MONEY MASTER

  Asian markets retreated as investors reassessed the balance between AI-driven growth and rising macroeconomic risks following the latest escalation in the Middle East. Oil Shock Reignites Inflation Concerns The immediate market reaction to the US strike on Iran was a rise in oil prices, with Brent crude climbing as investors priced in potential supply disruptions and renewed uncertainty around the Strait of Hormuz.  However, the larger concern is not oil itself. The real risk is that higher energy prices could push inflation higher at a time when markets are already debating whether the Federal Reserve may need to keep interest rates elevated for longer. Economists are expecting US inflation to accelerate again, with May CPI projected to rise to 4.2%, while strong labour market data has already reduced expectations for near-term policy easing.  Why Technology Stocks Are Under Pressure Technology and AI-related stocks have been the primary drivers of market gains over th...

Global markets slipped back into  risk-off mode  as renewed hostilities between the US and Iran unsettled investors, overshadowing positive economic data and reinforcing geopolitical-driven volatility. Asian Stocks Slide Amid Renewed Tensions The  MSCI Asia-Pacific ex-Japan Index  fell  0.8% , reflecting broad regional weakness: Nikkei 225   -1.3% Kospi   -2.0% The decline follows a  sell-off on Wall Street , where the  S&P 500  dropped  0.7% . Oil and Geopolitics Drive Market Sentiment Markets were shaken after  fresh exchanges of fire between the US and Iran , raising concerns over: Energy supply disruptions Prolonged instability in the  Middle East While Brent crude initially surged, it later eased to around  US$97 per barrel , reflecting  conflicting signals on ceasefire progress . Economic Data Takes a Back Seat Stronger US data failed to lift sentiment: ISM services PMI improved , indicating resilient d...

Quick Summary Asian equities extended gains  after a tech-led rebound on Wall Street Nasdaq 100 rose 1.1% , easing weeks of AI-related volatility South Korea hits record highs, best-performing market globally Focus now shifts to  Nvidia earnings , a key AI sentiment driver Asia Builds on US Tech Momentum Asian markets opened higher after US software and semiconductor stocks rebounded from the recent “AI scare trade.” MSCI Asia-Pacific Index:  Up for a third straight session Japan, South Korea, Australia:  Opened higher South Korea’s Kospi:  Up to 1.2%, extending a  43% gain this year  — world’s best-performing stock market Key point:  Asia continues to outperform global peers and has largely avoided the sharp tech sell-offs seen in the US. Wall Street Recap: Software Bounce The rally was led by: Nasdaq 100:  +1.1% S&P 500:  Higher Strength in battered software names Sentiment improved after  Anthropic  signalled its AI chat...

Quick Summary Malaysia’s effective US tariff rate may ease to 14.3% US Supreme Court struck down Trump’s reciprocal tariffs under IEEPA Malaysia remains relatively competitive within ASEAN Electronics and semiconductor exports continue to enjoy exemptions What Changed? The  Supreme Court of the United States  ruled that President  Donald Trump  did not have authority under the  International Emergency Economic Powers Act (IEEPA)  to impose reciprocal tariffs. Following the ruling: The US replaced them with a  blanket Section 122 tariff , initially 10%, later raised to 15% US Customs stopped collecting tariffs deemed illegal from Feb 24 Malaysia’s Effective Rate: What It Means According to  Maybank Investment Bank : Current effective US tariff rate:  15.6% Expected to settle at:  14.3% Overall US headline tariff:  15% Malaysia’s rate remains: Lower than Indonesia, Vietnam, Thailand and the Philippines Slightly  above the global ...

Shares of  Samsung Electronics Co Ltd  surged after a report said the company is set to  begin mass production of next-generation HBM4 memory chips , a critical component in artificial intelligence infrastructure. According to Yonhap News, Samsung plans to  ship HBM4 chips to  NVIDIA Corp  as early as the  third week of February , where the chips will be used in Nvidia’s upcoming  Vera Rubin AI accelerators . The report cited people familiar with the matter. Samsung’s stock climbed as much as  6.4% , extending its strong 2026 rally to nearly  40% year-to-date , as investors welcomed signs the company is  closing the gap with rival  SK hynix Inc , currently Nvidia’s main supplier of high-bandwidth memory. The move comes amid a broader boom in memory prices, driven by  exploding demand from hyperscalers  such as  Amazon.com Inc  and  Alphabet Inc , which are racing to build AI data centres. Prices for som...

A Reuters report that  Samsung Electronics  is preparing to ship next-generation  HBM4 memory  to  NVIDIA  has stirred concerns about competitive pressure on  Micron Technology . But for investors, this looks  more like a headline risk than a thesis break . What’s the News? (In Plain Terms) Samsung is reportedly  ready to start producing HBM4 chips  as early as next month Initial shipments to Nvidia could begin soon HBM4 is the  next upgrade cycle  after today’s HBM3/3E used in AI accelerators This confirms that  Samsung is back in the HBM race  after lagging SK Hynix and Micron earlier in the AI cycle. Does This Hurt Micron? Short Answer: Not Much (Yet) 1.  HBM Is Supply-Constrained, Not Demand-Constrained AI chipmakers (Nvidia, AMD, custom silicon players) are buying  every HBM chip they can secure . This is not a “winner takes all” market — it’s a  “everyone sells out” market . Even if Samsung qualif...

Summary Intel’s stock has rallied into earnings, raising a familiar but uncomfortable question for investors:  is the market pricing in progress faster than Intel can prove it in a single quarter?  This earnings report is less about a headline beat or miss, and more about whether management can  validate the narratives currently driving confidence  — or at least frame them carefully enough to keep expectations anchored. The setup: strong tape, higher bar Intel  has looked unusually strong heading into earnings. History shows that pre-earnings rallies don’t reliably predict what happens on the day itself — sometimes Intel sells off, sometimes it doesn’t. What they  do  tend to do is  shrink the margin for error . When a stock runs up before results, expectations quietly rise. That doesn’t mean disappointment is inevitable, but it does mean  guidance tone, credibility, and a few key sentences from management matter more than usual . The real is...

Shares of  Advanced Micro Devices (AMD)  came under pressure as the chipmaker recorded the largest jump in short-selling activity among semiconductor stocks, even as optimism over its artificial intelligence prospects continues to drive strong gains this year. AMD Short Volume Climbs Short volume on AMD rose  5.7 million to 12.6 million shares  on Wednesday — the biggest increase in the semiconductor group, according to exchange data. The total represents  about 11.7%  of all shares traded that day. The surge came as  AMD shares rallied 9.4%  after more analysts boosted their price targets. HSBC’s Frank Lee  raised his target to  $310  from  $185 , citing massive AI revenue potential from its new  OpenAI partnership . Wedbush’s Matthew Bryson  lifted his target to  $270  from  $190 . Despite the rise in short trading, short interest — the total amount of borrowed shares yet to be covered —  fell to...

Malaysia’s semiconductor sector may face  short-term headwinds  as renewed US-China trade tensions threaten to disrupt global supply chains,  MBSB Research  warned in a note on Thursday. The firm highlighted that  China’s new export restrictions on rare earth elements (REE) and battery technologies , combined with the  US’ 100% tariff on Chinese imports , could delay the production of advanced chips and equipment, impacting global and local manufacturers. “Malaysia, being part of the global semiconductor supply chain, may experience spillover effects,” MBSB said, citing potential disruptions to EV and chip components. Impact on Malaysia REE exports fell  9.6% year-on-year  to  RM4.5 billion  in 9M2025 amid weaker demand from China, Thailand, and Japan. REE-related products make up only  0.4% of Malaysia’s total exports , but account for  6.8% of mining exports . Higher input costs and delivery delays could affect Malaysia’s...

 $TSMC (TSM.US)$ is expected to post another blockbuster quarter as  AI-driven chip demand propels earnings to record highs , reinforcing its dominance in the global semiconductor landscape. However, rising  US tariffs and production policy tensions  could complicate its medium-term outlook. AI Boom Pushes TSMC Toward Record Profit According to an  LSEG SmartEstimate  compiled from 20 analysts,  Taiwan Semiconductor Manufacturing Co. (TSMC)  is projected to deliver a  28% year-on-year surge in Q3 net profit to 415.4 billion (US$13.6 billion)  — a new all-time high for the chipmaker. Revenue Growth:  +30% YoY, exceeding market expectations. Profit Benchmark:  Any figure above T$398.3 billion will mark  TSMC’s highest-ever quarterly profit  and its  seventh straight quarter of earnings growth . Valuation:  With a market cap of around  US$1.2 trillion , TSMC remains  Asia’s most valuable listed compan...

Potential Tariff Relief for Malaysia’s Semiconductor Sector Malaysia may avoid the full brunt of the U.S.’s proposed 100% tariff on imported semiconductors, according to CIMB Treasury & Markets Research. Economists Michelle Chia and Azri Azhar said a  substantial share of Malaysia’s chip exports come from U.S. firms operating locally , which may qualify for exemptions under U.S. President Trump’s relocation-focused tariff policy. Export Breakdown Investment Minister Tengku Zafrul revealed that  65% of Malaysia’s chip exports to the U.S. originate from U.S. companies  based in Malaysia. Analysts believe a  portion of the remaining 35% — linked to U.S. affiliates — may also be exempt . “The exemption mechanism may partially shield Malaysia’s semiconductor sector given the scale of U.S. and MNC operations in the country,” CIMB noted. GDP Sensitivity to Tariff Impact CIMB warns that if fewer exemptions materialize,  every additional 10% of chip exports affected ...

Key Takeaway Malaysia’s semiconductor sector may avoid the full impact of the proposed  100% U.S. chip tariff , with  up to 65% of exports potentially exempted  due to originating from U.S. firms operating in Malaysia, according to CIMB analysts. Tariff Exposure Around  65% of Malaysia’s chip exports to the U.S.  come from American companies with domestic facilities. An additional portion of the remaining 35% may also qualify for exemption due to U.S. ownership or linkages. Macro Sensitivity Every 10% of chip exports affected  could reduce  Malaysia’s GDP by 0.29% , highlighting the economy’s exposure to U.S. policy shifts. Analysts caution that while exemptions may soften short-term impact,  longer-term risks remain  as companies  reassess supply chain locations , potentially denting Malaysia’s investment outlook. Policy & Outlook CIMB holds its  2025 GDP growth forecast at 4.3% . Expects  Bank Negara Malaysia to keep the ...

Semiconductor Industry Association (SIA) is showing data that is pointing towards a declining attraction in the semiconductor industry, with a worldwide sales of semiconductors that fell by 5.8% year-on-year to US$26.9 billion in January this year compared to the US$28.5 billion a year ago. In a statement on its website March 3, SIA said that the figure was 2.7% lower month-on-month and 16.9% year-to-year. SIA president and CEO John Neuffer said global semiconductor sales decreased in January across most regional markets and product categories, largely due to softening demand and lingering macroeconomic headwinds. Regionally, sales decreased in most regions: China (-0.4% m-o-m/+4.3% y-o-y), Europe (-1.7%/-7.7%), Japan (-3.3%/-5.1%), Asia Pacific/All Other (-2.8%/-6.5%), and the Americas (-5.9%/-16.9%).  “Despite these challenges, modest market growth is projected for 2016, following essentially flat sales last year,” he said. It said sales also decreased acro...

2015 sales fell slightly In 2015, the global semiconductor sales totalled US$335.2 billion, a 0.2% drop from the previous year.  Despite the strong start to the year, sales faltered and slowdown towards the second half as the industry faced issues with softening demand and a stronger dollar. Here is a breakdown by product groups for some of the largest segments by sale: Logic (US$90.8 billion) Memory (US$77.2 billion) Micro-ICs (US$61.3 billion) Sensors and actuators, NAND flash memory and analog recorded increases of 3.7%, 2.2% and 1.9% on a y-o-y basis. The December month shown a decreased in sales by 5.2% y-o-y and 4.4% decline on a m-o-m basis. The m-o-m decline was attributed to seasonal cyclicality with December typically being a weaker quarter, according to TA Securities report. The World Semiconductor Trade Statistics (WSTS) is expecting a sales growth of 1.4% y-o-y in 2016 although TA Securities is of the view that the f...