Chinese Vice-Premier Ding Xuexiang has acknowledged it is no “easy task” to truly implement Hong Kong’s executive-led governance system, stressing that it must be a “shared responsibility” of the legislative and judicial branches and society as a whole. But Ding, the head of the Central Leading Group on Hong Kong and Macau Affairs, said an executive-led governance system was “important and essenti...
Chinese Vice-Premier Ding Xuexiang has acknowledged it is no “easy task” to truly implement Hong Kong’s executive-led governance system, stressing that it must be a “shared responsibility” of the legislative and judicial branches and society as a whole. But Ding, the head of the Central Leading Group on Hong Kong and Macau Affairs, said an executive-led governance system was “important and essential” for the city to align with China’s 15th five-year plan and advance its integration with the mainland. “To genuinely implement [executive-led system] is not easy,” Ding said at a meeting with Hong Kong and Macau members of the Chinese People’s Political Consultative Conference (CPPCC), the country’s top advisory body, on Friday. Advertisement “It requires the chief executive and the government to strengthen their sense of being the head [of the city], and will need the coordination from all sectors of society.” Ding, the sixth-ranked Politburo Standing Committee member, added that putting the executive-led system into effect also required support from the legislature and judiciary. Advertisement “[Implementing] the executive-led governance is not just the business of the chief executive. It is also the shared duty of the Hong Kong and Macau governments, the public of Hong Kong and Macau and all sectors of society,” he said.
Central banks across developing Asia are facing a sudden shift in their policy outlook as traders ramp up bets on an Iran war-driven oil shock, adding to inflation pressures that were already building before the latest crisis. Overnight index swaps show a marked shift in pricing across much of Asia. The turnaround is most stark for India and the Philippines, where rate hikes are now expected inste...
Central banks across developing Asia are facing a sudden shift in their policy outlook as traders ramp up bets on an Iran war-driven oil shock, adding to inflation pressures that were already building before the latest crisis. Overnight index swaps show a marked shift in pricing across much of Asia. The turnaround is most stark for India and the Philippines, where rate hikes are now expected instead of cuts, and while Thailand and Indonesia are still seen lowering borrowing costs, those probabilities are diminishing fast. “Given the possibility of a prolonged Iran conflict, Asian central banks will be sensitized to the oil price movements and will likely be closely watching if the monetary policy easing room has evaporated in the near-term,” Selena Ling , head of research at Oversea-Chinese Banking Corp Ltd. said on Friday. Even before the Middle East conflict, Ling had forecast that stronger growth and fading disinflation would limit the room for rate cuts this year. “The window may be closing earlier, especially if there is real oil supply losses from a prolonged Iran conflict.” OCBC estimates that a sustained 10% rise in oil prices from their average price of $67 a barrel in January and February would lift annual headline inflation by roughly 0.6–0.8 percentage point in Thailand, 0.5–0.7 point in the Philippines and India, and about 0.4–0.6 point in Malaysia, Indonesia and Vietnam, according to a note this week. Brent was trading around $83 a barrel early Friday in Asia. Indonesia and the Philippines saw consumer prices accelerate in February and are bracing for worse to come. Both are heavily reliant on imports for their fuel needs — a problem compounded by weakening currencies that pushes up their import bills. “We are watchful of the recent developments in the Middle East for their implications on near-term inflation and economic activity,” the Bangko Sentral ng Pilipinas said on Thursday after February inflation came in at 2.4%, the fastest pace in more than ...
Earnings Call Insights: Marvell Technology, Inc. (MRVL) Q4 2026 Management View CEO Matthew Murphy welcomed the Celestial AI and XConn teams, noting that "these highly strategic additions further strengthen our technology platform and significantly enhance Marvell's position in the rapidly emerging AI scale-up networking market." Murphy reported record Q4 revenue of $2.219 billion, reflecting 7% s...
Earnings Call Insights: Marvell Technology, Inc. (MRVL) Q4 2026 Management View CEO Matthew Murphy welcomed the Celestial AI and XConn teams, noting that "these highly strategic additions further strengthen our technology platform and significantly enhance Marvell's position in the rapidly emerging AI scale-up networking market." Murphy reported record Q4 revenue of $2.219 billion, reflecting 7% sequential growth, and stated "revenue exceeded the midpoint of guidance, driven by strong demand in our data center end market." He described fiscal 2026 as "an exceptional year for Marvell," with revenue growing 42% year-over-year to $8.2 billion and data center revenue surpassing $6 billion, growing 46% year-over-year. Murphy stated, "As we begin fiscal 2027, we are seeing very strong demand across our entire data center portfolio with bookings accelerating at a record pace." He highlighted that Marvell expects Q1 fiscal 2027 revenue to grow 8% sequentially at the midpoint to $2.4 billion and projected that "revenue exiting this year [Q4] will exceed $3 billion." Murphy announced, "we now expect overall Marvell revenue in fiscal 2027 to grow more than 30% year-over-year, approaching $11 billion," noting this outlook is "meaningfully higher than what we communicated in our prior updates." CFO Willem Meintjes stated, "In fiscal 2026, Marvell delivered $8.195 billion in revenue, growing 42% year-over-year. This growth was primarily driven by AI demand in our data center end market, as well as the continuing recovery in our communications and other end markets." Outlook Murphy raised fiscal 2027 revenue guidance to approach $11 billion, up from the $10 billion communicated in December and $9.5 billion from September, attributing the increase to accelerating data center demand. Management expects fiscal 2027 data center revenue to grow by 40% year-over-year and the interconnect business to grow more than 50% year-over-year. Looking ahead to fiscal 2028, Murphy projected "Marve...
STORY: Broadcom shares jumped on Thursday after the company predicted over $100 billion in AI chip sales next year, signaling rapid share gains in the market dominated by Nvidia. As demand for AI training, inference and automated “agent” systems grows, Ahlsten says companies are pouring billions into specialized chips, calling it "the largest generational investment that I've seen in my career." "...
STORY: Broadcom shares jumped on Thursday after the company predicted over $100 billion in AI chip sales next year, signaling rapid share gains in the market dominated by Nvidia. As demand for AI training, inference and automated “agent” systems grows, Ahlsten says companies are pouring billions into specialized chips, calling it "the largest generational investment that I've seen in my career." "Clearly with Hock Tan, their CEO talking about $100 billion in sales for custom silicon, fantastic opportunities there and really a big driver of Broadcom and we think this is quite durable as we go from training A.I. models to the search engine world," he added.
Morgan Stanley is adopting a more cautious stance on Asian equities, trimming its India exposure on concerns that the Iran war may disrupt supply chains if oil flows through the Strait of Hormuz fail to recover. “We stay defensive,” Morgan Stanley strategists including Daniel Blake and Jonathan Garner wrote in a note dated March 5. “Asia remains critically dependent on Middle Eastern supply of cru...
Morgan Stanley is adopting a more cautious stance on Asian equities, trimming its India exposure on concerns that the Iran war may disrupt supply chains if oil flows through the Strait of Hormuz fail to recover. “We stay defensive,” Morgan Stanley strategists including Daniel Blake and Jonathan Garner wrote in a note dated March 5. “Asia remains critically dependent on Middle Eastern supply of crude oil, refined products and LNG and we believe the market is too complacent about supply chain risks.” The strategists downgraded India from overweight to equal-weight in their latest reshuffle, citing the country as one of the Asian markets most exposed to potential Qatari LNG supply disruptions. With uncertainty around AI and high valuations, global investors may wait — possibly until South Korea and Taiwan’s tech cycle peaks — before shifting back toward India, they said. Morgan Stanley’s shift highlights rising geopolitical risks as the Iran war reshapes energy flows and risk premiums. Prolonged disruption in the Strait of Hormuz could lift oil and LNG prices, pressure energy-importing Asia , and trigger earnings downgrades. Concerns are mounting that a sustained supply shock may spark a global economic slowdown, undermining key export industries. Global investors are pulling money out of emerging Asia’s major markets. Since the war began, foreigners have withdrawn about $1.3 billion from India, which has limited exposure to AI. Meanwhile, chip-heavy Taiwan and Korea have seen even larger outflows — $1.6 billion from Korea this week and about $7.9 billion from Taiwan.