26 September 2024 | 11:25PM HKT _ Anta Sports Products (2020.HK): Consumer Discretionary Tour Takeaways: Super Anta store tour with management; Buy (on CL) Post our China Conference 2024, as part of our on-site Consumer Discretionary Tour on Sep 23-26, we visited a Super Anta store in Longgang Universiade Center in the suburb of Shenzhen, and met Mr. Tsui Yeung (CEO of the Performance Sports Group which mainly incl Anta core brand), Mrs. Suki Wong (Senior ESG and IR Director) and the IR team. Key takeaways: ...

_ 1 October 2024 | 6:25PM EDT USA: GS Economic Indicators Update (Rindels) | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------| | | | | Please find an update of our proprietary economic indicators below. The data behind | Jan Hatzius | | these exhibits can be downloaded here. Inte ...

1 October 2024 | 4:14PM CST _ China Real Estate Rebound not reversal, fiscal policy key to watch In the evening of Sep-29/30, Shanghai, Guangzhou, Shenzhen and Beijing governments announced easing measures (Exhibit 1). We think the timing of these policy easing measures in T1 cities came in line with market expectation post central authorities' supportive stance to the property sector, though the magnitude of policy easing against market expectation was slightly divergent (Guangzhou/Shenzhen in line and Bei ...

30 September 2024 | 9:01PM EDT _ US Autos & Industrial Tech Platforms & Power: driving more sustainable profitability; Upgrade F to Buy We believe that the key to success in the automotive industry will increasingly come from mastering both the platform and power aspects of vehicles, including for electric and hybrid vehicles. And this platform and power theme extends beyond autos to broadly incorporate industrial and technology infrastructure. What do we mean by platforms & power? n Platforms: By platforms ...

_ 29 September 2024 | 7:06PM EDT Oil Comment: Q&A on OPEC Supply, the Middle East, and China Stimulus n Oil prices are down about 3% over the past week despite rising geopolitical tensions in the Middle East and despite China stimulus. We believe that this price action reflects that the geopolitical risk premium remains limited and market expectations of potentially higher oil supply following press reports about Libya and Saudi Arabia. To be clear, neither report has changed our base case for supply. n We ...

_ 30 September 2024 | 4:09PM BST Precious Analyst Nowcasting 'Secret' Gold Buyers; Raising our Gold Price Forecast n We raise our gold price forecast from $2,700/toz to $2,900/toz for early 2025 for two reasons. First, our economists now look for faster declines in short-term interest rates in the West and China, and we recently showed that the gold market doesn't fully price in the rates boost to Western ETF holdings backed by physical gold yet, which tends to be gradual. Second, our new nowcast shows that ...

27 September 2024 | 4:06PM EDT _ Americas Technology: Internet: Updating Our Top 10 Industry Themes & Key Coverage Sub-Sector Debates As we enter the last quarter of 2024, we take the opportunity to refresh our top 10 Internet industry themes for the next 12 months. While we refresh our themes with industry data around end demand trends, forward forecasts and key learnings from Q2'24 (link) and our recently concluded 2024 Communacopia +Technology Conference (link), we make no changes to the actual underlyin ...

29 September 2024 | 6:12PM HKT _ Greater China Semis: August: IC production +18% YoY; IC import volume +15% YoY | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------| | | Allen Chang +852-2978-2930 \| allen.k.chang@gs.com Goldman Sachs (Asia) L.L.C. | | | Verena Je ...

26 September 2024 | 7:57AM HKT _ China eCommerce: Internet Trip expert session takeaways: Focuses on de-minimis exemption changes; ecosystem of Temu with its merchants We hosted an expert session on cross-border eCommerce with investors on Sep 25 as part of our China Internet Trip, where we invited Mr. Jiale Wang, General Manager of China Region at Acquco (an eCommerce merchant) to share his thoughts on Temu. Key topics discussed include 1) Potential impact from the changes in the de-minimis exemption on cr ...

27 September 2024 | 11:55AM BST _ Ferrous Tracker: Iron Ore Rallies On Stimulus Announcements, But Fundamentals Remain Bearish | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------| | | | | The 62%Fe iron ore index has ...