Daily Brief Thematic (Sector/Industry): Ohayo Japan | Winning Streak; IQPS Shooting for the Stars and more

In today’s briefing:

Ohayo Japan | Winning Streak; IQPS Shooting for the Stars

Overseas: SPX +0.4%, Nasdaq +0.4%; Six weeks of gains on strength in the job market
Today: NKY Futs +0.7% v cash. JPY145/$; Private Equity interest in Tsuruha; Rohm & Toshiba JV on SiC chips
JapanX: iQPS, a leader in small satellite SAR technology, recently debuted on the Tokyo Growth Market, securing funds to expand and provide vital real-time data for national security.

More clear y/y improvement for 8/12″ raw wafer, WiFi IC, GaAs RF/VCSEL, and memory vendors but more y/y deterioration for OLED/LCD driver, LCD panel, design service, equipment/materials, and foundry vendors.
GaAs RF and gaming GPU card vendors showed very impressive y/y sales growth of 54% and 63%, respectively. ABF substrate vendors showed the weakest sales decline of 34% among all.
Except A Data (+2.5% m/m) and Phison Electronics (+5.6% m/m) might see stronger share price to reflect stronger November sales, most of others see good/bad news in the price already.

Based on Fisher’s Law M*V=P*Q, the interest rate hikes in the US and management issues in China have led to continuous decline of V, thus forming the illusion of deflation.
The Fed’s rate hike is nearing its end. The huge amount of dollars need to be matched with corresponding assets. The only place with a matching assets pool is China.
If there’s a serious economic stagnation, recession, combined with hyperinflation, there may be a historic great depression. How China will respond is the key to determine the future global landscape.

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