In today’s briefing:
- Ohayo Japan|China’s Apple Ban Hits Equities; JAPAN X: Nintendo’s Switch 2 Prospects in 2024 ?
- China Property Developers In Distress – Weekly News & Announcements Tracker | 1-7 September 2023
- China Property: Latest View After Interim Result, Government Policy and the Stock Market Rebound
- [Blue Lotus Transportation Sector Update]: German Cars’ EV Push Belies Issue of Standardization
- China TMT Update-2460CH/2466CH/0792 CH/300750 CH/1211 HK/3931 HK/300274 CH/BABA/TSLA:Model 3/Alimama
- Mat-Chem Notes – For the Week Ended September 1, 2023
Ohayo Japan|China’s Apple Ban Hits Equities; JAPAN X: Nintendo’s Switch 2 Prospects in 2024 ?
- OVERSEAS: Chinese Ban on iPhone weighs on US Equity Sentiment; Tech, to no one’s surprise, hit hard, with Nasdaq100 -0.7% SOX -2%; Initial Jobless Claims drop – fuels inflation fears
- JAPAN: NKY Futs -0.9% vs Cash; USDJPY 147.3; Kishida to reschuffle Cabinet as early as next week; HA-2 Moon Rocket Successful Launch.; More rumors on Switch 2
- JAPAN X: Unveiling the Future: Nintendo’s Switch 2 Rumors ? or Reality ? Seems like Reality. Likely not a smart move to go bearish on Nintendo ! Watch this space.
China Property Developers In Distress – Weekly News & Announcements Tracker | 1-7 September 2023
- A weekly curated selection of Chinese news articles and company announcements focused on developers in distress
- We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
- We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to sources
China Property: Latest View After Interim Result, Government Policy and the Stock Market Rebound
- In this insight, we explored the latest interim results published by key Chinese developers, and reviewed government policies
- SOE developers outperformed, while private developers struggled. Latest policies, including adjustment of mortgage rate and down-payment ratios, are mainly demand side policies and will take time to implement
- The latest share price rebound is largely driven by speculation-driven Chinese investors. We think the rally is not sustainable unless we see immediate improvement of the distress situation of developers.
[Blue Lotus Transportation Sector Update]: German Cars’ EV Push Belies Issue of Standardization
- There has been renewed push for the German carmakers to enter the BEV market, at the expense of the PHEV market.
- We believe it will benefit Chinese battery makers and PHEV makers; We, however, prefer to look at the issue through the lens of industry standardization.
- Battery is the Intel and Advanced Driving Assistance System (ADAS) is the Windows of EV. Only China and US are in the ADAS ring.
China TMT Update-2460CH/2466CH/0792 CH/300750 CH/1211 HK/3931 HK/300274 CH/BABA/TSLA:Model 3/Alimama
- 2460 CH/2466 CH/0792 CH/300750 CH/1211 HK/3931 HK/300274 CH: Lithium carbonate future set new low, Lithium carbonate spot renewed weakness
- BABA: Alimama unveils new advertising platforms and discusses AI features (+)
- TSLA: Revamped Tesla Model 3 China preorder data update (-)
Mat-Chem Notes – For the Week Ended September 1, 2023
WTR-CMI year to date. As we enter the final month of the third quarter, our index of 30 chemicals and materials technology stocks has underperformed the S&P 500 and the Russell 2000 on both a YTD and Y/Y basis.
With most of the margin improvement benefit having played out over the course of 2022 and into 1Q23, stock performance of companies in our sector has been largely driven by market- and industry-specific dynamics and their effects on respective companies.
Thus, weaker pricing and customer inventory drawdowns affected the performance of FMC and AVD, which are both down more than 30% YTD.
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