Thematic (Sector/Industry)

US stocks fell on Thursday as tech investors reacted to a key inflation report showing a surprising monthly decline in consumer prices
The yen surged over 2% against the dollar following the US inflation report and speculation of Japanese market intervention
Fast Retailing, owner of Uniqlo, reported a net profit of 116.9 billion yen ($720 million) for the quarter ending in May, a 37.4% increase

[Blue Lotus Daily-TMT Update]:PDD US/META/700 HK/NTES/BIDU/3690 HK/JD/DADA/DDL/002024 CH/SHEIN/BABA

PDD US/META US: Temu continues to be the most downloaded app in the US (+)
PDD US : PDD launching new ad-tool to replace previous tools (+)
700 HK: Tencent’s Third-Person Shooter Game <Synced> Announces Termination of Service on September 9th (-)

US Banks – Weekly US Bankruptcies Rising, US Consumer Defaults More Risk to Large Banks

By Daniel Tabbush

HFD on US bankruptcy filings suggest more stresses to come from consumer card loans
US large banks are more exposed to consumer card loans, but small banks have more CRE
Even where many are seeing far higher charge-offs and impairment costs, HFD suggests these will rise more, and historical peaks, are also far higher

[Blue Lotus Daily]:LKNCY US/1810 HK/NIO US/XPEV US/1211 HK/MNSO US/3690 HK/981 HK/AAPL US/700 HK

LKNCY US: Luckin Coffee Opens Its 20,000th Store . (+)
1810 HK/NIO US/XPEV US/1211 HK:July holiday saw normal seasonliaty in EV sales, Xiaomi ramp up nicely（///////）
XPEV US: Details of new refreshed Xpeng sedan P7 revealed (+)

China Property Developers In Distress – Weekly News & Announcements Tracker | July 4-11, 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

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Jul 11

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Nikkei Futs Point to Strong Open and more

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

In today’s briefing:

Ohayo Japan | Nikkei Futs Point to Strong Open
#28 India Insight: ONGC INR 2 Crore Investment, Jupiter Wagons QIP, Indian Defence Exports Surged
China’s E-Commerce Is Not as Bad as the Stock Prices Suggest
Manila Trip Report – An emerging Pacific Tiger (Part 2)
Five Trends in 2H24 – Tweaking Growth Expectations for Key Markets in 2024
Structural Rise in the Cost of Grid Electricity to Support Rooftop Solar Installations

Ohayo Japan | Nikkei Futs Point to Strong Open

US stocks soared to fresh all-time highs on Wednesday, buoyed by Jerome Powell’s remarks on Capitol Hill
Uniqlo is focusing on larger flagship stores in Europe to enhance brand visibility and boost sales. Fast Retailing reports today
Yokohama Rubber is negotiating to acquire Goodyear Tire & Rubber’s off-road tire unit for over $1 billion

#28 India Insight: ONGC INR 2 Crore Investment, Jupiter Wagons QIP, Indian Defence Exports Surged

ONGC plans a Rs 2 lakh crore investment for net-zero carbon emissions by 2038, boosting shares
Jupiter Wagons’ shares dropped 3% following the announcement of a Qualified Institutional Placement
India’s defence exports surged 32.5% to Rs.21,083 crore in FY24, reflecting robust growth and global reach

China’s E-Commerce Is Not as Bad as the Stock Prices Suggest

By Robert McKay

There have been various rumors regarding China’s consumption in general and e-commerce trend in particular. Two of the recent ones are weak 618 sales and keep-it-refunds;
While we are in general pessimistic on Chinese consumption in the medium term, government subsidies and consumption vouchers are helping to keep consumption, especially e-commerce, going in healthy pace;
Our TOP PICKS are Alibaba and PDD, both trading at attractive valuations of 7.4x and 9.5x CY24 P/E. Solid June consumption, positive 3Q outlook, and EPS expansion are upcoming catalysts.

Manila Trip Report – An emerging Pacific Tiger (Part 2)

By Pyramids and Pagodas

In the vibrant Philippine gaming industry, we found one casino operator particularly poised to capitalize on the growth story.
With higher growth rates, less competition, and lower taxes than Macau, now may be an opportune moment for value investors looking to cash in on the gaming boom.
With a strategic focus on expansion, the operator opened another casino this year in Quezon City, which looks set to be a major driver of group revenues over the few years should it follow a similar growth trajectory to the group’s flagship property in Entertainment City.

Five Trends in 2H24 – Tweaking Growth Expectations for Key Markets in 2024

We expect e-commerce to have a strong 2H24, allowing the sector to meet or exceed 11% growth expectations 2024 as Amazon’s same-day/one-day initiatives appear to be reviving the secular shift from brick-and-mortar retailers.
We continue to watch other secular adoption trends, including mobile commerce (m- commerce) and buy now, pay later (BNPL), which should also help drive growth.
Despite some signs of a slowing economy/consumer, digital advertising should have a solid 2H24 and meet/slightly exceed 9% growth expectations for the year.

Structural Rise in the Cost of Grid Electricity to Support Rooftop Solar Installations

Factors that are accelerating the electricity consumption outlook include: the rise of datacenters and AI (see figure on top right), electrification of everything from vehicles to buildings and oil & gas infrastructure, onshoring and reshoring of industry, more severe weather patterns, and clean hydrogen (electrolysis).
Growing Backlog of Power Projects There are a significant number of new power generation projects that are coming online and that have been proposed in the US.
However, growing backlogs suggest that the projects may not be getting approved as fast as developers would like to see (see Figure 5).

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Jul 10

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Marginal Gains and more

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

In today’s briefing:

Ohayo Japan | Marginal Gains
Sebi Crackdown on India’s F&O Market, Weekly Expiries Etc.
#27 India Insight: Adani to Launch Shipbuilding, Xiaomi Plans to Double Shipment, Hyundai IPO
China Online Marketplaces: It Was a Bumpy Journey but the Worst Is Behind Us
Autonomous Driving Leadership Landscape
[Blue Lotus Daily-TMT Update]:3690 HK/TCOM US/700 HK/JD US/BABA US/PDD US/1519HK/ZTOUS/NTESUS/BILIUS
[Blue Lotus Daily]:300750 SZ/9992 HK/1810 HK/1519 HK/ZTO US/SE US/ATAT US/981 HK/000977 CH

Ohayo Japan | Marginal Gains

The S&P 500 gained 4.13 points (0.1%) to close at a record 5,576, marking its 36th record close in 2024
Recruit Holdings will buy back up to 600 billion yen, its largest ever
Oriental Land, operator of Tokyo Disney Resort, announced plans to enter the cruise business with a project costing about 330 billion yen, set to launch in FY2028.

Sebi Crackdown on India’s F&O Market, Weekly Expiries Etc.

By Nimish Maheshwari

SEBI plans to increase F&O contract sizes, limit weekly options, and introduce stricter trading measures.
Aimed at protecting small investors from risks, these changes may reduce retail participation in derivatives trading.
SEBI’s initiative emphasizes investor protection, potentially stabilizing the market by reducing speculative trading.

#27 India Insight: Adani to Launch Shipbuilding, Xiaomi Plans to Double Shipment, Hyundai IPO

Gautam Adani to Launch Shipbuilding at Mundra Port Amid Global Demand Surge
Hyundai Faces Pressure from Tata and Mahindra Ahead of $3.5 Billion India IPO
Xiaomi plans to double shipments in India, targeting 700 million devices within a decade

China Online Marketplaces: It Was a Bumpy Journey but the Worst Is Behind Us

By Eric Chen

While we were expecting slow but steady growth for China online marketplaces early in 2023, we did underestimate the enduring impact of China property slump on their recovery.
Sluggish macro environment has come above other factors in driving share performance of China e-commerce stocks, but we see the worst behind us, setting stage for the sector’s up cycle.
We believe sector valuation will gradually normalize going into 2H24/1H25 due to a combination of continuous improvements in fundamental and risk appetites for China assets.

Autonomous Driving Leadership Landscape

By Pyari Menon

For this report we datamined autonomous driving technology (ADT) innovations.
Worldwide over the last decade the ADT sector has seen nearly 25% CAGR growth in patent filings, with over 40,000 patent family filings.
Aptiv PLC (APTV US), with a leadership position in several areas of ADT, strong financials, reasonable valuations and strategic partnerships stands out.

[Blue Lotus Daily-TMT Update]:3690 HK/TCOM US/700 HK/JD US/BABA US/PDD US/1519HK/ZTOUS/NTESUS/BILIUS

3690 HK:Kuaigou Dache (ride hailing) Lowers Commission Rate for Drivers in Tianjin to 10% (-)
TCOM US:Ctrip Introduces Family Card, Allowing Users to Book Trips for Their Elderly Parents (+)
700 HK: <Honor of Kings> to Launch Ranked System Optimization: Points for Wins and Losses (+)

[Blue Lotus Daily]:300750 SZ/9992 HK/1810 HK/1519 HK/ZTO US/SE US/ATAT US/981 HK/000977 CH

300750 SZ: CATL launches new commercial battery brand Tianxing to accelerate truck electrification and defend market share.（/）
9992 HK: Pop Mart’s first LABUBU theme store opens in Bangkok with over RMB10 million in sales on the first day(+)
1810 HK : Huawei to launch three-hinge/ fold smartphone. (/)

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Jul 09

Daily Brief Thematic (Sector/Industry): Ohayo Japan | AI Still Driving Stocks and more

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

In today’s briefing:

Ohayo Japan | AI Still Driving Stocks
Holistic Depression in Hong Kong Property Sector
#26 India Insight: Vedanta Fund Raise, Tata Steel Q1, 7,000 FPO Joining ONDC
Biopharma Week in Review – Jul 8, 2024
Furniture/Furnishings Weekly – Jul 8, 2024

Ohayo Japan | AI Still Driving Stocks

The S&P 500 and Nasdaq closed at record highs on Monday as investors anticipate key inflation data to gauge the sustainability of this year’s market rally
Shares of Corning (GLW) surged 12%, after the company raised its quarterly guidance due to strong demand for its optical connectivity products used in AI applications
Japanese companies, including Sony and Mitsubishi Electric, plan to invest 5 trillion yen in semiconductors by 2029 to boost production of power semiconductors and image sensors

Holistic Depression in Hong Kong Property Sector

By Alex Ng

Hong Kong property sector is undergoing a holistic depression in all sectors including residential, commercial, and retail space.
The RVD residential property price index has dropped by around 25% peak-to-trough. The commercial and retail space has also witnessed similar retreats in recent years.
Outflow of citizens, northward spending trend, and exodus of foreign companies each contributes the decline in their respective sectors. It will hurt consumption as the wealth effect hit the economy.

#26 India Insight: Vedanta Fund Raise, Tata Steel Q1, 7,000 FPO Joining ONDC

Vedanta Aluminium Raises USD 250 Mn in Sustainability Linked Loans
Over 7,000 farmer producer organizations joined ONDC, improving market access and sales
Ather Energy Plans to Go Global in the Next 12-15 Months

Biopharma Week in Review – Jul 8, 2024

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A.
Eli Lilly and Company (LLY) received FDA approval for donanemab (Kisunla) in early Alzheimer’s, which was largely expected following unanimous support from the June AdComm and multiple delays.
The cost of Kisunla is $32K/year, which is at a premium to Leqembi (Biogen, Inc. [BIIB]/Eisai Co., Ltd. [ESAIY]) at $26.5K/year, but total cost per patient should be lower for Kisunla, as treatment can be stopped with amyloid clearance.

Furniture/Furnishings Weekly – Jul 8, 2024

In a holiday-shortened trading week (US Independence Day fell on a Thursday), larger-cap stocks outperformed smaller-cap stocks and the Water Tower Research Furniture/Furnishings indexes trailed the market.
For the week, the WTR Commercial/Contract Furniture Index (-1.2%), Residential Manufacturers & Suppliers Index (-1.1%), and Home Goods Retailers Index (-3.1%) trailed the Mass Retailers Index (+2.2%) and the broader market indexes (-1.0% to +2.0%).
The US Federal Trade Commission (FTC) is officially seeking to prevent Tempur Sealy from acquiring Mattress Firm, citing concerns over corporate power and potential anti-competitive outcomes.

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Jul 08

Daily Brief Thematic (Sector/Industry): Ohayo Japan | All-Time Highs and more

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

In today’s briefing:

Ohayo Japan | All-Time Highs
Apple Intelligence, Powered By ChatGPT. Genius Move Or Desperate Gamble?
GEMWeekly (5 Jul 2024): EU Tariffs on Chinese Online Goods; China Macro; Samsung, Reliance, PDD

Ohayo Japan | All-Time Highs

US stocks surged to all-time highs on Friday, buoyed by the June jobs report which may prompt the Federal Reserve to consider a rate cut.
Japan’s Government Pension Investment Fund (GPIF) reported record gains of ¥45.4 trillion ($282 billion) for the fiscal year ending March
Honda and Sony will use a shared platform for their electric vehicles (EVs) to cut development costs

Apple Intelligence, Powered By ChatGPT. Genius Move Or Desperate Gamble?

By William Keating

Since Microsoft’s association with ChatGPT has become common knowledge, it’s share price has doubled
Since rumours of an impending partnership with OpenAI first emerged, Apple share price is up 37%
The extraordinary valuations of Microsoft & Apple were driven by association with ChatGPT. Revenue growth to justify those valuations must now depend on ChatGPT. Let’s see how that works out.

GEMWeekly (5 Jul 2024): EU Tariffs on Chinese Online Goods; China Macro; Samsung, Reliance, PDD

By Wium Malan, CFA

The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.
Macro data points: Chinese PMI data, South Korean inflation and GDP growth expectations.
Companies mentioned:PDD Holdings (PDD US), Alibaba Group Holding (9988 HK), Samsung Electronics (005930 KS), Reliance Industries (RIL IN)

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Jul 07

Daily Brief Thematic (Sector/Industry): Japan Weekly | Stocks Surge; Retail Rises; Heavies Hover and more

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

In today’s briefing:

Japan Weekly | Stocks Surge; Retail Rises; Heavies Hover

Japan Weekly | Stocks Surge; Retail Rises; Heavies Hover

US Markets: Economic indicators showed signs of slowing, with the ISM Services index contracting and lower-than-expected job growth, hinting at cooling inflation and potential Fed rate cuts.
Japan’s Market: TOPIX and Nikkei surged, buoyed by expectations of positive retail earnings and strong performance in the broader market.
Key Stock Moves: Mercari and MHI saw significant gains due to strategic shifts and favorable sector outlooks, while Ain Holdings fell on acquisition concerns.

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Jul 06

Daily Brief Thematic (Sector/Industry): #25 India Insight: LIC Stake in IDFC and more

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

In today’s briefing:

#25 India Insight: LIC Stake in IDFC, INOX Wind Soars 13%, Reliance Retail to Launch Shein IPO
Taiwan Banks – HFD Profit Figures Good, Tech Exposure Can Support Credit Metrics, Loan Growth
US Battery and Solar Investments, One Year After, Part II
Auctus on Friday – 05/07/2024
Despite Many Years and Efforts, Insurance Covered Online Pharmacies Still Only 0.8-3.6% of Total

#25 India Insight: LIC Stake in IDFC, INOX Wind Soars 13%, Reliance Retail to Launch Shein IPO

Reliance Retail Ventures will launch Shein in India, four years after its ban
Indian Railways plans 10,000 non-AC coaches by 2025-26 to alleviate overcrowding issues
The coal sector achieved a notable 10.2% growth in May, leading key infrastructure industries

Taiwan Banks – HFD Profit Figures Good, Tech Exposure Can Support Credit Metrics, Loan Growth

By Daniel Tabbush

Monthly high frequency data from Taiwan’s banks shows strong profit acceleration through May YTD, which will include insurance investment gains for some
This can be driven by accelerating loan growth to technology companies, to related companies, indirectly and may explain in part, Taiwan’s leading loan growth rate vs other countries
Credit metrics and net profit growth can be supported for Taiwan’s banks by a sector focus that differs from many others in the region and the world

US Battery and Solar Investments, One Year After, Part II

One year after we started tracking solar investment in US, the planned capacity almost doubled to 123GW, comparing to addition of 32GW of capacity added in 2023;
However, there is a lack of wafer, ingot and polysilicon capacity in planning. Only 7GW of ingot capacity is planned, vs. cell capacity rose from 8% of total to 43%;
Chinese participation declined only slightly from 31% to 28%. Lack of wafer, ingot and polysilicon integration means cost of US production stays high. But overcapacity still restrains up stream profitability.

Auctus on Friday – 05/07/2024

By Auctus Advisors

Panoro Energy (PEN NO)C; Target price of NOK52 per share: About to commence drilling in EG – The drilling rig has arrived in EG.
The drilling campaign is about to commence.
It will include two development wells plus an exploration well at the high impact Akeng Deep prospect.

Despite Many Years and Efforts, Insurance Covered Online Pharmacies Still Only 0.8-3.6% of Total

By Andy Fu

Beijing launched the use of medical social insurance (MSI) via online payments, marking MSI payable among all the 1st tier cities in China. But the policy only covers non-prescription;
However, the progress for the online penetration of MSI payment was still slow, reaching only 3.6% of all MSI capable pharmacies and 0.8% of all pharmacies in China;
The reason for the slow adoption is the vested, interlinked interests among local public hospitals, local MSI administrators and public security concerns over drug disbursement.

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Jul 05

Daily Brief Thematic (Sector/Industry): Ohayo Japan | US Closed; EU Higher and more

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

In today’s briefing:

Ohayo Japan | US Closed; EU Higher
#24 India Insight: ONDC to Integrate Banks, Corporate Bond Value Decreased, Indiabulls Name Change
[Blue Lotus Daily]:1211 HK/LI US /1810 HK/NIO US/XPEV US/MNSO US/981 HK/BEKE US/2150 HK
China Property – Weekly New Home Sales Data Now Clearly “Less Negative” (To June 30, 2024)
[Blue Lotus Daily-TMT Update]:BABA US/JD US/3690 HK/TCOM US/NTES US/700 HK/

Ohayo Japan | US Closed; EU Higher

European stocks climbed amid key election developments and rising optimism about potential US interest-rate cuts
Foreign investors drove Japanese stock market gains last week, capitalizing on a weakened yen and global interest in AI-related firms
In the first half of 2024, domestic sales of electric vehicles in Japan plummeted by 39%

#24 India Insight: ONDC to Integrate Banks, Corporate Bond Value Decreased, Indiabulls Name Change

ONDC to Integrate Banks and Fintechs to Expand Credit Services
SEBI Reduces Corporate Bond Face Value to Boost Retail Participation
Vedanta’s Q1 FY25 sees mixed results; aluminium and iron ore output rise

[Blue Lotus Daily]:1211 HK/LI US /1810 HK/NIO US/XPEV US/MNSO US/981 HK/BEKE US/2150 HK

1211 HK/LI US /1810 HK/NIO US/XPEV US: In the 26th week of 2024 (6/24-6/30), new energy vehicles strengthened across the board, mainly due to consumption subsidies（/////////）
MNSO US: Indonesia Plans to Impose 100%-200% Tariffs on Chinese Imports (-)
Macro News Update: Expectations Rise for Consumption Tax Reform (+)

China Property – Weekly New Home Sales Data Now Clearly “Less Negative” (To June 30, 2024)

By Robert Ciemniak

The policy easing and the change in the base effect started to show some impact on new home sales y/y metrics turning ‘”less negative”.
We highlight points from our Weekly New Home Sales Data Update Report, which looks at 16 major cities and the latest data for the week ending June 30.
Certain weekly metrics on a small sample of cities serve as a good gauge for what to expect directionally in the national NBS data released later.

[Blue Lotus Daily-TMT Update]:BABA US/JD US/3690 HK/TCOM US/NTES US/700 HK/

BABA US/JD US/3690 HK: Taobao adds one-hour delivery entrance to app homepage (+/-/-)
BABA US: Alibaba upgrades enterprise-chat application “DingTalk” into an AI super-app (+)
TCOM US :The average ticket price for domestic routes during the summer vacation period decreased by 12%, with a narrowing decline (+)

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Jul 04

Daily Brief Thematic (Sector/Industry): SEBI’s New “True to Label” Circular: End of Zero Fee Era and more

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

In today’s briefing:

SEBI’s New “True to Label” Circular: End of Zero Fee Era
Ohayo Japan | Markets in Celebratory Mood
Asia Credit – HK Weakens More, Indonesia, Taiwan Remain Strong, and Improving
#23 India Insight: Tata Hitachi Market Share, Patanjali Acquires Non-Food Business, ITC Exports
Hardman & Co Monthly: July 2024

SEBI’s New “True to Label” Circular: End of Zero Fee Era

By Nimish Maheshwari

SEBI asked Brokers to to be ‘true to the label’ in how they levy charges.
This can impact 10% of Zerodha (ZERO IN) and 8% of Angel One (ANGELONE IN) Topline.
Rationale behind this circular and its impact on the market.

Ohayo Japan | Markets in Celebratory Mood

The S&P 500 and Nasdaq Composite hit new record highs in Wednesday’s shortened trading session
The German Association of the Automobile Industry reduced its 2024 EV production forecast to 1 million units, citing declining sales due to subsidy cuts.
Daikin Industries plans to boost home air conditioner production by 15% in FY2024 to a record 8.83 million units

Asia Credit – HK Weakens More, Indonesia, Taiwan Remain Strong, and Improving

By Daniel Tabbush

Domestic credit growth in Hong Kong weakened further in latest monthly release at -2.2% YoY. Weekly Centa City Leading Index grinds lower, a more HFD point relevant to credit
The acceleration in domestic credit growth in Indonesia is unique, where growth is up to +11.2% YoY in most recent month vs +5.2% YoY in the same month last year
We remain concerned about credit metrics for HK’s banks given contracting growth, worsening property, which is collateral. Many HK banks have done little in provisioning

#23 India Insight: Tata Hitachi Market Share, Patanjali Acquires Non-Food Business, ITC Exports

Tata Hitachi Targets Increased Market Share Amid Chinese Competition, Plans Manufacturing Expansion
Railways to Receive PLI Boost, Aiming to Reduce Import Dependency and Foster Local Manufacturing
India’s Coal Production Surges 14% in June, Reaching 84.63 Million Tonnes, Boosting Sector Efficiency

Hardman & Co Monthly: July 2024

By Hardman & Co

In 2023, and for the second year running, the Hardman & Co sector index declined, by 3.7%, underperforming both the FTSE 100 and the FTSE All-Share indices.
This is quite unusual for healthcare stocks. Our Index covers 52 companies, only 15 of which saw an increase in their share prices in 2023, and four of those were on account of M&A activity.
Apart from the general economic influences, which have made institutions more risk-averse, there was a common knowledge that several companies were in need of additional working capital; so, share prices were marked down in anticipation of equity raises.

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Jul 03

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

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

In today’s briefing:

Ohayo Japan | Tesla Surprises Wall Street
Online Game Monitor: June 16-July 1, 2024
[Blue Lotus Daily]:1810HK/1211HK/LI/NIO /XPEV/ATAT/2352CH/BEKE/2618HK/2352SZ/ZTO/1519HK/981HK/9699HK
US Battery and Solar Investments, One Year After, Part I
[Blue Lotus Daily-TMT Update]:JD/PDD/BABA/BILI/BIDU/700HK/3888HK/1024HK/NTES /3690HK/TCOM/SE/CPNG/BZ
US EV Charging Infrastructure Tracker: Update – June 2024
#22 India Insight: Increase in Windfall Tax on Crude Oil, L&T Offshore Order, M&M Volume Rise
Fabricated Knowledge Q2 2024 Quarterly Review
[Blue Lotus Daily-TMT Update]:NTES US/BIDU US/AMZN US/BABA US/002230 SZ/9992 HK/1024 HK

Ohayo Japan | Tesla Surprises Wall Street

U.S. stocks climbed on Tuesday, with the S&P 500 and Nasdaq Composite reaching new record highs, driven by a surge in Tesla share
NKY Futures point to a strong open, continuing the strong momentum from yesterday.
Tokio Marine and Sompo maybe planning to sell approximately 500 billion yen ($3.1 billion) worth of Honda shares

Online Game Monitor: June 16-July 1, 2024

By Stan Zhao

Bilibili’s <Three Kingdom: MDTX> continues to show strong monetization performance, Based on our data tracking, we are raising the annual grossing estimate by 25% to approximately RMB 5.5 billion.
NetEase’s <Naraka Mobile> has surpassed 40 million pre-registrations, making it the most pre-registered game in NetEase’s history. We are raising the annual grossing estimate by 20% to RMB 12 billion.
Tencent’s <FGS> has seen a continuous rise in popularity following the release of the new mode. We are raising the annual grossing estimate by 10% to RMB 13 billion.

[Blue Lotus Daily]:1810HK/1211HK/LI/NIO /XPEV/ATAT/2352CH/BEKE/2618HK/2352SZ/ZTO/1519HK/981HK/9699HK

1810 HK/1211 HK/LI US/NIO US/XPEV US: EV sales were strong in the 25th week of 2024, with several brands reaching new highs (/////////)
ATAT US:The first Atour Hotel 4.0 opens in Xi’an. (+)
Ministry of Commerce: Mainland China will increase the tax-free allowance for luggage carried by resident travelers entering from Hong Kong and Macao

US Battery and Solar Investments, One Year After, Part I

One year after June 30, 2023, only 18% more of total battery capacities were added in US, below EU’s 26% more added over the same period;
Chinese companies have largely shunned away from US investments, contributing only 8.7% of total. Most Chinese investments are in the mineral, instead of cell and package segments;
Envision/AESC alone contributed 2/3 of Chinese investments in US and is the only Chinese company investing in the cell segment.None invests in the package segment.

[Blue Lotus Daily-TMT Update]:JD/PDD/BABA/BILI/BIDU/700HK/3888HK/1024HK/NTES /3690HK/TCOM/SE/CPNG/BZ

JD US/PDD US /BABA US: JD launches new low-priced initiative to target lower-tier market (+/-/-)
BABA US/BILI US/BIDU US/700HK: Bilibili and Xiaohongshu inaccessible after 38-minute cloud crash (-/-/+/+)
700 HK: Tencent announces upgraded LLM training system . (+)

US EV Charging Infrastructure Tracker: Update – June 2024

By Garvit Bhandari

Total public EV charging stations (incl. temporary unavailable locations) were 70,222 as of June 30, 2024. Compared to the end of FY23, it is an increase of 8.6%.
Total EVSE charging ports (including the temporary unavailable ports) were188,025, up nearly 11.7% compared to the end of 2023 and up 1.8% over May 2024.
California has the highest number of EV charging stations in the country. It accounts for a 25% share of public EV charging stations and 26% of public EV charging ports.

#22 India Insight: Increase in Windfall Tax on Crude Oil, L&T Offshore Order, M&M Volume Rise

Government Hikes Windfall Tax on Crude Oil to Rs.6,000 per Tonne from Rs.3,250
Larsen & Turbo Secures Significant Offshore Order worth Rs. 2,500 crores from ONGC
Mahindra & Mahindra Total volume Rise 11% YoY to 69,397 Units in June 2024

Fabricated Knowledge Q2 2024 Quarterly Review

By Douglas O’Laughlin

This is my quarterly piece, where I round up all of my favorite ideas (more explicitly) and explain some semiconductor jargon. This is a meta piece of content.
First and foremost, I’ll start with performance. SMH returned 14% this quarter, among the best quarters in history for the semiconductor universe (again).
This quarter’s leader was AOSL, who is rumored to have won a socket at Nvidia.

[Blue Lotus Daily-TMT Update]:NTES US/BIDU US/AMZN US/BABA US/002230 SZ/9992 HK/1024 HK