In today’s briefing:
- SEBI’s Proposed New Asset Class: Bridging Mutual Funds and Portfolio Management Services
- Japan Morning Connection – 18 July, 2024
- Ohayo Japan | Dow Falls 500 Points
- # 31 India Insight: Tata Power Investment, Zee Fund Raise, India Defence Indigenous Components
- [Blue Lotus Daily-TMT Update]:700HK/JD US/PDD US/BABA US/NTES US/SE US/TCOM US/ATAT US/3690HK/BABAUS
- [Blue Lotus Daily]:BZ US/LI US/NIO US/XPEV US/1810 HK/1211 HK
SEBI’s Proposed New Asset Class: Bridging Mutual Funds and Portfolio Management Services
- SEBI proposes a new asset class to bridge the gap between mutual funds and portfolio management services, requiring a minimum investment of INR 10 lakh.
- The new class targets sophisticated investors, offering higher-risk products and strategies, while ensuring regulatory compliance to curb unauthorized investments.
- This initiative provides a regulated, higher-risk investment option for investors, encouraging innovation in AMCs’ investment strategies while enhancing market depth and investor protection.
Japan Morning Connection – 18 July, 2024
- DOW +0.59%, Russell -1.06%, SPX -1.39%, Nasdaq -2.77%, SOX -6.81% as investors shifted from growth to value stocks. UST10 was flat at 4.16%, and the yen strengthened to Y156.18.
- Commodities were mixed with copper -0.3%, nickel -0.83%, and Brent +1.72%. Energy and consumer staples rose, with VSF +13.6% after Essilor Luxottica agreed to buy Supreme. US homebuilders lost ground.
- Tech stocks fell sharply after ASML’s earnings missed estimates and news of potential US export restrictions to China. Focus on SPE names with high China exposure as shorts.
Ohayo Japan | Dow Falls 500 Points
- Tech stocks continued their decline on Thursday, with the Nasdaq Composite falling over 0.7% following its worst day since 2022
- Dalton Investments, a US activist fund, acquired a 5% stake in Ezaki Glico, becoming its fourth-largest shareholder.
- TSMC reports that AI chip constraints will persist until 2025, despite exploring new packaging technologies
# 31 India Insight: Tata Power Investment, Zee Fund Raise, India Defence Indigenous Components
- Tata Power’s INR 20,000-crore investment in renewables to boosts clean energy
- Zee Entertainment’s $239 million FCCBs plan: Raises funds to bolster financial position
- India to approve INR 70,000-crore warship order: Advanced warships with Indigenous components
[Blue Lotus Daily-TMT Update]:700HK/JD US/PDD US/BABA US/NTES US/SE US/TCOM US/ATAT US/3690HK/BABAUS
- 700 HK: Tencent’s <Civilization Mobile> Officially Launches, Ranks Second on iOS Download Chart.（+）
- JD US/PDD US/BABA US : JD to launch new monthly promo event “Super 18” (/)
- PDD US: PDD announces new requirements for some merchants (+)
[Blue Lotus Daily]:BZ US/LI US/NIO US/XPEV US/1810 HK/1211 HK
- BZ US: Age 16-24 unemployment rate declined for three consecutive months, mainly driven by the manufacturing sector.（+）
- LI US/NIO US/XPEV US/1810 HK/1211 HK: EV post holiday sales weak, LI and AITO strong but NIO and Xiaomi down.（/////////）
- 1810 HK: Xiaomi to launch new products on July 19th (/)
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