Market Overview - U.S. stock markets are closed for Thanksgiving, with Dow Jones, S&P 500, and Nasdaq futures showing little change [1] - The stock market rally has seen a solid broad advance, with major indexes moving above their 50-day moving averages [1] Sector Performance - Leading stocks, particularly in the semiconductor, gold, and other metal sectors, have performed well [1] Notable Stocks - ASML, Pan American Silver, and Comstock Resources are highlighted as strong performers in the recent market action [2]

Investors should take SoftBank's moves with a grain of salt.Japan-based SoftBank (SFTB.Y +0.00%) is one of the world's largest investment holding companies. It has hundreds of notable companies in its portfolio, including TikTok's parent company ByteDance, plus DoorDash, Fanatics, Chime, IonQ, and until recently, Nvidia (NVDA 2.56%).SoftBank has dabbled in Nvidia during two different phases. It first invested in the company in 2017, buying around $4 billion worth of shares before selling its stake in 2019, ...

Market Overview - Dow Jones futures, S&P 500 futures, and Nasdaq futures experienced a slight rise early Wednesday following a strong market rally on Tuesday, where major indexes and small-cap Russell 2000 regained their 50-day moving averages [1] - The 10-year Treasury yield decreased to the significant 4% level, indicating weak economic conditions [1] Company Performance - Nvidia (NVDA) and Advanced Micro Devices (AMD) showed weakness during the rally, yet the overall market managed to shrug off these declines [1] - Smaller issues contributed significantly to the market rally, despite the challenges faced by larger tech companies [2] Related Developments - The stock market saw a broad jump as bets on a Federal Reserve rate cut increased, raising questions about the S&P 500 potentially reaching 8,000 next year [2] - Companies like Broadcom surged by 11%, leading a group of 26 new stocks onto the best-performing lists [4] - Google is reportedly in talks to offer its AI chips to Meta, while Nvidia and AMD faced declines [4]

We'll start with the AI trade. Another move higher for Alphabet and reports of a massive chip deal with Meta. Dear Dbosa has it all in today's tech check which leads us off as we're glued to this move.Dearra. >> Yeah. So Sarah, here's why this deal matters.It's because Meta is one of the biggest GPU buyers in the world. So if it is exploring billions of dollars worth of TPUs, Google's custom chips. That is technical validation.It's also a major win for Google Cloud because Meta would have to run every TPU i ...

Group 1 - Futures are wavering as the market rebound faces a critical test, with S&P 500 futures remaining flat [1][2] - Nvidia and AMD stocks have declined following reports that Google is in talks to offer its AI chips to Meta [1][4] - The upcoming release of retail sales and producer price index data for September is expected to provide the Federal Reserve with outdated information for their policy update on December 10 [1][4] Group 2 - The market is reacting to potential rate cuts, with indexes showing an upward trend amid these expectations [4] - Concerns are rising regarding the AI sector, with warnings about the potential risks associated with AI stocks, particularly in light of Google's competitive advancements [4]

Group 1 - Google is reportedly in talks to sell its AI chips to Meta, indicating a strategic move in the competitive AI chip market [1] - The stock market experienced a strong rise, with major indexes recovering to their 50-day moving averages after previous losses, suggesting a potential rebound in investor sentiment [1] - Alphabet, Google's parent company, continues to perform well, reaching new highs and outperforming other tech giants, which may indicate strong investor confidence in its future prospects [4] Group 2 - Nvidia and AMD stocks have seen declines, reflecting market concerns about their positions in the AI sector amidst increasing competition from companies like Google [4] - The article highlights a growing concern among investors regarding the sustainability of AI stocks, suggesting that the sector may be facing a "show me" moment where companies need to prove their value [4] - Alibaba's stock has received a boost from growth in AI applications, indicating that the company is also capitalizing on the AI trend, which could present investment opportunities [4]

Summary of Key Points from the Conference Call Industry Overview - The focus for 2026 in Asian markets will shift from AI-driven stocks to growth opportunities beyond AI, dividends, and previously overlooked stories in Asia [2][12][14] - Key themes include structural stories in energy self-sufficiency, new technology, financial deepening, and the growth of formal retail in ASEAN [12][14] Company-Specific Insights 1. Harbin Electric (1133 HK) - **Sector**: Electrical Equipment - **Market Cap**: USD 3.648 billion - **Current Price**: HKD 15.53; **Target Price**: HKD 22.00 - **PE Ratio**: 10.7; **PB Ratio**: 1.6; **ROE**: 16.2% - **Key Points**: - Benefiting from China's push for energy self-sufficiency, particularly in coal and nuclear power [16][18] - Expected earnings CAGR of 34% from 2024-2027 [19] - Potential inclusion in Stock Connect in 2026 [19] 2. Horizon Robotics (9660 HK) - **Sector**: Auto Components - **Market Cap**: USD 14.901 billion - **Current Price**: CNY 8.44; **Target Price**: CNY 11.00 - **Key Points**: - Positioned to benefit from the growth of autonomous driving technology [23][25] - Expected revenue CAGR of 64% from 2025-2027 [27] 3. Goldwind Science & Tech (002202 CH) - **Sector**: Electric Utilities - **Market Cap**: USD 8.753 billion - **Current Price**: CNY 15.35; **Target Price**: CNY 20.40 - **Key Points**: - Leading manufacturer of wind turbines with strong demand in emerging markets [30][32] - Expected net profit growth of 58% in 2025 [32] 4. Trip.com Group (TCOM US) - **Sector**: Internet Software & Services - **Market Cap**: USD 48.707 billion - **Current Price**: USD 74.52; **Target Price**: USD 90.00 - **Key Points**: - Dominates China's online travel market with over 50% GTV [39] - Expected revenue growth of 15% CAGR from 2025-2027 [39] 5. BOCHK Holdings (2388 HK) - **Sector**: Commercial Banks - **Market Cap**: USD 54.013 billion - **Current Price**: HKD 39.70; **Target Price**: HKD 45.20 - **Key Points**: - Benefits from increased cross-border opportunities and offers a 5.5% dividend yield [44][46] 6. PB Fintech (POLICYBZ IN) - **Sector**: Internet Software & Services - **Market Cap**: USD 8.999 billion - **Current Price**: INR 1,734.70; **Target Price**: INR 2,250.00 - **Key Points**: - Operates India's largest online insurance marketplace [49] - Expected revenue CAGR of 30% from 2025-2028 [51] 7. Phoenix Mills (PHNX IN) - **Sector**: Real Estate Management & Development - **Market Cap**: USD 6.904 billion - **Current Price**: INR 1,714.80; **Target Price**: INR 2,110.00 - **Key Points**: - Largest mall operator in India, evolving into a mixed-use developer [54][56] 8. E-Mart (139480 KS) - **Sector**: Multiline Retail - **Market Cap**: USD 1.482 billion - **Current Price**: KRW 79,000.00; **Target Price**: KRW 120,000.00 - **Key Points**: - Trading at 0.2x PB, highlighting deep value [59] - Transformation into a multiline retailer with various catalysts for growth [60] 9. E Ink Holdings (8069 TT) - **Sector**: Technology - **Market Cap**: Not specified - **Current Price**: TWD 169.00; **Target Price**: TWD 305.00 - **Key Points**: - Holds over 90% of the global e-paper market and expanding capacity [62] 10. ICTSI (ICT PM) - **Sector**: Transport & Logistics - **Market Cap**: Not specified - **Current Price**: PHP 558.50; **Target Price**: PHP 630.00 - **Key Points**: - Offers growth and yield at attractive valuations [62] 11. City Developments (CIT SP) - **Sector**: Real Estate Management & Development - **Market Cap**: Not specified - **Current Price**: SGD 7.43; **Target Price**: SGD 11.00 - **Key Points**: - Positioned to benefit from a turnaround in Singapore's property sector [62] 12. Sumber Alfaria Trijaya (AMRT IJ) - **Sector**: Retail - **Market Cap**: Not specified - **Current Price**: IDR 1,895.00; **Target Price**: IDR 2,900.00 - **Key Points**: - Expected to benefit from policies boosting consumption in Indonesia [62] Additional Insights - Asian dividends have doubled over the last 20 years, indicating potential for further increases in payout ratios [12] - The report emphasizes the importance of EPS growth for continued market gains, particularly in China [12][14]

Core Insights - The deal is a result of discussions between President Trump and Saudi Arabia's Crown Prince Mohammed bin Salman [1] Group 1 - The agreement signifies a strengthening of ties between the United States and Saudi Arabia [1] - The negotiations highlight the importance of diplomatic relations in facilitating business deals [1]

A restart with you how it did with Peter, right. The market is confronted with AMD's earnings and trying to work out is this them gaining some territory on Nvidia in the accelerator card market or are they getting a boost, particularly in the quarter gone from those legacy business lines. PC processors, CPU for server, Let's just start there.What did you learn from AMD. Yeah, good morning Ed. We're seeing all of that from AMD.And let's start with what the old boring part aimed at the PC cpu's the standard s ...

I wonder if you are optimistic for what could come from a trade deal with the world's second largest economy or if you're in fact worried that the president could somehow mortgage our national security with the idea of dealing around high-end AI chips made by Nvidia. >> Well, Joe, thank you for the chance to be on again. I am gravely concerned that President Trump fails to appreciate what a permanent advantage he would be giving away if he is to greenlight the sale of Nvidia's advanced Blackwell chips. They ...