News

According to Reuters: Sources say UEFA, AFC, and CONCACAF are discussing a possible vote of no confidence to remove FIFA President Gianni Infantino.

Qatar has stated that its current efforts are focused on mediating relations between the United States and Iran.

Amazon Web Services (AWS) has committed over $500 million to student training in cloud computing and artificial intelligence. Students can access resources worth up to $579, including credits, training, and certifications.

A European Commission spokesperson stated that it is clearly anticipated that all migrants who illegally entered Ceuta will be deported back to Morocco.

The UK's Office of Maritime Trade Operations says a vessel near Yemen has been boarded and taken over by six armed men and is being guided toward Somalia.

Alibaba (BABA.N) shares reversed losses in pre-market trading, rising 0.5%.

**Share Buyback Plans:** 1. SK Hynix: Announced on August 19th a share buyback and cancellation of approximately 40 trillion won (approximately US$28.6 billion). This involves the buyback and cancellation of approximately 24.07 million shares, representing about 3.3% of issued shares, marking the largest treasury stock cancellation in South Korean history. The buyback period is approximately 3 months. The company has raised its shareholder return target to "more than 50% of cumulative free cash flow." 2. Samsung Electronics: Expected to announce a shareholder return plan exceeding 100 trillion won (approximately US$71.7 billion) by the end of August, with a proposed allocation of 50% of free cash flow for shareholder returns. 3. SanDisk: On August 5th, it added US$14 billion to its buyback authorization, bringing the remaining authorization to US$15.5 billion; making it one of the most aggressive US memory stocks recently. 4. Kioxia: On July 31, it announced a share buyback program of up to 800 billion yen (approximately US$5.1 billion), representing 5.5% of its issued shares, making it a pioneer in this round of large-scale buybacks in the memory industry; it also simultaneously conducted a 1-for-3 stock split. 5. Micron Technology: The buyback plan is currently suspended due to restrictions related to the "Chip Act," and is scheduled to resume after the restrictions are lifted on December 9, 2026. The company stated that after the restrictions are lifted, it can return 100% of its surplus cash to shareholders, with buybacks being the primary method. Institutional Views: 1. SK Hynix: ① JPMorgan Chase: Maintains "Buy," target price 2.75 million won. It believes the policy upgrade is significant and expects Hynix to potentially return at least another US$130 billion to shareholders by 2027. ② Barclays: Maintains "Overweight" rating with a target price of $300. Raises its 2027 quarterly dividend forecast to 2,500 won per share and its year-end dividend forecast to 10,000 won. ③ Goldman Sachs: Maintains "Buy" rating with a target price of 3.5 million won. Forecasts a shareholder return of 8% in 2027, with approximately 7 trillion won in additional buyback potential. ④ Nomura: Maintains "Buy" rating with a target price of 4.7 million won. Forecasts free cash flow of 156 trillion won and 318 trillion won in fiscal years 2026 and 2027 respectively. Based on a 50% return, shareholder returns would be approximately 78 trillion won and 159 trillion won respectively, equivalent to shareholder returns of approximately 7% and 15%. ⑤ CLSA: Gives a "High Conviction Outperform" rating with a target price of 3.7 million won. Believes buybacks are a strong signal that the stock is undervalued, and total shareholder returns in 2026 may exceed 100 trillion won. 2. Samsung Electronics: ①KB Securities: Gives a "Strong Buy" rating with a target price of 600,000 won. Predicts the new shareholder return policy will result in annual dividends and share buybacks totaling 100 trillion to 200 trillion won, a 10-20 fold increase from the current level. ②Meritz Group: Maintains a "Buy" rating with a target price of 500,000 won. Expects continued profit growth until the end of the year, with demand for AI servers, HBM, and SOCAMM rapidly absorbing market supply, and memory shortages continuing until the end of next year. ③ACT Research Institute: At the current valuation, the expected return on share buybacks is approximately 25%, significantly higher than the 14% dividend yield. It recommends prioritizing buybacks over special dividends, with a minimum buyback of 45 trillion won and a maximum of 91 trillion won if the cash flow distribution rate reaches 100%. 3. SanDisk:① Citigroup: Maintains "Buy" rating with a target price of $2,100. Expects SanDisk to continue its share buyback program.② JPMorgan Chase: Initiates coverage with an "Overweight" rating and a target price of $2,250. 4. Kioxia:① UBS: If half of the expected net profit of ¥9.42 trillion in fiscal year 2028 is used for buybacks, approximately 19% of outstanding shares can be cancelled; ROE forecast revised upward from 42% to 48%, and the price-to-book ratio revised upward from 4.63 to 5.23.② JPMorgan Chase: Maintains "Overweight" rating with a target price of ¥155,000, expecting significant upside potential in the share price. 5. Micron Technology:① UBS: Maintains "Buy" rating with a target price of $1625. Micron is expected to generate approximately $380 billion in free cash flow in 2027-2028, which could allow for a share buyback of approximately 20%-30% at the current share price.② JPMorgan Chase: Maintains "Overweight" rating with a target price of $1540. Sixteen strategic client agreements have secured approximately $100 billion in committed revenue, guaranteeing long-term profitability.

The German central bank expects the war with Iran to have no secondary impact on wages.

The German central bank predicts that Germany's GDP will grow by only a small margin in the third quarter.

German central bank: Low water levels in Germany will drag down the German economy.

Kremlin: There is no information regarding a possible visit by U.S. special envoys Kushner and Witkov.

The UK's August CBI industrial price expectations balance was 22, compared to a forecast of 14 and a previous reading of 11.

The UK's August CBI industrial orders balance was -25, compared to a forecast of -40 and a previous reading of -45.

Alibaba (09988.HK): For the quarter ended June 30, 2026, we repurchased 13.4 million ordinary shares (equivalent to 1.7 million American Depositary Shares) for a total consideration of US$162 million. These repurchases were conducted in the U.S. market in accordance with our share repurchase program.

The UK CBI Industrial Order Balance for August will be released in ten minutes.

Futu Holdings (FUTU.O): Total transaction volume in the second quarter of 2026 increased by 78.8% year-on-year to HK$6.42 trillion. Net profit increased by 41.6% year-on-year to HK$3.6419 billion (US$464.4 million). Adjusted non-GAAP net profit increased by 40.1% year-on-year to HK$3.7251 billion (US$475 million).

The Ukrainian military reported attacks on Russia's Taneko oil refinery and an oil terminal in the Krasnodar region.

Alibaba (BABA.N) shares fell more than 4% in pre-market trading.

Futu Holdings (FUTU.O) shares rose 10% in pre-market trading.

Alibaba (09988.HK): Revenue from AI labs and applications grew by 16% in the first quarter.