Daily Brief Thematic (Sector/Industry): Ohayo Japan | Google’s Quantum Lea and more

• The S&P 500 and Nasdaq Composite also fell around 0.3%. Alphabet shares surged over 5% following breakthroughs in quantum computing
• Nippon Life Insurance announced plans to acquire Resolution Life Group Holdings for $8.2 billion
• Oasis Management have increased their stake in Kao to over 5%. Previously they have engaged with the company: “A Better Kao”

• The gaming industry is evolving with a focus on AI integration and innovative game loops.
• Mobile gaming is expected to lead the way in terms of success and adoption in the coming years.
• Ecosystems like Ronin and exchanges are playing a significant role in shaping the gaming landscape, with a focus on UGC and innovative token distribution mechanics.

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• JSW Steel Reports 5% YoY Production Growth Amid Financial Pressure.
• Vodafone Idea to Raise INR 1,980 Crore via Preferential Shares.
• Metropolis Healthcare to Acquire Core Diagnostics for INR 247 Crore

• UBER US/WRD US/BIDU US/9660 HK/XPEV US:Uber cooperates with WeRide in the United Arab Emirates. It previously cooperated with BYD for 100,000 EV’s. Is it using China to counter Tesla?.(/////////)
• NTES US: NetEase’s New Game <Marvel Rival> Reaches Over 10 Million Players Within 72 Hours of Launch (+)
• BABA US/PDD US: Taobao launches new treasure hunting mechanism for upcoming 12/12 sale to attract a younger cohort (+/-)

• 981 HK/1347 HK/NXPI US/TXN US/ADI US/ON US: China industry associations send warning over sourcing US chips (+/+/-/-/-/-)
• ACMR US: Limited impact from the addition of its subsidiaries to entity-list (/)
• ZTO US: Parcel volume delivery grew 32% yoy in the prior week (+)

• This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress
• We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
• We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to the sources