In today’s briefing:
- Ohayo Japan | Tesla Shareholders Say ‘Yes’ to Mega-Comp Package!
- Global Semi Sales YTD 2024 & Outlook: The Good & The Not So Good
- How to Stimulate China’s Consumption, Part II
- #14 India Insight: Ambuja Acquiring Penna, Vodafone Idea & Purvankara Fundraise, L&T, GST
- #18Business Buzz: JPMorgan’s $500M Biotech Fund, China’s Car Sales, Tesla’s Pay Package Approval
- [Blue Lotus Daily]:1211 HK/300750 SZ/BEKE US/LKNCY US
- [Blue Lotus Daily – TMT Update]:BABA /9699HK/DADA/JD/PDD/ZTO/1519 HK/3690 HK/NTES/TCOM/ATAT
Ohayo Japan | Tesla Shareholders Say ‘Yes’ to Mega-Comp Package!
- Adobe shares surged 16% in after-hours trading following better-than-expected Q2 results.
- Tesla shareholders ratified CEO Elon Musk’s contentious 2018 pay plan at the annual meeting in Austin
- Kirin Holdings plans to acquire the remaining 67% of Fancl, aiming to fully own the skincare and supplement company amid declining beer sales.
Global Semi Sales YTD 2024 & Outlook: The Good & The Not So Good
- Global semi sales for April ’24 were $46.4 billion, +15.8% YoY & +1.1% MoM
- WSTS now forecasts a 16.1% increase in 2024 semi sales, up from 13.1% in their previous forecast
- We think the WSTS forecast for Memory is too high & their forecast for Logic is too low. Excluding memory, the WSTS forecast reflects just 3.1% growth in 2024.
How to Stimulate China’s Consumption, Part II
- Aging population, coupled with under-development of retirement pensions, is the major headwind against enhancing consumption;
- The headroom of urbanization as a driver for enhanced consumption is not as big as depicted;
- Residential housing has, over the years, become the social safety net for the Chinese. Therefore, the bust of the property market takes many years, if not decades, to heal.
#14 India Insight: Ambuja Acquiring Penna, Vodafone Idea & Purvankara Fundraise, L&T, GST
- Ambuja Cements (ACEM IN) to Acquire Penna Cement for Rs. 10,422 Crore
- Puravankara Projects (PURVA IN) raising 1000 Cr via QIP and Vodafone Idea (IDEA IN) approved 2458 Cr Preferential allotment
- Upcoming 53rd GST Council Meeting to Address Key Taxation Issues
#18Business Buzz: JPMorgan’s $500M Biotech Fund, China’s Car Sales, Tesla’s Pay Package Approval
- JPMorgan’s new fund focuses on obesity treatments, especially popular yet scarce GLP-1 drugs
- Chinese automakers sold more cars than US brands, marking a significant market shift
- Tesla shares rise as Musk anticipates shareholder approval of his controversial $56 billion pay package
[Blue Lotus Daily]:1211 HK/300750 SZ/BEKE US/LKNCY US
- 1211 HK/300750 SZ: Geely and SK Group sign cooperation agreement to deepen cooperation in batteries and components.(-/-)
- BEKE US: PBoC urge local governments and banks to implement the affordable housing re-lending program.(+)
- LKNCY US: Luckin expands its non-coffee drinks, selling 5.08 million cups of lemonade in a week(/)
[Blue Lotus Daily – TMT Update]:BABA /9699HK/DADA/JD/PDD/ZTO/1519 HK/3690 HK/NTES/TCOM/ATAT
- BABA US/9699 HK/DADA US /JD US /PDD US /ZTO US /1519 HK/3690 HK:Taobao/Tmall to open one-hour delivery option to merchants on its platform (+/+/+/-/-/-/-/-)
- NTES US: NetEase showcased their latest tactical shooter game, <FragPunk>, which is expected to launch in 2025.(+)
- TCOM US/ATAT US : Travel consumption remained moderate during the Dragon Boat Festival.(-/-)
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