In today’s briefing:
- Japan Weekly | S&P 500 Continues Longest Stretch Without Significant Volatility Since GFC.
- EU’s Battery and Solar Investments, One Year After, Part II
Japan Weekly | S&P 500 Continues Longest Stretch Without Significant Volatility Since GFC.
- Despite mixed economic signals, markets showed resilience. The S&P 500 gained 0.6%, the DJIA added 1.5%, and the Nasdaq remained flat.
- The Japanese yen continued its decline against major currencies, falling below 159 per USD, nearing levels last seen in April before intervention by Japan’s Ministry of Finance
- Fancl’s (4921) stock surged 19% to ¥2,720 following Kirin Holdings’ announcement to acquire it as a wholly owned subsidiary
EU’s Battery and Solar Investments, One Year After, Part II
- Contrary to battery, Chinese renewable energy companies have largely been absent in EU’s solar capacity buildup.We believe the main reason is supply chain structure differences;
- One year after we tallied the capacity in C2Q23,11% of the tallied capacity have been cancelled, but another 66% more have been added, among which, however,no ingot or polysilicon projects;
- Wacker Chemie’s 39GW polysilicon project needs to supply ~10GW of ingot and wafer,~13GW of cell and ~52GW of module, comparing to EU’s 2023 installation of only 56GW, which is insufficient.
💡 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
