In today’s briefing:
- Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive’s Aerial Ambitions
- China A-Shares: Construction Materials Slump
- China TMT Update-Luckin/CATL/LI/700.HK:HoK Crisis;Coffee Price War Continue; Shenxing Battery
- Cannabis – Cannabis News for the Week Ending August 18, 2023
- Consumer Hardlines: Mattress Imports
- Weekly Sustainable Investing Surveyor – Week Ended August 18, 2023
Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive’s Aerial Ambitions
- OVERSEAS. US Yields spike to hit 16 year high; Stocks rise SPX closed +0.7% with Tech leading; China woes continue as forecasts cut; NVDIA and TSLA rebound on street optimism
- JAPAN. NKY Futures +0.7% vs Cash; USDJPY 146.2; BOJ on pace to buy record amt of bonds under new YCC regime; Foreigners unloading JGBs; Japan DX market > 2trn yen
- Japan X. Flying Cars – investments pouring into the space globally. Skydrive, Japan’s Flying Car beacon bearer, partners with Suzuki to to push the boundries in the space.
China A-Shares: Construction Materials Slump
- Concerns over Chinese Real Estate sector pushes ownership in Construction Materials stocks to their lowest levels on record.
- Fund activity heavily skewed to the sell-side and driven by mass closures in Anhui Conch Cement, Huaxin Cement and Beijing New Building Materials.
- Investor sentiment, as measured by A-Share fund activity and positioning, is as low as it gets for the Construction Materials sector.
China TMT Update-Luckin/CATL/LI/700.HK:HoK Crisis;Coffee Price War Continue; Shenxing Battery
- Luckin Coffee: Price war continue and competition in low tier cities expansion intensified
- CATL/ LI: CATL unveils Shenxing Battery ( + / +)
- 700.HK: Honor of Kings Faces Reputation Crisis Recently( – )
Cannabis – Cannabis News for the Week Ending August 18, 2023
- Revenue of $129.2 million was +3.8% Q/Q, -0.3% Y/Y, and above consensus of $125.0 million.
- Adjusted gross margins of 40.4% improved 2.1% Q/Q, declined 2.20% Y/Y, and exceeded estimates of 39.0%.
- Expanding East Coast markets drove revenue growth and higher quarterly margins, and were partially offset by price compression in Florida, Illinois, and Massachusetts.
Consumer Hardlines: Mattress Imports
Under Statistics, we update data for June 2023 versus June 2022 (Y/Y comp) and May 2023 (M/M comp).
Each table’s lower half provides similar data for the 12 countries targeted by the new AD petition.
In June, total imported units fell ~9% Y/Y but rose ~11% M/M.
Weekly Sustainable Investing Surveyor – Week Ended August 18, 2023
- The WTR Sustainable Index underperformed the broader market, falling 4.8% W/W versus the S&P 500 Index (down 2.1%), the Russell 2000 Index (down 3.4%), and the Nasdaq Index (down 2.2%).
- Energy Technology (14.7% of the index) contributed to the index’s underperformance, falling 7.3%, while Industrial Climate and Ag Technology (46.6% of the index) was down 2.1%, ClimateTech Mining was down 7.8%, and Advanced Transportation Solutions was down 6.8%.
- Top 10 Performers: LYTS, EOSE, PE, RIDE, PGTK, BWEN, ORGN, SOLO, TGEN, ADSE
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