In today’s briefing:
- Ohayo Japan| US Back to an Equity Sell Off; NUGGET: Nintendo(7974) – Set to Track Disney’s Success ?
- Intel, Micron Expanding In Different Directions
- Japan Banks – TOPIX at July 1990 Levels, Banks’ Stock Holdings In Perspective
- Baba/JD/PDD/VIPS/Kuaishou: 618 Not as Bad as Investors Depicted, and Our Estimations of GMV Growth
- Shroom Shmooz : Why Getting a CPT Code Is a Big Deal for Psychedelic Therapies
- The Highlights : Cannabis News for the Week Ending May June 16, 2023
- Weekly Sustainable Investing Surveyor : Week Ended June 16, 2023
Ohayo Japan| US Back to an Equity Sell Off; NUGGET: Nintendo(7974) – Set to Track Disney’s Success ?
- OVERSEAS. SPX -0.5% with most Sector in the Red; Residential Construction STRONG; China Rate Cut disappoints; TESLA +5.3% bags Rivian for Charging Network.
- JAPAN. NKY Futs -0.9% vs Cash; Blackrock’s Fink say Japan benefitting from China Flight; Labor market loosing as JP workers shying away from liftime employment; Yamato HD exits mail delivery
- NUGGET. Nintendo(7974) – Doing a Disney..using its IP…Now Mario out, Rumour are “Legend of Zelda” Movie in the works..
Intel, Micron Expanding In Different Directions
- While Intel was allegedly actively discouraged from further AT investment in Chengdu, Micron has just announced a significant investment in Xi’An.
- Micron’s Xi’An investment announcement happened on the same day as Intel’s surprise Poland AT investment.
- Following the Poland announcement, Intel now gets the enhanced Magdeburg deal they held out for.
Japan Banks – TOPIX at July 1990 Levels, Banks’ Stock Holdings In Perspective
- The Japan stock market is at ~33 year highs with TOPIX now at July 1990 levels
- Japan’s banks can see greater gains on stocks as they divest sizable holdings
- Vast differences how stocks holdings compare with profit, equity, assets
Baba/JD/PDD/VIPS/Kuaishou: 618 Not as Bad as Investors Depicted, and Our Estimations of GMV Growth
- Based on our channel research, we maintain our previous estimation that the results of the 618 promotions are not as bad as some investors described
- We estimate that the GMV growth rates during the 618 period for Taobao+Tmall, JD, Pinduoduo, Vipshop, and Kuaishou are approximately 3%, 15%, 20%, 20% and 35%, respectively.
- However, it remains to be seen whether consumer spending will decline after the major promotion, possibly due to excessive consumption.
Shroom Shmooz : Why Getting a CPT Code Is a Big Deal for Psychedelic Therapies
- With MDMA-Assisted Therapy (MDMA-AT) for post-traumatic stress disorder (PTSD) highly anticipated to become the first Schedule 1 psychedelic-based therapy to be federally legalized in the US by 2Q24, once approved, affordability becomes the key condition for mainstreaming the use of the therapy.
- Progress toward a more robust payor coverage for and broader-based accessibility to psychedelic-assisted therapies (PATs) has taken a major step forward with the recent approval by the American Medical Association (AMA) for the assignment of the first-of-its kind Current Procedural Terminology (CPT) code, an insurance billing code for long-form PAT.
- PAT will be assigned a Category 3 CPT code, effective from the start of 2024, for which payor reimbursement is discretionary.
The Highlights : Cannabis News for the Week Ending May June 16, 2023
- A pause in interest rate hikes drove global equities higher.
- Last week, the MSCI World Index gained 2.64%, while the S&P 500 increased 2.22%.
- The S&P 500 earned its fifth consecutive positive week and is now 24.68% off its October 12, 2022, low.
Weekly Sustainable Investing Surveyor : Week Ended June 16, 2023
- During the week ended June 16, 2023, the WTR Sustainable Index outperformed the broader market, rising 5.9% W/W versus the S&P 500 Index (up 2.6%), the Russell 2000 Index (up 0.5%), and the Nasdaq Composite Index (up 3.2%).
- Advanced Transportation Solutions (74.4% of the index) drove the index’s performance, rising 7.0%, while Energy Technology (6.8% of the index) was up 5.3% and Industrial Climate and Ag Technology was up 2.0%.
- Valuation: Based on forward 12-month consensus estimates, the current P/E ratio of the WTR Sustainable index is 25.2x versus 20.5x for the S&P 500.
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