Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Founder & Head of Research

Fortress Hill Advisors

Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

Premium Economic & Investment Research

Cross Asset Strategy

<ul>
<li>Ever since the Hang Seng touches new high of 32,601 in February 2018, it has trended down  to 17,417 on latest trading day.</li>
<li>Whether it can touch new high again depending on the revision of Mainland authorities' policy towards big private enterprises and China's future growth rate</li>
<li>Local drivers such as Hong Kong GDP growth also play surprisingly important role in the performance of Hang Seng Index.</li>
</ul>


Ever since the Hang Seng touches new high of 32,601 in February 2018, it has trended down  to 17,417 on latest trading day.
Whether it can touch new high again depending on the revision of Mainland authorities' policy towards big private enterprises and China's future growth rate
Local drivers such as Hong Kong GDP growth also play surprisingly important role in the performance of Hang Seng Index.


Will the Hong Kong Stock Market Ever Return to Previous Height?

Macroeconomics

<ul>
<li>John Greenwood, the Father of the Hong Kong Linked Exchange Rate System, has formed a model for debt crisis. And that framework is predicting monetary contraction in the U.S. economy.</li>
<li>As leveraging goes down and the monetary conditions contract, the market can experience a sharp correction in stage 3.</li>
<li>Since the monetary conditions in the U.S. easily find its way to Hong Kong through the Linked Exchange Rate System, There might be a rough outlook ahead for Hong Kong.</li>
</ul>


John Greenwood, the Father of the Hong Kong Linked Exchange Rate System, has formed a model for debt crisis. And that framework is predicting monetary contraction in the U.S. economy.
As leveraging goes down and the monetary conditions contract, the market can experience a sharp correction in stage 3.
Since the monetary conditions in the U.S. easily find its way to Hong Kong through the Linked Exchange Rate System, There might be a rough outlook ahead for Hong Kong.


John Greenwood Model of Debt Crisis in Three Phases

Ortus Advisors

Andrew Jackson

Independent Insight Provider

Thematic (Sector/Industry)

<ul>
<li>The market had mixed results with SOX +0.51%, Nasdaq -0.7%, SPX -0.78%, and Russell -1.85%. UST10 yields rose 1.07% to 4.2%, and the yen weakened to 157.36. </li>
<li>Commodities saw copper -2.6%, nickel -0.2%, and Brent crude -0.34%. Tech stocks varied, with Monolithic Power and Broadcom up while power semis fell. Semiconductors started strong but ended mixed.</li>
<li>Japanese homebuilders with large US exposures may be strong. 6146 Disco expected to dip. Intuitive Surgical rose 5% on strong 2Q results, which could positively impact 6988 Sysmex. </li>
</ul>


The market had mixed results with SOX +0.51%, Nasdaq -0.7%, SPX -0.78%, and Russell -1.85%. UST10 yields rose 1.07% to 4.2%, and the yen weakened to 157.36. 
Commodities saw copper -2.6%, nickel -0.2%, and Brent crude -0.34%. Tech stocks varied, with Monolithic Power and Broadcom up while power semis fell. Semiconductors started strong but ended mixed.
Japanese homebuilders with large US exposures may be strong. 6146 Disco expected to dip. Intuitive Surgical rose 5% on strong 2Q results, which could positively impact 6988 Sysmex. 


Japan Morning Connection – 19 July, 2024

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

Hyundai Motor Company manufactures, sells, and exports passenger cars, trucks, and commercial vehicles. The Company also sells various auto parts and operates auto repair service centers throughout South Korea. Hyundai Motor provides financial services through its subsidiaries.

<ul><li>Micron is sampling MRDIMMs for AI and HPC applications, exploring innovative solutions for data processing needs.</li><li>Hyundai Motors plans to add 300 new charging stations to support the expansion of their hydrogen bus fleet, promoting eco-friendly transportation options.</li><li>German electrification struggle worsens with supplier bankruptcy up 60%, hindering the widespread adoption of electric vehicles and renewable energy technologies.</li></ul>

Micron is sampling MRDIMMs for AI and HPC applications, exploring innovative solutions for data processing needs.Hyundai Motors plans to add 300 new charging stations to support the expansion of their hydrogen bus fleet, promoting eco-friendly transportation options.German electrification struggle worsens with supplier bankruptcy up 60%, hindering the widespread adoption of electric vehicles and renewable energy technologies.

Tech Supply Chain Tracker (20-Jul-2024): Micron samples MRDIMMs for AI, HPC.

Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Cocrystal Pharma, Inc. operates as a biotechnology company. The Company focuses on developing novel antiviral therapeutics for hepatitis, influenza viruses, and noroviruses. Cocrystal Pharma serves patients in the United States.

<ul><li>On July 18, 2024, Cocrystal Pharma, Inc. (COCP) reported favorable safety and tolerability results from the single-ascending dose (SAD) cohorts of the Phase 1 study of CDI-988, the company's pan-viral protease inhibitor that is being developed as a treatment of norovirus and coronavirus.</li><li>The single center, randomized, double blind Phase 1 trial is evaluating the safety, tolerability, and pharmacokinetics of CDI-988 compared to placebo in healthy adults in doses ranging from 100 mg to 600 mg.</li><li>The results showed that all participants completed the study with no discontinuations and there were no serious adverse events or severe treatment-emergent adverse events.</li></ul>

On July 18, 2024, Cocrystal Pharma, Inc. (COCP) reported favorable safety and tolerability results from the single-ascending dose (SAD) cohorts of the Phase 1 study of CDI-988, the company's pan-viral protease inhibitor that is being developed as a treatment of norovirus and coronavirus.The single center, randomized, double blind Phase 1 trial is evaluating the safety, tolerability, and pharmacokinetics of CDI-988 compared to placebo in healthy adults in doses ranging from 100 mg to 600 mg.The results showed that all participants completed the study with no discontinuations and there were no serious adverse events or severe treatment-emergent adverse events.

COCP: Phase 1 Single-Ascending Dose Cohort of CDI-988 Shows it is Safe and Well Tolerated 

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