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According to The Wall Street Journal, Kalshi plans to seek regulatory approval to offer regulated perpetual futures linked to stocks such as Tesla, Apple, and Nvidia.Tesla (TSLA.O): Model Y Performance All-Wheel Drive version starts at 369,000 yuan.On September 11th, Futures News reported that data released by the China Futures Association on September 10th showed that, calculated unilaterally, the national futures market saw a trading volume of 1.087 billion lots and a turnover of 85.04 trillion yuan in August, representing year-on-year increases of 29.05% and 30.67%, respectively. Looking at the first eight months, the national futures markets cumulative trading volume reached 7.194 billion lots, with a cumulative turnover of 654.02 trillion yuan, representing year-on-year increases of 20.36% and 37.37%, respectively. 1. Wei Gang, chief economist at Hengtai Futures, told reporters that the August futures market saw a "simultaneous increase in both volume and price," mainly driven by three factors: First, both volume and price increased in non-ferrous metals and precious metals. Second, the crude oil and energy sectors saw a significant increase in trading volume due to geopolitical factors. Third, the chemical and agricultural futures sectors showed a strong trend and high trading activity due to cost transmission and supply-demand disturbances. Hongyuan Futures analyst Wang Jiangnan stated that, judging from the performance of various commodities, commodity futures were generally strong in August, with most major contracts closing higher. Coking coal saw a cumulative increase of over 45% in August, the energy and chemical sector generally rose, and the precious metals sector also strengthened. Looking ahead to September, Wang Jiangnan believes that the Federal Reserves monetary policy expectations are a key macroeconomic variable, with the probability of a September rate hike rising to 60%, which will suppress the performance of precious metals and risk assets. The ferrous metals sector is entering its traditional peak season, and actual demand will be the main factor determining whether the sectors performance can be sustained. Non-ferrous metals may exhibit a pattern of "structural recovery and product differentiation," maintaining high-level fluctuations in the short term. Wei Gang added that, in addition to the Federal Reserves monetary policy path, the evolution of geopolitical conflicts in the Middle East is also an important factor affecting futures market trading.On September 11th, Edmond de Rothschild Asset Management believes that the recent rise in the yen signals a broader correction of the currencys long-term undervaluation. Michael Nizad, the firms head of strategy, wrote that for many years, the yens movements have been primarily driven by the US-Japan interest rate differential and its role as a funding currency for global carry trades; now, the yen is beginning to trade more based on its own fundamentals. He wrote, "The yen may be beginning to trade as a fundamentally-driven currency again. Any pullbacks in yen cross rates should increasingly be seen as opportunities to rebuild or increase long yen positions."The Euro Stoxx 50 index fell 0.3%, German DAX futures fell 0.3%, and UK FTSE futures fell 0.1%.

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%.


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