Thematic (Sector/Industry) Daily Briefs | Page 25 of 122

Jan 16

Daily Brief Thematic (Sector/Industry): Ohayo Japan | US Market on Hols; TSE Releases THE List and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | US Market on Hols; TSE Releases THE List
Value Investing Substack Portfolio Review | Annual Letter 2023
Weekly Stock Bullfinder – Week of 1/15

Ohayo Japan | US Market on Hols; TSE Releases THE List

By Mark Chadwick

US markets closed; Nikkei futures point to stronger open; VIPs head to Davos
TSE strengthens influence on CEOs, unveiling a list of companies improving capital efficiency and stock prices….and by omission, those that are not.
Japan experiences an eight-year high in corporate bankruptcies in 2023, with failures increasing across all sectors due to surging prices, labor shortages, and COVID-19 relief loan repayments.

Value Investing Substack Portfolio Review | Annual Letter 2023

By Value Investing

The red & blue arrows highlight the apples-to-apples comparisons to be made between the respective bars (more details below)
Around this time last year , I did a portfolio performance review based on all the stocks I had written about in 2022.
This article is a repeat of that for all the stocks I had written about in 2023.

Weekly Stock Bullfinder – Week of 1/15

By Weekly Stock Bull Finder

As we begin 2024, the past few week have been consumed with media chatter over the launch of new bitcoin ETF’s with predictions this would unleash a new bitcoin bull market, meanwhile price action in different market sectors have been off to surprisingly strong starts.
Regardless of your favorite market prognosticators’ forecast for 2024 (up, down, or sideways), catching emerging waves in the start of each year, especially paying attention to volume and price, can lead to significant outperformance.
For example, if you recall back to January 2023’s earnings call season, it featured an eye opening proclamation from Microsoft CEO Satya Nadella that “We [Microsoft] fundamentally believe the next platform wave will be AI” which came exactly one day before Microsoft announced its rumored $10B investment in OpenAI.

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Jan 15

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Nikkei Outpaces Global Stocks; Busy Week Ahead and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | Nikkei Outpaces Global Stocks; Busy Week Ahead
Crisis in the Red Sea, if This Persists, We May Need to Rethink About Victory over Inflation

Ohayo Japan | Nikkei Outpaces Global Stocks; Busy Week Ahead

By Mark Chadwick

In the upcoming week, market focus includes U.S. retail sales, bank earnings, Davos discussions on global economic challenges, China’s GDP figures, and volatile oil prices amid geopolitical tensions.
Fujitsu faces scrutiny in Britain regarding potential compensation for post office operators falsely accused of embezzlement due to glitches in its accounting system from the 1990s into the 2010s.
Yaskawa’s 9M financials show a 6% YoY net profit decline at 34bn yen. Motors and robotics, witnessed profit growth despite Chinese economic uncertainties. Orders may be bottoming

Crisis in the Red Sea, if This Persists, We May Need to Rethink About Victory over Inflation

By Mohshin Aziz

The U.S. and the UK have struck multiple military assets across Yemen in a bid to cripple the Houthis’ ability to target commercial ships and to send “a clear message”
The Houthis are a battle-hardened regime, they are still around after an eight-year war with Saudis and the U.A.E, and chances are attacks over the Red Sea will increase
Shipping rates have soared, and air freight will likely follow soon. Bad news for the flight against inflation

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Jan 13

Daily Brief Thematic (Sector/Industry): [Blue Lotus Daily]: 1211HK/XPEV/NIO/LI/000625 CH/0175 HK/601127 CH/9863 HK/9926 HK/ACMR and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

[Blue Lotus Daily]: 1211HK/XPEV/NIO/LI/000625 CH/0175 HK/601127 CH/9863 HK/9926 HK/ACMR
Japan Weekly | Market on Fire; Dalton Deploying Dollars
[Blue Lotus Daily – TMT Update]: 700 HK/3690 HK/JD/VIPS/1519 HK/BABA/PDD/ZTO/600233 CH/002120 CH
Auctus on Friday – 12/01/2024

[Blue Lotus Daily]: 1211HK/XPEV/NIO/LI/000625 CH/0175 HK/601127 CH/9863 HK/9926 HK/ACMR

By Eric Wen

1211HK/XPEV/NIO/LI/000625 CH/0175 HK/601127 CH/9863 HK: Hyper Auto announces free charging for owners(-)
9926 HK: Akeso submits new indication application for Cardonilimab BsAb treatment of gastric cancer (+)
ACMR : ACM Research publishes 2024 revenue outlook ( + )

Japan Weekly | Market on Fire; Dalton Deploying Dollars

By Mark Chadwick

The Nikkei surged over 2,200 points, or +6.6%, this week, outperforming global markets
Strong results from Fast Retailing (+13% wow) and a sharp move higher for gaming heavyweight Nintendo (+13%) key stocks behind the index move
Activist Dalton and its listed fund have been very active in the past week, adding to seventeen positions

[Blue Lotus Daily – TMT Update]: 700 HK/3690 HK/JD/VIPS/1519 HK/BABA/PDD/ZTO/600233 CH/002120 CH

By Ying Pan

JD/VIPS/1519.HK/BABA/PDD/ZTO/600233 CH/002120 CH/002468 CH: Beijing parcel deliveries impacted by regulations on three-wheel cars (+/+/-)
700 HK: ByteDance in Talks with Tencent on Gaming Business Acquisition and Enhanced Cooperation（+）
3690 HK/ByteDance: Douyin local life is testing “free trial”, accumulating graphic and text content.(-)

Auctus on Friday – 12/01/2024

By Auctus Advisors

ADX Energy (ADX AU) C ; target price of A$0.65 per share: Closing new farm-out transaction with MND/Amendment of agreement for Welchau farmout – The farm-out of 50% economic interest in a part of the ADX-AT-I licence has been completed and ADX has received EUR0.45 mm from MND for back costs payments. MND will fund EUR4.5 mm for exploration drilling.
ADX and MND currently intend to drill either the LICHT or the IRR gas exploration prospect during 2H24.
ADX also announced that the farm-out agreement with MCF Energy regarding Welchau has been amended.

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Jan 12

Daily Brief Thematic (Sector/Industry): Ohayo Japan | CPI Caps Stocks; Nikkei at 34 Year High and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | CPI Caps Stocks; Nikkei at 34 Year High
US Banks – Credit Card Charge-Offs Soaring to 8.5%, Can Catch Some Off Guard with Focus on CRE, C&I
China Property Developers In Distress – Weekly News & Announcements Tracker | Jan 5-11, 2024
Japan’s Drugstores Taking on – and Beating – Supermarkets
State Companies’ Rush to Clean Energy Sparks Bubble Fears

Ohayo Japan | CPI Caps Stocks; Nikkei at 34 Year High

By Mark Chadwick

S&P -0.13% as annual CPI comes in at 3.4% vs exp 3.2%. March rate cut odds down to 65%.
Nikkei at 34 year high as revamped NISA attracts funds; Yen falls to one month low; Japan to earmark $130b for decarbonization
Nikkei futures +0.5% premium to cash; Daiwa House massive CB issue; Fujitsu faces growing calls to compensate Post Office victims in UK. Uniqlo beats estimates

US Banks – Credit Card Charge-Offs Soaring to 8.5%, Can Catch Some Off Guard with Focus on CRE, C&I

By Daniel Tabbush

For US banks outside the largest 100, credit card charge off rates are soaring now at 8.5% compared with a total charge off rate of 0.25%
Often smaller finance companies or non-traditional banks can see deterioration that hits the mainstream later, like in Thailand in 1997, and like with HSBC Finance, Countrywide, Indymac in the past.
Ally Financial has already revealed a renewed surge of credit costs in 3Q23, defying the decline in the preceding two quarters. Maybe COF and others will show this too?

China Property Developers In Distress – Weekly News & Announcements Tracker | Jan 5-11, 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

Japan’s Drugstores Taking on – and Beating – Supermarkets

By Michael Causton

Major food-drugstores like Kusuri no Aoki and Genky Drugstores continue to pressure local supermarket competition.
The model of funding discount foods and FMCG via high profit pharmaceutical and cosmetics ranges is one that traditional food chains cannot match.
Now the largest players are creating brands and expanding into new regions. Many analysts have predicted saturation in the sector in the last decade. They continue to be wrong.

State Companies’ Rush to Clean Energy Sparks Bubble Fears

By Caixin Global

China’s largest state-owned companies have poured hundreds of billions of yuan into wind and solar power projects, putting the country on course to hit its clean energy target six years ahead of schedule.
But the investment frenzy has also raised concerns over profitability and waste.
China has seen explosive growth in photovoltaic and wind power over the past three years as Beijing pushes to achieve a carbon peak by 2030 and carbon neutrality by 2060. To meet these goals, China in 2020 set a target to install 1.2 billion kilowatts of wind and solar power capacity by 2030. The country has moved faster than planned.

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Jan 11

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Megacaps Rally; Japan to Tighten in April? and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | Megacaps Rally; Japan to Tighten in April?
Stories Behind the Reported Dec/4Q23 Taiwan Semi/Tech Sales
China Macro-Property: The Pledged Supplementary Lending (PSL) December 2023 Spike In Context
The cocoa question

Ohayo Japan | Megacaps Rally; Japan to Tighten in April?

By Mark Chadwick

US stocks climb led by Nvidia (+2.3%) following strong TSMC results. Amazon and Microsoft stronger
Japanese stocks set for strong open. NKY Futs point 1.4% higher; Former BoJ member expects end to low rates in April
Suzuki delays launch of new EV but Honda unveils new EVs at CES; Daiwa House to acquire US home builder

Stories Behind the Reported Dec/4Q23 Taiwan Semi/Tech Sales

By Andrew Lu

Y/Y improvement for LCD panel, 8″/12″ raw wafer, CMOS sensor, GaAs RF, cooling system, design service, and semi equipment and material vendors but y/y deterioration for PC/server and gaming vendors.
After 9 vendors beating consensus, we might see smartphone IC and RF, semi equipment OEM, and design service vendors in US to report a better than expected 4Q23 sales/earnings.
After 6 vendors missing consensus, we might see PC/general server IC and niche memory vendors in US to report a worse than expected 4Q23 sales and earnings.

China Macro-Property: The Pledged Supplementary Lending (PSL) December 2023 Spike In Context

By Robert Ciemniak

China’s Pledged Supplementary Lending (PSL) data shows a spike in December, though 2023 still ended with a lower PSL increase than 2022
The latest increase is seen by some as a signal of support ultimately for the property sector, though we think this is very different from the 2014-2015 stimulus
The previous increases in 2022 were associated with support for the completion of unfinished development projects, and in 2014-2018, with shantytown renovation schemes, incl. “monetarization”

The cocoa question

By Michael Fritzell

In the past year, cocoa prices have spiked to elevated levels.
The culprit has been heavy rainfall in West Africa, leading to poor cocoa crops.
There’s nothing suggesting that the tightness in the cocoa market will end anytime soon.

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Jan 10

Daily Brief Thematic (Sector/Industry): Semiconductor Events Deserving Your Attention @9/1/2024 and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Semiconductor Events Deserving Your Attention @9/1/2024
Ohayo Japan | Stocks Retreat; Earnings & Corp Gov Drive Japan
Rough Road Ahead for US Commercial Real Estate but Industrial CRE Is Rooted to Outperform Others
[Blue Lotus Daily]: LKNCY/0000625 CH/1211 HK/300750 CH/QS/NIO/LI/2618 HK/ZTO/002352 CH/600233 CH
[Blue Lotus Daily – TMT Update]: BABA/SE/PDD/3690 HK/NTES/700 HK/AMZN/MELI/CPNG
Weekly Sustainable Investing Surveyor – Week Ended January 5, 2024

Semiconductor Events Deserving Your Attention @9/1/2024

By William Keating

Nanya 12/23 revenues NT$ 3,162 million, +10% MoM, +31.73% YoY. UMC 12/23 revenues NT$ 16,979,226. -9.6% MoM, -18.9% YoY. Samsung Q423 Sales Flat, Op Profit +16% QoQ
Quintaurius, a RISC-V collaboration between Bosch, Infineon, Nordic, NXP & Qualcomm, launched in Germany
Intel takes delivery of the first ASML High-NA EUV tool. It’s a great photo opportunity but that’s about as far as it goes

Ohayo Japan | Stocks Retreat; Earnings & Corp Gov Drive Japan

By Mark Chadwick

Overseas: US stocks lower on slight rise in 10Y; less chance of early rate cut; Boeing down again
Today: NKY futures point to slight uptick (+0.3% v cash); Toyota China sales down for second year running
Corporate: Honda to power EVs with nuclear charging; Mit Corp to spend Y100b on green hydrogen

Rough Road Ahead for US Commercial Real Estate but Industrial CRE Is Rooted to Outperform Others

By Suhas Reddy

Growth in commercial real estate to be subdued in 2024 due to weak demand, especially for office spaces.
Concerns over CRE loan defaults grow stronger as the industry faces a liquidity crunch.
Delinquency rates of commercial real estate loans rise for five consecutive quarters till Q32023.

[Blue Lotus Daily]: LKNCY/0000625 CH/1211 HK/300750 CH/QS/NIO/LI/2618 HK/ZTO/002352 CH/600233 CH

By Eric Wen

Coffee Industry: Cotti Coffee promote the application of commercial robots, which we deemed as a gimmick (+)
1211 HK/300750 CH/ QS:US solid start battery startup posted positive test result and stock rose 40% (/)
2618 HK/ZTO/002352 CH/600233 CH/1519 HK/002120 CH/002468 CH: MOT announces new regulations on express parcel delivery (+/+/-/-/-/-/-)

[Blue Lotus Daily – TMT Update]: BABA/SE/PDD/3690 HK/NTES/700 HK/AMZN/MELI/CPNG

By Ying Pan

BABA/ SE/ PDD: Lazada mass-layoffs also in China offices (+/+/-)
NTES: Local media published an article addressing the issue of underage top-up in NetEase’s mobile game <Eggy Party> (/)
700 HK: The New Year event operation of <CrossFire Mobile> is a success.(+)

Weekly Sustainable Investing Surveyor – Week Ended January 5, 2024

By Water Tower Research

The WTR Sustainable Index was down by 3.2% W/W versus the S&P 500 Index (down 1.5%), the Russell 2000 Index (down 3.7%), and the Nasdaq Index (down 3.1%).
Energy Technology (13.7% of the index) was down by 6.5%, while Industrial Climate and Ag Technology (50.6% of the index) was down 2.1%, ClimateTech Mining was up 10.3%, and Advanced Transportation Solutions was down 6.7%.
Top 10 Performers: AEVA, WAVE, PEV, PTRA, QS, PGTK, EFLVF, NXH, LIS, TMC

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Jan 09

Daily Brief Thematic (Sector/Industry): Ohayo Japan: Tech Lifts Stocks; Wage Hikes Gaining Acceptance in Japan and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan: Tech Lifts Stocks; Wage Hikes Gaining Acceptance in Japan
Equity Strategy: US Regional Banks: Not Out of the Woods Yet
Furniture/Furnishings Weekly – WTR Furniture/Furnishings Conference Approaching
Industry Report – Chemicals & Materials Technology
The Highlights – Cannabis News for the Week Ending January 5, 2024

Ohayo Japan: Tech Lifts Stocks; Wage Hikes Gaining Acceptance in Japan

By Mark Chadwick

Overseas: US Tech stocks lead charge higher. Nvidia +6.4% to all-time high; Semicon ETF +3.5%; Boeing -8%; WTI Crude -4% on Saudi price cuts
Today: NKY Futures point to strong open; JPY stable at 144/$; Honda considers $14b plant in Canada; Uniqlo Japan December sales -15%
Japan: Wage hikes, at least for larger companies, could be in the +5-6% range this year. Good news for BoJ looking to exit ultra lose policy

Equity Strategy: US Regional Banks: Not Out of the Woods Yet

By Raj Saya, CA, CFA

Large regional banks in the US have been troubled in 2023 by the proposed “Basel III Endgame” regulations, asset quality issues and earning pressure in terms of the high COF
We believe these factors have made the sector more cyclical and vulnerable to even a mild recession scenario in 2024-25
We are particularly weary of names at regulatory risk (like USB), and those with higher exposures to CRE

Furniture/Furnishings Weekly – WTR Furniture/Furnishings Conference Approaching

By Water Tower Research

Furniture & furnishings equity issues slumped in the final two weeks of 2023 and into the first week of 2024. The group had a positive year.
The commercial/contract furniture stocks gained 46%, beating all major broad market indices.
Steelcase led the sector with a ~91% gain for the year.

Industry Report – Chemicals & Materials Technology

By Water Tower Research

WTR-CMI in 2023. With the majority of stocks in our index finishing the year in positive territory, the WTR-CMI Index managed to keep pace with the Russell 2000, appreciating 15%.
However, both indexes fell well short of the 24% growth of the S&P 500 in 2023, with the WTR- CMI Index dragged down by four companies that lost more than 50% in value during the year.
Weak demand and destocking. Looking back at 2023, several themes are emerging as we head into 2024, such as declining commodity prices and weakening end-market demand, with Y/Y volume comps affected by destocking across several end-markets since mid-year, as supply chain constraints, which characterized 2022, are resolved and companies go back to just-in-time inventory management.

The Highlights – Cannabis News for the Week Ending January 5, 2024

By Water Tower Research

It was a strong start of the year for cannabis stocks, with the US cannabis MSOS ETF gaining 13.12% and the global YOLO ETF increasing 9.11%.
US cannabis continues to outperform Canadian and other global names due to the positive sentiment driven by the potential for the DEA to agree with the HHS’s Schedule III recommendation.
This would eradicate 280E, the onerous tax code that applies to plant-touching US operators.

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Jan 08

Daily Brief Thematic (Sector/Industry): India Shorting Framework | Same Soup and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

India Shorting Framework | Same Soup, Just Reheated

India Shorting Framework | Same Soup, Just Reheated

By Pranav Bhavsar

The Securities and Exchange Board of India released a circular on shorting titled ‘Framework for Short Selling,’ which spooked the market a bit.
No significant changes except for the disclosure aspect, which now reveals short interest in the stock.
Shorting in India has always been challenging and is likely to remain so.

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Jan 07

Daily Brief Thematic (Sector/Industry): Japan Weekly | A Happy New Year and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Japan Weekly | A Happy New Year
Boeing 737 MAX 9 and MAX-8200 Grounded: Implications And Opportunities

Japan Weekly | A Happy New Year

By Mark Chadwick

TOPIX rose by 1.15% over the past 5 trading days, which is an impressive performance given the negative news flow
Securities companies such as SBI (+7.7%), Daiwa (+7.1%) and Nomura (+6.3%) performed well on expectations that they would do well from the change in NISA regulations.
We highlight again the outperformance of value versus growth again over the past 5 days.

Boeing 737 MAX 9 and MAX-8200 Grounded: Implications And Opportunities

By Mohshin Aziz

Alaska Air Flight 1282 had an in-flight blowout of its mid-aft door and interior sidewall; the aircraft returned and landed safely, and there were no injuries or fatalities
The U.S. Federal Aviation Administration (FAA) has ordered a temporary grounding of the affected aircraft model, and we think other countries will follow suit soon
These stocks will likely be under shorts attack on Monday: Boeing (BA US), Alaska Air (ALK US), Ryanair (RYA ID) and United Airlines (UAL US)

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Jan 06

Daily Brief Thematic (Sector/Industry): China Population Policies Impact on Healthcare Companies Series – Part 3 and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

China Population Policies Impact on Healthcare Companies Series – Part 3
[Blue Lotus Daily]:LKNCY/1211 HK/XPEV/LI/NIO
[Blue Lotus Daily – TMT Update]: NTES/3690 HK/Bytedance/PDD

China Population Policies Impact on Healthcare Companies Series – Part 3

By Xinyao (Criss) Wang

Starting from November 1st 2023, Guangxi Zhuang Autonomous Region will include some therapeutic assisted reproductive medical services in the payment scope of basic medical insurance and work-related injury insurance funds.
Livzon’s 23Q3 performance was below expectations, which is related to China’s anti-corruption campaign started from 23H2. Considering the Chairman’s proposal to repurchase shares, we should be more patient with Livzon.
BGI is still digesting the impact of COVID revenue, and would experience a performance low point in 2023.However, BGI belongs to the direction of national key science and technology projects.

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

By Eric Wen

LKNCY : Luckin Coffee offer special locations for franchisees (+)
XPEV: XPeng’s urban NOA function remains in the lead (+)
1211 HK/XPEV/LI/NIO: Huawei rumored to cease cooperation with major automotive portals such as Dongchedi (+)

[Blue Lotus Daily – TMT Update]: NTES/3690 HK/Bytedance/PDD

By Ying Pan

Bytedance/3690 HK: Douyin in-store GMV increased 256% YoY in 2023, miss target by 5% (+)
PDD: AliExpress to focus on expanding in the US market this year (-)
NTES: The latest developments about the reconciliation between NetEase and Blizzard (+)

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