In today’s briefing:
- Ohayo Japan |RALLY PAUSE ?..Not; Debt Deal Spurs Tech Rebound; NUGGET: JP Off-Shore Wind-Set to BLOW
- Commodity Watch: Taking the Temperature on Commodities
- [Blue Lotus E-Commerce Sector Update]: Shein’s 3P Market Impacts Temu, Amazon, and Shopify
- China TMT Update Jun 1 – 700.HK/Douyin/3690.HK/TCOM/Li- Supercell’s New Game Receives Unenthusiastic
- China TMT Update June 2 – PDD/700.HK/LKNCY: Pinduoduo Starts “618 ” Campaign, Investing 5 Bn RMB
Ohayo Japan |RALLY PAUSE ?..Not; Debt Deal Spurs Tech Rebound; NUGGET: JP Off-Shore Wind-Set to BLOW
- OVERSEAS. SPX +1% as Cyclicals rose on Congress Debt Limit Deal; NFP in focus & implication for Fed June pause; Dollar General -20%..US consumer headwinds; Boeing scraps next-gen aircraft.
- JAPAN. NKY Futs +0.8% Cash; Stronger Yen but expect strong equity open on US rally; Foreigners bought Equities for 9th week; Panasonic sees EV battery Sales at 2.5tril by 2030
- NUGGET. The 2nd round of Off-shore wind auctions will conclude at the end of June. This will mark the (re) start of Japan’s aggressive push for wind.
Commodity Watch: Taking the Temperature on Commodities
- Watch out for the OPEC meeting this week as desperation can become the killer of solidarity
- Easing energy pressures lending a helping hand to the EM space
- Industrial metals is loudly screaming for more Chinese credit impulses
[Blue Lotus E-Commerce Sector Update]: Shein’s 3P Market Impacts Temu, Amazon, and Shopify
- Our recent interviews with Shein’s 3P merchants suggest that Shein’s newly launched 3P businesses, which include ODM and marketplace models, are specifically targeting Temu and Amazon, respectively;
- Currently, most merchants have expressed a positive attitude towards Shein’s 3P business due to the large traffic and reduced competition resulting from its high entry barriers;
- While we believe that PDD may face increased competition, we maintain a long-term BUY rating. Additionally, we anticipate that Shein’s 3P expansion will gradually affect Amazon and Shopify.
China TMT Update Jun 1 – 700.HK/Douyin/3690.HK/TCOM/Li- Supercell’s New Game Receives Unenthusiastic
- 700.HK: Supercell’s new game Floodrush receives unenthusiastic reception ( – )
- 3690.HK / TCOM: Douyin launches new hotel booking feature (-/-)
- LI: Li Auto’s daily order volume exceeds 1k for three consecutive weeks (+)
China TMT Update June 2 – PDD/700.HK/LKNCY: Pinduoduo Starts “618 ” Campaign, Investing 5 Bn RMB
- PDD: Pinduoduo starts its “618 Opening Red” campaign, investing 5 billion RMB and offering subsidies for 4 consecutive days
- Tencent: Streamers and players indicate that there have been a large number of AI-controlled bots appearing in the matches of the game “Honor of Kings”.
- LKNCY: COTTI Coffee opened its No.3000 stores, and Luckin Coffee is going to open its No.10k store.(/)
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