In today’s briefing:
- Ohayo Japan | Microsoft Falls Post Results
- Japan Morning Connection – 31 July 2024
- [Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/NTES US/TCOM US/ATAT US/3690 HK/700 HK
- Online Game Monitor: July 15-29, 2024
- # 37 India Insight: L&T Wins Contract, Airtel to Boost 5G, Adani Total Gas 20% Profit Rise
- [Blue Lotus Daily]:LKNCY US/1519 HK/ZTO US/981 HK/1810 HK/AAPL US/NVDA US/BEKE US
Ohayo Japan | Microsoft Falls Post Results
- The S&P 500 fell 0.5%, pressured by declines in megacap tech stocks as investors awaited key earnings reports
- Toyota retained its position as the world’s top automaker in the first half of 2024, selling 5.16 million vehicles globally
- Shimano revised its fiscal year 2024 net profit forecast up by 8% to 77 billion yen, driven by strong sales of high-priced bicycle parts in China
Japan Morning Connection – 31 July 2024
- Weak performance in the tech sector with dampened sentiment towards AI and semiconductor stocks. Microsoft’s stock price fell after market pulling other large caps lower
- US homebuilders were strong with Lennar +1.3%, Dr Horton +1%, after S&P CoreLogic home prices topped expectations in a good read for 1911 Sumi Forestry and 1928 Sekisui House
- TDK’s strong 1Q OP beat estimates, driven by HDD and energy products. MLCC sales fell, which may negatively impact Taiyo Yuden, while Murata missed estimates.
[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/NTES US/TCOM US/ATAT US/3690 HK/700 HK
- BABA US/PDD US/JD US: Alibaba overhauls Taobao/Tmall merchant fees (+/-/-)
- NTES US: NetEase’s <Naraka Mobile> Ranks 3rd on China iOS Grossing Chart on First Day, Performance In Line with Expectations (+)
- TCOM US/ATAT US: Hotel RevPAR Drops 9% YoY in July MTD (-/-）
Online Game Monitor: July 15-29, 2024
- Tencent’s game performance was mixed. <DnF Mobile> continued to perform well, with popularity increasing after the summer update. <Peacekeeper Elite> saw a natural decline due to the game’s lifespan.
- NetEase’s <Naraka Mobile> launched on July 25 and showed an impressive performance with a large influx of players. It is expected to be a blockbuster with billions in annual grossing
- Bilibili’s <FGO> surged to fifth place on the grossing chart after its anniversary event, demonstrating the strong spending enthusiasm and loyalties of players for this nearly decade-old game.
# 37 India Insight: L&T Wins Contract, Airtel to Boost 5G, Adani Total Gas 20% Profit Rise
- L&T wins contracts for key grid infrastructure in India, Saudi Arabia, UAE, advancing clean energy.
- Airtel re-farms mid-band spectrum to boost 5G speeds and coverage, launching SA technology soon.
- Adani Total Gas reports 20% profit rise, driven by higher CNG and PNG sales.
[Blue Lotus Daily]:LKNCY US/1519 HK/ZTO US/981 HK/1810 HK/AAPL US/NVDA US/BEKE US
- LKNCY US:Luckin Coffee’s Moutai Flavored Latte is Gradually Being Phased Out (-)
- 1519 HK/ZTO US: Weekly parcel volume grew ~33% y-o-y (+)
- 981 HK/1810 HK/AAPL US/NVDA US: SMIC’s upcoming N+3 process to narrow performance with TSMC’s 5nm (+/-/-/-)
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