In today’s briefing:
- Japan Weekly | Trend Micro, Screen, Mazda, Itochu-Techno
- [Blue Lotus Daily]: BABA/JD/PDD/BILI/Tencent/700.HK/Kuaishou/1024.HK/DOYU/HUYA/ACMR
- Takeaways Post Our Global Foundry Model Updated and Initial View on 2024
- Shroom Shmooz – Psychedelics and the Hype Cycle – Where Does It Go in 2024 and Beyond?
Japan Weekly | Trend Micro, Screen, Mazda, Itochu-Techno
- Market Watch: Topix Index gained 0.6% WoW, influenced by Treasury yields and interest rate discussions, while individual stock movements were largely impacted by earnings reports
- Major Movers: Trend Micro surged 19.6% on strong Q3 results and a ¥140 billion total shareholder return plan. Screen and Mazda rose 15% and 13.5%, driven by positive profit outlooks
- Activist Watch: Oasis Management surprises with a 6.42% stake in Itochu Techno Solutions despite Itochu’s TOB completion & Share consolidation announcement. Oasis likely to contest valuation in Court.
[Blue Lotus Daily]: BABA/JD/PDD/BILI/Tencent/700.HK/Kuaishou/1024.HK/DOYU/HUYA/ACMR
- BABA/JD/PDD: Post Bureau publishes Parcel Volume Data for Double 11 Festival (-/+)
- BILI/700.HK/1024.HK/DOYU/HUYA: Douyu CEO Chen Shaojie missing for 3 Weeks (+/+/+/-/+)
- 4689JP/PDD: LY C3Q23 result beat consensus on LINE advertising (/)
Takeaways Post Our Global Foundry Model Updated and Initial View on 2024
- Takeaways post model updated: 1. most foundries miss 4Q23 but y/y decline to decelerate; 2. y/y sales passed the trough but utilization later; 3. wafer shipment down 18-20% in 2023;
- More takeaways: 4. different mix with different price; 5. some are defensive this year, some might have larger upside for 2024; 6. gross margin still falling and capex cut needed.
- Automotive/Industrial lags only not beginning of the fall: Smartphone, pc, consumer/IOT foundry orders might recover earlier than automotive/industrial for 2-3 quarters, resulting fablesses in these area to outperform.
Shroom Shmooz – Psychedelics and the Hype Cycle – Where Does It Go in 2024 and Beyond?
- Psychedelic stocks continue their bad trip despite the psychedelic renaissance.
- The headlines flowing out of the psychedelics sector over the past year indicate that the psychedelic renaissance appears to be gaining momentum.
- Clinical trials at various stages involving psychedelic substances, led by MDMA, psilocybin, ketamine, and DMT, have produced results showing clinical promise in a number of treatment- resistant mental health disorders.
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