In today’s briefing:
- Good Morning Japan | Markets Hear “RECESSION”
- Anatomy Of A Semiconductor Downturn
- Heard on the Bund – China TMT and Consumer Bi-Weekly
Good Morning Japan | Markets Hear “RECESSION”
- OVERSEAS: Fed Pivots – Powell unleashes his inner VOLCKER with hawkish comments; Rates fall ; USD falls; Equities on recession fears; GS to cuts bonuses; Massive Nuclear Fusion breakthrough
- JAPAN: NKY Futs -0.9% vs Cash; USDJPY ¥135.4 – stable post Fed move; BOJ review in 2023- wages key; Struggles in financings Defense spending; JP companies ramping Darbonization spending.
- DAILY NUGGET: We look at why Nuclear Fusion matters in light of the recent breakthrough. This is a BIG DEAL.
Anatomy Of A Semiconductor Downturn
- The origins of the current semiconductor downturn can be traced back to last May.
- That’s when the leading PC OEMs posted their first quarter results, and in some cases, their second quarter outlook.
- For some context, it is well understood that the pandemic roused the slumbering PC market to an extraordinary degree after the initial shock waves reverberated around the globe in Q1 2020.
Heard on the Bund – China TMT and Consumer Bi-Weekly
- IQIYI DAU surpassed 100 million for the first time since 2020
- Recovering China advertising market and industry’ optimistic outlook for 2023
- COVID infection rates in China, third growth driver of Xiabuxiabu
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