As one of the world's most important semiconductor powers, South Korea took the lead in releasing PMI data for July. Although exports continued to shrink, the performance was already better than market expectations. Among them, the rise in demand for automotive products and semiconductors slowed down the contraction of trade and achieved a trade surplus for 2 consecutive months
Meanwhile, the index of new export orders rose to 50.2%, breaking out of 16 months of continuous contraction, mainly due to a recovery in demand in the Asia-Pacific and European regions? Samsung, one of the world's technology leaders, recently announced Q2 results. Although revenue and net profit continued to narrow due to the impact of the general environment, performance increased 5% month-on-month, and the chip business also experienced a reversal phenomenon, with revenue rising 7% month-on-month, meaning that the consumer electronics industry is emerging from a sluggish cycle
Coupled with chip giants such as Intel and AMD all delivering performance that exceeded expectations, many investment banks are optimistic about demand growth in the second half of the year and expect the semiconductor industry to be out of the worst situation. With the support of these data, I believe that investors' willingness to hold technology companies will definitely be better than in the first half of the year. In particular, the performance of foreign investors buying back horse stocks seems to be fully prepared for the next rebound
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The new governor (Chris Minns), located in New South Wales, Australia, said in an interview a few days ago that the government of the former DPRK had excessively relaxed the state's current construction of the Sydney Metro West Line project in Australia. Cost estimates have soared from the initial 16 billion Australian dollars to 25 billion Australian dollars, which has already exceeded the originally allocated budget, so it is intended to put the plan on hold, and it is not ruled out that it will be cancelled
However, the governor publicly stated two days later that it is currently only in the discussion stage, including how to reduce the budget, shorten or replace routes, and expand development value, etc. At the same time, he assured reporters that “if this plan is cancelled, you can cut off my head”
According to the contract, Gammuda was the general contractor for the project and received a contract worth 2.16 billion Australian dollars on March 1, 2022. Construction in April of the same year was also the group's most valuable hand order. As of the latest quarterly report, the Group has completed 26% of its progress. If it is cancelled, then the value of losses will exceed 1.5 billion dollars, which is 4.53 billion in Malaysian dollars
As a result, Gamuda has been somewhat shaken in the past few days since the news was announced. Today, it even fell below a new low in a month, and once pulled back close to 7.5%. However, to me, investors seem to have overdigested this message. In particular, the governor has stated that he will not rashly cancel all projects, urging the public to reassure the public
Coupled with the imminent opening of the MRT3 tender, the high-speed rail agency reconvening the screening process for the Longxin High Speed Rail, and the imminent arrival of the 2024 budget, I think Gamuda is still...