Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Today after the close <a href="https://www.smartkarma.com/entities/stanley-electric-co-ltd" target="_blank" data-smartkarma-citation="entities:1330:1" rel="noopener">Stanley Electric (6923 JP)</a> announced a salutary Q1 result which was "ahead of in-line" in most metrics towards unchanged H1 and FY guidance. </li>
<li>The company also announced a BIG on-market buyback at 8.1% of shares out, to be bought back with a delayed start over the 7.5mos starting 13 August.</li>
<li>At last price, the buyback is ~10mm shares. The details are interesting and are worth a look. </li>
</ul>


Today after the close Stanley Electric (6923 JP) announced a salutary Q1 result which was "ahead of in-line" in most metrics towards unchanged H1 and FY guidance. 
The company also announced a BIG on-market buyback at 8.1% of shares out, to be bought back with a delayed start over the 7.5mos starting 13 August.
At last price, the buyback is ~10mm shares. The details are interesting and are worth a look. 


Stanley Electric (6923) - Salutary Q1 and BIG Buyback

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>The Japanese stock market posted solid gains over the past week, with the Topix rising 3.3% and the Nikkei advancing 1.7%</li>
<li>The Bank of Japan maintained its key short-term interest rate at  0.5% in March, given a cautious view over the global macro outlook</li>
<li>
 MHI shares rose 16% this week, driven by optimism over Japan’s nuclear energy expansion plans and rising defense commitments.</li>
</ul>


The Japanese stock market posted solid gains over the past week, with the Topix rising 3.3% and the Nikkei advancing 1.7%
The Bank of Japan maintained its key short-term interest rate at  0.5% in March, given a cautious view over the global macro outlook

 MHI shares rose 16% this week, driven by optimism over Japan’s nuclear energy expansion plans and rising defense commitments.


Japan Strategy Weekly | Banks & Traders Rally

<ul>
<li>As designed, the JPX-Nikkei400 Index is something of a disaster. It aims to be slightly 'smart' vs other cap-weighted indices like TOPIX, but tracking error vs TOPIX is de minimus.</li>
<li>This year, in week 1, the ADD vs DELETE performance is positive. If we sector-hedge the ADDs vs DELETEs, it's doing even better.</li>
<li>This is probably due to relatively low pre-positioning, and cares. Momentum suggests one could be long ADDs vs DELETEs. And there is the perennial trade to watch out for.</li>
</ul>


As designed, the JPX-Nikkei400 Index is something of a disaster. It aims to be slightly 'smart' vs other cap-weighted indices like TOPIX, but tracking error vs TOPIX is de minimus.
This year, in week 1, the ADD vs DELETE performance is positive. If we sector-hedge the ADDs vs DELETEs, it's doing even better.
This is probably due to relatively low pre-positioning, and cares. Momentum suggests one could be long ADDs vs DELETEs. And there is the perennial trade to watch out for.


2022 JPX Nikkei 400 Rebal Update - Going the Right Way

David Blennerhassett

Last Week in Event SPACE: ARA Logos/ESR-REIT, Z Energy, Ausnutria, MatsukiyoCocokara

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Our bullish outlook continues to be supported by ongoing positive market dynamics and the absence of breakdowns for major indexes around the globe. The path of least resistance remains higher and we continue to believe a melt-up is likely in the weeks/months ahead. The global Technology, Discretionary, and Manufacturing Sectors remain leadership -- add exposure/remain overweight. The Financial Sector has been playing catch-up and continues to show signs of price and RS bottoms as expectations rise for a global recovery -- add exposure.

Our bullish outlook continues to be supported by ongoing positive market dynamics and the absence of breakdowns for major indexes around the globe. The path of least resistance remains higher and we continue to believe a melt-up is likely in the weeks/months ahead. The global Technology, Discretionary, and Manufacturing Sectors remain leadership -- add exposure/remain overweight. The Financial Sector has been playing catch-up and continues to show signs of price and RS bottoms as expectations rise for a global recovery -- add exposure.

Global Equity Strategy: Santa Claus Rally Underway

Japan

Stanley Electric Co., Ltd. manufactures lighting equipment including head lights, HID (High Intensity Discharge) assist lamps, and rear combination lamps for automobiles.  The Company also produces LCD (Liquid Cristal Display) and LED (Light Emitted Diode) lamps for communication equipment, office automation equipment, and information displays.

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Stanley Electric (6923 JP)

Stanley Electric (6923) - Salutary Q1 and BIG Buyback

Stanley Electric had a decent Q1 and announced a big buyback. The buyback is probably bigger than followers of the company expected, but it is far...

Travis Lundy

Japan Strategy Weekly | Banks & Traders Rally

Japanese stock market sees solid gains, Bank of Japan holds interest rate, MHI shares surge on nuclear energy and defense optimism.

Mark Chadwick

2022 JPX Nikkei 400 Rebal Update - Going the Right Way

JPX Nikkei 400 rebalance is going the right way in the 6 trading days so far, and it wasn't done on Day1 (which was lacklustre). It may be under...

Travis Lundy

Last Week in Event SPACE: ARA Logos/ESR-REIT, Z Energy, Ausnutria, MatsukiyoCocokara

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Global Equity Strategy: Santa Claus Rally Underway

Our bullish outlook continues to be supported by ongoing positive market dynamics and the absence of breakdowns across indexes, and we continue to...

Vermilion Research

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52-week Range

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Stanley Electric (6923) - Salutary Q1 and BIG Buyback

Stanley Electric had a decent Q1 and announced a big buyback. The buyback is probably bigger than followers of the company expected, but it is far...

Travis Lundy

Japan Strategy Weekly | Banks & Traders Rally

​Japanese stock market sees solid gains, Bank of Japan holds interest rate, MHI shares surge on nuclear energy and defense optimism.

Mark Chadwick

2022 JPX Nikkei 400 Rebal Update - Going the Right Way

JPX Nikkei 400 rebalance is going the right way in the 6 trading days so far, and it wasn't done on Day1 (which was lacklustre). It may be under...

Travis Lundy

Last Week in Event SPACE: ARA Logos/ESR-REIT, Z Energy, Ausnutria, MatsukiyoCocokara

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Global Equity Strategy: Santa Claus Rally Underway

Our bullish outlook continues to be supported by ongoing positive market dynamics and the absence of breakdowns across indexes, and we continue to...

Vermilion Research

Japanese stock market sees solid gains, Bank of Japan holds interest rate, MHI shares surge on nuclear energy and defense optimism.