In today’s briefing:
- Good Morning Japan |More Bank Relief as SPX Gains 0.2%; NUGGET: Softbank- Just Can’t Catch a Break
- HK Equity: 1) Strong Capital Inflow, 2) Pro-Growth Policy, 3) Better Macro Outlook to Drive Rerating
- Weekly Stock Bullfinder – Week of 3/27
- China TMT Update （Mar. 28）- XPEV / LKNCY/BABA : Jack Ma Appears in Hangzhou
- Weekly Sustainable Investing Surveyor: Week Ended March 24, 2023
Good Morning Japan |More Bank Relief as SPX Gains 0.2%; NUGGET: Softbank- Just Can’t Catch a Break
- OVERSEAS. SPX carve out gains on relief Bank rally; Energy leads on Oil supply distruptions; Tech lags on profit taking; Crypto in spotlight as US cracks down on Binance/CEO CZ
- JAPAN. Nikkei Futs -0.5% vs Cash; USDJPY 131.6; Diplomatic Row btw Japan-China brewing on arrest of Japanese national for spying; SMFG expands in Vietnam; Bullish Toray MTP
- NUGGET. Softbank just cannot catch a break. Son-san ARM IPO to be wildly successful. $70bn IPO Valuation seem a tall ask. Can Son-san pull this one off ?
HK Equity: 1) Strong Capital Inflow, 2) Pro-Growth Policy, 3) Better Macro Outlook to Drive Rerating
- While most HK equities are still trading at attractive valuation, it does not mean they can re-rate and many of them can remain value traps
- However with the banking crisis, asset owners are moving their capital to Asia. Hong Kong gov is doing everything to attract family office business
- This, along with improving macro outlook, can drive re-rating. BUY SHKP 16 HK and NWD 17 HK
Weekly Stock Bullfinder – Week of 3/27
- Tech Heavyweights Shouldering the Load- Caution Flags Waving Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&P 500 index performance.
- As of last Friday’s close, the S&P 500 is up about 2% YTD. However, without the contribution of chip maker Nvidia (NVDA) it would be flat YTD.
- Since the end of 2022, few and fewer big cap tech names are now carrying the overall S&P 500 index performance.
China TMT Update （Mar. 28）- XPEV / LKNCY/BABA : Jack Ma Appears in Hangzhou
- BABA: Jack Ma appears in Hangzhou on heels of State Council’s China Development Forum (+)
- XPEV: Xpeng P7i’s lead time extends to 8 weeks on its APP
- LKNCY / BABA: Starbucks and Amap collaborate on “Drive-Thru” service(//+)
Weekly Sustainable Investing Surveyor: Week Ended March 24, 2023
- The WTR Sustainable Index outperformed the broader market, rising 4.0% W/W versus the S&P 500 Index (up 1.4%), the Russell 2000 Index (up 0.5%), and the Nasdaq Composite Index (up 1.7%).
- Advanced Transportation Solutions (70.3% of the index) drove the index performance, rising 5.5%, while Industrial Climate and Ag Technology (22.1% of the index) was up 0.5% and Energy Technology was up 0.7%.
- Top 10 Performers: PSIX, BRDS, PTRA, NGPHF, TGEN, GVP, VIHD, ENG, NIO, EFOI
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