Nvidia increases stock buyback authorization by $150 billion

(1) Japanese oil refiner Taiyo Oil stated that Japan should continue to rely on the Middle East as its main source of crude oil supply, as this is more cost-effective. The company expressed its opposition to the Japanese government's approach of diversifying crude oil supply sources due to the US-Iran conflict. (2) The CEO of Taiyo Oil said Japan's national strategy should focus on procuring crude oil at the lowest possible cost during peacetime, while maintaining the flexibility to access alternative supplies in times of crisis. (3) He said: "I am concerned about the excessive push for diversification in crude oil procurement, as it would create significant costs for society during normal times. A better approach for Japan is to continue relying on Middle Eastern crude oil, which accounts for over 90% of our supply."

Spot platinum has just surpassed the $1,720.00/oz mark, now quoted at $1,720.10/oz, up 1.16% for the day; Nymex platinum futures main contract is currently at $1,729.8/oz, up 1.75% for the day.

The Brazil ETF listed in Japan rose by 7.6%, following Bolsonaro's lead in the election.

According to reports from the Zhihu Finance APP, Morgan Stanley has released its latest research report, once again listing chip giant Nvidia (NVDA.US) as its top pick in the semiconductor sector, maintaining an “Overweight” rating and setting a price target of $300. The institution believes that the industry bottleneck is rapidly shifting from semiconductor production capacity constraints to the pace and financing model of building new data centers. Nvidia, leveraging its product architecture, global client ecosystem, and strong financing support capabilities, is well positioned to capitalize on the industry's dividends. Morgan Stanley is also optimistic about incremental gains from Muse smart agents and new customer collaborations, suggesting further upside potential in the company’s valuation. The bank emphasizes that Nvidia is currently trading at only 15 times the projected FY2028 earnings per share, making the valuation highly attractive, and even if the price-to-earnings ratio does not expand, robust earnings growth alone could provide solid investment returns.