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Under pressure from the Republican Party, Morgan Stanley (MS.US) follows Wall Street's lead in withdrawing from the climate organization.
Morgan Stanley (MS.US) announced on Thursday that it will withdraw from the Net Zero Banking Alliance (NZBA), which aims to achieve net zero carbon emissions.
Evercore Maintains Goldman Sachs(GS.US) With Buy Rating, Raises Target Price to $623
Wells Fargo Maintains Goldman Sachs(GS.US) With Buy Rating, Maintains Target Price $680
Wells Fargo Keeps Their Buy Rating on Goldman Sachs Group (GS)
Goldman Sachs: Macau's gambling revenue last month met expectations. Bullish on Sands China and GALAXY ENT.
Goldman Sachs published a research report stating that Macau's gross gaming revenue decreased by 2% year-on-year last month, reaching 80% of the pre-epidemic level in 2019, which aligns with the expectations of the bank and the market. In the last two weeks of last month, the daily average gross gaming revenue was 0.603 billion Macau patacas, higher than the 0.571 billion Macau patacas in the first 14 days of the month. The gross gaming revenue from the mass market remains steadily at 1.1 times the pre-epidemic level. The report also mentioned that during a senior inspection visit to Macau, it was suggested to promote economic diversification in Macau, better coordinate development in Hengqin with Guangdong Province, and integrate with the Greater Bay Area. The bank maintains its expectation that this year Macau's gross gaming revenue will rise by 8% year-on-year, based on a reduction in cost pressures caused by inflation and competition, leading to more incremental revenue growth.
Goldman Sachs: Maintains HUA HONG SEMI "Buy" rating with a Target Price of HKD 31.3.
Goldman Sachs released a research report stating that it maintains a "Buy" rating on HUA HONG SEMI (01347), with a Target Price of HKD 31.3. Although the demand for the company's products such as PMIC, CIS, logic, and RF products is strong, the growth in terminal markets like Consumer Electronics and Autos remains moderate, and the recovery of Microcontroller Units (MCUs) and power discrete devices may take more time. With demand gradually recovering, Goldman Sachs maintains a positive long-term outlook on HUA HONG due to the increasing preference of local customers for HUA HONG's specialized technology, which is present in Consumer Electronics, computers, electric vehicles, New energy Fund, and industrial fields.
Goldman Sachs: Maintains ASMPT "Buy" rating, Target Price lowered to 100 Hong Kong dollars.
Goldman Sachs released a research report stating that it has lowered the Target Price of ASMPT (00522) by 7%, from HKD 108 to HKD 100, maintaining a "Buy" rating. The main reason is the growth in demand for advanced packaging tools accompanied by AI (Artificial Intelligence) / High-Performance Computer Systems (HPC) and High Bandwidth Memory (HBM). Goldman Sachs has raised its earnings forecast for the company by 8% for 2024, mainly considering multiple major factors, including exchange rate losses: the appreciation of the US dollar in the fourth quarter (the company incurred an exchange rate loss of HKD 0.108 billion, causing net profit in the third quarter to drop directly to HKD 26 million). Goldman Sachs has revised its forecasts for 2025-2026.
The central parity rate of the renminbi against the US dollar is reported at 7.1879, up by 5 points.
On January 2, the central parity rate of the RMB against the USD was reported at 7.1879, up by 5 points. In 2025, the "strong dollar" may become the main theme of the global Forex market. As Trump prepares to take office as president, the market's concern regarding the potential policy impacts of Trump's new administration is intensifying. As a result, Emerging Markets MMF have experienced varying degrees of sell-offs, with the Vietnamese dong exchange rate already hitting a historical low. Analysis indicates that the Vietnamese dong against the USD may continue to weaken in the future, and the Vietnamese central bank may increase the supply of USD to stabilize market fluctuations. The depreciation of currencies such as the Korean won, Brazilian real, and Argentine peso has also been significant.
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The founder of Citadel predicts that the golden age of multi-strategy Funds is over, but investors offer a contrary answer.
Ken Griffin, founder of Citadel, stated last month that the era of prosperity for multi-strategy hedge funds has ended, which is only partly true. Indeed, the Asset Management scale of multi-strategy Funds has decreased compared to last year, partly due to some Funds, including Citadel, returning billions of dollars in profits to clients. However, these Funds are still at their peak, and several of them can even rank among the largest hedge Funds globally. The market demand for leading Funds remains strong, and not only have the performance improved this year, but the competition for talent continues as well. Griffin indicated that smaller multi-strategy Funds are expected to undergo some change.
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