LENOVO GROUP (00992.HK) opened 0.55% higher today (20th), reaching an intraday high of HKD13.07. It last traded at HKD12.82, up 0.87% against the market trend, with turnover of 37.3425 million shares, involving HKD481 million. The HSI was last at 25,634, down 163 points or 0.6%.

Nomura upgraded LENOVO GROUP from Neutral to Buy and raised its TP from HKD11 to HKD16. The broker noted that strong demand for general-purpose servers will radically improve the profitability of its server business, offsetting concerns over a slowdown in PC, which the broker believed has not been fully factored in. Nomura raised its earnings forecasts for LENOVO GROUP for FY2026-28 by 9-45%.
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Meta Platforms, Inc. (META.US) will slash 8,000 jobs globally, Bloomberg reported. Affected employees will begin receiving notifications from Wednesday (20th), starting with staff at its Asian hub in Singapore, followed by employees in Europe and the US.

The latest layoffs are part of a previously announced restructuring plan aimed at improving efficiency and reducing costs, while ramping up investment in AI.

The affected employees are mainly from Meta's engineering and product teams, sources divulged. Further layoffs later this year cannot be ruled out.
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China's tablet market shipments totaled 8.11 million units in 1Q26, down 4.8% YoY, indicating a clear shift in market growth momentum from the previous dual drivers of "replacement demand + policy support" toward a more rational adjustment phase led by product competitiveness and genuine demand, according to IDC.

This transition will inevitably be accompanied by short-term pressure on shipment volumes, but in the long run, it represents a necessary path toward market maturity.

In 1Q26, Huawei ranked first among Chinas tablet vendors, with market share shrinking 1.3 ppts YoY to 33.2%. Apple Inc. (AAPL.US) followed, with market share rising 1.2 ppts YoY to 23.7%. XIAOMI-W (01810.HK) ranked third with a 10.6% market share, down 6.2% YoY. Honor and LENOVO GROUP (00992.HK) accounted for 8.6% and 6.6% of market share, ranking fourth and fifth, respectively.
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Lisa Su, CEO of AMD (AMD.US), said at the AMD AI Developer Day that AI is already ubiquitous, projecting that 5 billion people will use AI on a daily basis over the next five years.

Regarding AMD's commitment to Greater China, she noted that the company has been deeply cultivating China market for more than three decades and steadfastly believed that China has become a key force driving the company's strategic deployment.

This strategy spans areas including chips, AI software and platform engineering, she said. In fact, AMD's Shanghai R&D center and China R&D center are among the company's largest R&D facilities globally.
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As Canada opens its market to electric vehicles (EVs) manufactured in China, Nissan Motor (7201.JP) is considering exporting vehicles produced in partnership with Dongfeng Motor to Canada, with potential markets also including Brazil and Mexico, Nissan's Americas Chairman Christian Meunier said.

Nissan's move reflects a shift in the global automotive industry, as traditional automakers are relying on China's lower production costs and faster EV development cycles to remain competitive. Nissan CEO Ivan Espinosa said the company plans to increase exports from China from an initial 100,000 vehicles to ultimately 300,000 vehicles.
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Google and Blackstone Inc. (BX.US) plan to establish a joint venture AI cloud company to vie with companies such as CoreWeave, Inc. (CRWV.US), according to the Wall Street Journal.

Blackstone Inc. will provide USD5 billion in equity capital and hold a majority stake, with the venture expected to support approximately USD25 billion in computing power investments.

The joint venture will adopt Google's proprietary chips with an aim to achieve 500 megawatts of computing power by next year, roughly equivalent to the electricity consumption of a mid-sized city. Over time, the company will sharply expand its computing capacity.

Google will provide hardware, software and services to the joint venture, while senior Google executive Benjamin Treynor Sloss will serve as the new company's CEO.
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A US jury ruled against Elon Musk in his lawsuit against OpenAI, finding that OpenAI should not be held liable to Musk over allegations that it had deviated from its original mission to benefit humanity.

The ruling paves the way for OpenAI to pursue a public listing, with the IPO potentially valuing the company at as much as USD1 trillion.

Musk said he would appeal the decision, reiterating that OpenAI CEO Sam Altman and President Greg Brockman have treated OpenAI as a vehicle for personal enrichment.
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Meta Platforms, Inc. (META.US) issued a memo to employees detailing this week's layoff plan, Reuters reported. While implementing global workforce reductions, the company will also carry out a new round of restructuring aimed at improving its AI workflow.

Meta plans to reassign 7,000 employees to new projects related to AI workflow and eliminate management positions, according to the memo. The layoffs and reassignments will affect about 20% of the company's workforce.

Some of the reassignments have already been completed, while the remaining employees will be notified on Wednesday (20th). Moreover, Meta will close another 6,000 job vacancies.
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ASMPT (00522.HK) opened flat today and once hit an intraday high of HKD182.4. It last traded at HKD179.2, up 4.19%, with 2.2899 million shares traded, involving HKD406 million.

The US reportedly approved the export of Nvidia (NVDA.US) H200 chips to 10 Chinese companies, with a cap of 75,000 units per company, Citi said in its report. The total import volume of 750,000 units is in line with industry expectations.

Although the approval of H200 may have a short-term negative impact on domestic AI accelerator vendors, foundries and wafer fabrication equipment suppliers, the 750,000 units are way less than China's AI chip demand, the broker said. China is still expected to meet demand through domestic accelerators, and the localization process of AI will not be hampered.

Citi added that the H200 approval is slightly positive for server suppliers and MONTAGE TECH (06809.HK), as it is expected to drive demand for memory interfaces and PCIe Retimers. The broker also noted that capex by Chinese cloud service providers (CSPs) remains strong. BABA-W (09988.HK), TENCENT (00700.HK) and ByteDance raised their capex, which is expected to further boost demand across the domestic supply chain.

Citi's top picks are ASMPT (00522.HK) (TP raised to HKD180) and SG (300661.SZ), citing improving industry prospects and better risk/ reward.
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Warren Buffett's investment flagship Berkshire Hathaway Inc. (BRK.A.US) disclosed its latest holdings, revealing that it spent USD2.65 billion in 1Q to acquire Delta Air Lines, Inc. (DAL.US) and also initiated a position in Macy's Inc (M.US), holding 3 million shares.

Meanwhile, Berkshire Hathaway Inc. fully exited its positions in Amazon.com, Inc. (AMZN.US), UnitedHealth Group Incorporated (UNH.US), Visa Inc. (V.US) and Mastercard Incorporated (MA.US).

According to regulatory filings, Berkshire Hathaway Inc. bought USD15.94 billion worth of equities and sold USD24.09 billion worth of equities in 1Q. During the period, it substantially increased its stake in Alphabet Inc. (GOOGL.US), with total holdings reaching USD16.6 billion in value.

Berkshire Hathaway Inc.'s larger holdings include Apple Inc. (AAPL.US), American Express Company (AXP.US), Coca-Cola Company (KO.US), Bank of America Corporation (BAC.US) and Chevron Corporation (CVX.US).
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