In today’s briefing:
- Ohayo Japan: Instacart Soars on Debut; JapanX: Pana More than Just EVs
- China TMT Update-ZTO/002352.CH/BABA/ PDD/HK 700/NTES/3690.HK-Tencent New Game/Keeta/Parcel Volume
- China TMT Update-Nayuki/Luckin/981.HK/1347.HK/ACMR/LI-Food Safety Issue/Increase the Tax-Deductible
Ohayo Japan: Instacart Soars on Debut; JapanX: Pana More than Just EVs
- OVERSEAS: SPX -0.2% as Fed began its meeting – expectations are for Fed to hold steady. IPO market on fire as InstaCart closed up 12% on the day
- JAPAN: NKY Futures -0.5%, JPY 147.9; Kishida to encourage foreign asset managers to set up shop; Softbank to pocket $5bn from ARM IPO
- JAPAN X: Panasonic is more than just an EV play – the 2021 acquisition of Blue Yonder sets the company up to compete in supply chains and automation
China TMT Update-ZTO/002352.CH/BABA/ PDD/HK 700/NTES/3690.HK-Tencent New Game/Keeta/Parcel Volume
- ZTO/002352.CH/ BABA/ PDD: Parcel volume data suggests continued consumption rebound (+)
- HK 700/NTES: Tencent Announces New Game “Yuan Meng Zhi Xing” (+)/(-)
- 3690. HK : Keeta expands into Hong Kong Island (-)
China TMT Update-Nayuki/Luckin/981.HK/1347.HK/ACMR/LI-Food Safety Issue/Increase the Tax-Deductible
- Nayuki/Luckin: Food safety issue happened on one store of Mixue
- 981.HK/1347.HK/ACMR: Tax authorities increase the tax-deductible amount for R&D (+)
- LI: LI’s latest weekly sales were unaffected by Wenjie (+)
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