Stick with long-term structural themes amid global uncertainty: Goldman Sachs

• Long-term structural themes like energy security, defense, US re-industrialization, and the semiconductor memory cycle are compelling.
• Korean markets, especially semiconductor stocks, show strong aggregate earnings growth forecasts (over 200% for 2026).
• China's A-share market is favored due to energy self-reliance, positive producer price inflation, policy support for heavy industry, and low foreign ownership/S&P correlation.

Goldman Sachs' Timothy Moe highlights compelling long-term structural themes amidst global uncertainty, including energy security, defense, US re-industrialization, and the semiconductor memory cycle. He expresses bullish sentiment on Korean markets, particularly semiconductors, and China's A-share market due to self-reliance strategies and policy support.