Category

Thematic (Sector/Industry)

Apr 02
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | No Hurry to Cut Rates and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | No Hurry to Cut Rates
  • Mining Monthly: March Edition
  • Weekly Sustainable Investing Surveyor – Week Ended March 28, 2024
  • The Highlights – Cannabis News for the Week Ending March 29, 2024

Ohayo Japan | No Hurry to Cut Rates

By Mark Chadwick

  • US stocks closed mixed to start the second quarter of 2024 amid rising US treasury yields
  • In Japan, 191 companies announced stock splits in the fiscal year, up 60% from last year, aiming to attract retail investors by lowering prices
  • Tokyo Electron Ltd. [8035] will provide an additional 590 billion yen ($3.89 billion) in support to chipmaker Rapidus in fiscal 2024

Mining Monthly: March Edition

By Atrium Research

  • Following a long period of consolidation, gold broke out in March, hitting record highs, and continuing to push higher as we enter April.
  • Silver and copper also had strong months up 10% and 4%, respectively.
  • More notably, we are finally seeing the equities outperform their underlying metal price with the GDX, SIL, and COPX up 22.7%, 21.1% and 19.4%, respectively, significantly outperforming broader markets.

Weekly Sustainable Investing Surveyor – Week Ended March 28, 2024

By Water Tower Research

  • The WTR Sustainable Index was up by 1.5% W/W versus the S&P 500 Index (up 0.4%), the Russell 2000 Index (up 2.5%), and the Nasdaq Index (down 0.5%).
  • Energy Technology (13.2% of the index) was up by 4.1%, while Industrial Climate and Ag Technology (56.8% of the index) was up by 1.3%, ClimateTech Mining was down 3.5%, and Advanced Transportation Solutions (24.0% of index) was up 1.0%.
  • Top 10 Performers: KULR, OUST, NKLA, CRGE, SUNW, SX, NVVE, REX, SLDP, EXRO

The Highlights – Cannabis News for the Week Ending March 29, 2024

By Water Tower Research

  • It was another strong week for cannabis stocks, with the US cannabis MSOS ETF gaining 4.05%.

  • The fund added $3.6 million in inflows last week. The global YOLO ETF climbed 6.22%, as several Canadian companies outperformed.

  • AYR Wellness (CSE: AYR, OTCQX: AYWRF) had the best week, rising 23.64%. CEO David Goubert will be joining us on Higher Exchanges on Thursday. 

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Apr 01
0

Daily Brief Thematic (Sector/Industry): Semiconductor Real Time Indicators Update and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Semiconductor Real Time Indicators Update
  • Ohayo Japan | US PCE In-Line with Expectations
  • China Property Developers In Distress – Weekly News & Announcements Tracker | Mar 22-28, 2024

Semiconductor Real Time Indicators Update

By William Keating

  • Taiwan companies are required to report revenue on a monthly basis. These updates can help us understand how a given quarter is progressing & predict quarterly earnings ahead of time
  • Initially we focused on MoM %  increase/decrease. This is useful, but one needs to account for anomalies such as seasonality and potential non-linearity month to month within a given quarter 
  • We now also provide the monthly YoY revenue comparison. This eliminates anomalies due to both seasonality and intra-quarter non-linearity, enabling a clearer perspective on where the industry is at. 

Ohayo Japan | US PCE In-Line with Expectations

By Mark Chadwick

  • The personal consumption expenditures price index, which excludes food and energy, rose by 2.8% YoY, meeting expectations. Compared to the previous month, it also went up by 0.3%, as predicted.
  • The ratio of cashless payments to total consumption in Japan hit a record high of 39.3% in 2023, marking a 3.3 percentage point increase from the previous year
  • Denso announced its decision to divest all Toyota Industries shares; Miura Kogyo announced its acquisition of Cleaver-Brooks, a US-based company  

China Property Developers In Distress – Weekly News & Announcements Tracker | Mar 22-28, 2024

By Robert Ciemniak

  • This note is a weekly curated selection of Chinese news articles and company announcements focused on developers in distress
  • We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
  • We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to sources

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Mar 30
0

Daily Brief Thematic (Sector/Industry): Missed The AI Mania Surge? Here’s A Few Options Still Worth Considering and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Missed The AI Mania Surge? Here’s A Few Options Still Worth Considering
  • Introducing a Data Source for Korean Local Institutions’ Interests
  • Japan Weekly | Stocks Take a Break After Rising +17% in Q1
  • [Blue Lotus Daily]:LI/ 1211 HK/ XPEV/ NIO
  • [Blue Lotus Daily – TMT Update]:NTES/BABA

Missed The AI Mania Surge? Here’s A Few Options Still Worth Considering

By William Keating

  • It’s probably not a good idea to chase the AI mania surge by buying the likes of NVIDIA, AMD, Micron etc at their currently highly elevated share prices
  • Taiwan has a large ecosystem of semiconductor companies many of which are critical to the AI hardware supply chain
  • We present a range of options with exposure to AI hardware for your consideration including foundry, fabless IC design, server BMC & Copper Clad Laminate

Introducing a Data Source for Korean Local Institutions’ Interests

By Sanghyun Park

  • Recent trends in the most viewed local brokerage research reports by Korean institutions, compiled by FnGuide, offer insights into current investor interests.
  • Notable resurgence in local institution interest in the semiconductor sector, especially with the temporal gap until May when the Value-up momentum materializes, notably evident in the AI semiconductor rally companies.
  • Local institutions typically follow stocks of their interest with a slight lag. This suggests potential positive flows in the listed semiconductor companies until the Value-up momentum solidifies in May.

Japan Weekly | Stocks Take a Break After Rising +17% in Q1

By Mark Chadwick

  • The broader Topix index declined by 1.6% on the week, but remains up 17% year-to-date.
  • Shares in Koito rose 26% after the company unveiled a new MTP and a substantial ¥50 billion stock buyback program.
  • We believe that the med-tech space is worth watching. Nippon Active Value, Asset Value Investors and ValueAct are all now involved in the space. 

[Blue Lotus Daily]:LI/ 1211 HK/ XPEV/ NIO

By Eric Wen

  • LI/ 1211 HK/ XPEV/ NIO: In the 12th week of 2024, new energy vehicles continued to maintain steady growth, BYD once again led and Li fell behind again（///////）
  • 1211 HK : China to challenge Biden’s electric vehicle plans at the WTO (+)
  • NIO US: NIO US revised down C1Q24 delivery target. (+)

[Blue Lotus Daily – TMT Update]:NTES/BABA

By Ying Pan

  • NTES：Source stated that NetEase is developing a 6V6 Marvel IP third-person shooter game.（+）
  • BABA US : Analyst Call hosted by Alibaba regarding the withdrawal of the Cainiao IPO？（/）
  • BABA US : Alibaba to launch LLM for advertising. (+)

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Mar 29
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | S&P Hits Record: Japan Passes Budget and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | S&P Hits Record: Japan Passes Budget
  • AUCTUS ON FRIDAY – 28/03/2024
  • [Blue Lotus Daily]:1810 HK/ATAT/LI/XPEV/NIO/1211 HK

Ohayo Japan | S&P Hits Record: Japan Passes Budget

By Mark Chadwick

  • US Market Wrap: S&P 500 hits record, Dow inches higher; tech stocks lag.
  • Japan Budget: Parliament passes ¥112 trillion budget, emphasizing defense spending, inflation mitigation, and earthquake recovery.
  • Stocks Update: Mercari introduces Eco Mercari Delivery; Kubota’s construction equipment business grows; Mitsubishi Electric expands digital workforce.

AUCTUS ON FRIDAY – 28/03/2024

By Auctus Advisors

  • ADX Energy (ADX AU)C; target price of A$1.00 per share: Logging results at Welchau further derisk the discovery – The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with hydrocarbon shows between 1346 m and 1702 m measured depth.
  • This represents 356 m of gross interval across three interpreted lithological sequences.
  • This compares with only 115 m of liquids-rich gas shows announced previously.

[Blue Lotus Daily]:1810 HK/ATAT/LI/XPEV/NIO/1211 HK

By Eric Wen

  • 1810 HK: Multiple reports show that Xiaomi‘s new car reservations very popular, but is it effective to skip professional test drives and directly market to the car buyers?（/）
  • ATAT: Atour tests a 50% discount promotion on Sunday, bodes well for occupancy rates and revenue.(+)
  • LI/1810 HK/XPEV/NIO/1211 HK:The Cyberspace Administration of China publishes regulations on cross-border data flows, which may clear the way for Tesla FSD to enter China（////-/-//）

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Mar 28
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks Set New Record and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Stocks Set New Record
  • Global Semiconductors: Winners Emerge as Fund Allocations Hit Record Highs
  • [Blue Lotus Daily – TMT Update]BABA/BIDU/PDD/1024 HK/3690HK

Ohayo Japan | Stocks Set New Record

By Mark Chadwick

  • US stocks rebounded Wednesday, with the S&P 500 setting a new record and the Dow surging over 475 points.
  • Japan plans to ease residency rules for foreign entrepreneurs, expanding eligible funding sources to meet capital requirements, often challenging for startups.
  • Mitsubishi Heavy Industries (7011) aims to develop a next-generation airliner by 2035, involving multiple private-sector companies.

Global Semiconductors: Winners Emerge as Fund Allocations Hit Record Highs

By Steven Holden

  • Semiconductor Sector Hits Historic Highs: Record allocations highlight investor confidence in the sector as second phase of bull market drives allocations to fresh peak.
  • Country Dynamics Shift: Peak Ownership in Taiwan, USA, Netherlands, while German Semiconductor holdings see strategic pullback through Infineon closures.  
  • TSMC, ASML, and NVIDIA establish dominance, reflecting investors’ preference for companies at the forefront of technological innovation, while traditional players like Infineon, Intel, and Texas Instruments face declining investor interest.

[Blue Lotus Daily – TMT Update]BABA/BIDU/PDD/1024 HK/3690HK

By Ying Pan

  • BABA/BIDU: Alibaba and Baidu follow up on long text LLM, the rise of startups is negative for Baidu（//-）
  • BIDU: Apple and Baidu Held Talks on Ernie Bot Pre-Installing IPhone IOS18（+）
  • BABA/PDD: Alibaba opens direct from factory 1688 store on Taobao (+/-)

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Mar 27
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Nvidia Loses Steam and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Nvidia Loses Steam
  • SC on Standardisation Rate for Medical Procedures: Likely Impact on Listed Hospital Players
  • Weekly Sustainable Investing Surveyor – NWeek Ended March 22, 2024

Ohayo Japan | Nvidia Loses Steam

By Mark Chadwick

  • The S&P 500 closed lower for the third consecutive session. Consumer confidence slips to lowest level since November
  • Meiji’s chocolate-themed “Mushroom Mountain” earphones vanished in 10 minutes, leaving fans craving more of the sweet sound experience.
  • Kirin’s “Sunny Wind” beer blows in with a refreshing taste and a breeze of tradition preservation.

SC on Standardisation Rate for Medical Procedures: Likely Impact on Listed Hospital Players

By Nimish Maheshwari

  • Supreme Court’s warning to enforce CGHS rates on private hospitals sparks market concerns, leading to a significant correction in hospital company stock prices.
  • Failure to standardize hospital pricing raises questions about patient affordability, quality of healthcare, and financial viability of private hospitals, impacting investors and healthcare consumers alike.
  • Explore the complexities of healthcare regulation, implications for hospital companies, and potential investment opportunities amid the evolving landscape of standardized medical treatment costs.

Weekly Sustainable Investing Surveyor – NWeek Ended March 22, 2024

By Water Tower Research

  • The WTR Sustainable Index was down by 1.1% W/W versus the S&P 500 Index (up 2.3%), the Russell 2000 Index (up 1.6%), and the Nasdaq Index (up 3.0%).
  • Energy Technology (12.5% of the index) was up by 1.5%, while Industrial Climate and Ag Technology (55.5% of the index) was up by 1.4%, ClimateTech Mining was down 3.0% and Advanced Transportation Solutions (24.2% of index) was down 8.1%.
  • Top 10 Performers: GOEV, AMTX, ZEV, LICY, LIDR, EVTV, FFIE, KULR, MVST, NEOV

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Mar 26
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Wall Street Ends Lower and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Wall Street Ends Lower
  • Global Easing Combined with a Resumption of Industrial Growth Is a Good Set-Up for Commodities
  • Furniture/Furnishings Weekly – SCS Results In Line; Home Sales Surprise on the Upside

Ohayo Japan | Wall Street Ends Lower

By Mark Chadwick

  • US stocks lost ground on Monday, the start of a holiday-shortened week, as investors await Friday’s inflation data
  • The Personal Consumption Expenditures (PCE) report is due on Friday, despite it being a market holiday. Core PCE expected to be up 2.8%
  • IHI Corp (7013) anticipates a 110 billion yen operating profit in fiscal year ending March 2025, rebounding from an 80 billion yen loss due to engine quality issue

Global Easing Combined with a Resumption of Industrial Growth Is a Good Set-Up for Commodities

By Rikki Malik

  • Central banks have set the stage for the next inflationary wave by moving to an easing bias despite higher inflation
  • The Federal Reserve, the BoJ, the ECB and the SNB all tilt to easing
  • US deficit spending together with China and Germany exiting an industrial recession bode well for industrial commodities

Furniture/Furnishings Weekly – SCS Results In Line; Home Sales Surprise on the Upside

By Water Tower Research

  • Steelcase delivered a solid fourth quarter and provided guidance consistent with our pre-release outlook.
  • Orders and pre-order customer activity remains positive. The results confirm that the post-pandemic slump in office furniture is ending, if not over.
  • Corporate customers are more active, particularly in the US.

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Mar 25
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | New Tech Highs and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | New Tech Highs
  • Siltronic To Exit Small Diameter Wafer Market by 2025
  • Social Surge

Ohayo Japan | New Tech Highs

By Mark Chadwick

  • US stocks closed mixed on Friday with the Nasdaq Composite hitting a new high amidst optimism over a potential reversal in interest rate hikes
  • Analysts anticipate a 10% rise in EPS for the Nikkei’s 225 constituents in fiscal 2024, with electronics and precision instruments leading the charge, driven by expected semiconductor demand growth
  • ANA Holdings, parent company of All Nippon Airways, announced plans to slash daytime air cargo rates, aligning them with trucking costs, in anticipation of an impending truck driver shortage

Siltronic To Exit Small Diameter Wafer Market by 2025

By William Keating

  • Ferrotec’s production of 150mm wafers in China has increased >6x since 2019
  • Siltronic’s production of 150mm and smaller wafer diameters is no longer profitable
  • China likely now self-sufficient in the supply of 150mm and smaller diameter silicon wafers. Next milestone: 200mm wafers. 

Social Surge

By subSPAC

  • The last week was packed with SPAC activity including deals, terminations, and new IPOs.
  • A high-profile SPAC merger was approved by shareholders potentially netting billions to the former president.
  • Also, a sustainable plastics company terminates a previously announced deal, and a SPAC plans to take an IoT-focused firm public. 

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Mar 24
0

Daily Brief Thematic (Sector/Industry): [Blue Lotus Daily – TMT Update]:SHEIN/PDD/NTES/6618 HK and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • [Blue Lotus Daily – TMT Update]:SHEIN/PDD/NTES/6618 HK

[Blue Lotus Daily – TMT Update]:SHEIN/PDD/NTES/6618 HK

By Ying Pan

  • SHEIN/PDD: France to restrict sales of fast – fashion (-/-)
  • NTES: After The Release of The New Expansion Pack For <Beyond the World>, It Climbed to the 3rd Position on iOS Games Grossing Chart in China (+)
  • 6618 HK：JD Health’s revenue in 2H23 exceeded expectations, while profits fell short, and revenue and profit guidance for 2024 both worse than consensus（-）

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Mar 23
0

Daily Brief Thematic (Sector/Industry): Japan Weekly | Real Estate Inflates; Nidec Benefits from AI and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Japan Weekly | Real Estate Inflates; Nidec Benefits from AI
  • [Blue Lotus Daily]300274SZ/300750SZ/LI/NIO/1211HK/Huazhu/Atour/XPEV/9926 HK
  • AUCTUS ON FRIDAY – 15/03/2024
  • Tech Talk – WTR Technology Conference – AI and Crypto

Japan Weekly | Real Estate Inflates; Nidec Benefits from AI

By Mark Chadwick

  • The Nikkei and Topix indexes surged by 5.63% and 5.33% reaching all-time highs
  • Real Estate majors were the biggest movers in Japan. Beneficiaries of higher inflation and continuation of easy monetary policy
  • Nidec is reinventing itself again. EV traction motors will remain a core driver, but investors can now get excited by the AI thematic

[Blue Lotus Daily]300274SZ/300750SZ/LI/NIO/1211HK/Huazhu/Atour/XPEV/9926 HK

By Eric Wen

  • 300274SZ/300750SZ/LI/NIO/1211HK: Jan+Feb new energy export data show that wind power is picking up, and inverters has reached inflection point, while lithium batteries and electric vehicles are exchanging prices for volume(+/-/-/-/-)
  • Huazhu/Atour: Huazhu guided conservative RevPAR outlook for 2024, citing weak business travel demand.（-）
  • LI/1211 HK/XPEV/NIO: In 2024’s 11th week, BYD continued to accelerate while fell back, yet the overall acceleration of new energy vehicles bodes well for the whole year (/)

AUCTUS ON FRIDAY – 15/03/2024

By Auctus Advisors

  • ADX Energy (ADX AU) C ; target price of A$1.00 per share: Very high impact exploration well encounters gas and condensate in Austria – The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and 1567 m.
  • The deepest gas shows were encountered at a depth of 1645 m.
  • The well has reached TD at 1733 m. The Steinalm Formation intersection in the well is in line with the pre-drill prognosis.

Tech Talk – WTR Technology Conference – AI and Crypto

By Water Tower Research

  • Artificial intelligence (AI) is all the buzz, but for good reason.
  • AI is being used to automate and optimize many tasks previously thought to be beyond computers.
  • WTR will be hosting a hybrid conference on April 10-11 in New York City to discuss how AI can propel the business prospects of smaller companies. 

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