In today’s briefing:
- Ohayo Japan|Moodies Downgrade Spooks US Markets; NUGGET: China – More Worries For China Exposed?
- China/Asian TMT Update-9950HK/BGNE/9926HK/BGNE/9995HK/ZLAB/1801HK/1877HK/BABA/SE-Special Audit
- China TMT Update-Luckin /CPNG/BABA/3690.HK/Douyin-Store Transfer/Korea Cross-Border Ecommerce
- China TMT Update-LI/BABA/JD/3690hk/TCOM-L9 Pro Trim/Cainiao Half Day Delivery/Meituan and Amadeus
Ohayo Japan|Moodies Downgrade Spooks US Markets; NUGGET: China – More Worries For China Exposed?
- OVERSEAS. Moodies Downgrade of US banks drive Equity Sell off on concerns around the financial system, economy; Weak China Trade Data; NVIDIA introduces new AI chips – extending its lead
- JAPAN. Nikkei Futures -0.3% vs Cash; USDJPY 143.4; Japan Current A/C surplus rises +ve; But Real Wages fall – not great for BOJ exit; Earnings: Beats from Asics, Shiseido.
- NUGGET. China – are things worse than the data suggests ? Indications are that we are not out of the woods yet with China, and not at a turning point.
China/Asian TMT Update-9950HK/BGNE/9926HK/BGNE/9995HK/ZLAB/1801HK/1877HK/BABA/SE-Special Audit
- 9950HK/BGNE: BioNTech signed another ADC from Durality, negative to RemeGen and BeiGene（-）
- 9926HK/BGNE/9995HK/ZLAB/1801HK/1877HK: National Audit Office’s special audit on auditing Guangdong’s pharmaceutical consumables showed breadth and depth of the current anti-corruption probe（+/+/-/-/-/-）
- BABA/SE:TikTok is in early talks with regulators to obtain a payments license in Indonesia.(-)
China TMT Update-Luckin /CPNG/BABA/3690.HK/Douyin-Store Transfer/Korea Cross-Border Ecommerce
- Luckin Coffee: Luckin Coffee “store transfer” program achieved preliminary result
- CPNG/BABA: Statistics Korea published 2Q23 cross-border ecommerce data (- /+)
- 3690.HK: Douyin taking measures to boost local services business (-)
China TMT Update-LI/BABA/JD/3690hk/TCOM-L9 Pro Trim/Cainiao Half Day Delivery/Meituan and Amadeus
- LI: Li Auto adds L9 Pro trim to L9 series (+)
- BABA/JD：Cainiao started half day delivery in 8 cities（+ / -）
- 3690HK/TCOM: Meituan established a strategic partnership with Amadeus to expand the outbound travel market（+/-）
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