In today’s briefing:
- Ohayo Japan|SPX Up Again…On Peak Rates?; NUGGET: Tokyo Steel(5423) – Green Demand Steel a Reality!
- China TMT Update-BABA/BGNE/9926HK/9995HK/1801HK/1877HK/LGNE/ZLAB/BEKE-Baba’s Annual Report/NHSA Rule
- [Blue Lotus Heathcare Sector Update]: Domestic Substitution Takes Nascent Root in Med-Bots
- The Highlights – Cannabis News for the Week Ending July 21, 2023
Ohayo Japan|SPX Up Again…On Peak Rates?; NUGGET: Tokyo Steel(5423) – Green Demand Steel a Reality!
- OVERSEAS. S&P500 Up again, closing +0.4% ahead of Fed and a slew of earnings; Energy, Fincl lead on higher crude px, Higher UST ylds; Hopes fade for big China stimulus
- JAPAN. NKY Fut +0.1% vs Cash; USDJPY 141.4; Hunt for real yields as JP retail bets on high ylding currencies; BOJ may lift inflation view; TSE ramps up pressure
- NUGGET. Tokyo Steel (5423) – First Japan Beneficiary of the Shift to Low Carbon Steel.
China TMT Update-BABA/BGNE/9926HK/9995HK/1801HK/1877HK/LGNE/ZLAB/BEKE-Baba’s Annual Report/NHSA Rule
- Baba: Alibaba’s annual report, Chinese media discussions and our thoughts
- BGNE/9926HK/9995HK/1801HK/1877HK/LGNE/ZLAB: NHSA issued new rule to protect drug pricing (-)
- BEKE: China reinforce the city village reconstruction policy, which is different with Shantytown Renovation project（+)
[Blue Lotus Heathcare Sector Update]: Domestic Substitution Takes Nascent Root in Med-Bots
- We compiled the public sector bidding result of medical robots in the past one and half years.
- Result shows market leaders reinforcing their shares in laparoscopic and orthopaedic robots but in neurosurgery a new challenger has risen
- We reiterate the view domestic substitution will likely occur in areas like puncture, natural orifice and microsurgery, which will require new core competencies in machine vision, haptic feedback and AR/VR.
The Highlights – Cannabis News for the Week Ending July 21, 2023
Global equities again inched higher this week with the S&P 500 +0.65% and the MSCI World Index +0.60%.
The S&P 500 is now within 6% of an all-time high as investors become increasingly confident that inflation has cooled while corporate earnings remain strong.
The Russell 2000 climbed 1.53% last week but remains 18% below its 2021 peak.
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