惠誉：随着日本国内利率上升提振利差、投资收益和客户收入，日本大型银行的盈利能力可能进一步改善。

Weice Technology said domestic leading compute customers are largely onboarded, with engagement stages varying: some customers in mass production, some in engineering, others in development. Overall progress is smooth; several customers are expected to ramp volumes in Q4 2026 and into 2027. Storage-related revenue accounted for about 5% of sales in the first three quarters, mainly from NOR Flash testing and testing of MCUs and SoCs with integrated storage. Some NAND test tools are compatible with NOR Flash, but DRAM testing requires procurement of higher-end, more expensive dedicated equipment. The company is conducting preliminary NAND engineering cooperation with several existing storage customers.

CITIC Securities says that with macro uncertainty concentrated in 2027 from geopolitical and liquidity risks, investors should focus on high‑certainty fundamental trades. Priority themes: oil and gold — oil is expected to be skewed to the upside amid low inventories and elevated disruption risk, while gold is underpinned by core safe‑haven buying but likely needs a stagflation shock to trigger a sustained rebound; supply‑constrained commodities including copper, rubber, MDI and fluorochemicals; demand‑driven winners such as coal chemicals, viscose filament/short‑staple fibre and strategic metals; and price‑resilient, strong‑valuation dividend sectors including coal and electrolytic aluminium.