In today’s briefing:
- Last Week in Event SPACE: JD.com, Suzuki, Twitter, Toyo Construction, Uniti Group, Singapore Press
- Index Rebalance & ETF Flow Recap: MSCI, TOPIX, KT/SKT, GoTo, Yangzijiang, Emperador, SK Shieldus
- Asia-Pac Weekly Risk Arb Wrap: Excelpoint, Tri Stage, Toyo, Uniti, Western Areas, Suchuang Gas
- End of Nearly All Social Distancing Measures in Korea & How My Views of Mask Wearing Has Changed
- A-H Premium Weekly: Real Estate, Industrials, Utilities Led the Decline
Last Week in Event SPACE: JD.com, Suzuki, Twitter, Toyo Construction, Uniti Group, Singapore Press
- JD.com (9618 HK)‘s CCASS movements are a thing, and there are things going on in the background, but the things in the foreground are not as menacing as they appear.
- Suzuki Co Ltd (6785 JP)‘s NAV discount and implied stub plumb new lows. Again.
- Musk has made a non-binding proposal for Twitter Inc (TWTR US) at US$54.20/share. Get it? Get it? Nudge nudge wink wink. That’s all part of the fun for him.
Index Rebalance & ETF Flow Recap: MSCI, TOPIX, KT/SKT, GoTo, Yangzijiang, Emperador, SK Shieldus
- The review period for the MSCI May SAIR starts on Monday, 18 April and will run for 10 trading days, though MSCI usually selects one of the first five days.
- GoTo (GOTO IJ) listed during the last week and could be a Fast Entry to the IDX indices. The Yangzijiang Shipbuilding (YZJSGD SP) spinoff has index implications.
- Relatively large inflows into China focused ETFs during the week, while there were outflows from Korea focused ETFs.
Asia-Pac Weekly Risk Arb Wrap: Excelpoint, Tri Stage, Toyo, Uniti, Western Areas, Suchuang Gas
- There are 35 – mostly firm – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- Two new deals this week: WT Microelectronics (3036 TT)‘s tilt for Excelpoint Technology (EXLP SP); Bain’s MBO for Tri Stage Inc (2178 JP).
- Key updates took place for: Toyo Construction (1890 JP), Uniti Group Ltd (UWL AU), Western Areas (WSA AU), and Suchuang Gas Corp (1430 HK).
End of Nearly All Social Distancing Measures in Korea & How My Views of Mask Wearing Has Changed
- Starting Monday, 18 April, South Korea will lift almost all social distancing measures after nearly two years.
- Under the new measures, the previous restrictions including midnight business hour curfew for restaurants, cafes, and other businesses will be completely lifted.
- The pandemic to endemic reopening plays in Korea (19 stocks) are up on average 7% YTD, significantly outperforming KOSPI which is down 9.5% in the same period.
A-H Premium Weekly: Real Estate, Industrials, Utilities Led the Decline
- We analyse the changes of A/H premium on 138 stocks over the last week.
- Real Estate, Industrials, Utilities Led the week on week A-H premium decline of 2.7ppt.
- We highlight stocks including Shanghai Junshi, CIMC Vehicles, and CRCC Corp.
Before it’s here, it’s on Smartkarma
