In today’s briefing:
- Ohayo Japan |AI Rally Fades; Debt Deal In Focus;SPX Flat/NUGGET:New JPX150 Prime Index-Has Potential
- China TMT Update May 31 – NTES/PDD/NIO/LI-PDD Officially Launches 6.18 Event (-)
- Thailand : The Election Sabuy Sabuy
- The Truth of China Medical Insurance Fund – Time to Clarify Misunderstandings with Investors
Ohayo Japan |AI Rally Fades; Debt Deal In Focus;SPX Flat/NUGGET:New JPX150 Prime Index-Has Potential
- OVERSEAS. SPX Flat after Memorial Day; AI/Tech still strong, but momentum fading; Debt Ceiling Vote on Tap – as Republication far right protests deal; Crude -4% on OPEC/USD Debt Uncertainty
- JAPAN. NKY Futs -0.6% Discount vs Cash; Yen weakness a concern-Officials vow to act; Toyota gives Up on Hino – Welcomes the Germans
- NUGGET. The New JPX150 Index-Interesting Concept. We are hopeful that it will incentivize the numerous low PBR companies to take proactive steps to join the “elite” group of value creators.
China TMT Update May 31 – NTES/PDD/NIO/LI-PDD Officially Launches 6.18 Event (-)
- NTES: NetEase testing a new magic academy simulation game in Japan (+)
- PDD: PDD officially launches 6.18 event, but there aren’t many surprises (-)
- NIO/LI: NIO announces pricing details of all-new ES6 (- / +)
Thailand : The Election Sabuy Sabuy
- Going into a third week after Thailand’s general election on May 14th, the Thai stock market softened and the bond yields rose on uncertainty over the government coalition.
- We believe the Move Forward Party (MFP)’s victory signifies a movement to reform, not just a political campaign.
- The muddle-through scenario could see Thailand without the new government until May 2024
The Truth of China Medical Insurance Fund – Time to Clarify Misunderstandings with Investors
- According to data, the accumulated balance of medical insurance fund has increased significantly. The core reason of China’s medical insurance fee control is to leave room for upcoming difficult period.
- The NHSA believes that even under fee control policy, pharmaceutical companies should still be able to achieve good performance. Perhaps companies should review their own problems more than blame policies.
- The pricing system in NRDL negotiation has its logical, and the total size of drug market in China reaches several trillion yuan, which is quite large.Why should we be pessimistic?
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