13 August 2024 | 11:07AM EDT Americas Agriculture: Proposed changes in LCFS Late Monday (8/12), the California Air Resources Board (CARB) proposed amendments to the Low Carbon Fuel Standard (LCFS), subject to a public hearing & vote on November 8th. This follows prior proposal amendments issued in December 2023 that had been scheduled for hearing & vote in February 2024 that was ultimately postponed. Key highlights of proposed changes 1) 9% step-down in 2025 CI reduction. CARB is proposing to modify the nea ...

Global Investme GOAL: Asset Allocation Summertime Sadness; Neutral 3m and looking t August 2024 Christian Mueller-Glissmann, CFA Andrea Ferrario Global Strategist Global Strategist Goldman Sachs International Goldman Sachs International 44-20-7774-1714 chrisban musiler-gliss 44-20 7552-4353 androa.forrado@gs.se Investors should consider this report as only at single factor in making that investment decision. For Rog AC certification and other important disclosures; so or go to www.gs.com/research/hedge.html ...

9 August 2024 | 11:07AM HKT China: CPI inflation increased in July on higher food prices Bottom line: China's headline CPI inflation increased to +0.5% yoy in July from +0.2% yoy in June, while headline PPI inflation was flat at -0.8% yoy in July. Food price inflation rose across the board in July due to a decrease in supply from adverse weather. Both non-food price inflation and core inflation edged down in July, indicating continued weakness of domestic demand. PPI inflation in upstream sectors rose modes ...

9 August 2024 | 2:58PM EDT Energy, Utilities & Mining Pulse: Investors Asking: How to Navigate Summer Volatility? The past two weeks have been highly volatile in the markets and across our Natural Resources coverage. As such, we ask our senior analyst team to reflect on where investors are positioned and general sentiment in their respective sector.The team additionally highlights a stock that has underperformed their expectations where they would be more positive from here. We additionally ask the team to ...

11 August 2024 | 7:15PM HKT _ Navigating China Internet: Key investor focuses into Tencent & Alibaba prints & what to watch out for With Tencent and Alibaba kicking off the China Internet results season amongst the mega-caps on Weds and Thurs (after HK market close) respectively, we expect broadly in-line 2Q prints, where we estimate Tencent adj. operating profit to grow 33% yoy on accelerating growth and Alibaba's group EBITA to decline 11% yoy on core businesses investments (mostly in-line with sell-side ...

9 August 2024 | 8:07PM EDT _ Healthcare Pulse: Reflecting On 2Q24 Earnings Amid An Uncertain Macro... Investor sentiment; market color; sector themes; charts to | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------- ...

9 August 2024 | 10:10AM BST _ Ferrous Tracker: Drop in Steel Output Hits Iron Ore Consumption n The Platts 62%Fe iron ore index (CFR China) returned to $99.3/t yesterday (8th August), down 4% from last Friday. n With little change in both supply and stocks, we view declining Chinese iron ore consumption as being the key factor driving prices lower. Mysteel's sample of 247 steel mills showed a 2% WoW drop in consumption of imported iron ore, reflecting a similar decline in hot metal output. n Meanwhile, flat ...

12 August 2024 | 6:31AM HKT China: Three things in China Three quick highlights from China: ■ Nuances of the July trade data: On the surface, China's July exports missed expectations (7.0% yoy vs. 9.5% Bloomberg consensus) and China's July imports surprised to the upside (7.2% yoy vs. 3.2% Bloomberg consensus). However, the import strength may be related to more working days, and the export miss does not necessarily imply lower export volume. In June, export value increased 8.6% yoy but export volume jumped ...

13 August 2024 | 10:31AM HKT 2131d4eaf4cb4d50b1d51c8af07b64b4 Wistron (3231.TW): Better 3Q24 ahead on AI servers ramp up, PCs and general servers recovery; Product mix and larger scale to support GM We remain positive on Wistron post 2Q24 results and July revenues, which are both in line with our estimates. We expect a better 3Q24 ahead with stronger seasonality, PCs and general servers recovery on new product cycle, and AI servers ramp up on better GPU supply. Although there are still some uncertainties in ...

13 August 2024 | 10:18AM HKT Wiwynn (6669.TW): 2024 Nl +79% YoY, in line; ASIC Servers and General Servers to drive growth in 2H24; Buy Wiwynn delivered in-line 2Q24 results, sustaining strong YoY growth on low base last year (Read more in our results first take). We expect sequential top-line growth in 3Q/4Q24E, up 82%/ 68% YoY, with gross margin at 9.5%, above its historical level of ~8% on continuous NRE (non-recurring engineering) charges on new AI server projects. We expect ASIC (Application Specific I ...