US mortgage rates rose to 6.49%, reversing last week's decline, as renewed US-Iran escalation raised concerns that oil prices and borrowing costs could climb. Freddie Mac said on Thursday its 30-year fixed-rate mortgage average rose to 6.43% from a week earlier; it was 6.72% a year ago. The conflict since late February has weighed on the housing market, and hopes that a prior ceasefire would ease geopolitical risk and stabilise borrowing costs have dimmed after this week's escalation. High mortg

A-shares storage-chip sector surged. Tianshan Electronics hit a 20% limit-up; Zhongjing Electronics earlier reached a limit-up. Puran, Youyan Silicon, Hengkun New Materials, Shangluo Electronics, Shengong and Shanghai Sinyang all gained over 10%.

NVIDIA has materially underperformed the broader chip sector year-to-date, but BofA calls the weakness a more attractive buy than a risk signal. Analyst Vivek Arya concedes real investor concerns — notably rising HBM costs — but says the market has overreacted and underestimated NVIDIA's pricing power, scale and roughly $119 bln of supply commitments. He expects next‑generation Rubin pricing could be meaningfully higher than current Blackwell products, allowing the company to offset higher HBM costs and sustain gross margins in the mid‑70s pct range. Arya also downplays custom‑chip competition (e.g., Google/Broadcom TPU), noting TPU has existed for >10 years while NVIDIA GPU revenue grew ~700x; he projects NVIDIA will capture about 65–70% of hyperscaler AI infrastructure spend over the long term. NVIDIA trades at a forward P/E of ~18.69x, roughly half its 10‑year average and near an 11‑year trough.