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Real-time News
Why did the market focus on "zinc" immediately after the earthquake in Liuzhou, Guangxi? A graphic explains the upstream and downstream distribution of the zinc industry chain, and the complete transmission logic of zinc from mines to end-use applications.On May 18th, S&P Global Ratings stated in a report that JD.com (09618.HK) may face challenges in maintaining its growth momentum in the coming quarters. The companys core retail business achieved growth in the first quarter, benefiting from an expanding user base and increased shopping frequency, with overall performance exceeding S&Ps expectations. However, S&P analysts believe that JD.coms planned reduction in promotional activities could lead to a slowdown in retail growth, and user growth may also moderate. They added that competition in the food delivery industry may intensify again during the upcoming peak season. S&P stated that JD.com may need to conduct more targeted food delivery promotions to control the resulting losses.On May 18, Iranian media reported that the Houthi rebels in Yemen shot down a US MQ-9 Reaper drone in Marib province on May 17. The report also included images of the downed drone wreckage and video footage of the drone crashing and burning.The bid-to-cover ratio for Japans 5-year government bonds was 3.22.On May 18th, Nomura issued a report stating that AI-driven demand is growing exponentially, while memory supply is limited, suggesting a potential revaluation of memory stocks. The bank significantly raised its target prices for Samsung Electronics and SK Hynix, increasing Samsungs target price from 340,000 won to 590,000 won and SK Hynixs target price from 2.34 million won to 4 million won, both with a "buy" rating. Nomura stated that as AI semiconductor demand shifts from training to inference workloads, memory demand is entering a period of exponential expansion. In contrast, the bank believes that industry supply growth during the same period may still be limited to about 5 to 6 times (an annual compound growth rate of about 30%), raising serious questions about whether the structural supply shortage can be truly resolved. The bank noted that the industry is currently attempting to narrow this widening supply-demand gap through various software and architectural optimizations, but Nomura believes these solutions can only slow the growth rate, not reverse the trend.
