Group

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

CHINA NEW ENERGY VEHICLE WEEKLY CHARTBOOK: 2026 Week 43-Weekly order +9% -28% wow yoy driven by BYD flash-charging model launches, LCE price -8% wow

South Korea Technology: Semiconductors-Memory: TrendForce memory expert session reaffirming strong 2027 DRAM HBM outlook