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 18th. The aggregated net margin trading position is USD17,250m.</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 Lasertec, Fujikura, Advantest, Sanrio, Ihi, Fast Retailing, Softbank, Seven &amp; I, Mitsubishi Ufj Financial, Mitsubishi Heavy Industries.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jul 18th. The aggregated net margin trading position is USD17,250m.
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 Lasertec, Fujikura, Advantest, Sanrio, Ihi, Fast Retailing, Softbank, Seven &amp; I, Mitsubishi Ufj Financial, Mitsubishi Heavy Industries.


JPX Margin Trading Weekly (Jul 18th): Lasertec, Fujikura, Advantest, Sanrio, Ihi, Fast Retailing

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Road King Infrastructure, Continuum Green, Softbank Group</li>
<li>UST yields declined for a second straight day yesterday. There were no major macro catalysts, albeit the move was in line with gains across most European government bonds.</li>
<li>The UST curve bull flattened, with the yield on the 2Y UST falling 1 bp to 3.86%, while that on the 10Y UST was down 4 bps at 4.38%. Equities climbed to fresh record highs, with the S&amp;P 500 advancing 0.1% to 6,306 and the Nasdaq up 0.4% at 20,974.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Road King Infrastructure, Continuum Green, Softbank Group
UST yields declined for a second straight day yesterday. There were no major macro catalysts, albeit the move was in line with gains across most European government bonds.
The UST curve bull flattened, with the yield on the 2Y UST falling 1 bp to 3.86%, while that on the 10Y UST was down 4 bps at 4.38%. Equities climbed to fresh record highs, with the S&amp;P 500 advancing 0.1% to 6,306 and the Nasdaq up 0.4% at 20,974.


Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>LDP was trounced on Sunday, but the yen is already starting to pare weakness which priced in ahead.</li>
<li>Power semi's may be under pressure with NXP miss after-market and Stellantis surprise loss yesterday.</li>
<li>Microsoft reeling from massive cyber attack positive for security software including Trend Micro.</li>
</ul>


LDP was trounced on Sunday, but the yen is already starting to pare weakness which priced in ahead.
Power semi's may be under pressure with NXP miss after-market and Stellantis surprise loss yesterday.
Microsoft reeling from massive cyber attack positive for security software including Trend Micro.


Japan Morning Connection: Ishiba's Expected Defeat Already Showing Limited Reaction from Markets

<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

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ntt-dc-reit" target="_blank" data-smartkarma-citation="entities:45414:1" rel="noopener">NTT DC REIT (NTTDCR SP)</a>, a data center REIT, raised around US$772m in its Singapore IPO.</li>
<li>The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn</li>
<li>We have looked at the past performance in our earlier notes. In this note, we will talk about the trading dynamics.</li>
</ul>



NTT DC REIT (NTTDCR SP), a data center REIT, raised around US$772m in its Singapore IPO.
The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn
We have looked at the past performance in our earlier notes. In this note, we will talk about the trading dynamics.


NTT DC REIT IPO Trading - Decent Demand, High Yield and Discount Should Help

Japan

SoftBank Group Corp. provides telecommunication services. The Company also operates ADSL (Asymmetric Digital Subscriber Line) and fiber optic high-speed Internet connection, e-Commerce businesses, and Internet based advertising and auction businesses.

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Softbank Group (9984 JP)

JPX Margin Trading Weekly (Jul 18th): Lasertec, Fujikura, Advantest, Sanrio, Ihi, Fast Retailing

We analyzed JPX margin trading positions report for the past week and highlighted Lasertec (6920 JP), Fujikura (5803 JP), Advantest (6857 JP),...

Ke Yan, CFA, FRM

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Road King Infrastructure, Continuum Green,...

Lucror Analytics

Japan Morning Connection: Ishiba's Expected Defeat Already Showing Limited Reaction from Markets

Slight negative for power semis after NXP guidance missed. Cyber security names benefiting from aftermath of Microsoft's SharePoint being hacked.

Andrew Jackson

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

NTT DC REIT IPO Trading - Decent Demand, High Yield and Discount Should Help

NTT DC REIT (NTTDCR SP), a data center REIT, raised around US$772m in its Singapore IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

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52-week Range

Market Cap (USDm)

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