In today’s briefing:
- Ohayo Japan | Nikkei Poised to Open Lower
- Japan Morning Connection: Expect Volatility with Retail and SPE Stocks Under Pressure
- [Blue Lotus Daily-TMT Update]:NTESUS/BABAUS/700HK/PDDUS/JDUS/VIPSUS/1810HK/SHEIN/WMTUS/4385JP/EBAYUS
- # 54 India Insight: TCS Partnered with Google, Vedanta Bond Issuance, Mankind Raise Debt
- [Blue Lotus Daily]:1519 HK/ZTO US/ATAT US/TCOM US/9926 HK/Macro Update
Ohayo Japan | Nikkei Poised to Open Lower
- U.S. stocks tumbled on Tuesday as September trading began, with major indexes posting their worst declines since August 5
- UNIQLO’s August domestic same-store sales increased 25.3% year-on-year, the highest growth since February 2023
- Bain Capital has made a 600 billion yen counteroffer to acquire Japanese firm Fuji Soft, outbidding KKR’s earlier 560 billion yen offer
Japan Morning Connection: Expect Volatility with Retail and SPE Stocks Under Pressure
- Echoes of August with Japan looking to start the day very weak on the lead from US semi related.
- Expect heavy selling for recent retail margin favourites e.g. Mercari, IHI, KHI and Socionext, and SPE winners such as Kokusai and Advantest, although the sector will start under heavy pressure.
- Nothing from Nikkei Inc. yet on their NKY225 rebalance decision, but expect outsized volatility today with many multi-strategy pods shuttered during the August sell off.
[Blue Lotus Daily-TMT Update]:NTESUS/BABAUS/700HK/PDDUS/JDUS/VIPSUS/1810HK/SHEIN/WMTUS/4385JP/EBAYUS
- NTES US/BABA US: NPPA Released August Domestic Game Code Approvals.(+/+)
- 700 HK: 700 HK: <Honor of Kings> July Grossing Up 26% MoM. (+)
- BABA US: Alibaba backed AI-startup launches video and music generation model (+)
# 54 India Insight: TCS Partnered with Google, Vedanta Bond Issuance, Mankind Raise Debt
- ICICI Bank and Zee Entertainment Stocks in Focus Amid SEBI Chief Allegations
- Mankind Pharma to Raise INR 9,000 Crore Debt for Bharat Serums and Vaccines Acquisition
- Vedanta Resources Plans $1.5 Billion Bond Issuance to Refinance Debt
[Blue Lotus Daily]:1519 HK/ZTO US/ATAT US/TCOM US/9926 HK/Macro Update
- 1519 HK/ZTO US: Weekly parcel volume grew ~28% y-o-y (+)
- ATAT US/TCOM US: Hotel industry showcased strong performance in the last week of August due to eased base effect.(+/+)
- Macro Update: The mortgage interest rate for existing loans may be further reduced, releasing at least RMB200 billion of residents’ funds annually, bodes well for consumption in China(+)
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