Category

Thematic (Sector/Industry)

Mar 22
0

Daily Brief Thematic (Sector/Industry): Show Me The (Dividend) Money (Part II) – Play on Japanese High Dividend Yielding Stocks and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Show Me The (Dividend) Money (Part II) – Play on Japanese High Dividend Yielding Stocks
  • Ohayo Japan | Stock Surge
  • Japan No Longer Cheap, at Fair Value Territory. Time to Be Selective!

Show Me The (Dividend) Money (Part II) – Play on Japanese High Dividend Yielding Stocks

By Mohshin Aziz

Ohayo Japan | Stock Surge

By Mark Chadwick

  • Stocks continued their upward trajectory on Thursday, extending gains from the previous session to reach new record highs.
  • Micron Technology soared 14% on strong earnings, bolstering the semiconductor sector, while megacap tech stocks like Microsoft contributed to gains
  • The U.S. has accused Apple (AAPL -4.09%) of monopolizing the smartphone market, potentially upending the tech giant’s business model

Japan No Longer Cheap, at Fair Value Territory. Time to Be Selective!

By Mohshin Aziz

  • Tokyo Stock Exchange (TSE) and Bank of Japan (BOJ) coordinated efforts are working: deflation is over,  equity values surging, and cash ratio as percentage of household assets is declining  
  • Japanese investors’ participation in the equity run is modest, foreigners are buying more. While it seems unlikely at the moment, the pertinent question remains, “When will they stop dancing?”         
  • Valuations are on par with historical averages and at similar gaps against developed market peers. The easy money had been made, Japan should be moved to tactically NEUTRAL soon.      

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Mar 21
0

Daily Brief Thematic (Sector/Industry): Contrarian Moves: Promoter Buying During Indian Equity Downturns and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Contrarian Moves: Promoter Buying During Indian Equity Downturns
  • Bank of Jiujiang – Rare Announcement Expecting at Least 30% Profit Decline
  • Ohayo Japan | Fed Holds the Line
  • [Blue Lotus Daily – TMT Update]:NTES/ZTO/1519 HK/BABA/PDD/3690 HK/SHEIN
  • [Blue Lotus Daily]：300750 SZ/NIO/BGNE/1810 HK

Contrarian Moves: Promoter Buying During Indian Equity Downturns

By Nimish Maheshwari

  • Promoter buying reflects insider confidence in the company’s future, often driven by access to undisclosed positive developments and growth opportunities.
  • Increased promoter stake may indicate that the market has undervalued the company, potentially presenting an opportunity for investors to buy at a discount.
  • Consider the broader market environment, company fundamentals, and industry trends alongside promoter buying activity to form a comprehensive investment thesis.

Bank of Jiujiang – Rare Announcement Expecting at Least 30% Profit Decline

By Daniel Tabbush

  • The bank’s announcement that it expects at least a 30% decline in profit due to impairments is rare, in its clarity, not unexpected in the content.
  • There may be gaining momentum for banks in Greater China to more clearly show their credit metrics, which given economies there, are not likely to be positive.
  • Credit costs to loans have been in decline at this bank, and the surge they are forecasting, is understandable; perhaps partly given developments at China Evergrande?

Ohayo Japan | Fed Holds the Line

By Mark Chadwick

  • US markets surged to new all-time highs on Wednesday following the Federal Reserve’s decision to maintain its benchmark lending rate at 5.25%
  • The Japanese government faces pressure to streamline finances following the Bank of Japan’s decision to end negative rates
  • Japan welcomed 2.79 million visitors in February, a record for the month since the start of the COVID-19 pandemic, driven by travel during Lunar New Year holidays

[Blue Lotus Daily – TMT Update]:NTES/ZTO/1519 HK/BABA/PDD/3690 HK/SHEIN

By Ying Pan

  • NTES: <Identity V> Has Reached a New High In Download Rankings In The Past 12 Months (+)
  • ZTO/1519 HK/BABA/PDD: Parcel volume last week grew 21% yoy (+)
  • BABA/SHEIN: AliExpress launches new subsidies to attract woman’s apparel merchants (+/-)  

[Blue Lotus Daily]：300750 SZ/NIO/BGNE/1810 HK

By Eric Wen

  • 300750 SZ: CATL’s result in 4Q23 showed clear impact of price war (/)
  • NIO: Huawei AITO M9 ranks first in weekly sales among SUVs above Rmb500K(/)
  • BGNE: BeiGene’s Tislelizumab approved by FDA for esophageal squamous cancer, but with little revenue potential (/)

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Mar 20
0

Daily Brief Thematic (Sector/Industry): Japan – Rising Rates: Focus On Banks With High Cash And Low Margins and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Japan – Rising Rates: Focus On Banks With High Cash And Low Margins
  • Democracy’s Market Dance: Elections and Economic Sentiment in India

Japan – Rising Rates: Focus On Banks With High Cash And Low Margins

By Daniel Tabbush

  • We look at which Japan banks have the most cash which can see a major boost to returns.
  • Banks with lower margins can see a higher net interest income pick up from rising rates.
  • Loan growth in Japan has been relatively strong, supportive of rising rates from BOJ.

Democracy’s Market Dance: Elections and Economic Sentiment in India

By Nimish Maheshwari

  • Indian elections significantly sway stock markets, with pre-election rallies and post-election stability reflecting investor sentiment and policy expectations.
  • Historical data unveils market surges preceding elections, highlighting the importance of economic reforms and policy promises in driving investor confidence.
  • Amidst market volatility, strategic investing demands a focus on long-term fundamentals over short-term fluctuations, emphasizing informed, adaptable approaches for sustainable growth.

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Mar 19
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Woodstock for AI Kicks Off and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Woodstock for AI Kicks Off
  • Generative AI. Innovation Turns To Litigation, Licensing & Regulation
  • Furniture/Furnishings Weekly – Contract Furniture and Office Seating in the Spotlight
  • The Highlights – Cannabis News for the Week Ending March 15, 2024
  • Weekly Sustainable Investing Surveyor – Week Ended March 15, 2024

Ohayo Japan | Woodstock for AI Kicks Off

By Mark Chadwick

  • Stocks rose on Monday as investors turned their attention to Nvidia’s GTC Conference and awaited Federal Reserve’s monetary policy guidance
  • The Bank of Japan is set to announce significant changes in its monetary policy, including the end of yield curve control, risk asset purchases, and negative interest rates
  • Nvidia’s CEO Jensen Huang unveiled the Blackwell platform at the GTC 2024 conference, boasting its real-time generative AI capabilities and efficiency surpassing its predecessor, Hopper

Generative AI. Innovation Turns To Litigation, Licensing & Regulation

By William Keating

  • The EU has just launched the World’s first AI Act
  • OpenAI claims the NYT tried to hack ChatGPT in order to prove they used their archive material during  one of its training phases. 
  • Google’s licensing of Reddit’s content in advance of the latter’s impending IPO is a win-win for both, and likely how content creators can expect to be rewarded in the future

Furniture/Furnishings Weekly – Contract Furniture and Office Seating in the Spotlight

By Water Tower Research

  • Office furniture will be in our spotlight for the next two weeks.
  • Steelcase reports 4QFY24 on Thursday, March 21 after the close and MillerKnoll reports its 3QFY24 on Wednesday, March 27 after the close.
  • Earlier this month, a Bloomberg News Service article highlighted competition in task seating, which is among the most profitable and important categories for industry players.

The Highlights – Cannabis News for the Week Ending March 15, 2024

By Water Tower Research

  • The US cannabis MSOS ETF broke a two-week slide and gained 9.51% over the last five sessions.
  • The week was shaping up to be negative, until optimism around federal reform caused MSOS to jump 14.91% on Friday.
  • This was the biggest one-day return since September 5 and 14.58 million shares traded is the most since September 15.

Weekly Sustainable Investing Surveyor – Week Ended March 15, 2024

By Water Tower Research

  • The WTR Sustainable Index was down by 1.9% W/W versus the S&P 500 Index (down 0.1%), the Russell 2000 Index (down 2.1%), and the Nasdaq Index (down 1.2%).
  • Energy Technology (12.5% of the index) was down by 6.2%, while Industrial Climate and Ag Technology (55.5% of the index) was down by 1.2%, ClimateTech Mining was down 3.7% and Advanced Transportation Solutions (26% of index) was down 1.8%.
  • Top 10 Performers: LICY, ADES, ARVL, SMR, EH, EGT, RIDE, FF, CVW, LIS

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Mar 18
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | A Big Week for the BoJ and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | A Big Week for the BoJ
  • China BIG-3 Mainland Airlines Traffic 18% Higher than 2019!
  • Important New Policy for China’s Innovative Drugs – The Game Rule Is About to Change Radically
  • GEMWeekly (15 Mar 2024): China, South Korea, India Macro; TSMC, Samsung Electronics, Xiaomi, Alibaba

Ohayo Japan | A Big Week for the BoJ

By Mark Chadwick

  • Last week, most major indices experienced slight declines, with the SPX down by 0.1% and the Nasdaq by 0.7%, on higher bond yields.
  • Looking ahead to this week, there are several key events that could drive market movement: both the Fed and BOJ hold monetary policy meetings. Elsewhere, focus on Nvidia GPU Conference
  • Nissan (7201) and Honda (7267), facing challenges in competing with rivals like Tesla in electric vehicle (EV) investments, are considering a partnership to collaborate on EVs

China BIG-3 Mainland Airlines Traffic 18% Higher than 2019!

By Mohshin Aziz

  • In aggregate, traffic among the Big-3 Chinese airlines was up 67% YoY in February and +18% vs 2019. Incontestable proof that China has regained its air travel mojo. 
  • Published March schedules show total implied capacity is 31% higher YoY and 9% higher than 2019 levels. This is driven by domestic travel, international remains depressed. 
  • Driven by domestic travel, international remains depressed. POSITIVE for China Eastern and other North Asian carriers that provide the missing North America link. 

Important New Policy for China’s Innovative Drugs – The Game Rule Is About to Change Radically

By Xinyao (Criss) Wang

  • A document titled “Soliciting Opinions on the Implementation Plan for Supporting the Development of Innovative Drugs throughout the Whole Chain” attracted widespread attention, which is significantly different from past policies. 
  • Restrictions on payment end and deteriorating investment and financing situations will be improved, marking a new starting point for China’s innovative drug business. We have reasons to start being optimistic.
  • If approved and implemented, it would be a significant reversal of the previous expectation and investment logic of innovative drugs. So, investors should not overlook the importance of this document.

GEMWeekly (15 Mar 2024): China, South Korea, India Macro; TSMC, Samsung Electronics, Xiaomi, Alibaba

By Wium Malan, CFA

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Mar 17
0

Daily Brief Thematic (Sector/Industry): India’s Mutual Fund Stress Testing Is Not the Solution Which Is Need of Hour. and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • India’s Mutual Fund Stress Testing Is Not the Solution Which Is Need of Hour.
  • [Blue Lotus Daily]9926HK/1801HK/1877HK/BGNE/ZLAB/9995HK/1211HK/XPEV/1810HK/Chery Automobile/LI/NIO
  • [Blue Lotus Daily – TMT Update]:BABA/002352 SZ/1519 HK/3690 HK/META/700 HK/259960 KRX

India’s Mutual Fund Stress Testing Is Not the Solution Which Is Need of Hour.

By Nimish Maheshwari

  • What is a stress test? How it is being calculated?
  • Key Takeaways of Mutual Fund’s Stress Test Results. What should investors know?  
  • Flaws in SEBI’s Stress Testing Results and Way Ahead for investors

[Blue Lotus Daily]9926HK/1801HK/1877HK/BGNE/ZLAB/9995HK/1211HK/XPEV/1810HK/Chery Automobile/LI/NIO

By Eric Wen

  • 9926 HK /1801 HK /1877 HK/ BGNE/ ZLAB/9995 HK: US lobbying group distanced itself from Wuxi AppTec after being accused（/）
  • 1211 HK/ XPEV/ 1810 HK：GAC AION orders surged after price cuts（/）
  • Chery Automobile:It Is Reported that Chery Automobile Is in Talks with the Italian government to build a factory（/）

[Blue Lotus Daily – TMT Update]:BABA/002352 SZ/1519 HK/3690 HK/META/700 HK/259960 KRX

By Ying Pan

  • BABA/002352.SZ/1519.HK: Taobao/Tmall adjusts algorithm to favor merchants with better service capabilities (+/+/-)
  • 3690 HK: Meituan QuanQuan shift from direct operating into third party operating, and cut nearly 200 BD job positions(+)
  • 700 HK/259960 KRX:The development team of <PUBG> has unveiled its major game update plan for 2024.(+)  

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Mar 16
0

Daily Brief Thematic (Sector/Industry): The Stocks to Own in Thailand – Vol. 44 and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • The Stocks to Own in Thailand – Vol. 44
  • AUCTUS ON FRIDAY – 15/03/2024

The Stocks to Own in Thailand – Vol. 44

By Dr. Andrew Stotz, CFA

  • We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
  • Portfolio changes: Six stocks remain, eight new join the fray
  • Since inception, it has gained 118% versus the SET 100 Index’s return of 23%

AUCTUS ON FRIDAY – 15/03/2024

By Auctus Advisors

  • Chariot (CHAR LN)C; target price of £0.50 per share: Feasibility study as a first step to unlocking a mega green hydrogen project – The feasibility study for the green hydrogen “Project Nour” has now been presented to the government of Mauritania.
  • Chariot holds a 50% interest in the project and TotalEnergies is a partner.
  • Mauritania benefits from an ideal geography for wind and solar energy.

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Mar 15
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Inflation Print Hotter than Expected…again and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Inflation Print Hotter than Expected…again
  • Funds Pour Into Chinese AI Startups Challenging OpenAI’s Sora in Video Generation

Ohayo Japan | Inflation Print Hotter than Expected…again

By Mark Chadwick

  • US Stocks declined, halting a 3-day winning streak, as U.S. inflation data exceeded expectations, driving Treasury yields higher
  • Feb’s Producer Price Index rose 0.6% from last month, higher than market expecations of 0.3%. Oil prices rallied again on IEA warning that supplies would lag this year
  • U.S. President Joe Biden expressed his desire that steelmaker U.S. Steel remains American-owned

Funds Pour Into Chinese AI Startups Challenging OpenAI’s Sora in Video Generation

By Caixin Global

  • Venture capital investors are pouring hundreds of millions of yuan into China’s burgeoning video generation startups, betting on their potential in the artificial intelligence race to rival OpenAI’s text-to-video model Sora.
  • This week, two leading Chinese generative AI startups announced the successful closure of their latest funding rounds, with each securing more than 100 million yuan ($14 million).
  • Both aim to catch up with Sora in the coming months.

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Mar 14
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Energy Boost and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Energy Boost
  • [Blue Lotus Daily – TMT Update]:BABA/097950.KS/CPNG/PDD/ByteDance/3690 HK/JD
  • [Blue Lotus Daily]：BGNE/LI/XPEV/300750 CH

Ohayo Japan | Energy Boost

By Mark Chadwick

  • Dow ekes out small gains on stronger energy stocks, but a slump in tech continues to keep Nasdaq in check. Tesla -4% on broker downgrade, Dollar Tree -14%
  • Oil prices rose about 2% to a four-month high on a surprise drop in US inventories and supply disruptions in Russia
  • Japan’s largest employers have announced record pay increases, marking a departure from the deflationary mindset that characterized the country’s “lost decades”

[Blue Lotus Daily – TMT Update]:BABA/097950.KS/CPNG/PDD/ByteDance/3690 HK/JD

By Ying Pan

  • BABA/PDD/CPNG: South Korean commissions investigating compliance of Chinese ecommerce platforms (-/-/+)
  • ByteDance/3690 HK: Douyin life service business had organizational restructure, and set annual sales target at RMB600bn, 100% yoy(-)
  • JD: JD provides free AI services for new 3P merchants (+)

[Blue Lotus Daily]：BGNE/LI/XPEV/300750 CH

By Eric Wen

  • BGNE: BeiGene’s Brukinsa received fifth indication from FDA but might be the last driver (+)
  • LI/XPEV: Li MEGA delivered 413 units in three days after its launch, in line with our predictions, better than market predictions(/)
  • 300750 CH：Samsung SDI announces production of large cylindrical batteries in 2025 and mass production of solid-state batteries in 2027（-）

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Mar 13
0

Daily Brief Thematic (Sector/Industry): Semiconductor 2023 Key Indicators In Review and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Semiconductor 2023 Key Indicators In Review, 2024 Forecasts
  • Ohayo Japan | Inflation Runs Hot…but Nvidia Is Hotter
  • Increasing HK Duty Free Quota: The Beneficaries
  • LG Electronics: Investment In Bear Robotics and Aggressive Plans to Expand in Global Robotics

Semiconductor 2023 Key Indicators In Review, 2024 Forecasts

By William Keating

  • Forecasting PC & Smartphone unit shipments to increase 5% YoY on the back on “AI Enablement”
  • Server unit shipments declined ~20% in 2023 but overall revenues remained flat, a consequence of higher ASPs associated with AI-accelerated servers
  • Server shipments will return to growth in 2024, likely +10% YoY. Server ASPs will increase yet again YoY as AI-server mix grows. 

Ohayo Japan | Inflation Runs Hot…but Nvidia Is Hotter

By Mark Chadwick

  • US stocks rallied on Tuesday despite hotter-than-expected inflation data with core CPI +3.1% YoY
  • Bitcoin continued its record rally, surpassing $72,000. Oracle shares surged 12% on cloud computing progress. Nvidia climbed 7%.
  • BoJ Governor Ueda remarked that while the economy was on a path of recovery, there were signs of weakness, especially highlighted by recent soft data on consumption. 

Increasing HK Duty Free Quota: The Beneficaries

By Osbert Tang, CFA

LG Electronics: Investment In Bear Robotics and Aggressive Plans to Expand in Global Robotics

By Douglas Kim

  • In this insight, we discuss LG Electronics (066570 KS) ‘s investment in Bear Robotics (US) and LG Electronics’ aggressive ambitions to become a major player in the global robotics industry. 
  • LG Electronics announced that it invested a $60 million Series C funding round in Bear Robotics, a Silicon Valley based company that provides service robotics and artificial intelligence solutions.
  • One of the key goals of LG Electronics is to expand into the global robotics software market, which is expected to grow to about 100 trillion won in eight years.

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