The 720: Samsung Electronics and Asian Market Update

Goldman Sachs maintains a Buy rating on Samsung Electronics amid tight memory supply and AI demand. Meanwhile, it remains cautious on Asian rates due to energy-driven inflation and downgrades WHA Corp to Sell.

Key Takeaways

• 1.Samsung Electronics maintains a positive memory outlook with significant capex increases planned for memory and foundry segments.
• 2.China's April economic data miss is viewed as less severe than headline numbers suggest, largely due to energy shocks and policy-driven distortions.
• 3.Bearish sentiment prevails on Asian rates in the near term as central banks may join tightening cycles due to energy shocks and inflation.

Table of Contents

• In Focus | Samsung Electronics
• Results | Netease, Tongcheng Travel, Full Truck Alliance
• Themes in Play | Mitsui Kinzoku, Taiyo Yuden, Montage, YZJ, JB Hi-Fi
• New | WHA Corp
• Asia Macro | China Matters, Asian Rates
• Global Markets Daily
• Graphic Language
• GS Events
• Disclosure Appendix

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