Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jul 11th. The aggregated net margin trading position is USD17,320m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Fast Retailing, Disco, Mitsubishi Heavy Industries, Sanrio, Lasertec, Kawasaki Heavy Industries, Ntt Data, Fujikura, Nintendo, Tokyo Electric Power Company.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jul 11th. The aggregated net margin trading position is USD17,320m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Fast Retailing, Disco, Mitsubishi Heavy Industries, Sanrio, Lasertec, Kawasaki Heavy Industries, Ntt Data, Fujikura, Nintendo, Tokyo Electric Power Company.


JPX Margin Trading Weekly (Jul 11th): Fast Retailing, Disco, Mitsubishi Heavy Industries, Sanrio

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jun 20th. The aggregated net margin trading position is USD17,331m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Advantest, Disco, Mitsubishi Heavy Industries, Lasertec, Skylark, Isuzu Motors, Softbank, Joyful Honda, Nippon Steel, Mitsubishi Ufj Financial.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jun 20th. The aggregated net margin trading position is USD17,331m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Advantest, Disco, Mitsubishi Heavy Industries, Lasertec, Skylark, Isuzu Motors, Softbank, Joyful Honda, Nippon Steel, Mitsubishi Ufj Financial.


JPX Margin Trading Weekly (Jun 20th): Advantest, Disco, Mitsubishi Heavy Industries, Lasertec

Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>With Japan’s policy rate at 0.5% and the last hike in January 2025, markets are closely watching the BoJ’s next move on June 17.</li>
<li>Historical data shows limited market impact from anticipated rate decisions—but rare surprises, like the July 2025 hike, have triggered outsized index reactions.</li>
<li>While historical data and current option pricing suggest the June BoJ decision is unlikely to move markets significantly, investors should be aware of low-probability tail risk when positioning.</li>
</ul>


With Japan’s policy rate at 0.5% and the last hike in January 2025, markets are closely watching the BoJ’s next move on June 17.
Historical data shows limited market impact from anticipated rate decisions—but rare surprises, like the July 2025 hike, have triggered outsized index reactions.
While historical data and current option pricing suggest the June BoJ decision is unlikely to move markets significantly, investors should be aware of low-probability tail risk when positioning.


Bank of Japan's June Policy Decision: A Non-Event for Markets?

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jun 6th. The aggregated net margin trading position is USD17,477m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Advantest, Sbi Sumishin Net Bank, Toyota Industries, Mitsubishi Ufj Financial, Softbank, Toyota Motor, Skylark, Keyence, Nippon Yusen Kabushiki Kaisha, Mitsubishi Heavy Industries.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jun 6th. The aggregated net margin trading position is USD17,477m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Advantest, Sbi Sumishin Net Bank, Toyota Industries, Mitsubishi Ufj Financial, Softbank, Toyota Motor, Skylark, Keyence, Nippon Yusen Kabushiki Kaisha, Mitsubishi Heavy Industries.


JPX Margin Trading Weekly (Jun 6th): Advantest, Sbi Sumishin Net Bank, Toyota Industries

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Late session rally for chips and semi-cap names with the US signalling a softening of export curbs.</li>
<li>ARM numbers after the bell sending stock -10% point to Softbank missing todays upside.</li>
<li>Is Japanese shipbuilding expertise the new bargaining chip against tariffs? </li>
</ul>


Late session rally for chips and semi-cap names with the US signalling a softening of export curbs.
ARM numbers after the bell sending stock -10% point to Softbank missing todays upside.
Is Japanese shipbuilding expertise the new bargaining chip against tariffs? 


Japan Morning Connection: Rescinding of US Chip Restrictions to Send JP Semi Plays Higher

Japan

KEYENCE CORPORATION develops, manufactures, and sells sensors and measuring instruments used for factory automation (FA) and high technology hobby products. The Company's products include fiber optic sensors, photoelectric sensors, programmable logic controllers (PLC), laser scan micrometers, bar code readers, and radio-controlled model cars.

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Keyence Corp (6861 JP)

JPX Margin Trading Weekly (Jul 11th): Fast Retailing, Disco, Mitsubishi Heavy Industries, Sanrio

We analyzed JPX margin trading positions report for the past week and highlighted Fast Retailing (9983 JP), Disco (6146 JP), Mitsubishi Heavy...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (Jun 20th): Advantest, Disco, Mitsubishi Heavy Industries, Lasertec

We analyzed JPX margin trading positions report for the past week and highlighted Advantest (6857 JP), Disco (6146 JP), Mitsubishi Heavy Industries...

Ke Yan, CFA, FRM

Bank of Japan's June Policy Decision: A Non-Event for Markets?

Stay ahead of potential tail risks: with the Bank of Japan's crucial rate decision just two days away, this analysis reveals why the June 17...

Gaudenz Schneider

JPX Margin Trading Weekly (Jun 6th): Advantest, Sbi Sumishin Net Bank, Toyota Industries

We analyzed JPX margin trading positions report for the past week and highlighted Advantest (6857 JP), Sbi Sumishin Net Bank (7163 JP), Toyota...

Ke Yan, CFA, FRM

Japan Morning Connection: Rescinding of US Chip Restrictions to Send JP Semi Plays Higher

Upside for chips and semi-cap as US eases export curbs, poor outlook for Softbank as ARM drops 10%, Japanese shipbuilding expertise may be used as...

Andrew Jackson

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52-week Range

Market Cap (USDm)

P/E

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