In today’s briefing:
- Ohayo Japan | TSMC’s Mixed Earnings Added to Market Jitters
- The Stocks to Own in Asia – Vol. 44
- The Stocks to Own in ASEAN – Vol. 46
- China Population Policies Impact on Healthcare Companies Series – Part 4
- What Do Multinational Pharma Companies Know that Equity Investors Don’t?
- Cloud Infrastructure Monitor – Upcoming Earnings Season Marks a Crucial Point for Sector and AI
Ohayo Japan | TSMC’s Mixed Earnings Added to Market Jitters
- US stocks closed mostly lower on Thursday, with the S&P 500 down 0.22% for its fifth consecutive session of losses
- After-Hours, Netflix revealed strong subscriber growth but slightly missed revenue guidance, causing its shares to dip over 2%
- Oracle plans to invest over $8 billion in Japan over the next decade to expand its data center infrastructure
The Stocks to Own in Asia – Vol. 44
- We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
- Portfolio changes: Five stock remains, nine stocks added to our portfolio
- Since its inception, it has generated a before-fee total return of 188% versus the MSCI Asia ex Japan of 68%
The Stocks to Own in ASEAN – Vol. 46
- We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
- Portfolio changes: Two stocks remain, 12 stocks added to our portfolio
- Since its inception, the portfolio has generated a before-fee total return of 227% versus MSCI ASEAN’s 26%
China Population Policies Impact on Healthcare Companies Series – Part 4
- Entering 2024, more provinces/regions have included assisted reproductive medical service projects into medical insurance reimbursement scope. It is expected that the government will accelerate the introduction of supporting measures ahead.
- Livzon’s performance in 2023 was disappointing.For BGI, even if the BIOSECURE Act passes and BGI is sanctioned by the US, the overall impact on the company is limited and controllable.
- Jinxin has gradually recovered from the negative impact of COVID-19.With the recovery of international flights and the increase in the number of patients, the Company would be back on track.
What Do Multinational Pharma Companies Know that Equity Investors Don’t?
- There has been a significant increase in out-licensing deals in China over the last four years; numbers are at an all-time high.
- There is a big deviation between actions of multinational drug companies and equity investors – over a similar period, the FTSE Pharma and Biotech index is down over 50%.
- We have witnessed an improved environment for aspiring local Chinese biotech and pharma companies.
Cloud Infrastructure Monitor – Upcoming Earnings Season Marks a Crucial Point for Sector and AI
- Setting up to be a crucial quarter for the major cloud infrastructure providers and broader tech as investors focus on the cost/benefits of AI.
- Over the last decade, AMZN, MSFT, and GOOGL have garnered outsized investor attention, in part due to their size, but equally due to each of their rapidly growing tech infrastructure businesses (AWS, Azure, and GCP, respectively).
- Based on the capex commentary from all three exiting the December quarter, investors are hoping for early signs of business AI traction, but also bracing for greater clarity around the costs.
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