In today’s briefing:
- Japan Morning Connection: Softbank Further Consolidating Its AI Focus
- Ohayo Japan | US Stocks Flatline as Post-Election Rally Loses Steam
- # 70 India Insight: SBI Climate Fund, IOCL Expansion, L&T Contract
- China Has Stockpiled Arsenals to Meet Trump’s Tariff War
- Sustainable Investing Surveyor – November 11, 2024
- US Biofuels Outlook – Five Trends to Watch in 2025
- Biopharma Week in Review – November 11, 2024
- Cannabis Trends Update – Five Factors That Will Drive 2025
- Furniture/Furnishings Weekly Post-Election Market Swings – November 11, 2024
Japan Morning Connection: Softbank Further Consolidating Its AI Focus
- Further tech weakness in the US as markets brace for a more inflationary outlook.
- Isetan Mitsukoshi numbers and new MTP should end recent underperformance.
- Excessive Nintendo weakness on PIF cutting holdings a chance to buy ahead of new NSW announcement.
Ohayo Japan | US Stocks Flatline as Post-Election Rally Loses Steam
- The S&P 500 closed nearly unchanged on Wednesday, as traders digested the in-line October consumer price index report (+2.6%)
- SoftBank has unveiled plans for an ambitious AI grid in Japan, aiming to deploy 200,000 mini data centers across the country.
- Seven & i Holdings, owner of Japan’s 7-Eleven convenience stores, is exploring a potential management buyout valued at over ¥6 trillion
# 70 India Insight: SBI Climate Fund, IOCL Expansion, L&T Contract
- L&T Secures ‘Ultra Mega’ Contract for Thermal Power Plants with NTPC
- Indian Oil Corporation Refinery Expansions to Conclude by December 2025
- SBI Ventures Plans to raise INR 2,000 Crore Climate Fund
China Has Stockpiled Arsenals to Meet Trump’s Tariff War
- Last week, China’s RmbB12tn debt swap plan fall short of investors’ expectations. The pattern of trying to control the release of stimulus and manage the expectations is obvious;
- We notice that the government has injected more-than-required liquidity to the bank system. Such magnitude can only be explained by preparation for a long, drawn-out war;
- MOF’s injection to banks to beef up capital adequacy ratio likely indicates the amount of stimulus that is about to happen to reflate the balance sheets of the local governments.
Sustainable Investing Surveyor – November 11, 2024
- The WTR Sustainable Index was up 3.6% W/W versus the S&P 500 Index (up 4.7%), the Russell 2000 Index (up 8.6%) and the Nasdaq Index (down 3.7%).
- Energy Technology (13.8% of the index) was down 0.3%, while Industrial Climate and Ag Technology (48.0% of the index) was up 5.3%, ClimateTech Mining was down 3%, and Advanced Transportation Solutions (20.8% of index) was up 3.2%.
- Top 10 Performers: EXROF, FREY, GWTI-US, ZEV, BE, PSIX, NEOV, LICY, SMR-US
US Biofuels Outlook – Five Trends to Watch in 2025
- Despite the US biofuels industry facing challenges in 2024, including oversupplied renewable credit markets, lower-than- expected voluntary demand, election uncertainty, and a drop in profits, the industry made progress in many areas, including the advancement of sustainable aviation fuel (SAF) projects and hubs.
- We highlight five biofuel trends that will continue to have an impact in 2025.
- In 2024, the lack of guidance from the US Treasury Department on the 45Z clean fuel tax credit continued to be a key source of concern among biofuels producers, SAF project developers, and farmers.
Biopharma Week in Review – November 11, 2024
- We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A.
- Last week, election headlines and earnings dominated the news cycle.
- The Trump win could be positive for biopharma if RFK Jr.’s influence can be held in check.
Cannabis Trends Update – Five Factors That Will Drive 2025
- 2024 is shaping up to be another difficult year for cannabis investors.
- The lack of federal reform and Florida failing to pass Amendment 3 have dampened spirits and lowered expectations, stock prices, and valuations as we head into the new year.
- Below are five factors we expect to have an impact on the cannabis industry in 2025.
Furniture/Furnishings Weekly Post-Election Market Swings – November 11, 2024
- The markets moved sharply higher on Tuesday’s election results, with the ‘risk-on’ trade, lower uncertainty, enhanced prospects for domestic manufacturing given the incoming administration’s views on trade, and hopes for a ‘lighter’ regulatory approach boosting stocks.
- The Water Tower Research Commercial/Contract Furniture Index was up 6.2% and the WTR Mass Retailers Index was up 4.7% for the week, while the WTR Residential Manufacturers & Suppliers Index was flat and the Home Goods Retailers Index was down 3%. The DJ30 and S&P 500 were both up 5% and the R2K was up 8.2%.
- How should we explain this divergence? The Commercial/Contract Index likely benefited from expectations for stronger GDP growth and better profits, both catalysts for corporate investment.
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