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Stifel raised its price target for Microsoft (MSFT.O) from $450 to $530.Mizuho Bank lowered its price target for Intel (INTC.O) from $109 to $92.On September 4th, it was learned from the China Development Bank (CDB) that on September 3rd, CDB successfully issued RMB 5 billion of 3-year green financial bonds through the China Foreign Exchange Trading Centers issuance system at the Shanghai Clearing House, with an issuance interest rate of 1.27%. This marks the first time CDB has used online book-building to issue green financial bonds, effectively improving issuance efficiency and transparency. The projects involved in this green financial bond issuance were strictly selected according to the "Green Finance Supported Project Catalogue (2025 Edition)," with a green rating of G1 (the highest level). The funds raised will be primarily used for key areas such as green infrastructure upgrades, energy-saving and carbon-reducing industries, green and low-carbon energy transformation, and ecological protection, restoration, and utilization. This issuance represents a new attempt by CDB to optimize its bond issuance pricing mechanism and narrow the price gap between the primary and secondary markets, as well as a new exploration of empowering green and low-carbon financing through market-oriented methods.On September 4th, BNP Paribas economists stated in a report that the persistent energy price shock, coupled with the resilience of the Eurozone economy, suggests the European Central Bank (ECB) may raise interest rates once in September and once in December. Economists expect the ECB to raise rates next week, while potentially raising its economic growth and inflation forecasts, further supporting the case for tightening monetary policy. Continued high energy prices and a strong economy make a second round of effects more likely, although current signs are still limited. Economists indicated that policymakers will continue to view the risks to the inflation outlook as skewed to the upside.According to The Times, British Prime Minister Burnham will approve the new Jack Road gas field project in the North Sea in late September.

Samsung Elec Will Boost Chip Output Next Year - Media

Charlie Brooks

Dec 26, 2022 14:36

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A South Korean tabloid claimed late on Sunday that Samsung Electronics (OTC:SSNLF) aims to raise chip manufacturing capacity at its main semiconductor factory in 2019, despite predictions of an economic slowdown.


In response to decreased demand and an oversupply of chips, competing chipmakers have reduced their expenditure.


Analysts have stated that Samsung's (KS:005930) commitment to investment plans will likely assist the company in gaining market share in memory chips and bolster its stock price when demand improves.


Samsung wants to expand its P3 facility in Pyeongtaek, South Korea, by adding 12-inch DRAM memory chip wafer capacity, according to unidentified industry sources cited by the Seoul Economic Daily.


It will also increase the plant's capacity to produce 4-nanometer chips under foundry contracts - that is, according to clients' designs, according to the publication.


This year, P3 began producing cutting-edge NAND flash memory chips, making it the company's largest chip manufacturing plant.


The publication reports that Samsung plans to install at least ten extreme UV equipment next year.


The company refused to comment on the report.


Contrary to the industry-wide propensity to reduce output to fulfill medium- to long-term demand, the company stated in October that it has no intention of reducing chip manufacturing.


Han Jin-man, executive vice president of Samsung's memory unit, stated at the time, "We intend to stick with our initial infrastructure investment plans."


In contrast, memory chip competitor Micron Technology Inc (NASDAQ:MU) said last week that it will reduce its spending in fiscal 2023 from $12 billion in fiscal 2022 to between $7 billion and $7.5 billion. It will also "substantially reduce capital expenditures" in fiscal 2024, the company added.


In October, the Taiwanese chipmaker TSMC reduced its yearly investment budget for 2022 by at least 10 percent and sounded a more negative tone than typical regarding future demand.


Greg Roh, head of research at Hyundai Motor Securities, wrote in a client note on Monday, "The chip industry slowdown will exacerbate the challenges of No. 2 and below chip businesses, while benefiting the market dominance of top companies such as Samsung."

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