Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>QD Laser (6613 JP) was +7.15% yesterday but may continue to get a lift with US optical/phonetic related names outperforming.</li>
<li>A dour tone for Fujitsu Ltd (6702 JP) and NEC Corp (6701 JP) etc, especially with a switch to a more risk-on footing in the wings.</li>
<li>Oil and gas infra names did better overnight, so may get a follow through for Chiyoda Corp (6366 JP) and Jgc Corp (1963 JP).</li>
</ul>


QD Laser (6613 JP) was +7.15% yesterday but may continue to get a lift with US optical/phonetic related names outperforming.
A dour tone for Fujitsu Ltd (6702 JP) and NEC Corp (6701 JP) etc, especially with a switch to a more risk-on footing in the wings.
Oil and gas infra names did better overnight, so may get a follow through for Chiyoda Corp (6366 JP) and Jgc Corp (1963 JP).


Japan Morning Connection: Fading Oil Sets a Positive Tone for Risk-On Tech, Airlines and Shippers

<ul>
<li>Airliners have started to find a bottom so we may see a bit of a bid for Japan Airlines and Ana Holdings.</li>
<li>Memory names surge with Sandisk now +28% off its Iran war lows; HDD supply chain names may soon catch a bid.</li>
<li>Wafer names stirring with Soitec +41% last week and Sumco looking attractive as a buy the dip.</li>
</ul>


Airliners have started to find a bottom so we may see a bit of a bid for Japan Airlines and Ana Holdings.
Memory names surge with Sandisk now +28% off its Iran war lows; HDD supply chain names may soon catch a bid.
Wafer names stirring with Soitec +41% last week and Sumco looking attractive as a buy the dip.


Japan Morning Connection: Will HDD Supply Chain Laggards Minebea and Hoya Soon Catch a Bid?

<ul>
<li>NVDA was good - but not good enough to shake off worries the longer-term growth trajectory is unsustainable, regardless of what's projected this year.</li>
<li>Expect names with smartphone exposure and particularly MLCC suppliers who have rallied sharply as the latest AI plays to pullback into month-end.</li>
<li>Dell +12% in AH as its earnings silence critics concerned it would struggle to contain rising memory costs.</li>
</ul>


NVDA was good - but not good enough to shake off worries the longer-term growth trajectory is unsustainable, regardless of what's projected this year.
Expect names with smartphone exposure and particularly MLCC suppliers who have rallied sharply as the latest AI plays to pullback into month-end.
Dell +12% in AH as its earnings silence critics concerned it would struggle to contain rising memory costs.


Japan Morning Connection: IDC Drops a Bombshell Expecting Smartphone Mkt to Contract 12.9% This Year

<ul>
<li>Software down again in US trading, but Cadence numbers beat AH sending stock and EDA peers higher.</li>
<li>Apple sending a warning shot to Nikon investor EssilorLuxottica with its plans to develop Apple AI glasses, sending its -7% in late trading.</li>
<li>Demand for MLCC's is surging according to Murata's CEO who is hiking prices as enquiries outpace prod capacity 2:1.</li>
</ul>


Software down again in US trading, but Cadence numbers beat AH sending stock and EDA peers higher.
Apple sending a warning shot to Nikon investor EssilorLuxottica with its plans to develop Apple AI glasses, sending its -7% in late trading.
Demand for MLCC's is surging according to Murata's CEO who is hiking prices as enquiries outpace prod capacity 2:1.


Japan Morning Connection: Trump Touts Infra Investment a Win for ‘Coercion Through Tariffs’ Approach

<ul>
<li>Amazon down -11% AH after its capex guidance seen as unjustified in light of earnings.</li>
<li>ARM makes a surprise turn around on DC upside...watch Softbank.</li>
<li>Estee lauder -19% with numbers not good enough to justify rally. -ve Kose and Shiseido.</li>
</ul>


Amazon down -11% AH after its capex guidance seen as unjustified in light of earnings.
ARM makes a surprise turn around on DC upside...watch Softbank.
Estee lauder -19% with numbers not good enough to justify rally. -ve Kose and Shiseido.


Japan Morning Connection: Risk-Off Mood Continues, but Semi-Caps Pick up After Google Capex Surprise

Japan

TDK CORPORATION manufactures electronics components such as magnetic tapes and ferrite cores.  The Company also sells power supplies, inductors, transformers, ceramic capacitors, magnets, LAN (Local Area Network) components, sensors, and semiconductors.  TDK markets its products worldwide.

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TDK Corp (6762 JP)

Japan Morning Connection: Fading Oil Sets a Positive Tone for Risk-On Tech, Airlines and Shippers

Oil fading at the open sets a positive tone for risk on tech, airlines and shippers, while optical names continue to surge on data center order...

Andrew Jackson

Japan Morning Connection: Will HDD Supply Chain Laggards Minebea and Hoya Soon Catch a Bid?

Memory leads the way as markets stay resilient, with wafer names stirring and airlines may finally catch a bid after weeks of pressure.

Andrew Jackson

Japan Morning Connection: IDC Drops a Bombshell Expecting Smartphone Mkt to Contract 12.9% This Year

The unprecedented memory chip shortage will force manufacturers to focus on higher end more profitable phone models. Questions raised about if NVDA...

Andrew Jackson

Japan Morning Connection: Trump Touts Infra Investment a Win for ‘Coercion Through Tariffs’ Approach

Trump is touting the $550bn worth of Japanese investment that’s set to be deployed as a win for his ‘coercion through tariffs’ approach, with...

Andrew Jackson

Japan Morning Connection: Risk-Off Mood Continues, but Semi-Caps Pick up After Google Capex Surprise

The market has been quick to punish lavish spending on AI. Qualcomm's statement about the shortage of memory chips will be negative for names...

Andrew Jackson

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