In today’s briefing:
- Japan Weekly | Renesas, Ibiden Get Slammed in Tech Rout
- [Blue Lotus Daily-TMT Update]:1797 HK/JD US/BABA US/PDD US/3690 HK/1024HK/700HK/NTE US/TCOMUS/AMZNUS
- [CB 29/2024]: Wheat Pressured,Corn Rallies,Soybean Remains Volatile on Political & China Uncertainty
- China’s AI Models Struggle to Bring Transformative Use, Executive Says
- # 35 India Insight: Bajaj Auto Investment, Emami Acquire Man Company, WeWork India New Workspaces
- AUCTUS ON FRIDAY – 26/07/2024
- HK RE Series (3): Global Macro Starts to Turn More Supportive, Stock Valuation Is Compelling
- [Blue Lotus Daily]:1810 HK/AAPL/981 HK/LKNCY US/BZ US/LI US/1211 HK
- Challenging Time for Trust Firms as Six Out of 10 Report Weaker Results
Japan Weekly | Renesas, Ibiden Get Slammed in Tech Rout
- The Topix declined by 5.6%, while the Nikkei lost almost 2,400 points, or 6%. However, equities took a back seat to the FX market
- Given the currency movements and the global tech sell-off, it’s no surprise that the worst performers were semiconductors (-10%) and autos (-9%).
- The recent market movements appear to have been driven primarily by macro events, particularly the yen’s reversal, which impacted high beta and momentum stocks.
[Blue Lotus Daily-TMT Update]:1797 HK/JD US/BABA US/PDD US/3690 HK/1024HK/700HK/NTE US/TCOMUS/AMZNUS
- 1797 HK/JD US: Popular live streamer Dong Yuhui leaves East Buy (-/+)
- BABA US/PDD US: AliExpress receives small fine in Korea due to data privacy violation (+)
- Chinese Gaming Industry: Games Can Now Be Filed for Testing Without Approval of Game Code, Guangdong Province Leads the Way (+)
[CB 29/2024]: Wheat Pressured,Corn Rallies,Soybean Remains Volatile on Political & China Uncertainty
- Wheat trading sideways on weather concerns, but bearish sentiment driven by ample supplies is likely to prevail.
- Corn prices rally significantly driven by unfavorable weather conditions and strong export demand. Analysts expect bearish turnaround.
- Soybeans recover on US presidential election uncertainty; but speculation is overshadowed by persistent concerns over Chinese demand.
China’s AI Models Struggle to Bring Transformative Use, Executive Says
- Industry executives attending the World AI Conference in Shanghai expressed concerns about recurring technological issues in the development of large language models (LLMs) and offered possible solutions, as demand for more reliable artificial intelligence (AI) models designed for sector-specific software grows stronger.
- The issues also come as China’s tech titans have kicked off a new round of price cuts for their AI models, extending a fierce price war in an effort not to lead the industry but to gain more users for their cloud businesses — a key resource for AI developers.
- Xu Li, CEO of Chinese facial recognition and AI specialist SenseTime Group Inc.
# 35 India Insight: Bajaj Auto Investment, Emami Acquire Man Company, WeWork India New Workspaces
- Bajaj Auto to invest INR 800 crore in Maharashtra to boost electric three-wheeler production.
- Emami plans to fully acquire The Man Company, enhancing its digital-first brand portfolio.
- WeWork India to launch new workspaces in Bengaluru and Noida, addressing flexible workspace demand.
AUCTUS ON FRIDAY – 26/07/2024
- AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target of A$0.75 per share: Diversified and high impact newsflow over the balance of 2024 – ADX has confirmed a very busy programme of activity from September.
- The overall unrisked value of the programme is ~A$1.70 per share, which represents 17x the current share price.
- In early September, ADX will drill the Anshof-2A side track.
HK RE Series (3): Global Macro Starts to Turn More Supportive, Stock Valuation Is Compelling
- We look at the global macro themes that are impacting the equity market including the US election, the Fed and China’s latest rate cut
- We also look at the latest condition in Hong Kong, including the rates, the economy and the physical RE market
- HK RE stocks continue to trade at compelling valuation, but fund flows are needed if we want a re-rating
[Blue Lotus Daily]:1810 HK/AAPL/981 HK/LKNCY US/BZ US/LI US/1211 HK
- 1810 HK/AAPL: Xiaomi’s China unit volume grew 17% yoy in 2Q (+/-)
- 1810 HK: Xiaomi acquires more land to build another EV factory (+)
- 981 HK/1810 HK: SMIC’s upcoming “5nm” process to feature significant efficiency improvement (+/-)
Challenging Time for Trust Firms as Six Out of 10 Report Weaker Results
- Nearly six out of 10 of China’s trust companies saw their revenue and profit decline in the first half of 2024, reflecting challenges amid a regulator crackdown on an industry plagued by scandals.
- Among the 53 trust companies that have published their unaudited first half financial results, 13 reported net profits of less than 100 million yuan ($13.8 million) and three posted net losses.
- About 60% of trust companies saw year-on-year declines in operating revenue, total profit and net profit in the first half, underscoring significant business pressure and performance disparities among companies, according to a research report by China Credit Trust Co.
💡 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
