In today’s briefing:
- Good Morning Japan |Beta Rally Continues on Expectations of Tame CPI Print
- Bolivia: The First Failed Lithium-State
- Macau Casino Sector: Valuing Shares of Market by Company Driven by Post Zero Covid Pent up Demand
- Loan Uptick Is Not a Sign of Real Recovery in Private Corporate Investment
Good Morning Japan |Beta Rally Continues on Expectations of Tame CPI Print
- OVERSEAS: SPX +0.7% SOX +1.35; Beta rally continues on lower CPI print expectations; Cyclicals lead 10/11 SPX Sectors positive; MSFT considers $10bn OPEN AI investment; Record Boeing orders in 2022.
- JAPAN: NKY Futs +0.3% premium to Cash; USDJPY steady ¥132.1; Hot Tokyo CPI print; Big wage hikes at Fast Retail; Travel – China strikes back; +ve JP Boeing supply chain.
- DAILY NUGGETS: Hydrogen – a clean alternative. Japan is set to lead as companies ramp up R&D protection with a view to commercialisation.
Bolivia: The First Failed Lithium-State
- At the dawn of the EV-revolution, Bolivia is at risk of being the first failed lithium state.
- Elon Musk has been pointed out as one of the key suspects behind political crisis in the country.
- Read why there is still a bullish case for Bolivian lithium.
Macau Casino Sector: Valuing Shares of Market by Company Driven by Post Zero Covid Pent up Demand
- Estimates of total GGR for the first recovery year ahead vary from a low of US$9b to US$18b.
- Starting with baseline 2023 shares of market we project projected revenue for 2023.
- Non-Gaming revenue was 10% pre-pandemic. Macau official goal is 20% of GGR, not likely in 2023 but some properties will gain share because of room capacity.
Loan Uptick Is Not a Sign of Real Recovery in Private Corporate Investment
- Government-Owned companies contributing to overall banks’ loan growth as growth rate is higher as compared with the private sector companies
- Loan growth of private sector companies appears mainly for working capital purposes
- Fresh private sector investment to stimulate the economy appears unlikely on account of poor future demand
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