In today’s briefing:
- JFE Holdings (5411) – Volume Patterns Indicate Possible Squeeziness
- Australia: S&P/ASX, REMX, GDXJ, MVA, MVW & Other Index Flows on Friday
- Supply Tightness, Robust Demand Could Push Crude Oil Prices Into Triple Digit Territory
- Daiichi Kigenso Kagaku-Kogyo (4082) – Niche Global Leader Aiming for Long-Term Sustainable Growth
JFE Holdings (5411) – Volume Patterns Indicate Possible Squeeziness
- On 5 September, JFE Holdings (5411 JP) saw an article out of a capital raising. It was confirmed later in the day. Huge volumes traded. The stock fell sharply.
- The offering supply/demand dynamics are…. complicated. The offering is to foreign instos. The net demand is probably mostly retail and index, and positioning is… also complicated.
- The EPS dilution is already accounted for. The fall against Nippon Steel pretty much does it after considering the discount expected.
Australia: S&P/ASX, REMX, GDXJ, MVA, MVW & Other Index Flows on Friday
- Changes to the S&P/ASX indices, REMX US, GDXJ US, MVA AU, MVW AU and other indices will be implemented at the close on Friday.
- There is over +/-A$5m to trade or +/-3x ADV to trade on nearly 100 stocks and will be a huge volume day for the stocks at the close.
- Use the volume on the buy and sell side to increase/reduce positions especially on the deletes where there will be liquidity to cover shorts on stocks that have dropped significantly.
Supply Tightness, Robust Demand Could Push Crude Oil Prices Into Triple Digit Territory
- Oil majors to extend voluntary production cuts with an eye to pushing crude oil prices to $100/barrel.
- Demand for oil at record highs, fueled by strong travel, increased oil usage in power production & solid Chinese petrochemicals activity.
- Refiners are reaping near-record profits as their throughputs are set to reach a summer peak of 83.9m bpd in August.
Daiichi Kigenso Kagaku-Kogyo (4082) – Niche Global Leader Aiming for Long-Term Sustainable Growth
- A transforming market leader – Daiichi Kigenso Kagaku-Kogyo is a global leader in manufacturing zirconium compounds, used by a wide range of industries from automotive to consumer electronics.
- The company has embarked on a transformation, identifying carbon neutrality and electrification as key structural growth themes.
- The midterm management plan targets strategic investment in semiconductors/electronics, energy, and healthcare.
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