In today’s briefing:
- HK RE Series (1): Picking the Winners for 2024 with Supportive Macro Backdrop & Company Catalysts
- Ohayo Japan | Eyes on the BoJ; Toyo Engineering a Play on Controversial Biomass
- Furniture/Furnishings Weekly – Earnings Misses Lead Home Furnishings Lower
- The Highlights – Cannabis News for the Week Ending October 27, 2023
HK RE Series (1): Picking the Winners for 2024 with Supportive Macro Backdrop & Company Catalysts
- In this original series, we do a deep-dive on 4 HK real estate companies: SHKP, CKA, NWD, LINK REIT, and explain why we think they have an exciting year ahead
- We believe the current macro backdrop in US, China and Hong Kong will support our investment thesis in real estate, with each company having additional catalysts to drive re-rating
- Depending on investors’ appetite, style and mandate, we discuss multiple trading strategies that can play around these 4 names, including absolute, relative and yield plays
Ohayo Japan | Eyes on the BoJ; Toyo Engineering a Play on Controversial Biomass
- Overseas: SPX +1.2%, Nasdaq +1.1%; Oil prices slide. Nike, GS, and Verizon all up over 3%
- Today: NKY Futs -0.3% v cash. JPY 149.1; All eyes on the Bank of Japan meeting
- JapanX: Biomass Energy – A Controversial Path to Sustainable Power in Japan, but good news for Toyo Engineering
Furniture/Furnishings Weekly – Earnings Misses Lead Home Furnishings Lower
- Home goods retailers and furniture manufacturers fell in a week of tough earnings news.
- Ethan Allen Interiors (ETD) reported adjusted EPS of $0.63 for 1QFY24, down from $1.11 last year and below consensus of $0.72.
- Positives in the quarter included a 70-basis point improvement in gross margin of 61.1% despite 23% lower sales.
The Highlights – Cannabis News for the Week Ending October 27, 2023
- Stocks got hammered again this week, with the MSCI World Index falling 2.24% and the S&P 500 losing 2.50%.
- The S&P is off 10.61% from its July 7 high, which is formally a correction. Higher yields and mixed mega-cap tech earnings have driven the decline.
- Cannabis stocks continued their six-week slide. The US cannabis MSOS ETF lost 21.56% this week and is -46.93% since its high on September 15.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
