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On April 3rd, Futures News reported that silver prices have been trending downwards and rebounding since March. As of April 2nd, the domestic spot price of #1 silver was 18,150 yuan/kg, a cumulative decrease of 25.7% compared to the beginning of March. The main driver was negative news, specifically the turmoil in the Middle East, which led the market to price in expectations of subsequent energy supply tightening, thus increasing concerns about inflation. The Federal Reserve shifted its stance from one rate cut this year to the possibility of a rate hike, putting pressure on silver. However, Powells subsequent statement suggesting maintaining interest rates and the release of some conciliatory signals between the US and Iran led to a correction in market expectations for rate cuts. Domestically, with the export tax rebate period for photovoltaic modules approaching, the downstream rush to produce and export has largely ended. Coupled with the weakness in new energy vehicles and price volatility weakening market investment demand, the fundamentals are under overall pressure. Going forward, continued attention needs to be paid to the direction of the Middle East situation and its impact on the Federal Reserves interest rate path. Silver volatility may increase, and it is recommended to invest cautiously based on ones own risk tolerance.On April 3rd, Tencent Cloud officially launched its "Lobster" memory service—TencentDB Agent Memory—adding a long-term memory layer to OpenClaw. Currently, Agent Memory is seamlessly integrated into Tencent Cloud products such as Lighthouse and ClawPro as a plugin, and can be activated for free with a single click.On April 3, Hong Leong Investment Bank, in a report, pointed out that the Malaysian economy may be under pressure due to temporary energy supply disruptions caused by the conflict with Iran, and therefore lowered its 2026 GDP growth forecast from 4.7% to 4.5%. Although Malaysian ships were recently granted free passage through the Strait of Hormuz, analysts believe that the risk of oil supply shortages cannot be completely ignored. However, strong exports of electronic products and continued consumer demand will support growth. Due to rising commodity costs and adverse weather conditions, RON97 fuel oil, unsubsidized diesel, electricity, and food are facing upward price pressure, and Hong Leong Investment Bank raised its 2026 CPI growth forecast from 1.7% to 2.0%. Given the rising inflation risks and slowing growth prospects, analysts added that the Central Bank of Malaysia is likely to maintain the policy rate at 2.75% when assessing the impact of the conflict.On April 3rd, the Wuhan Housing Provident Fund Management Center released its interpretation of the policy on optimizing the use of housing provident funds, document number Wu Gong Zhong Gui [2026] No. 2. Regarding expanding the scope of inter-city loans, the eligibility for inter-city housing provident fund loans has been expanded to include employees contributing to the fund in cities across the country, and the restriction that borrowers (including their spouses) must have Wuhan household registration has been removed. The eligibility for commercial-to-provident fund loan conversions has also been expanded to include employees contributing to the fund in cities across the country. The determination of the number of properties eligible for loans has been adjusted. From October 1, 2025 to June 30, 2027, if a contributing family sells its only home and applies for a housing provident fund loan to purchase a newly built or existing home in Wuhan, the citys first-home housing provident fund loan policy will apply; if a family sells one of its two homes and applies for a housing provident fund loan to purchase a newly built or existing home in Wuhan, the citys second-home housing provident fund loan policy will apply.April 3 - According to a CNN report on April 2, US intelligence assessments indicate that despite five weeks of US-Israeli military action against Iran, approximately half of Irans missile launchers remain intact, and it possesses thousands of suicide drones. The report, citing sources, states that the main reason Irans missile launchers have not been severely damaged is their ability to be moved underground. Furthermore, Irans use of mobile platforms for "hit-and-run" tactics makes tracking these launchers extremely difficult. Sources say that in addition to existing missile launchers, Iran still maintains a large stockpile of missiles. Moreover, the operational capability of Irans coastal cruise missiles is likely largely intact.

Samsung Elec announces a higher Q2 profit owing to solid server-chip demand

Charlie Brooks

Jul 07, 2022 11:18


Samsung Electronics (OTC:SSNLF) Co Ltd announced its greatest April-through-June profit since 2018 with an 11 percent year-over-year gain, as demand for its memory chips from server customers more than offset decreased sales to smartphone manufacturers due to inflation.


The world's leading memory chip and smartphone manufacturer stated Thursday that its second-quarter operating profit grew to 14 trillion won ($10.73 billion) from 12.57 trillion won a year earlier.


It was quite close to Refinitiv's SmartEstimate of 14,45 trillion won.


In agreement with market estimates, Samsung (KS:005930) announced in a short earnings report that sales likely climbed by 21 percent year-over-year to 77 trillion won.


This month, Samsung will provide detailed financial results.


Large U.S. IT companies that rely heavily on data center services continued to acquire chips to meet cloud demand, insulating Samsung's chip revenue from a potential client oversupply after two years of high demand.


According to the data source TrendForce, the price of some DRAM chips, which are utilized in electronic devices and servers, decreased by around 12 percent last month compared to the same time period one year prior. As demand for smartphones and laptops decreases, analysts believe that prices will continue to fall.


"Server DRAM is currently the only feasible sales channel... As a result, Korean manufacturers were the first to signal a willingness to contemplate a quarterly price cut of more than 5 percent (for server goods) "DRAMS," according to TrendForce.


According to TrendForce, the costs of NAND Flash chips, which are used in electronic devices for data storage, are projected to decline by as much as 5 percent between July and September compared to the previous quarter.


Following two profitable pandemic years in which customers purchased devices for remote work, chipmakers throughout the globe are observing a fall in demand.


According to analysts, rising prices, worries of a dramatic market collapse, the Ukraine war, and China's COVID-19 lockdowns have hampered smartphone sales, leaving server chip demand as the only bright light.


During morning trade, the price of Samsung's stock jumped by 0.9%.