MONEY MASTER

Japanese equities declined sharply on Thursday as  rising oil prices and a hawkish Federal Reserve outlook  dampened investor sentiment, highlighting growing concerns over  inflation and global growth risks . Broad-Based Selloff Across Japanese Equities The  Topix Index fell 2.1% to 3,640 , while the  Nikkei 225 dropped 2.8% , reversing recent gains. Market breadth was notably weak, with  over 1,500 stocks declining versus fewer than 50 gainers , reflecting a broad risk-off move. Heavyweights such as  Mitsubishi Corp.  led declines, while cyclical sectors including  chemicals and industrials  came under pressure. Oil Shock Drives Market Weakness The selloff was triggered by a surge in energy prices after renewed attacks on  Middle East energy infrastructure . Brent crude surged above US$110 per barrel Heightened risks to  global energy supply chains This has intensified fears of  imported inflation , particularly for energ...

Shares of  NVIDIA Corp  fell in premarket trading as escalating Middle East tensions raised concerns about energy costs and broader semiconductor supply chain risks. Key Takeaways Nvidia fell 1.3% in premarket; down 4.7% YTD Chip stocks broadly weaker amid oil shock fears Main risk is rising energy costs, not direct production shutdowns Asian semiconductor suppliers hit hardest Chip Sector Under Pressure Advanced Micro Devices Inc.  and  Broadcom Inc.  both declined in premarket trading. Taiwan Semiconductor Manufacturing Co.  dropped over 4% in Taiwan trading. Key Point: The immediate threat is not factory shutdowns — it’s higher energy and transportation costs squeezing margins. Semiconductor fabrication facilities are extremely energy intensive. Sustained increases in electricity and fuel costs could materially impact production economics. Asia Bears the Brunt Asian chip suppliers have fallen sharply due to heavy reliance on Middle East energy flows thro...

South Korea’s sovereign pension powerhouse just delivered its strongest performance in history. National Pension Service  (NPS) returned  18.82% in 2025 , marking its third straight year of record gains — the highest since its establishment in 1988. With  1,458 trillion won (US$1.02 trillion)  under management, its positioning now carries major implications for Korean equities. The Numbers Behind the Surge Total AUM: 1,458 trillion won 2025 return: 18.82% Domestic equities: +82.44% Overseas equities: +19.74% The rally was driven largely by semiconductor and AI-linked stocks. Meanwhile, the  KOSPI Index  has: Climbed more than 45% in 2026 Gained over 75% in 2025 Surpassed the 6,000 level Money Master Take This story is not about past returns. It’s about capital flow power and forward allocation impact. 1️⃣ Domestic Reallocation Is the Real Signal NPS recently: Increased target exposure to domestic equities Reduced the scale of overseas equity trimming Adjust...

Quick Summary Asian stocks outperformed the US , avoiding Wall Street’s AI-driven sell-off China and South Korea rebounded , led by semiconductor names Gold and silver retreated  after recent record highs Asia-Pacific equities are  up 12% YTD , vs a slight decline in the S&P 500 Asia Stays Resilient Despite US Tech Angst Asian equities largely shrugged off a US market slide triggered by concerns that  artificial intelligence could erode profits across multiple industries . The  MSCI Asia-Pacific Index  swung between gains and losses, with: Japan’s Topix +0.2%  (after reopening from holiday) South Korea +1.1% , recovering early losses Shanghai Composite +0.6% Hang Seng -1.8% Key point:  Asia has avoided the intense AI-driven rotation hitting US software and tech stocks. Why Asia Is Outperforming Asia is seen as a  beneficiary of AI supply-chain demand , particularly in semiconductors Investors are rotating into  chipmakers in South Korea a...

US tariff uncertainty will likely remain a  key market overhang , even after the  Supreme Court of the United States struck down tariffs imposed under the IEEPA, according to Malaysian research houses. The reason? President  Donald Trump  has already reintroduced global tariffs under a different legal channel. What Changed — And What Didn’t After the court ruled against tariffs imposed under the  International Emergency Economic Powers Act (IEEPA) , Trump announced: 10% global tariffs Plan to raise them to  15%  under  Section 122 of the 1974 Trade Act Valid for  150 days , unless Congress approves an extension Key issue: Although legally different,  protectionism remains intact . Public Investment Bank noted Trump is unlikely to retreat, as tariffs are central to his foreign policy strategy. Kenanga Investment Bank added: New tariffs are capped at 15% But US officials suggest tariff revenue levels will remain broadly unchanged Meaning m...

Quick Summary Montage Technology shares jumped up to 64% , closing  57% higher  in their Hong Kong debut US$902 million IPO  marks the  biggest opening-day gain in five years  for deals of similar size Rally highlights  strong investor appetite for China AI and semiconductor stocks Valuation gap with Shanghai listing fueled demand What Happened Shares of  Montage Technology Co  surged on their first day of trading in Hong Kong after the chip designer raised  US$902 million  in one of the city’s most eye-catching IPOs in recent years. IPO price:  HK$106.89 (top of the range) Close:  HK$175 Opening-day gain:   ~57%  (peaked at +64%) The offering involved  65.9 million shares  and was priced at a  44% discount  to Montage’s Shanghai-listed shares, which closed at  170.90 yuan  prior to the deal. Why Investors Piled In Strong AI momentum:  Persistent demand for  China AI-related sto...

Simple Summary AMD shares have more than doubled over the past 12 months Q4 earnings are expected to show strong profit and revenue growth Technical indicators remain bullish , but expectations are mixed Earnings reaction is the key near-term risk What’s Driving the Story High-end chipmaker  Advanced Micro Devices  has surged  100%+ year-on-year , beating the S&P 500 and hitting an  all-time high in October . With Q4 earnings due after the bell, investors are now focused on whether results can justify the rally. Earnings Expectations (Q4) Adjusted EPS:   US$1.32  (≈  +21% YoY ) Revenue:   ~US$9.7B  (≈  +26% YoY ) What stands out is  analyst uncertainty : 18 analysts raised estimates 16 cut forecasts Only 3 stayed unchanged Takeaway:  Expectations are high, but conviction is split. What the Chart Is Saying Despite volatility since October, AMD’s chart still leans bullish: Shares reclaimed the 21-day EMA and 50-day SMA A “min...

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...

Key Takeaways  Wall Street indices rose on strong TSMC-led tech earnings TSMC’s capex outlook boosted AI and semiconductor stocks Dow +0.6%, S&P 500 +0.26%, Nasdaq +0.25% Goldman Sachs and Morgan Stanley rallied on Q4 beats US jobless claims surprised to the downside Crypto prices fell as risk hedging eased Wall Street closed higher as  strong earnings from  Taiwan Semiconductor Manufacturing Co  reignited optimism across the technology sector, lifting all three major US indices. The  Dow Jones Industrial Average  rose  0.6% , while the  S&P 500  gained  0.26%  and the  Nasdaq Composite  advanced  0.25% . The rally was fuelled by a  4.4% jump in TSMC shares , following well-received results and signals of  higher-than-expected capital expenditure , reinforcing confidence in long-term AI and semiconductor demand. The upbeat outlook rippled through the chip ecosystem.  Applied Materials, Lam Resea...

Taiwan Semiconductor Manufacturing Company  (TSMC)  will report its  Q4 earnings on January 15 , taking center stage as the most critical “pick-and-shovel” play in the global AI boom. With AI chip demand accelerating and expectations running high, investors are less focused on headline numbers and more on  forward guidance, capacity expansion, and long-term AI visibility . Options Market: Caution Ahead of Earnings The derivatives market is signalling  defensive positioning  into the print: Put/Call ratio:   1.64  on open interest of 1.76 million contracts Implied volatility:   43.33% , well above historical volatility of 31.25% IV Percentile:   67% , indicating options are moderately expensive This suggests institutions are  hedging against downside risk , even if results come in strong — a sign that expectations for guidance may be difficult to exceed. Q4 Financial Expectations (Consensus) Revenue US$32.38bn  (+20% YoY, -2% Qo...

Semiconductor stocks exploded higher Wednesday , leading a broad market rally after  Trump paused reciprocal tariffs  for most countries (except China). But investors are now asking:  Is it time to buy chip stocks? Market Snapshot: Nasdaq surged 12%  after Trump's tariff pause announcement SOXX ETF (Semiconductor Index)  jumped  18% , rebounding from a 33% plunge since Feb 19 Chip giants: Nvidia (NVDA): +18.72% Taiwan Semi (TSM): +12.29% Qualcomm (QCOM): +15.19% Amazon (AMZN): +11.98%  (on chip/data optimism) Why Chips Are Volatile Chip stocks are  highly cyclical  — when demand drops,  profits fall fast . Production can’t adjust as quickly  as customer orders, leading to  price pressure  and margin declines. When macro fears ease (like with Trump's tariff shift), these same names  rebound sharply . 📉 The Buy Signal: Valuation Before the rally,  chip valuations were at historic lows , making them attractive. Nvi...

Malaysian semiconductor companies are expected to face near-term earnings pressure due to the recent strengthening of the ringgit against the US dollar , according to TA Securities . The research house estimates that a 1% drop in the US dollar could reduce the earnings of Inari Amertron Bhd by 1.3% and Unisem (M) Bhd by nearly 4% . Despite this, TA Securities maintains a positive outlook on the sector's medium- to long-term prospects . The firm noted that the ongoing global recovery in demand for semiconductors and rising trade diversion should continue to support Malaysian semiconductor firms. TA Securities kept its ‘overweight’ call on the sector and views the recent market correction as an opportunity for investors to accumulate oversold semiconductor stocks . The US dollar recently declined by 11% to a three-year low against the ringgit before rebounding sharply. Given that semiconductor sales and costs are largely denominated in the US dollar, currency fluctuations h...