️Macro Alpha Analytics🫆

​NVIDIA黄仁勋：全球半数AI高手来自中国 辉达（NVIDIA）首席执行员黄仁勋直言，全球50%的人工智能（AI）研究人员来自中国，没有接近的第二名。 https://www.sinchew.com.my/?p=6390420

数据已经在美国网址了

原来马来西亚的排名那么前 🙈 华哥还那么勇敢 😱

美国与马来西亚之间的贸易赤字较大的原因主要包括以下几个方面： 1. 马来西亚对美出口产品较多 马来西亚是全球重要的制造业和出口国，特别是在电子产品、半导体、石油化工和医疗设备等领域。美国大量从马来西亚进口以下产品： 电子和电气产品（芯片、集成电路、计算机零部件） 液化天然气（LNG） 和其他能源产品 棕榈油及其相关产品 橡胶手套和医疗用品（疫情后需求仍然较高） 2. 美国对马来西亚的出口较少 虽然美国也向马来西亚出口产品，但主要以农业产品（如大豆）、飞机及零部件、化学品等为主，整体出口额较小，导致贸易逆差（进口 > 出口）。 3. 马来西亚是全球供应链的重要节点 马来西亚是东南亚半导体产业的重要基地，许多美国科技公司（如英特尔、德州仪器等）在马来西亚设有生产基地，美国企业需要从马来西亚进口大量电子零件用于生产，这增加了进口额。 4. 东盟自由贸易政策的影响 马来西亚是东盟（ASEAN）成员国，与中国、日本、韩国等国有紧密的供应链合作关系。许多产品（如电子零部件）可能先在马来西亚加工后再出口到美国，使马来西亚的出口额进一步增加。 5. 美元汇率和贸易政策影响 美元长期较强，使美国进口商品更便宜，进一步推动从马来西亚的进口增长。而马来西亚对美出口享受较低的关税（如部分产品受《东盟-美国贸易协定》影响），也使其出口更具竞争力。 总结 美国对马来西亚的贸易赤字主要是因为马来西亚出口电子产品、能源、医疗用品较多，而美国对马出口相对较少。此外，全球供应链、东盟贸易政策、汇率等因素也进一步扩大了这一贸易逆差。

什么是贸易赤字？ 贸易赤字（Trade Deficit）是指一个国家的进口总额大于出口总额的情况。对于美国来说，贸易赤字意味着它从其他国家购买的商品和服务的价值高于它向这些国家销售的商品和服务的价值。 如何计算贸易赤字？ 贸易赤字的计算公式如下： 贸易赤字 =进口总额 - 出口总额 如果结果是正数（进口大于出口），则表示存在贸易赤字；如果结果是负数（出口大于进口），则表示存在贸易顺差。 举例计算 假设美国在2024年： 从中国进口 5000 亿美元的商品和服务 向中国出口 2046 亿美元的商品和服务 那么，美国对中国的贸易赤字计算如下： 5000 - 2046 = 2954 因此，美国对中国的贸易赤字为 2954亿美元。

马来西亚排名第八 🙈

Bessent Sees Reciprocal-Duty Focus on ‘Dirty 15’ Trade Partners https://www.bloomberg.com/news/articles/2025-03-18/bessent-sees-reciprocal-duty-focus-on-dirty-15-trade-partners

不要问小篇为何坦克可以进 🙈 只要符合市值和平均成交量的都可以被纳入，就如之前的红升一样。

FTSE quarterly rebalancing for March 2025, with the following changes: Additions to Large Cap: SUNWAY 99SMART Additions to Small Cap: VITRO MFCB TANC ECW PREIT NATGATE SCGB Deletions from Small Cap: HAPSENG LCTIFAN

#IJM #GAMUDA #HAPSENG #TOPGLOVE #NATGATE #SUNWAY #99SMART #CIMB #MAYBANK #PBBANK

🎺

🧙‍♀️ Triple Witching Day #NATGATE

"Musk: Tesla to build 5,000 Optimus robots in 2025, urges staff not to sell shares" https://www.investing.com/news/stock-market-news/musk-tesla-to-build-5000-optimus-robots-in-2025-urges-staff-not-to-sell-shares-3941167

不多，大概 10 亿令吉而已 😅

PM Anwar announces RM500, RM250 special Aidilfitri aid for civil servants and pensioners https://www.thestar.com.my/news/nation/2025/03/21/pm-anwar-announces-rm500-rm250-special-aidilfitri-aid-for-civil-servants-and-pensioners?utm_medium=socmed&utm_campaign=TG

#DAYANG

Malaysia Airlines parent to buy 30 Boeing 737 jets | Reuters https://www.reuters.com/business/aerospace-defense/malaysia-airlines-parent-buy-30-boeing-737-jets-2025-03-21/

Nestle invests RM250mil on world-class logistics hub in Port Klang https://www.nst.com.my/business/corporate/2025/03/1191321/nestle-invests-rm250mil-world-class-logistics-hub-port-klang

♨️ Fresh From Oven ♨️ A quick read-through on 2QFY25 results - VS posted a sequentially weaker 2QFY25 net profit of RM15.4m (-50pct qoq; -4% yoy) bringing 1HFY25 to RM46.0m (-29pct) which came in below expectations at 20pct of our/consensus full year numbers. - The -ve deviation were mainly due to the inventory adjustment from its US customer - to pave ways for new products launching in 3Q/4Q25. - 1H revenue growth came in flat owing to a soft 2QFY25 revenue on much weaker orders (-37pct) from its SG segment (US customer), despite decent loadings from customer X. - We expect a stronger 2H on a meaningful 4Q underpinned by: i) order ramp-up from customer X (including maiden contribution from PH side) ii) normalisation of orders from the two key US customers towards end 3QFY iii) absence of unfavourable forex fluctuations. - Meanwhile, FY26 could see a transformational year on all stars aligned ie PH operations, orders normalisation and contribution from new prospects. • New foray – a major rerating to its CE-centric profile? Note that VS is in discussions with prospects beyond CE customers. Among these opportunities, we understand that the most imminent one could be a potential collaboration with a medical industry customer and potentially a sizeable prospect. • While we are not assuming any new customer wins for now, any RM300m contract being secured with full contribution in FY26 on a net margin of 5.7% could lead to an earnings accretion of 5%. - Share price plunged 11pct yesterday but rebounded 4pct as of our time of writing,which we believe reflective of a risk-off kneejerk in anticipation of weak results. - Assuming 45pct/15pct earnings cut to FY25-26 numbers, at RM0.84, it is trading at 24x FY25 PE (FYE July) and at 12x FY26 PE - at sub -1SD below its five-year mean PE, which we see as a compelling entry point considering a robust FY26 outlook driven by a transformative business landscape. From UOBKH