MNI China Daily Summary: Monday, November 18

MNI BRIEF: China’s October Youth Employment Rate Remains High

MNI BRIEF: Beijing Retail Sales Growth Decline Narrows In Oct

MNI: PBOC Net Injects CNY38.9 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1907 Mon; +0.11% Y/Y

CHINA PBOC CONDUCTS CNY172.6 BLN VIA 7-DAY REVERSE REPOS MON

Japan Sep Machine Orders -0.7% M/M

EZ/UK Bond Supply Calendar: EU Synd; SK, BE Auction on Monday

MNI: US SEP BUSINESS INVENTORIES +0.1%; SALES +0.3%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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EQUITIES: Semiconductor Stocks Continue Sell-off, Nvidia Chip Issues

EQUITIES
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  • There have been some large losses in US semiconductor stocks over the past week, The Philadelphia Stock Exchanged Semiconductor Index (SOX) fell 3.42% on Friday and down 8.64% for the past week. Nvidia fell 3.26% on Friday, although remains the top performing stock in the index this year and one of the top performing stocks in the SOX over the past week even following new of chips issues, while Monolithic Power Systems the worst performing, down 24.68% for the week.
  • It has been reported Nvidia is making late design changes to server racks for its new Blackwell graphics processing unit due to overheating issues, raising concerns about potential delays. While Nvidia has not notified customers of any delays, earlier engineering challenges already pushed back the Blackwell chip's release by at least a quarter. Nvidia has yet to made any public statements in relation to the claims, while quarterly earnings are scheduled for release on November 20.
  • Friday saw Applied Materials (AMAT) fall 9.20% following a disappointing revenue forecast for its fiscal first quarter, The company projected sales of $7.15 billion missing estimates and reflecting slowing demand from industrial and vehicle chipmakers and reduced orders from China. Revenue from China, once a major growth driver, fell to 30% of sales last quarter, down from 44% a year ago, though demand for AI-related chips remains robust.
  • Asian semiconductors stocks are trading better than their American peers today, with Samsung trading 5.50% higher following news they will be doing a share buyback, however the stocks still trades near the recent four year lows. The Bloomberg Asian Semiconductor Index is 0.25% lower.
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  • There have been some large losses in US semiconductor stocks over the past week, The Philadelphia Stock Exchanged Semiconductor Index (SOX) fell 3.42% on Friday and down 8.64% for the past week. Nvidia fell 3.26% on Friday, although remains the top performing stock in the index this year and one of the top performing stocks in the SOX over the past week even following new of chips issues, while Monolithic Power Systems the worst performing, down 24.68% for the week.
  • It has been reported Nvidia is making late design changes to server racks for its new Blackwell graphics processing unit due to overheating issues, raising concerns about potential delays. While Nvidia has not notified customers of any delays, earlier engineering challenges already pushed back the Blackwell chip's release by at least a quarter. Nvidia has yet to made any public statements in relation to the claims, while quarterly earnings are scheduled for release on November 20.
  • Friday saw Applied Materials (AMAT) fall 9.20% following a disappointing revenue forecast for its fiscal first quarter, The company projected sales of $7.15 billion missing estimates and reflecting slowing demand from industrial and vehicle chipmakers and reduced orders from China. Revenue from China, once a major growth driver, fell to 30% of sales last quarter, down from 44% a year ago, though demand for AI-related chips remains robust.
  • Asian semiconductors stocks are trading better than their American peers today, with Samsung trading 5.50% higher following news they will be doing a share buyback, however the stocks still trades near the recent four year lows. The Bloomberg Asian Semiconductor Index is 0.25% lower.