Thematic (Sector/Industry) Daily Briefs | Page 26 of 122

Jan 04

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks Tumble; Japan Resilient in Face of Tragedy and more

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

In today’s briefing:

Ohayo Japan | Stocks Tumble; Japan Resilient in Face of Tragedy
Semiconductor Outlook 2024: AI’s Adolescence
[Blue Lotus Daily – TMT Update]: BABA/BIDU/700 HK/0728 HK/JD/VIPS/PDD/2618 HK
[Blue Lotus Daily]: 1810 HK/XPEV/NIO/1211HK/LKNCY/1347.HK/688469.SH/603290.SH/605111.SH
Fads and Second Acts

Ohayo Japan | Stocks Tumble; Japan Resilient in Face of Tragedy

By Mark Chadwick

Overseas: SPX -0.8%, Nasdaq -1.2% extending losses for second day; Apple downgraded. 10Y yields above 4%.
Today: NKY Futs -1.2% v cash. JPY143; Expect weak start to year’s trading. Oil prices up +3%
Japan: Earthquake aftermath disrupts retail, services, and transport; 55 confirmed dead, with widespread destruction. Despite short-term challenges, Japanese equity markets historically resilient to earthquake impacts.

Semiconductor Outlook 2024: AI’s Adolescence

By Douglas O’Laughlin

The year 2023 began with a significant downturn in the semiconductor market.
Significant capacity additions were brought on after the historic shortages due to COVID-19, and then demand wobbled as interest rates quickly rose.
Supply outpaced demand, and the market turned into a period of oversupply.

[Blue Lotus Daily – TMT Update]: BABA/BIDU/700 HK/0728 HK/JD/VIPS/PDD/2618 HK

By Ying Pan

BABA/BIDU/700.HK/0728.HK: Alibaba layoffs staff in hybrid cloud and IoT division (+/-/-/+)
JD/VIPS/BABA/PDD/2618.HK: JD announces minimum 20% salary increase for retail group employees (-/-/-/-/+)
JD/BABA/PDD/VIPS/2618.HK: JD also launched refund without returning the product for 3P merchants (+/-/-/-/-)

[Blue Lotus Daily]: 1810 HK/XPEV/NIO/1211HK/LKNCY/1347.HK/688469.SH/603290.SH/605111.SH

By Eric Wen

1810 HK/XPEV/NIO/1211HK: ZEEKR 007 hits the market, starting at 209,900 yuan (-)
LKNCY: Luckin plans to set up the third roasting factory, with annual capacity of 55k tons.(+)
1347.HK/688469.SH/603290.SH/605111.SH: Analog Devices raising semiconductor prices by 10-20% for China customers (+)

Fads and Second Acts

By Investment Talk

Beanie Babies, Tamagotchis, fidget spinners, heelys, silly bandz, pogs, pet rocks, mood rings, cabbage patch kids…
Every generation has its share of fad products, fashion statements, and hairstyles.
But what separates a fad from a sustainable trend? Understanding the difference between the two can be challenging.

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Jan 03

Daily Brief Thematic (Sector/Industry): The Cheap Japanese Basket: Year-End Portfolio Review and Reasons Why I Remain Bullish and more

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

In today’s briefing:

The Cheap Japanese Basket: Year-End Portfolio Review and Reasons Why I Remain Bullish
2023 Year-End Review – Top Three Cannabis-Investing Stories
Supply Chain Success
Auctus on Friday – 15/12/2023

The Cheap Japanese Basket: Year-End Portfolio Review and Reasons Why I Remain Bullish

By Altay Capital

I initially began my cheap Japanese basket in March 2023 and now that 2023 has come to an end, let’s take a look at how everything worked out.
But first, a quick summary of the themes in my basket and why I’m broadly still bullish on deep value Japan.
Within my basket of cheap Japanese companies, there are 3 broad themes: higher quality businesses with better RoEs and P/TBV closer to 0.7x, dirt cheap deep value net nets with P/TBV of 0.2-0.4x, and deeply discounted companies with underappreciated land assets

2023 Year-End Review – Top Three Cannabis-Investing Stories

By Water Tower Research

It was another challenging year for the cannabis industry.
The US cannabis MSOS ETF is in a 1,056-day drawdown and is down 87.29% from peak to trough.
For the year, MSOS ended +0.29%, while the global YOLO ETF fell 16.11%. US cannabis outperformed global names as the potential for rescheduling affects plant-touching US operators the most.

Supply Chain Success

By subSPAC

The last week of trading in the year was an eventful one for SPACs, which included two deals being announced, and an LOI being signed for a potential merger.
Also, a company accelerated its plans to go public by announcing a potential merger next year, and a new SPAC debuted, targeting firms in the media and entertainment industry.
Read on to find out about the latest about all things SPACs.

Auctus on Friday – 15/12/2023

By Auctus Advisors

ADX Energy (ADX AU)C; target price of A$0.65 per share: Narrowing uncertainty and resources range at Anshof – The Anshof-2 well encountered high quality Eocene sands with at least 12 metres vertical thickness and porosity of ~20%.
The top of the Eocene sand was encountered ~40-50 m higher than expected, suggesting a much larger and flatter structure than expected in the P50 case.
Tethys Oil (TETY SS)C; target price of SEK100 per share: Production update in Oman – WI Production in November was 8,361 bbl/d.

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Jan 02

Daily Brief Thematic (Sector/Industry): China’s Rising Role in Global ADC Partnership Wave – Opportunities and Risks Behind the Gold Rush and more

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

In today’s briefing:

China’s Rising Role in Global ADC Partnership Wave – Opportunities and Risks Behind the Gold Rush

China’s Rising Role in Global ADC Partnership Wave – Opportunities and Risks Behind the Gold Rush

By Xinyao (Criss) Wang

If checking the hot ADC transactions in recent years, a very big portion of ADC varieties in global licensing deals are from Chinese pharmaceutical companies, which is actually very rare.
While international buyers are “very generous” for ADC assets and MNC’s appetite would remain strong, they will immediately calm down and stop once they see any “potential risk” behind.
For Chinese pharmaceutical companies, ADC license-out deal is more of a temporary catalyst. We suggest taking a rational view. ADC CDMO (e.g. WuXi XDC) could be a better investment option.

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Jan 01

Daily Brief Thematic (Sector/Industry): Japan Weekly | Topix +25% for the Year and more

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

In today’s briefing:

Japan Weekly | Topix +25% for the Year
China Precious Metals Buck Weakening Materials Trend

Japan Weekly | Topix +25% for the Year

By Mark Chadwick

Market Performance: Topix achieved a third consecutive weekly gain, rising by +1.3% to close at 2,366. Defensive sectors, particularly healthcare, telecoms, and utilities, outperformed
Stock Highlights: Nihon Kohden emerged as the top performer with a +19% gain, fuelled by ValueAct Capital Management’s significant shareholding. Conversely, shippers experienced declines.
Annual Overview: Topix stood out as one of the best-performing global markets for the year, boasting a remarkable +25% gain. Corporate governance reforms, coupled with yen weakness, were pivotal.

China Precious Metals Buck Weakening Materials Trend

By Steven Holden

Rotation in to China Precious Metals stocks pushes ownership to record levels, bucking the trend of overall Materials sector decline.
Zijin Mining Group soars to new ownership highs, attracting funds such as RWC, Mirae and TT International over the course of 2023.
Second tier stocks showing signs of life, though remain lightly held among investors.

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Dec 31

Daily Brief Thematic (Sector/Industry): 4 New Deep Value Double Net Net Additions To The Cheap Japanese Basket and more

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

In today’s briefing:

4 New Deep Value Double Net Net Additions To The Cheap Japanese Basket
2023 Winners & Losers: Laggards and Rotation Plays for Global Travel/Mobility Stocks

4 New Deep Value Double Net Net Additions To The Cheap Japanese Basket

By Altay Capital

I’ve added several deep value names to my Japanese portfolio over the last few months.
While there are many net-nets in Japan, the names below are either double net nets or close, meaning if these stocks doubled, they would still be net nets.
There are cheaper names in Japan, but I’m filtering a bit for profitability.

2023 Winners & Losers: Laggards and Rotation Plays for Global Travel/Mobility Stocks

By Mohshin Aziz

We compiled the share price movements of 183 global travel/mobility stocks to uncover general trends and identify rotation and laggard plays
Tourist countries like Greece, Spain and Turkey did very well. The U.S. also performed well, almost all names closed the year higher except for those with unique problems
China and anything that is China-focused performed the worst, even companies that delivered great results are not spared and currently trading at cheap valuations

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Dec 30

Daily Brief Thematic (Sector/Industry): [Blue Lotus Daily – TMT Update]: 700 HK/NTES/PDD/VIPS/BABA/JD/ZTO/2618 HK/1519 HK and more

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

In today’s briefing:

[Blue Lotus Daily – TMT Update]: 700 HK/NTES/PDD/VIPS/BABA/JD/ZTO/2618 HK/1519 HK
[Blue Lotus Daily]: NIO/LI/1211 HK/600104 CH/601633 CH/MU/SMIC/1810 HK/981 HK

[Blue Lotus Daily – TMT Update]: 700 HK/NTES/PDD/VIPS/BABA/JD/ZTO/2618 HK/1519 HK

By Ying Pan

700HK/ NTES: NPPA publishes domestic game code for December, NetEase and Tencent received game approval (+)
PDD/ VIPS/ BABA/ JD/ ZTO/ 2618.HK/ 1519.HK: Express Parcel Volume collected grows +68% YoY last week (+)
BABA/ PDD/ JD/ VIPS/ ZTO/ 1519.HK: Taobao launches refund without returning the product (+/-/-/-/-)

[Blue Lotus Daily]: NIO/LI/1211 HK/600104 CH/601633 CH/MU/SMIC/1810 HK/981 HK

By Eric Wen

NIO: NIO launches new ET9 vehicle model at RMB 800K, set for delivery in 2025 (-)
MU/ SMIC: Micron and Fujian Jinhua reach legal settlement (+)
1810 HK/ 981 HK: Huawei launches four new Nova devices with two new SoC (-/+)

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Dec 29

Daily Brief Thematic (Sector/Industry): Ohayo Japan | US Snoozes; More Firms to Delist from TSE and more

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

In today’s briefing:

Ohayo Japan | US Snoozes; More Firms to Delist from TSE
China Property – New Home Sales Growth Less Negative (16 Cities) To Week Ending Dec 24
China Property Developers In Distress – Weekly News & Announcements Tracker | Dec 22-28, 2023

Ohayo Japan | US Snoozes; More Firms to Delist from TSE

By Mark Chadwick

Overseas: SPX +0.0%, Marginal gains on penultimate trading day. Oil -3%
Today: NKY Futs -0.3% v cash. JPY141; JGC to study hydrogen production on moon!
Japan: Japanese firms consider delisting to enhance management amid governance reforms, requiring Tokyo Stock Exchange Prime section companies to appoint external directors for increased board independence.

China Property – New Home Sales Growth Less Negative (16 Cities) To Week Ending Dec 24

By Robert Ciemniak

The weekly new home sales data indicates a smaller pace of decline for the select 16 major cities with consistent data towards the year-end.
Xi’an stands out as an outperformer. Recent policy easing in Beijing and Shanghai may not be fully reflected in the data yet.
The small-sample weekly data serves as a good directional indicator as to what to expect in the national figures for the same month (published in the middle of next month).

China Property Developers In Distress – Weekly News & Announcements Tracker | Dec 22-28, 2023

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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Dec 28

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks Drift Higher; Japan Wage Hikes +5% in 2024 and more

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

In today’s briefing:

Ohayo Japan | Stocks Drift Higher; Japan Wage Hikes +5% in 2024
Fragile Vietnamese Real Estate Sector Faces Long Road to Recovery

Ohayo Japan | Stocks Drift Higher; Japan Wage Hikes +5% in 2024

By Mark Chadwick

Overseas: SPX +0.1%; Stocks drift higher; 10Y Treasury yield at 3.8%; Biotech stocks surge
Today: NKY Futs -0.5% v cash. JPY141.5; Daihatsu Motor could face over ¥100 billion in losses
Markets: Japanese business leaders foresee 5% wage hikes in FY24, driving sustained growth.

Fragile Vietnamese Real Estate Sector Faces Long Road to Recovery

By Yanqi Zhu

The Vietnamese government is in the midst of a campaign to eradicate corruption in its domestic real estate industry, which has seen bribery and embezzlement amounting to close to 3% of the country’s gross domestic product (GDP).
Despite the high-profile corruption cases that have brought the sector’s financing channels to a standstill, the aggregate credit risk profile of the Vietnamese real estate industry has largely improved in recent months, after deteriorating, on the back of widespread monetary policy support from the Vietnamese government.
The troubled sector saw a spike in its Criat credit cycle index (CCCI) since the middle of last year when deleveraging efforts for the industry by the Vietnamese government were first announced.

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Dec 27

Daily Brief Thematic (Sector/Industry): Evidenced Based Analysis of Real Residential Property Price Indices Vs Major Asian Stock Indices and more

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

In today’s briefing:

Evidenced Based Analysis of Real Residential Property Price Indices Vs Major Asian Stock Indices
No Sign of Selling Advanced Scanners by ASML to China Customers, Implications
[Blue Lotus Daily]: ATAT/600754 CH/1211 HK/LI/XPEV/NIO/ZLAB/ARGX/9995 HK/3692 HK
[Blue Lotus Daily – TMT Update]: 700 HK/NTES/BILI/002624 CH/300299 CH/3690 HK/AMZN/PDD/Shein
The Highlights – Cannabis News for the Week Ending December 22, 2023

Evidenced Based Analysis of Real Residential Property Price Indices Vs Major Asian Stock Indices

By Douglas Kim

We provide evidence based analysis of real residential property price indices in five major Asian countries/regions versus their stock indices including South Korea, China, Hong Kong, Australia, and New Zealand.
Most of the peak in real residential properties of these countries occurred in 3Q 2021 to 1Q 2022.
If the real residential property prices continue to drag the overall economy in these major countries, this is likely to have a negative impact on their stock markets next year.

No Sign of Selling Advanced Scanners by ASML to China Customers, Implications

By Andrew Lu

The oversupply of 8″/12″ mature technology and price war especially within China for the next 5 years is inevitable, especially negative for SMIC and Hua Hong Semi.
Production moving out of China semi demand might increase to 65-70% in next five years to benefit Globalfoundries, UMC, Vanguard, Powerchip mitigating impacts from rising domestic replacement in China.
By building up in-house fabs, Huawei and HiSilicon supply chain vendors will be benefited the most like semiconductor equipment, material, fab construction, CoWoS interposer, and CoWoS packaging vendors.

[Blue Lotus Daily]: ATAT/600754 CH/1211 HK/LI/XPEV/NIO/ZLAB/ARGX/9995 HK/3692 HK

By Eric Wen

ATAT/600754 CH: Hotel industry update – Jinjiang disclose Oct-Nov RevPAR recovered to 105% of 2019, slightly better than industry average.(+)
1211HK/LI/XPEV/NIO: Huawei Harmony Intelligent Mobility Alliance to establish independent stores(-)
ZLAB/ ARGX: Efgartigimod failed two late stage indication trials (-)

[Blue Lotus Daily – TMT Update]: 700 HK/NTES/BILI/002624 CH/300299 CH/3690 HK/AMZN/PDD/Shein

By Ying Pan

700HK/ NTES/ BILI: The NPPA has released a draft for public opinion on the <Internet Game Governing Measures>(-/-/-)
700HK/ NTES/ 002624CH/ 300299CH/ BILI:NPPA Announced December Imported Game Code Approvals(////+/+/+)
AMAZ/ SHEIN/ TEMU: Local merchants reportedly unhappy with some new AI features on Amazon (-/+/+)

The Highlights – Cannabis News for the Week Ending December 22, 2023

By Water Tower Research

It was a slightly negative week for most cannabis stocks, with the US-cannabis MSOS ETF dropping 2.11% and the global YOLO ETF ending exactly flat.
MSOS was -8.87% for the first four days of the week, then presidential pardons and Schedule III speculation sparked a rally.
On Friday, President Biden issued a proclamation to begin pardoning certain cannabis offenses.

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Dec 26

Daily Brief Thematic (Sector/Industry): China Tourism and Hospitality Industry: Boom in 2024 New Year Travel Demand and more

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

In today’s briefing:

China Tourism and Hospitality Industry: Boom in 2024 New Year Travel Demand

China Tourism and Hospitality Industry: Boom in 2024 New Year Travel Demand

By Osbert Tang, CFA

Data from Trip.com Group (9961 HK) showed good improvement in travel demand for the 2024 New Year holidays. The volume of various orders has surged between 2x and 5x YoY.
Aggregate net profit for the tourism and hospitality sector has turned around to Rmb20.4bn in 3Q23, from losses of Rmb24.7bn a year ago, demonstrating solid profitability recovery.
An average of 32% drop in the sector’s share price YTD is unjustified. We like Tongcheng Travel (780 HK), Air China (H) (753 HK) and Fosun Tourism (1992 HK).

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