In today’s briefing:
- Ohayo Japan |SPX +0.2%; Fed in Focus; NUGGET: Japan Global Semi Suppy Chain Dominance in Sight ?
- The Great Game – Betrayal from the Inside Threatens Opec Solidarity
- China/Asia TMT Update- Luckin/Unity/Coupang:No.10k Store, Apple Vision Pro, Congestion at Pyeongtaek
- Mining Monthly: May Edition
Ohayo Japan |SPX +0.2%; Fed in Focus; NUGGET: Japan Global Semi Suppy Chain Dominance in Sight ?
- OVERSEAS. SPX +0.2% as Investors Buy Financials; Semis regained some of its mojo as SOX rose 1.3%; Fed remains in Focus; Boeing glitches; All Telsa cars qualify for IRA benefits
- JAPAN. NKY Futs +0.4% vs Cash; Relentless bid in JP equities continues – yesterday ignoring US weakness on Monday; JP Govt tgts 3x rise in Domestic Semi Sales by 2030.
- NUGGET. Japan revamps its semi strategy – aggressive targets to get to ¥15 trillion in domestic sales by 2030, while being the key in the global semi supply chain.
The Great Game – Betrayal from the Inside Threatens Opec Solidarity
- Why – even after successive cuts – does crude oil keep settling on a $70 barrel?
- The conundrum has pitted the OPEC+ alliance against each other. Suspicious eyes are turning inwards, trying to sniff out the mole who is free-riding on the collective.
- Will the imposter be detrimental to Saudi’s production cut strategy?
China/Asia TMT Update- Luckin/Unity/Coupang:No.10k Store, Apple Vision Pro, Congestion at Pyeongtaek
- LKNCY: Luckin Coffee opened No.10k store, and extended discount coupon coverage (-)
- U US: Apple provides Unity with unique development privileges for Vision Pro (+)
- CPNG US: a congestion in the customs clearance process at Pyeongtaek Port due to a surge in packages from Chinese e-commerce platforms.(-)
Mining Monthly: May Edition
- The precious metals and base metals markets were down in the month of May, however, we view this as a healthy pull-back following two strong months in March and April.
- M&A remained elevated in the month following what appears to be the peaking of rates and inflation, and persistent elevated metals prices.
- Sentiment Update Following two very strong months in March and April (Gold, Silver, and the GDX were up 8.6%, 19.3%, and 18.9%, respectively), precious metals took a breath and were down slightly in the month of May.
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