Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Tech and semis sharply lower as investors go risk off, although Coreweave bucks the trend to jump another 19%.</li>
<li>Infineon buoyed sentiment for power semi's somewhat after announcing tie up with NVDA for HVDC data center systems.</li>
<li>Expect a rough ride for Home builders and construction related plays such as Sumitomo Forestry and Shin Etsu.</li>
</ul>


Tech and semis sharply lower as investors go risk off, although Coreweave bucks the trend to jump another 19%.
Infineon buoyed sentiment for power semi's somewhat after announcing tie up with NVDA for HVDC data center systems.
Expect a rough ride for Home builders and construction related plays such as Sumitomo Forestry and Shin Etsu.


Japan Morning Connection: Markets Creaking Under the Weight of Poor Demand for US Bonds

<ul>
<li>Tech and AI leading gains but the current rally feels like its running out of steam.</li>
<li>Languid outlook from Advantest will not enthuse Japan SPE names.</li>
<li>Shin Etsu blowing the doors off with a Y500bn buyback.</li>
</ul>


Tech and AI leading gains but the current rally feels like its running out of steam.
Languid outlook from Advantest will not enthuse Japan SPE names.
Shin Etsu blowing the doors off with a Y500bn buyback.


Japan Morning Connection: Rebound Continues with the SPX Clocking Its Best Run Since January

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<ul>
<li>We are upgrading our existing facilities and any discussions with customers at this point are based on the capacity that we believe is possible as a result of such upgrades.</li>
<li>Demand is likely to exceed supply for more than three years, because of such supply constraints. In terms of the price level,  prices would need to be dramatically higher.</li>
<li>We have no plans whatsoever to restart the Yoshinogari project. At current price levels, it is not viable. All costs are rising now, with Japan potentially headed for more inflation</li>
</ul>


We are upgrading our existing facilities and any discussions with customers at this point are based on the capacity that we believe is possible as a result of such upgrades.
Demand is likely to exceed supply for more than three years, because of such supply constraints. In terms of the price level,  prices would need to be dramatically higher.
We have no plans whatsoever to restart the Yoshinogari project. At current price levels, it is not viable. All costs are rising now, with Japan potentially headed for more inflation


Silicon Wafers & The Looming Leading Edge Supply Crisis

Japan Specialist

Mark Chadwick

<ul>
<li>US markets fall as tech stocks slide – Fed holds rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while Tesla rises despite weak results.</li>
<li>Fed cautious on inflation and rates – Officials see trade and immigration pressures, inflation remains elevated, job market solid, and a higher bar for further rate cuts.</li>
<li>Strong earnings from Japan Inc.  – Advantest's profit up 2.7x, Makita's net profit up 65%,  &amp; Shin Etsu's profit rises 6%.</li>
</ul>


US markets fall as tech stocks slide – Fed holds rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while Tesla rises despite weak results.
Fed cautious on inflation and rates – Officials see trade and immigration pressures, inflation remains elevated, job market solid, and a higher bar for further rate cuts.
Strong earnings from Japan Inc.  – Advantest's profit up 2.7x, Makita's net profit up 65%,  &amp; Shin Etsu's profit rises 6%.


Ohayo Japan | Nvidia, Meta, and Microsoft Hit Hard

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.</li>
<li>We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it. </li>
<li>
Most overbought: Meta, Softbank Group, SK Hynix, USO. Most oversold: NetEase Cloud Music, BYD Company, HKEX and Clearing, ASX 200, CATL, Hitachi, Advantest Corp, SPDR Gold Shares, BHP Group Ltd</li>
</ul>


WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.
We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it. 

Most overbought: Meta, Softbank Group, SK Hynix, USO. Most oversold: NetEase Cloud Music, BYD Company, HKEX and Clearing, ASX 200, CATL, Hitachi, Advantest Corp, SPDR Gold Shares, BHP Group Ltd


WEEKLY Tactical Recap | Asymmetric Setups : SoftBank Group, SK Hynix, CATL, META, Gold, Oil, NetEase

Japan

Shin-Etsu Chemical Co., Ltd. produces and distributes synthetic resins and other chemical products such as fertilizers. The Company also manufactures electronic materials such as semiconductor silicon, synthetic, and rare earth quartz. Shin-Etsu Chemical operates in Japan and overseas.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Shin Etsu Chemical (4063 JP)

Japan Morning Connection: Markets Creaking Under the Weight of Poor Demand for US Bonds

Investors shift to risk-off mode due to concerns over US's fiscal stability. Banks, R/E, consumer disc and home builders fall. Infineon's NVDA...

Andrew Jackson

Japan Morning Connection: Rebound Continues with the SPX Clocking Its Best Run Since January

Tech and AI stocks still leading gains but may be losing momentum. Advantest's lackluster forecast will dampen enthusiasm for Japan SPE names....

Andrew Jackson

Silicon Wafers & The Looming Leading Edge Supply Crisis

Demand is likely to exceed supply for more than three years, because of such supply constraints. In terms of the price level, prices would need to...

William Keating

Ohayo Japan | Nvidia, Meta, and Microsoft Hit Hard

US markets fall on tech stock slide despite Fed holding rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while...

Mark Chadwick

WEEKLY Tactical Recap | Asymmetric Setups : SoftBank Group, SK Hynix, CATL, META, Gold, Oil, NetEase

Weekly Macro Tactical Recap | Asymmetric Setups - Quantitative models tracking momentum extremes across Asian/Global equities and commodities to...

Nico Rosti

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Markets Creaking Under the Weight of Poor Demand for US Bonds

​Investors shift to risk-off mode due to concerns over US's fiscal stability. Banks, R/E, consumer disc and home builders fall. Infineon's NVDA...

Andrew Jackson

Japan Morning Connection: Rebound Continues with the SPX Clocking Its Best Run Since January

​Tech and AI stocks still leading gains but may be losing momentum. Advantest's lackluster forecast will dampen enthusiasm for Japan SPE names....

Andrew Jackson

Silicon Wafers & The Looming Leading Edge Supply Crisis

Demand is likely to exceed supply for more than three years, because of such supply constraints. In terms of the price level, prices would need to...

William Keating

Ohayo Japan | Nvidia, Meta, and Microsoft Hit Hard

​US markets fall on tech stock slide despite Fed holding rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while...

Mark Chadwick

WEEKLY Tactical Recap | Asymmetric Setups : SoftBank Group, SK Hynix, CATL, META, Gold, Oil, NetEase

Weekly Macro Tactical Recap | Asymmetric Setups - Quantitative models tracking momentum extremes across Asian/Global equities and commodities to...

Nico Rosti

Investors shift to risk-off mode due to concerns over US's fiscal stability. Banks, R/E, consumer disc and home builders fall. Infineon's NVDA...

Tech and AI stocks still leading gains but may be losing momentum. Advantest's lackluster forecast will dampen enthusiasm for Japan SPE names....

US markets fall on tech stock slide despite Fed holding rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while...