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Real-time News
Zhipu (02513.HK) is reportedly considering a share placement in Hong Kong to raise billions of US dollars, which could take place as early as next month.On June 24, Yang Sheng, a member of the Party Leadership Group and Deputy Director of the National Medical Products Administration (NMPA), led a team to Fujian Province for research. The team visited the Pingtan Cross-Strait Small-Scale Commodity Trading Market and the Fujian Hospital of Huashan Hospital affiliated with Fudan University, and held a symposium to listen to the policy demands and suggestions of medical institutions, Taiwanese-invested enterprises, and provincial and relevant municipal drug regulatory departments regarding the integrated development of cross-strait medicine. Yang Sheng emphasized the need to continue supporting the construction of the cross-strait integrated development demonstration zone, and to study and introduce policy measures to promote the integrated development of cross-strait medicine, so as to better guarantee the publics needs for medicines and medical devices.Market news: A draft report on Japans growth strategy indicates that the government plans to improve the management of its $1.3 trillion foreign exchange reserves.
Morgan Stanley: 1. Raises Micron Technology (MU.O) price target from $520 to $1050, maintaining an "Overweight" rating. 2. Raises Q3 earnings forecast due to continued increases in average selling prices for DRAM and NAND due to supply-demand imbalances. Prices for both memory products are expected to rise approximately 20% sequentially this quarter. 3. Long-term agreements between Micron and major customers will be a key focus for the market. Wedbush: 1. Raises price target from $550 to $1300, maintaining an "Outperform" rating. 2. Raises EPS forecast from $19.16 to $22.84 and revenue forecast from $33.5 billion to $38.5 billion, due to higher-than-previous guidance and significantly higher-than-consensus pricing in Q2. 3. DRAM and NAND prices may rise approximately 20% in Q3. Deutsche Bank: 1. Raises price target from $1000 to $1500, maintaining a "Buy" rating. 2. DRAM supply shortages may persist into 2028 or even longer. New supply is unlikely to keep pace with demand growth driven by proxy AI and inference workloads. 3. Q3 revenue is expected to be approximately $35.1 billion, exceeding the upper limit of the companys guidance of $34.25 billion. EPS is projected to reach approximately $160 in 2027, with gross margin expected to remain above 80% for the foreseeable future. Citigroup: 1. Raises target price from $840 to $1200, maintaining a "Buy" rating. 2. High memory chip prices will continue into 2027, especially for HBM. DRAM average selling price is expected to surge by 200% this year due to strong data center demand driven by accelerated token growth, while supply growth is relatively limited. Stiglitz: 1. Raises target price from $550 to $1500, maintaining a "Buy" rating. 2. The average selling price of traditional DRAM is currently about twice the level initially projected by Micron. In the data center market, contract prices have exceeded $2.50 per GB; prices in the consumer PC and smartphone markets have also remained above $1.50 per GB. Against this backdrop, the companys quarterly revenue is expected to increase by 20% sequentially. Needleham: 1. Raises target price to $1550, maintains "Buy" rating. 2. Significantly raises earnings forecast; the memory chip market has continued to strengthen over the past 90 days. Market fundamentals will remain "stronger" for a longer period. Bernstein: 1. Raises target price from $510 to $1300, maintains "Outperform" rating. 2. Short-term price increases are stronger than expected; HBM average selling prices will further increase before calendar year 2027. DRAM supply shortages will be more severe and longer-lasting than previously anticipated; prices are likely to remain strong for most of calendar year 2027. SIG International: 1. Raises target price from $600 to $1750, maintains "Positive" rating. 2. The two key variables that will ultimately determine the companys sustainable operating profit margin and valuation multiple are: First, the "key-value cache offloading," as the market remains uncertain about its final configuration. Second, new wafer capacity. The supply shortage in the DRAM and NAND markets is expected to continue throughout 2027. Jefferies Group: 1. The supply and demand relationship for HBM remains tight. Currently, global HBM monthly capacity is approximately 330,000 wafers, and it is projected to increase to 480,000 wafers by 2027, but demand may still grow by 70% in the coming year. 2. Micron expects Q3 memory prices to rise 40% to 50% sequentially, and another 30% to 40% in Q4. The average selling price of memory products is expected to rise 40% to 45% year-on-year in 2027. Wells Fargo: 1. Raises target price from $550 to $1220, maintaining a "Buy" rating. 2. Continued tight supply in the memory chip market, strong progress in the Strong Customer Authentication (SCA) program, and Microns overall excellent execution suggest further upside potential for the stock this year. Goldman Sachs: 1. Raises target price from $400 to $900, maintaining a "Neutral" rating. Current performance is driven by surging demand for HBM in the AI hardware sector. Earnings are expected to peak in fiscal year 2027, with EPS of $138.86. JianDa Company: 1. Raises target price from $700 to $1500, reiterating an "Overweight" rating. 2. The DRAM and NAND markets will remain in a state of supply shortage throughout calendar years 2026, 2027, and 2028.On June 24, the Bank of Korea reiterated its hawkish stance, stating that rising housing prices, expanding household debt, and increased leveraged investment could exacerbate financial imbalances, necessitating further interest rate hikes at an appropriate time. The Bank of Koreas semi-annual Financial Stability Report, released Wednesday, noted that despite increased domestic and international uncertainties, the South Korean financial system remained generally stable thanks to strong economic growth, resilient financial institutions, and sound external payments. However, the report warned that the risk of financial imbalances could further increase as housing prices in Seoul and surrounding areas accelerate and investors become increasingly reliant on leveraged asset purchases. Furthermore, while banks and other financial institutions maintain capital and liquidity buffers, credit risks for vulnerable borrowers and businesses continue to rise. The report stated, "The Bank of Korea will maintain the benchmark interest rate at 2.5% from the second half of 2025, but considering inflationary pressures, economic conditions, and financial stability risks, it believes it is necessary to raise the policy rate at an appropriate time."
