In today’s briefing:
- Index Rebalance & ETF Flow Recap: NKY, ASX, CSI300, A50, STTF, LowVol30, Value Up
- Shifting Its Planned IPO from New York to London Won’t Address Key Risks Facing SHEIN
- Nihon Chouzai (3341): Q3 FY03/24 Update
- TSE Should Aim for a Quality Market Rather than a Market Where Listed Companies Can Easily Inhabit
Index Rebalance & ETF Flow Recap: NKY, ASX, CSI300, A50, STTF, LowVol30, Value Up
- There were a few rebalance announcements in the last week and the SSE STAR50 (STAR50 INDEX) and STAR100 Index rebalances were implemented at the close on Friday.
- There are a lot of rebalances that will be implemented at the close on the coming Thursday and Friday.
- Another big week of inflows for onshore China ETFs with Central Huijin likely behind the big flows to ETFs tracking the Shanghai Shenzhen CSI 300 Inde (SHSZ300 INDEX).
Shifting Its Planned IPO from New York to London Won’t Address Key Risks Facing SHEIN
- A listing in London would not remove de minimis reform risk in US market
- A new report quantifies the potential cost of changes to US de minimis rules
- Europe’s rigorous new ‘digital services’ laws are an emerging threat to SHEIN
Nihon Chouzai (3341): Q3 FY03/24 Update
- Nihon Chouzai (3341 JP) is an integrated healthcare company whose core business is the operation of dispensing pharmacies.
- In FY03/23, Nihon Chouzai reported sales of JPY313.3bn, operating profit of JPY7.6bn, recurring profit of JPY7.7bn, and net income attributable to owners of the parent of JPY4.5bn.
- Nihon Chouzai Co., Ltd. announced the retirement of treasury shares.
TSE Should Aim for a Quality Market Rather than a Market Where Listed Companies Can Easily Inhabit
- Even if TSE requires new listed companies to disclose the reasons for listing and the possibility of raising funds, it’s questionable whether this will motivate them to grow their businesses.
- Companies that are not eligible for investment in terms of market capitalization and trading liquidity criteria will not be effective if they seek contact with institutional investors.
- If unlisted stock markets are created, IPOs will increase in size. If listing criteria are raised to tens billion yen in market capitalization, institutional interest in growth market will increase.
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