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NY Fed's Perli: Future Fed reserve management bill buying driven by market conditions.

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NY Fed's Perli: Future Fed reserve management bill buying driven by market conditions.

Poll: Fed to cut fed funds rate at least once this year, said 48 of 101 economists (71 of 103 in April poll)

Poll: Fed to cut fed funds rate at least once this year, said 48 of 101 economists (71 of 103 in April poll)

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CICC reported that SMIC's Q1 results and Q2 guidance met expectations, with Q1 revenue at USD2.505 billion, up 11% YoY. Gross margin was 20.1%. For Q2, revenue is expected to grow 14-16% QoQ, with a gross margin of 20-22%. The report highlights SMIC's capacity utilization at 93.1% and notes benefits from localized production demand amid AI supply constraints. The broker maintains an Outperform rating with a target price of HKD100.

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CICC: SMIC  1Q Results and 2Q Guidance In Line; Deeply Benefiting from Localized Production Demand

Kevin Warsh has been confirmed as the new chairman of the US Federal Reserve. While he asserts commitment to the Fed's independence, concerns arise about potential government influence. Warsh has criticized the Fed's interest rate strategies, reflecting some of President Trump's views, which may impact bond investors.

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What bond investors should know about a Warsh-led Federal Reserve

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JPMorgan upgraded SMIC to Neutral and raised its target price to HKD67, citing a better-than-expected 1Q gross margin and strong 2Q revenue guidance. Despite anticipated consumer electronics demand weakening in 2H, the bank increased its 2026 and 2027 earnings forecasts by about 15%. The upgrade reflects broader price increases, although risks remain from potential declines in consumer demand.

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JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM Upgrades SMIC  to Neutral, Raises TP to HKD67

JPMorgan upgraded Semiconductor Manufacturing International Corporation's (SMIC) investment rating from 'underweight' to 'neutral' following improved first-quarter profit margins due to selective price increases. The second-quarter revenue is expected to grow by 14% to 16%, driven by AI and localization demand. However, potential weakening in consumer electronics demand in the second half poses risks. The target price was raised from HKD 57 to HKD 67, reflecting a price-to-book ratio of 2.8 times.

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JPMorgan Upgrades SMIC Rating Amid Improved Profit Margins

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Treasury yields have surged to multi-year highs, with the 30-year yield exceeding 5.1% and the 10-year at 4.6%, driven by inflation concerns. Futures markets indicate a strong likelihood of a Fed rate hike by early 2027, potentially as soon as December. These higher yields could increase mortgage and corporate borrowing costs, negatively impact stocks, and slow economic growth.

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Bond yields hit highs as Fed hike bets surge

One result of the massive monetary expansion was an upsurge in inflation, to a peak of over 9% in 2022—which the Fed infamously termed “transitory.”

Grading Powell’s Fed: Good for stocks, bad for affordability

SMIC reports an increase in foreign orders as overseas clients shift production to China due to rising AI demand, which is straining capacity at foreign foundries. The company has upgraded its 2026 operational forecast in response to strong AI-driven demand and domestic substitution. However, U.S. export controls on chips continue to pose challenges, particularly for advanced AI chip sales to China.

SMIC sees foreign orders rise as AI boom shifts capacity

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DBS analyst Jim Hin Kwong Au has maintained a Buy rating for Semiconductor Manufacturing International (0981) with a price target of HK$87.40. The analyst, known for a 30.1% average return and 69.23% success rate, is part of a Strong Buy consensus for the stock, which has an average price target of HK$89.65.

- A report from Jim Hin Kwong Au at DBS maintains a Buy rating on Semiconductor Manufacturing International with a price target of HK$87.40.  
- Au is a 5-star analyst with an average return of 30.1% and a 69.23% success rate, focusing on the Technology sector.  
- The general analyst consensus for Semiconductor Manufacturing International indicates a Strong Buy rating with an average price target of HK$89.65.

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New Buy Rating for Semiconductor Manufacturing International (0981), the Technology Giant

XI2CSOPHSTECH(07552.HK)

NY Fed's Perli: Future Fed reserve management bill buying driven by market conditions.

Poll: Fed to cut fed funds rate at least once this year, said 48 of 101 economists (71 of 103 in April poll)

CICC: SMIC 1Q Results and 2Q Guidance In Line; Deeply Benefiting from Localized Production Demand

What bond investors should know about a Warsh-led Federal Reserve

JPM Upgrades SMIC to Neutral, Raises TP to HKD67

JPMorgan Upgrades SMIC Rating Amid Improved Profit Margins

Bond yields hit highs as Fed hike bets surge

Grading Powell’s Fed: Good for stocks, bad for affordability

SMIC sees foreign orders rise as AI boom shifts capacity

New Buy Rating for Semiconductor Manufacturing International (0981), the Technology Giant