Daily Brief Thematic (Sector/Industry): Semiconductor Real Time Indicators Update and more

In today’s briefing:

Semiconductor Real Time Indicators Update
Ohayo Japan | US PCE In-Line with Expectations
China Property Developers In Distress – Weekly News & Announcements Tracker | Mar 22-28, 2024

Semiconductor Real Time Indicators Update

Taiwan companies are required to report revenue on a monthly basis. These updates can help us understand how a given quarter is progressing & predict quarterly earnings ahead of time
Initially we focused on MoM % increase/decrease. This is useful, but one needs to account for anomalies such as seasonality and potential non-linearity month to month within a given quarter
We now also provide the monthly YoY revenue comparison. This eliminates anomalies due to both seasonality and intra-quarter non-linearity, enabling a clearer perspective on where the industry is at.

The personal consumption expenditures price index, which excludes food and energy, rose by 2.8% YoY, meeting expectations. Compared to the previous month, it also went up by 0.3%, as predicted.
The ratio of cashless payments to total consumption in Japan hit a record high of 39.3% in 2023, marking a 3.3 percentage point increase from the previous year
Denso announced its decision to divest all Toyota Industries shares; Miura Kogyo announced its acquisition of Cleaver-Brooks, a US-based company

This note is a weekly curated selection of Chinese news articles and company announcements focused on developers in distress
We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to sources

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