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Due to the Labor Day holiday in the United States, CBOT agricultural futures, ICE raw sugar, and cotton futures will be closed for one day; CME Groups precious metals and U.S. crude oil futures contracts will end early at 02:30 Beijing time on the 8th; ICE Brent crude oil futures contracts will end early at 01:30 Beijing time on the 8th.ANZ Senior Economist Jasmine Zheng: Therefore, we expect the number of job advertisements to gradually decline. However, given the resilience of the sector, we expect the rise in the unemployment rate to be moderate.The Peoples Bank of China (PBOC) announced today that it conducted 500 million yuan of 7-day reverse repurchase operations, with a bid amount of 500 million yuan and a winning bid amount of 500 million yuan. The operation rate was 1.40%, unchanged from the previous rate.September 7th - Over the next three days, cold air will continue to affect northern China, bringing heavy rainfall eastward. The Central Meteorological Observatory forecasts that today, parts of eastern Qinghai, central and southern Gansu, central and northern Shaanxi, central and northern Shanxi, central and western Hebei, western and southern Beijing, western Sichuan Basin, northeastern Heilongjiang, southwestern Yunnan, and southeastern Tibet will experience moderate to heavy rain, with some areas in central Shanxi and western Hebei experiencing torrential rain. In the coming days, the cold air will gradually move eastward and southward, bringing not only rainfall to northern China but also a significant drop in temperature from north to south. The temperature drop in northern China will be concentrated from today to the 9th, while southern China will also experience a cooling trend from the 9th to the 10th.On September 7th, the General Office of the Chengdu Municipal Committee of the Communist Party of China and the General Office of the Chengdu Municipal Peoples Government released the "Implementation Opinions on Optimizing the Ecosystem for Scientific and Technological Innovation." The development goal is to simultaneously promote scientific and technological innovation and the transformation of scientific and technological achievements, focusing on key aspects such as cultivating key players, empowering platforms, transforming achievements, and providing essential support. This involves strengthening organized innovation, conducting systematic matchmaking, promoting high-quality transformation, and building an innovation ecosystem characterized by "active key players, well-developed platforms, smooth transformation, concentrated resources, and inclusive systems," thus forming a pattern where scientific and technological innovation leads industrial innovation. By 2028, the number of national and provincial specialized and innovative enterprises will significantly increase, the R&D intensity of the whole society will reach 4.3%, and the number of high-value invention patents per 10,000 people will reach 30.

Samsung Elec expects mobile and PC chip demand to decrease in the second quarter

Aria Thomas

Jul 28, 2022 11:15

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Due to robust sales of server memory chips, Samsung Electronics Co., Ltd. reported a 12 percent increase in quarterly earnings on Thursday. As macroeconomic uncertainty lingers, the business forecasts that demand for mobile and PC processors will continue to fall.


According to the world's largest manufacturer of memory chips for cell phones, operating profit increased to 14.1 trillion won ($10.8 billion) for the quarter ending June 30, up from 12.57 trillion won a year ago. This is the company's best profit for any quarter since 2014, and its highest profit for the second quarter since 2018.


In addition, the company's earnings exceeded its own projections of 14 trillion won.


The rise in revenue was 21%, amounting to 77,2 trillion won.


A strong dollar, which reached a 20-year high, also aided chip earnings, increasing Samsung (KS:005930 operational profit )'s by around 1.3 trillion won from the previous quarter.


The majority of Samsung's chip sales are handled in U.S. dollars, but the business reports profitability in Korean won; hence, a strong U.S. dollar boosts earnings from semiconductors.