Thematic (Sector/Industry)

The S&P 500 pulled back 0.25% on Thursday, ending at 5,473.17 after briefly surpassing the 5,500 mark for the first time
Despite significant currency interventions by Japan, the yen continues to weaken against non-U.S. currencies, hitting historic lows against the Swiss franc & British pound
Chugoku Electric Power Co. joined the “Floating Offshore Wind Technology Research Association” to advance large-scale floating offshore wind farms

[Blue Lotus Daily]:BZ US/ACMR US/LRCX US/8035 JP/7735 JP/LI US/XPEV US/NIO US/1810 HK

BZ US: Age 16-24 unemployment rate decreased month-on-month for two consecutive periods.(+)
ACMR US/LRCX US/8035 JP/7735 JP: Congressmen put forward bill to block purchase of certain China made semiconductor equipment by US subsidy recipients (-/+/+/+)
LI US/XPEV US/NIO US/1810 HK: New energy vehicles LI continues to lead in the 24th week of 2024 (///////)

China Property Developers In Distress – Weekly News & Announcements Tracker | May June 14-20, 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

#15 India Insight: SBI Fund Raise, 15.4 GW Coal Power, Trade with Europe

India will add 15.4 GW of coal power by March 2025
New deep-water port to boost trade with Europe, completed by 2029
Funds to strengthen capital base and support growth, raised in FY25

[Blue Lotus Daily – TMT Update]:700 HK/BILI US/TCOM US/3690 HK

700 HK: <DnF Mobile> Pulls Game from Certain Chinese Android App Stores Over Revenue Share Dispute(/)
BILI US: Bilibili’s <Three Kingdoms: MDTX> continues strong performance five days after launch(+)
TCOM US/3690 HK: Chengdu Issues RMB 30mn in Tourism Consumption Vouchers to Promote Tourism Spending.(+/+)

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Jun 20

Daily Brief Thematic (Sector/Industry): Hong Kong Property: In Need Of A Good Story and more

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

In today’s briefing:

Hong Kong Property: In Need Of A Good Story
Ohayo Japan | Lower Open After US Holiday
#21Business Buzz: ABD $180 Mn IPO, State Owned Banks Sell Bonds, K29 Secures $120 Mn Loan

Hong Kong Property: In Need Of A Good Story

By David Blennerhassett

When property advisors (JLL, Knight Frank, CBRE etc) debate the bottom of Hong Kong’s office/retail market, such commentary is often infused with cautious optimism.
And for good reason, as vacancies increase, and rents soften.
Recent press articles and anecdotal evidence suggests market uncertainty lingers, prompting landlords to (further) assess their stance on rents.

Ohayo Japan | Lower Open After US Holiday

US Stock market closed for holiday; Nikkei Futures close at a 0.5% discount to cash suggesting a lower open.
Approximately 900 listed companies, or 40%, plan to raise dividends in the fiscal year ending March 2025, totaling an 8% increase to about ¥18 trillion.
Toyota Chairman Akio Toyoda saw a drop in shareholder support, falling to 72% from 85% last year

#21Business Buzz: ABD $180 Mn IPO, State Owned Banks Sell Bonds, K29 Secures $120 Mn Loan

Indian Whiskey Maker Allied Blenders & Distillers Sets Terms for $180 Million IPO
Indian State-Owned Banks Sell Bonds as Foreign Demand Surges Ahead of Index Inclusion
K92 Mining Expands Loan and Offtake Agreement with Trafigura to Advance Kainantu Operations

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Jun 19

Daily Brief Thematic (Sector/Industry): Brain Science – An Opportunity or a Trap? and more

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

In today’s briefing:

Brain Science – An Opportunity or a Trap?
Ohayo Japan | Nvidia Surges
#16 India Insight: Hyundai IPO, Vedanta Growth, HFCL Exemption
#20Business Buzz: GamesStop Shares Fell, Nvidia Insider Selling, Berkshire Reduces Stake in BYD
[Blue Lotus Daily]:981HK/LKNCY US/BGNE US
US Banks – Buy Now, Default Later?
[Blue Lotus Daily – TMT Update]:PDD/BABA /JD/3690HK/VIPS/700HK/CPNG/TEMU/13948 KR/TCOM/ATAT/BILI

Brain Science – An Opportunity or a Trap?

By Vincy Ip

Brain disorders, including various neurological and mental diseases, are the hidden danger with the largest social burden among all diseases.
With strong government support across the globe and accelerating private financing, we identify four key areas of investment opportunities in brain science, including neurotherapeutics, neurodiagnostics, neurosurgery, and brain-computer interface (BCI).
Even though the concept of BCI looks promising, its scalability, application, and monetisation potential remain uncertain in the near term and hence the invesmtent risks would be high.

Ohayo Japan | Nvidia Surges

U.S. stocks edged higher with the S&P 500 and Nasdaq Composite setting new records before the Juneteenth holiday break
Toyota’s shareholders reelected all board members, including Chairman Akio Toyoda, despite advisory firms’ opposition due to recent test irregularities
Nintendo announced that “The Super Mario Bros. Movie 2” will premiere in Japan on April 24, 2026, following its US debut on April 3, 2026

#16 India Insight: Hyundai IPO, Vedanta Growth, HFCL Exemption

Hyundai Motor India files for India’s largest IPO, faces supply chain risks
Vedanta’s growth initiatives aim to boost EBITDA to $10 billion
HFCL, India’s only firm exempt from European optical fiber anti-dumping duties

#20Business Buzz: GamesStop Shares Fell, Nvidia Insider Selling, Berkshire Reduces Stake in BYD

GameStop shares fell 12.1% after a disappointing annual shareholder meeting
Nvidia insiders sell over $700 million in shares as stock soars 164%
Blackstone bids $1.74 billion to acquire Japanese digital comic distributor Infocom

[Blue Lotus Daily]:981HK/LKNCY US/BGNE US

981HK: Huawei Wuhu Supercomputing Center opens services, which benefits SMIC. (/)
LKNCY US: Cotti Coffee Changes Product Formulas and Supply Chain, Ramps up Promotion for Fruit Coffee (-)
BGNE US: AstraZeneca Calquence Phase III results set up competition for BeiGene’s Zanubrutinib

US Banks – Buy Now, Default Later?

By Daniel Tabbush

Credit costs, net charge-offs, are rising rapidly for US credit card companies and also for many banks
The ‘buy now, pay later’ industry is fairly new, Apple’s new announcement to exit this business suddenly, may be testimony to stresses
The proportion of US credit card delinquencies/total US delinquencies is now higher than past credit cycles

[Blue Lotus Daily – TMT Update]:PDD/BABA /JD/3690HK/VIPS/700HK/CPNG/TEMU/13948 KR/TCOM/ATAT/BILI

PDD US/BABA US/JD US/3690 HK/VIPS US: NBS publishes data social retail consumption data for May 2024 (+/+/+/+/-)
700 HK: <Need for Speed Mobile> to officially launch on July 11, with pre-registration surpassed 26 mn (+)
CPNG/BABA/TEMU/139480.KR:Coupang told to stop favoring its own products in its algorithm (-/+/+)

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Jun 18

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

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

In today’s briefing:

Ohayo Japan | New Records
How to Stimulate China’s Consumption, Part III
Online Game Monitor: June 2-16, 2024
INDUSTRY REPORT – Furniture/Furnishings Weekly
The Highlights – Cannabis News for the Week Ending June 14, 2024

Ohayo Japan | New Records

Record Highs: The S&P 500 hit a new record, rising 0.77% to 5,473.23, driven by optimism in economic data and potential rate cuts.
Tech Surge: Major tech stocks, including Apple (+2%) and Microsoft (+1%), led gains. Broadcom surged 5.4%, while Nvidia edged slightly lower despite a record high.
Investment Optimism: Citigroup raised its S&P 500 year-end forecast to 5,600, anticipating continued tech strength and earnings growth, amid cautious hedge fund positioning and potential volatility ahead.

How to Stimulate China’s Consumption, Part III

By Andy Fu

As Chinese population ages, healthcare is a major source of consumption. Yet we are the most pessimistic for it to become a pillar of consumption;
Low healthcare spending in China is achieved by underpaying doctors and nurses. Enhancing life quality, instead of only curing disease, can meaningfully improve consumption;
However, consumer healthcare begets a larger and more common economic phenomenon, which is underpricing. The issue of underpricing stems from low compliance cost, in our opinion.

Online Game Monitor: June 2-16, 2024

By Stan Zhao

Bilibili’s <Three Kingdom: MDTX> achieved excellent results on its release day, leading us to raise our AGB estimation by ~20%.
Tencent’s <Naruto> and <Fight of Golden Spatula> have seen a rapid rise in player reputation due to the success of recent events and operations, leading us to raise their estimates;
NetEase’s <Justice Mobile> has experienced a decline in gross billings due to the game’s lifespan, while pre-registrations for <Where Winds Meet> have reached a new high. We adjusted accordingly.

INDUSTRY REPORT – Furniture/Furnishings Weekly

Furniture/furnishings stocks trailed the broader market.
The Water Tower Research Commercial/Contract Index (-1.7%), Residential Manufacturers & Suppliers Index (-2.0%), and Home Goods Retailers Index (-2.0%) trailed the broader market indexes and the Mass Retailers Index (-1.3% to +1.3%) last week.
LOVE 1Q25 paints a picture of continued weakness in residential furniture even as the company appears to be continuing to gain share.

The Highlights – Cannabis News for the Week Ending June 14, 2024

This week, MSOS dropped 9.34%, while YOLO fell 4.46%. All the top 10 (by enterprise value) MSOs finished down.
Verano (NEO: VRNO, OTCQX: VRNOF) -17.11% and Cannabist (NEO: CBST, OTCQX: CBSTF) -14.17% felt the most pain. Jushi (CSE: JUSH, OTCQX: JUSHF) held up best, losing 5.17% over the past five sessions.
MSOS peaked 1,223 days ago on February 10, 2021, and is in a -87.31% drawdown. .

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Jun 17

Daily Brief Thematic (Sector/Industry): Ohayo Japan | A Quieter Week Ahead and more

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

In today’s briefing:

Ohayo Japan | A Quieter Week Ahead
US Bank HFD – CRE Loans Down A Lot, CRE Loan Growth Can Worsen Much More, Smaller Banks Exposed

Ohayo Japan | A Quieter Week Ahead

Hopes of easing inflation supported a weekly rise of 1.6% for the S&P 500 and 3.2% for the Nasdaq.
Sakana AI, founded in July 2023 by ex-Google researchers and a former Japanese official, is set to raise $125 million at a $1.1 billion valuation, becoming Japan’s fastest unicorn
Kirin Holdings plans to acquire additional shares of FANCL Corporation through a tender offer and share warrants to make FANCL a wholly-owned subsidiary

US Bank HFD – CRE Loans Down A Lot, CRE Loan Growth Can Worsen Much More, Smaller Banks Exposed

By Daniel Tabbush

New HFD shows CRE loan decline in the most recent week sizeable, a greater decline than in any week so far this year
Risk aversion and demand will be drivers, and still CRE loan growth now at -2.4% YoY can see this rate of contraction far lower
Credit costs are the key concern for banks (risk weightings can too be an issue), where smaller banks are infinitely more exposed than the largest US banks

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Jun 15

Daily Brief Thematic (Sector/Industry): China’s Near-Term Semiconductor Bottleneck Isn’t ASML and more

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

In today’s briefing:

China’s Near-Term Semiconductor Bottleneck Isn’t ASML
EU’s Battery and Solar Investments, One Year After, Part I
Global Credit Growth – Thailand, Macau, HK Report Negative Loan Growth, Japan, Indonesia Shine
Japan Weekly | Fancl, Monotaro, Taiyo Yuden, Toho
#19Business Buzz: BOJ Yen Drop, Tesla’s $56B Pay Deal, G7’s Ukraine Support
#15 India Insight: Sensex Crossed Hongkong Market, Vodafone to Sell Indus Stake, Adani Ent
AUCTUS ON FRIDAY – 14/06/2024

China’s Near-Term Semiconductor Bottleneck Isn’t ASML

By Robert McKay

In the past four quarters, Chinese companies bought 65+ ArF (Argon Fluoride) Immersion lithography machines, some capable of overlay precision as fine as 1.5nm overlay for Self-Aligned Double/Quadruple/Octuple Patterning (SAD/Q/OP);
The race is between Chinese foundries to put these lithography machines to meet the raging demand of AI, which looks optimistic in the medium term, despite short-term challenges;
The race is also among the global semiconductor industry to meet the demand for testing the limit of AI’s scaling law. So far the balance tips in disfavor of China.

EU’s Battery and Solar Investments, One Year After, Part I

About a year ago, we started collating battery investments in the European Union. At the time we conclude between 1/4 to a 1/3 were originated from China;
A year later, we revisited and found the ratio has increased. With the latest EU tariff on China-made EV’s, we expect Chinese capacity buildups to quicken;
A total of 1,742 GWh of projects are supposed to go online in EU countries, representing investment of US$150bn, among which China related GWh and investment is ~25%.

Global Credit Growth – Thailand, Macau, HK Report Negative Loan Growth, Japan, Indonesia Shine

By Daniel Tabbush

Thailand, Macau and Hong Kong report negative loan growth in monthly HFD data.
Japan may be the most surprising with relatively high growth and relative to last year.
Indonesia moves from strength to strength, where India loan growth is high, but less so.

Japan Weekly | Fancl, Monotaro, Taiyo Yuden, Toho

The US labor market showed resilience with 272,000 jobs added in May, well above the forecasted 180,000
Fancl’s share price surged by 15% following a report by the Nikkei indicating that Kirin Holdings plans to acquire the company
Toho’s share price fell by 10% this week, driven by disappointing revenue figures for May

#19Business Buzz: BOJ Yen Drop, Tesla’s $56B Pay Deal, G7’s Ukraine Support

Yen weakened 0.8% while bond futures surged after BOJ postponed debt-buying details
Shareholders endorsed Musk’s compensation and Tesla’s incorporation shift to Texas
G7 to use profits from frozen Russian assets for $50 billion in loans to Ukraine

#15 India Insight: Sensex Crossed Hongkong Market, Vodafone to Sell Indus Stake, Adani Ent

S&P BSE SENSEX Index (SENSEX INDEX EQUITY) Surpasses Hong Kong to Become Fourth-Highest Equity Market Globally.
Vodafone to Sell Entire Indus Towers (INDUSTOW IN) Stake Worth $2.3 Billion via Block Deals
State Bank Of India (SBIN IN) Completes Rs 830 Crore Bond Issuance

AUCTUS ON FRIDAY – 14/06/2024

By Auctus Advisors

Chariot (CHAR LN) C: target price of £0.50 per share: High impact well offshore Morocco on track to spud in August – The FY23 financials were in line with our forecasts.
The high impact Anchois East well is expected to spud in August.
A drilling success could increase the size of Anchois to over 1 tcf (300 bcf net to Chariot).

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Jun 14

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Tesla Shareholders Say ‘Yes’ to Mega-Comp Package! and more

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

In today’s briefing:

Ohayo Japan | Tesla Shareholders Say ‘Yes’ to Mega-Comp Package!
Global Semi Sales YTD 2024 & Outlook: The Good & The Not So Good
How to Stimulate China’s Consumption, Part II
#14 India Insight: Ambuja Acquiring Penna, Vodafone Idea & Purvankara Fundraise, L&T, GST
#18Business Buzz: JPMorgan’s $500M Biotech Fund, China’s Car Sales, Tesla’s Pay Package Approval
[Blue Lotus Daily]:1211 HK/300750 SZ/BEKE US/LKNCY US
[Blue Lotus Daily – TMT Update]:BABA /9699HK/DADA/JD/PDD/ZTO/1519 HK/3690 HK/NTES/TCOM/ATAT

Ohayo Japan | Tesla Shareholders Say ‘Yes’ to Mega-Comp Package!

Adobe shares surged 16% in after-hours trading following better-than-expected Q2 results.
Tesla shareholders ratified CEO Elon Musk’s contentious 2018 pay plan at the annual meeting in Austin
Kirin Holdings plans to acquire the remaining 67% of Fancl, aiming to fully own the skincare and supplement company amid declining beer sales.

Global Semi Sales YTD 2024 & Outlook: The Good & The Not So Good

By William Keating

Global semi sales for April ’24 were $46.4 billion, +15.8% YoY & +1.1% MoM
WSTS now forecasts a 16.1% increase in 2024 semi sales, up from 13.1% in their previous forecast
We think the WSTS forecast for Memory is too high & their forecast for Logic is too low. Excluding memory, the WSTS forecast reflects just 3.1% growth in 2024.

How to Stimulate China’s Consumption, Part II

By Andy Fu

Aging population, coupled with under-development of retirement pensions, is the major headwind against enhancing consumption;
The headroom of urbanization as a driver for enhanced consumption is not as big as depicted;
Residential housing has, over the years, become the social safety net for the Chinese. Therefore, the bust of the property market takes many years, if not decades, to heal.

#14 India Insight: Ambuja Acquiring Penna, Vodafone Idea & Purvankara Fundraise, L&T, GST

Ambuja Cements (ACEM IN) to Acquire Penna Cement for Rs. 10,422 Crore
Puravankara Projects (PURVA IN) raising 1000 Cr via QIP and Vodafone Idea (IDEA IN) approved 2458 Cr Preferential allotment
Upcoming 53rd GST Council Meeting to Address Key Taxation Issues

#18Business Buzz: JPMorgan’s $500M Biotech Fund, China’s Car Sales, Tesla’s Pay Package Approval

JPMorgan’s new fund focuses on obesity treatments, especially popular yet scarce GLP-1 drugs
Chinese automakers sold more cars than US brands, marking a significant market shift
Tesla shares rise as Musk anticipates shareholder approval of his controversial $56 billion pay package

[Blue Lotus Daily]:1211 HK/300750 SZ/BEKE US/LKNCY US

1211 HK/300750 SZ: Geely and SK Group sign cooperation agreement to deepen cooperation in batteries and components.(-/-)
BEKE US: PBoC urge local governments and banks to implement the affordable housing re-lending program.(+)
LKNCY US: Luckin expands its non-coffee drinks, selling 5.08 million cups of lemonade in a week(/)

[Blue Lotus Daily – TMT Update]:BABA /9699HK/DADA/JD/PDD/ZTO/1519 HK/3690 HK/NTES/TCOM/ATAT

BABA US/9699 HK/DADA US /JD US /PDD US /ZTO US /1519 HK/3690 HK:Taobao/Tmall to open one-hour delivery option to merchants on its platform (+/+/+/-/-/-/-/-)
NTES US: NetEase showcased their latest tactical shooter game, <FragPunk>, which is expected to launch in 2025.(+)
TCOM US/ATAT US : Travel consumption remained moderate during the Dragon Boat Festival.(-/-)

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Jun 13

Daily Brief Thematic (Sector/Industry): In Court Today With Segantii and more

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

In today’s briefing:

In Court Today With Segantii
Ohayo Japan | Inflation Cools…a Bit
Postcard from Uttar Pradesh | Addressing the Core
HK Strategy: What Are the Best-Of-The-Breed Stocks?
#13 India Insight: India’s Retail Inflation Eases, Tata Motors Guidance, Nestle Royalty, HCL Tech
Manila Trip Report – An emerging Pacific tiger? (Part 1)
[Blue Lotus Daily – TMT Update]:1024HK/BABA US/BIDU US/NTES US/700 HK
[Blue Lotus Daily]:300750 SZ/1211 HK/XPEV US/NIO US/1810 HK/LI US
Fewer Price Hikes in Spring, but Prices Still Rising
#17Business Buzz: BHP Averts Strike, UBS Market Concerns, EU Tariffs on Chinese EVs

In Court Today With Segantii

By David Blennerhassett

Although this note does not encapsulate a trade idea, the fallout from the Capital Management Limited’s (Segantii) insider dealing case has impacted certain event trades, as the fund winds down.
On the 2nd May, the SFC commenced criminal proceedings against Segantii, its founder/ director/CIO Simon Sadler, and former trader Daniel La Rocca.
In the Eastern Magistrates’ Court this morning, we heard the prosecution’s request to transfer the case to the District Court.

Ohayo Japan | Inflation Cools…a Bit

US CPI remained flat over previous month and rose 3.3% over May last year – a slight deceleration
The Federal Reserve concluded its two-day policy meeting on Wednesday by keeping interest rates unchanged in the 5.25%-5.50% range
Japanese companies announced record share buybacks of ¥9 trillion ($57 billion) from January to May, up 60% from the previous year.

Postcard from Uttar Pradesh | Addressing the Core

By Pranav Bhavsar

With the “Postcard” series, our objective is to bring to our readers on-ground insights based on interactions across key channels located in tier 2 and tier 3 locations.
Uttar Pradesh (UP) is crucial in Indian politics with the most Lok Sabha seats and has a diverse economy focused on agriculture, services, and manufacturing.
We are trying to be optimists, but it’s hard to ignore the ground realities, especially when compared to a much less developed and smaller nation like Nepal.

HK Strategy: What Are the Best-Of-The-Breed Stocks?

By Osbert Tang, CFA

The best-of-the-breed constituents are those that outperformed HSI YTD, rallied more than the Index in the Apr-May rebound, and retreated less than the Index in the May-Jun retreat.
Only 4 out of the 82 HSI members made it – China Hongqiao (1378 HK), Tencent (700 HK), China Construction Bank (939 HK), and Orient Overseas International (316 HK).
Their fundamentals look to stay strong, while both valuation and dividend yield appear to remain undemanding despite share price strengths.

#13 India Insight: India’s Retail Inflation Eases, Tata Motors Guidance, Nestle Royalty, HCL Tech

Tata Motors Ltd (TTMT IN) and Dollar Industries guided for their upcoming years and expansion strategy.
India’s Retail Inflation eases to Lowest Since May 2022, now market is waiting for rate cut.
HCL Technologies (HCLT IN) to Establish Product Innovation Centre for Olympus in Hyderabad

Manila Trip Report – An emerging Pacific tiger? (Part 1)

By Pyramids and Pagodas

Initially planned around meeting a Chairman of an exciting listed company (to be covered separately), Altraman’s recent trip to Manila quickly morphed into a slew of meetings with other enterprises.
His first stop was the Philippines Stock Exchange (PSE.PS) – the holding company itself being a potential play on the market as a whole, where he learned of catalysts such as soaring fintech-driven retail investor participation and government reforms to slash transaction costs.
Further afield in Quezon, Altraman met with D&L Industries (DNL.PS), a raw materials manufacturer serving many of the country’s blue chips and multinationals.

[Blue Lotus Daily – TMT Update]:1024HK/BABA US/BIDU US/NTES US/700 HK

1024HK: Kuaishou has launched its AI video generation tool “Kling” and has begun invite-only testing.(+)
BABA US/BIDU US: Alibaba publishes GPT-4 level AI LLM model Qwen2 (+/-)
NTES US:NetEase announced that <World of Warcraft Classic> will begin a public server stress test on June 11th. The Blizzard platform“Battle.net“has already opened for login today.(+)

[Blue Lotus Daily]:300750 SZ/1211 HK/XPEV US/NIO US/1810 HK/LI US

300750 SZ: US lawmakers called to ban CATL and Gotion batteries to US.(+)
1211 HK/XPEV US/NIO US/1810 HK:BYD’s two models equipped with DM-5 exceeded 80,000 pre-order in two weeks.(//-/-/-)
LI US/XPEV US/NIO US/1810 HK: /In the 23rd week of 2024, LI’s electric vehicle deliveries is leading the way, but most of them have fallen back.(///////)

Fewer Price Hikes in Spring, but Prices Still Rising

By Michael Causton

April, which along with October is the month when many Japanese FMCG brands adjust prices, saw far fewer price hikes this year compared to 2023.
Even so, numerous major brands still announced hefty price increases for later in the year.
Meanwhile, government subsidies for utility costs are ending and the weak Yen is an increasing concern for many consumer-facing companies.

#17Business Buzz: BHP Averts Strike, UBS Market Concerns, EU Tariffs on Chinese EVs

UBS merger with Credit Suisse sparks concerns over reduced competition and higher financing costs
EU announces tariffs on Chinese electric vehicles, risking trade tensions with China
Preliminary wage deal at BHP’s Spence copper mine averts potential costly strike

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Jun 12

Daily Brief Thematic (Sector/Industry): SEBI on Review of Eligibility Criteria of Stock Derivatives in India and more

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

In today’s briefing:

SEBI on Review of Eligibility Criteria of Stock Derivatives in India
Ohayo Japan | An Apple Day
Taiwan Semis May ’24 Revenue Roundup. Looking Good Across The Board
How to Stimulate China’s Consumption? Part I
#12 India Insight: SBI & Union Bk Fundraise, Tata Steel, Persistent System & Google, Dominos Target
#16 Business Buzz: Apple AI, GM’s Buyback, Alaska Air Case and Ola Electric IPO
Crypto Datacenters NAV
Weekly Sustainable Investing Surveyor – Week Ended June 7, 2024

SEBI on Review of Eligibility Criteria of Stock Derivatives in India

SEBI released consultation paper to reassesses stock derivatives eligibility criteria in line with the market growth.
Aiming to improve liquidity and reduce manipulation with new entrants and removal of some illiquid stocks.
Nuvama released list of stocks that can be possible part/exit from F&O if this consultation paper implemented.

Ohayo Japan | An Apple Day

U.S. stocks mostly climbed on Tuesday, driven by a surge in Apple Inc., which soared 7.3% to a new record, marking its largest gain since November 2022
Japan and the U.S. to enhance defense industry cooperation, focusing on joint missile production, ship and aircraft repair
Daiwa Securities Group will acquire a 25 billion yen ($159 million) stake in Japan’s Aozora Bank, raising its ownership to about 20%.

Taiwan Semis May ’24 Revenue Roundup. Looking Good Across The Board

By William Keating

ASPEED blazing a trail with 92.9% YoY revenue growth in May
Quanta, WiWynn, TSMC and Nanya all > 30% YoY revenue growth in May
TSMC looking likely to exceed 30% YoY revenue growth in 2024

How to Stimulate China’s Consumption? Part I

By Andy Fu

Counting of consumption differs among different countries. Chinese definition of consumption (social retail sales) leave out many categories that are included in the definition of consumption of Japan and US;
If we trim the consumption of Japan and US by adopting China’s definition, China actually over-consumes, both by GDP and by individual categories;
If we expand and align China, Japan and US to consist the same categories, the conclusion of China underconsumption becomes true. The categories belong to an older and wealthy society.

#12 India Insight: SBI & Union Bk Fundraise, Tata Steel, Persistent System & Google, Dominos Target

State Bank Of India (SBIN IN) and Union Bank Of India (UNBK IN) Board Approves Fundraise in form of Debt and Equity
Tata Steel Ltd (TATA IN)‘s £1.25 Billion Investment at Risk Amid UK Political Uncertainty
Jubilant Foodworks (JUBI IN)’s India Reaches Milestone of 2,000 Stores, Plans Further Expansion

#16 Business Buzz: Apple AI, GM’s Buyback, Alaska Air Case and Ola Electric IPO

Apple (AAPL US) ’s AI debut was going to be a complicated one considering challenges highlighted privacy concerns over partnership with Chat GPT.
General Motors (GM US) Approves $6 Billion Share Buyback Amid Strong Gasoline Vehicle Demand
Alaska Air Group (ALK US) Loses Appeal in $160 Million Trademark Case with Virgin America (VA US) Group

Crypto Datacenters NAV

By Douglas O’Laughlin

There’s a gold rush in the world of AI for not just GPUs, but for datacenters and the power connections that supply them.
Imagine this, you just bought 100,000 GPUs from Nvidia and you don’t have a place to put them or the power to feed them.
Not being first to market is a huge cost, as the GPU pay back times are very quick right now even for the H100.

Weekly Sustainable Investing Surveyor – Week Ended June 7, 2024

The WTR Sustainable Index was down 3.6% W/W versus the S&P 500 Index (up 1.3%), the Russell 2000 Index (down 2.1%), and the Nasdaq Index (up 2.5%).
Energy Technology (14.6% of the index) was down by 4.6%, while Industrial Climate and Ag Technology (58.5% of the index) was down by 3.4%, ClimateTech Mining was down 8.5%, and Advanced Transportation Solutions (21.0% of index) was down 2.9%.
Top 10 Performers: RCKTF, NVVE, ROOF, CVW, GMGMF, NAAS, WPRT, OESX, COMM, AMSC

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Jun 11

Daily Brief Thematic (Sector/Industry): Ohayo Japan | S&P 500 and Nasdaq Hit New Highs and more

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

In today’s briefing:

Ohayo Japan | S&P 500 and Nasdaq Hit New Highs
Computex 2024 & The Drama Of The CoPilot+ PC Launch
Thematic Report: Capex Fueling Economic Growth and Development
#11 India Insight: GAIL 60000Cr Project, Paytm Layoff, Suzlon CG Issues, Axiscades Drone Order
NVIDIA’s $3T Valuation: Absurd Or Not?
#15Business Buzz: Noble Acquires Diamond Offshore, Southwest Stock Jumps, Europe Attracts Chinese EV
Furniture/Furnishings Weekly – June 10, 2024
The Highlights – Cannabis News for the Week Ending June 7, 2024

Ohayo Japan | S&P 500 and Nasdaq Hit New Highs

Nvidia’s 0.8% rise, following its 10-for-1 stock split, and Meta Platforms’ nearly 2% jump propelled the S&P 500’s tech sector up by 0.3%
At WWDC24, Apple unveiled major updates, including “Apple Intelligence” AI features across its devices, and integration of OpenAI’s ChatGPT with Siri.
Hitachi Energy plans an additional $4.5 billion investment by 2027 to enhance its global manufacturing, R&D, and digital capabilities, doubling its recent three-year investments

Computex 2024 & The Drama Of The CoPilot+ PC Launch

By William Keating

Intel, AMD & Qualcomm all lined up in support of Microsoft’s CoPilot+ PC program during the Computex 2024 keynotes last week.
While Qualcomm is all in and AMD mostly too, Intel’s support is more passive agressive in nature. We outline how & why this is the case
On Friday June 7, reacting to customer feedback, Microsoft announced that their CoPilot+ Recall feature will now become disabled out of the box by default. Ouch!

Thematic Report: Capex Fueling Economic Growth and Development

Overall, the surge in CAPEX in India reflects a positive outlook for the economy, with investments in infrastructure and emerging sectors driving growth and innovation. come.
The strong balance sheet of companies and healthy tax collections further support this trend, indicating a sustainable path towards economic development.
As CAPEX continues to rise and investments in key sectors increase, India is poised for continued growth and prosperity in the years to

#11 India Insight: GAIL 60000Cr Project, Paytm Layoff, Suzlon CG Issues, Axiscades Drone Order

Gail India (GAIL IN) to Invest Rs 60,000 Crore in Ethane Cracker Project in Madhya Pradesh.
Suzlon Energy (SUEL IN) Director Resigns Citing Governance Concerns in his letter
Masdar, JSW Energy Ltd (JSW IN), Torrent Power (TPW IN) , and More Eye Enel’s Indian Assets

NVIDIA’s $3T Valuation: Absurd Or Not?

By Value Investing

Much ado has been made about Nvidia’s valuation recently surpassing Apple’s, standing at a gobsmacking $3 trillion.
For context, it would take you nearly 100,000 years to count to 1 trillion.
But where there’s sky there’s limit, and NVDA is no exception. So the question begs: has NVDA’s valuation flown too close to the sun?

#15Business Buzz: Noble Acquires Diamond Offshore, Southwest Stock Jumps, Europe Attracts Chinese EV

Noble expands fleet and operations, acquiring Diamond Offshore in major merger
Southwest shares soar as Elliott Investment plans $2 billion recovery strategy
Europe attracts Chinese EV makers with incentives despite looming EU tariffs

Furniture/Furnishings Weekly – June 10, 2024

A rough week for smaller-cap stocks without AI exposure.
The WTR Commercial/Contract Furniture Index (-6.9%), Residential Manufacturers & Suppliers Index (-1.4%), and Home Goods Retailers Index (-1.3%) underperformed the Dow (+1.2%), S&P 500 (+1.2%), and Mass Retailers Index (+1.9%), all of which benefited from the growing AI hype this week.
This performance seems to be partly due to the overall weakness of small caps, with the Russell 2000 clocking in (-1.7%).

The Highlights – Cannabis News for the Week Ending June 7, 2024