In today’s briefing:
- Ohayo Japan|Equities Cruise on No Recession Narrative; NUGGET: JAL(9201) A Double Winner
- [Blue Lotus EV Sector Update]: All Solid-State Battery Unlikely to Disrupt EV Market
- China TMT Update-LI AUTO/Akeso/BEKE-Delay Chongqing Plant/Trial of Cadonilimab BsAb/New Home Sales
- US PPI: Tailwinds from Transportation Price Collapse Set to Subside in H2 2023
- The Highlights – Cannabis News for the Week Ending July 14, 2023
- WRKR Limited – Super Opportunities Ahead
Ohayo Japan|Equities Cruise on No Recession Narrative; NUGGET: JAL(9201) A Double Winner
- OVERSEAS. SPX hit 52W highs as Yellen sees no US Recession; Rates fall on “inflation behind us” narrative; Global HF unwind bearish US positions; EV WARS as Ford Slashes prices.
- JAPAN. NKY Futures -0.2% vs Cash; USDJPY 138.7%; Japan Back after Marine Day Holidays to lower US rates, stronger yen, Weaker China, and Tech bid; Blackrock lifts Japan stock outlook
- NUGGET. JAL(9201) Double Winner(Margins+Emmissions) with Fleet Upgrade. Share price has run, but strong tailwinds on demand and operational efficiency. Watch for pullback to pick up.
[Blue Lotus EV Sector Update]: All Solid-State Battery Unlikely to Disrupt EV Market
- In early July, Toyota announced a breakthrough in all-solid-state-battery (ASSB) delivering 745 miles per charge and <10-minute charging time.
- Currently lithium-ion battery (LIB) can reach 500 miles and 25 minutes; We, however, believe the migration of LIB to ASSB will be a continuous process.
- ASSB is expensive to manufacture. Further, mineral reliance on China is unlikely to lessen.
China TMT Update-LI AUTO/Akeso/BEKE-Delay Chongqing Plant/Trial of Cadonilimab BsAb/New Home Sales
- LI: Li Auto said to postpone the construction of Chongqing plant (-)
- Akeso started Phase III head-to-head trial of its Cadonilimab BsAb against BeiGene’s Tislelizumab mAb for first line treatment of NSCLC（/）
- KE Holdings: New home sales remain weak in June, and existing home price trended down for two months, expecting more supportive policy on demand side of property market.
US PPI: Tailwinds from Transportation Price Collapse Set to Subside in H2 2023
- US PPI has steadily eased over the past 15 months, and lower transportation costs have helped
- US long-distance trucking and international air freight costs have fallen dramatically from the peak, but ocean freight has surprisingly remained close to peak levels
- We believe falling transportation costs are unlikely to provide “tailwinds” for much longer
The Highlights – Cannabis News for the Week Ending July 14, 2023
Global equities rallied this week on softer CPI and PPI reports.
One year ago, CPI was 9.1%, compared to last week’s 3.0%, showing the Fed’s action has slowed inflation.
This puts less pressure on the Fed to continue raising rates.
WRKR Limited – Super Opportunities Ahead
- Wrkr Ltd (ASX:WRK) offers compliance solutions for Australian superannuation contributions and payroll including member onboarding, clearing, messaging and employee validation.
- WRK’s product solutions need to address and comply with a range of government regulations that continue to evolve, with examples being Single Touch Payroll 2.0, Your Future Your Super, Pay Day Super, Rollovers 3.0, and the Security of Critical Infrastructure.
- Such regulations provide somewhat of a moat for competitors looking to enter the space and strong customer retention once secured.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
