In today’s briefing:
- Ohayo Japan|Strong ISM, Rate Fears Sinks Stocks; JAPAN X: Panasonic Tgts 3x PBR with EV Batteries
- US Banks – Small Banks’ CRE Loan Share Up Weekly, Now 66.1% | Mtg Loan App’s Index -5.7% In the Week
- China TMT Update-BYD/CATL/700HK/NTES-“Hunyuan” LLM Will Be Launched/”Eggy Party” Reached 100 Mn MAUs
- Mining Monthly: August Edition
Ohayo Japan|Strong ISM, Rate Fears Sinks Stocks; JAPAN X: Panasonic Tgts 3x PBR with EV Batteries
- OVERSEAS: Strong ISM, Higher Yields, Strong USD = Equity Sell off; Oaktree’s Marks sees rise in default from higher rates; Germany Industrial Orders fall; China bans iPhones in Govt offices
- JAPAN: NKY Futs -0.2% vs Cash; USDJPY 147.7; JP Govt official raises threat of FX intervention with weakening Yen; Inflation fears drive Gold purchases; Japan Defense Agency courting new Tech
- JAPAN X: Panasonic CEO Aims to Triple P/B Ratio, Focusing on EV Battery Growth. Other Japanese firms should take heed.
US Banks – Small Banks’ CRE Loan Share Up Weekly, Now 66.1% | Mtg Loan App’s Index -5.7% In the Week
- High frequency data shows small banks continue to take more CRE loan market share to week 23 August, now at 66.11%, rising 0.06% WoW (double avg WoW rise this year)
- Net-Charge off rates on CRE loans for the 100 largest US banks just doubled in the past week to 26bps, for other banks they are still low…for now
- Weekly mortgage loan applications index fell 5.7% in most recent weeks’ data to 25 August, a steep decline compared with an avg 0.3% WoW decline since 7 July
China TMT Update-BYD/CATL/700HK/NTES-“Hunyuan” LLM Will Be Launched/”Eggy Party” Reached 100 Mn MAUs
- BYD/CATL: Renewed effort of German carmakers in EV positive to Chinese battery makers
- 700HK: Tencent’s management said “Hunyuan” LLM will be launched within this month(+)
- NetEase’s “Eggy Party” announced that they reached over 100 mn MAUs and surpassing 100 mn UGC maps. (+)
Mining Monthly: August Edition
- The precious metals markets held flat in August, following the solid performance in July; mining equities fell modestly.
- Sentiment Update Commodity prices remained relatively flat through August, following a strong month in July.
- This could also contribute to an increase in investment flows into the mining and metals equities.
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