Daily Brief Thematic (Sector/Industry): Anatomy Of A Semiconductor Downturn and more

In today’s briefing:

Anatomy Of A Semiconductor Downturn
Good Morning Japan |Dot Plot Says 5.1%; Tech Leads Gains; NUGGET: Japan’s Hay Fever Hell-Few Winners
Pagcor’s New Priority to Sell Its Casinos Could Be a Catalyst for Key Sector Stocks

Anatomy Of A Semiconductor Downturn

The current semiconductor downturn is largely attributable to the reversion of PC and Smartphone unit shipments to their pre-pandemic norms
There are good reasons to believe that the trough for PC unit shipments will be Q1 2023.
Server shipments will decline sequentially in H1 and this may further prolong the impact on memory players, Intel and to a lesser extent, AMD & NVIDIA

OVERSEAS. SPX ekes out +0.3% gains; Only Tech & Telcos Positive while other 9 sectors in the Red; Fed’s dot plot says 5.1%; Hinderburg takes aim at BLOCK (Square)
JAPAN. NKY Futs -1.2% vs Cash; USDJPY 130.9 as US Rate hike fears wane; Japan ends export restrictions on semi materials to S. Korea; Softbank’s ARM to change pricing rules
NUGGET. Japan’s Hay Fever Hell: Few Winners, Many Losers. Winners: drugstores, pharmacists, e-commerce; Losers: everyone related to Outdoor activities !

The government’s policy shift to sell its casinos is the latest in a long line of flip flops regarding the future of its presence in the industry.
The timing is right. Philippine casinos are on a post-pandemic run even before the return of Chine tourism. Bloomberry, operators of Manila’s Solaire has scored a record quarter.
Leading possibility beside Bloomberry is Las Vegas Sands long on the hunt to expand its Asian footprin to a third nation.

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