Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/furuya-metal-co-ltd" target="_blank" data-smartkarma-citation="entities:5196:1" rel="noopener">Furuya Metal (7826 JP)</a> and <a href="https://www.smartkarma.com/entities/visional-inc" target="_blank" data-smartkarma-citation="entities:32977:1" rel="noopener">Visional (4194 JP)</a> are expected to be included in the TOPIX index at the end of January 2024. </li>
<li>
<a href="https://www.smartkarma.com/entities/wilmar-international-ltd" target="_blank" data-smartkarma-citation="entities:172:1" rel="noopener">Wilmar International (WIL SP)</a>'s current implied stub and simple ratio (Wilmar/ <a href="https://www.smartkarma.com/entities/yihai-kerry-arawana-holdings-c" target="_blank" data-smartkarma-citation="entities:33230:1" rel="noopener">Yihai Kerry Arawana Holdings (300999 CH)</a>) are both at all-time highs.</li>
<li>Reportedly, the mother and two sisters of <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> Chairman Jay Y. Lee plan to sell shares in a block deal worth ~₩2.8tn ($2.1bn billion.</li>
</ul>



Furuya Metal (7826 JP) and Visional (4194 JP) are expected to be included in the TOPIX index at the end of January 2024. 

Wilmar International (WIL SP)'s current implied stub and simple ratio (Wilmar/ Yihai Kerry Arawana Holdings (300999 CH)) are both at all-time highs.
Reportedly, the mother and two sisters of Samsung Electronics (005930 KS) Chairman Jay Y. Lee plan to sell shares in a block deal worth ~₩2.8tn ($2.1bn billion.


Last Week in Event SPACE: Furuya Metal, Visional, Wilmar, Samsung Electronics, ViinFast/Vingroup

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. All Major US Equity Indices rose: SPX +0.7%; Dow 1.2% after a last weeks sell off; US 10Yr yields rise on anticipated increased sales; Mgmt Transition worries at Tesla?</li>
<li>JAPAN.  NKY Futures +0.5% vs Cash; USDJPY  142.5;  METI releases guidelines on developing AI HR; Toshiba tend to start (finally!); Broker upgrades to MHI(7011) (A bit late to the party)</li>
<li>NUGGET. ENEOS to collaborate with Total Energy (France) to produce SAF. SAF has huge potential and we think its worth paying attention to as Japan pushes its carbon-zero agenda.</li>
</ul>


OVERSEAS. All Major US Equity Indices rose: SPX +0.7%; Dow 1.2% after a last weeks sell off; US 10Yr yields rise on anticipated increased sales; Mgmt Transition worries at Tesla?
JAPAN.  NKY Futures +0.5% vs Cash; USDJPY  142.5;  METI releases guidelines on developing AI HR; Toshiba tend to start (finally!); Broker upgrades to MHI(7011) (A bit late to the party)
NUGGET. ENEOS to collaborate with Total Energy (France) to produce SAF. SAF has huge potential and we think its worth paying attention to as Japan pushes its carbon-zero agenda.


Ohayo Japan| Equities Rebound; Yields Rise; NUGGET: Sustainable Aviation Fuel -ENEOS Joins the Party

<ul>
<li>OVERSEAS.  Bullard Calms Recession fears; SPX stabilizes; 2Yr Yields Rise: Non Farm Payrolls in Focus ahead of Good Friday Holidays </li>
<li>JAPAN. NKY Futs +0.5% vs Cash; USDJPY 131.7; ex-IMF Chief Economist Blanchard says BOJ to remain accomodative;  JP Corporates doubles buying of own stocks in 2022; Point 72 JP expansion</li>
<li>NUGGET.  KEPCO reconfirmed its plan to bring 2 addl Nuclear power plans online in a few months. The profit uptick will be considerable. We maintain KEPCO as a TOP PICK.</li>
</ul>


OVERSEAS.  Bullard Calms Recession fears; SPX stabilizes; 2Yr Yields Rise: Non Farm Payrolls in Focus ahead of Good Friday Holidays 
JAPAN. NKY Futs +0.5% vs Cash; USDJPY 131.7; ex-IMF Chief Economist Blanchard says BOJ to remain accomodative;  JP Corporates doubles buying of own stocks in 2022; Point 72 JP expansion
NUGGET.  KEPCO reconfirmed its plan to bring 2 addl Nuclear power plans online in a few months. The profit uptick will be considerable. We maintain KEPCO as a TOP PICK.


Good Morning Japan |Fed's Bullard Offers Comfort; NUGGET: Kansai Electric- Watch the Nuke Restarts !

<ul>
<li>OVERSEAS. SPX carve out gains on relief Bank rally; Energy leads on Oil supply distruptions; Tech lags on profit taking; Crypto in spotlight as US cracks down on Binance/CEO CZ</li>
<li>JAPAN. Nikkei Futs -0.5% vs Cash; USDJPY 131.6;  Diplomatic Row btw Japan-China brewing on arrest of Japanese national for spying; SMFG expands in Vietnam; Bullish Toray MTP</li>
<li>NUGGET. Softbank just cannot catch a break. Son-san ARM IPO to be wildly successful. $70bn IPO Valuation seem a tall ask. Can Son-san pull this one off ?</li>
</ul>


OVERSEAS. SPX carve out gains on relief Bank rally; Energy leads on Oil supply distruptions; Tech lags on profit taking; Crypto in spotlight as US cracks down on Binance/CEO CZ
JAPAN. Nikkei Futs -0.5% vs Cash; USDJPY 131.6;  Diplomatic Row btw Japan-China brewing on arrest of Japanese national for spying; SMFG expands in Vietnam; Bullish Toray MTP
NUGGET. Softbank just cannot catch a break. Son-san ARM IPO to be wildly successful. $70bn IPO Valuation seem a tall ask. Can Son-san pull this one off ?


Good Morning Japan |More Bank Relief as SPX Gains 0.2%; NUGGET: Softbank- Just Can't Catch a Break

<ul>
<li>OVERSEAS. Crisis Over !Bailouts from US to Europe, Stocks rally as Contagion fears wane; Major Banks rescue First Republic Bank; Swiss Central Bank protects Credit Suisse; ECB raises by 50bps</li>
<li>JAPAN. NKY Futs flat vs Cash; USDJPY 133.8; Expect Japan Equities to start the road to recovery with macro fears subsiding;  Japan-Korea move fwd on trade/security. </li>
<li>NUGGET. Orix - one of the Biggest Renewables Plays in Japan. Riding the Decarbonization MegaTrend</li>
</ul>


OVERSEAS. Crisis Over !Bailouts from US to Europe, Stocks rally as Contagion fears wane; Major Banks rescue First Republic Bank; Swiss Central Bank protects Credit Suisse; ECB raises by 50bps
JAPAN. NKY Futs flat vs Cash; USDJPY 133.8; Expect Japan Equities to start the road to recovery with macro fears subsiding;  Japan-Korea move fwd on trade/security. 
NUGGET. Orix - one of the Biggest Renewables Plays in Japan. Riding the Decarbonization MegaTrend


Good Morning Japan |VICTORY Declared as Bailouts Rule; NUGGET: ORIX-Riding the Zero-Carbon MegaTrend

Japan

TORAY INDUSTRIES, INC. manufactures yarns, synthetic fibers, and man-made leather used as apparel and industrial materials.  The Company also makes chemical products such as polyester films, engineering plastics, and resin materials.  Toray develops information equipment such as electronic circuit and liquid crystal color filter.

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Toray Industries (3402 JP)

Last Week in Event SPACE: Furuya Metal, Visional, Wilmar, Samsung Electronics, ViinFast/Vingroup

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Ohayo Japan| Equities Rebound; Yields Rise; NUGGET: Sustainable Aviation Fuel -ENEOS Joins the Party

US stock rebound; 10 year yields rise - anticipating a wave of buying; NKY Futures +0.5% vs Cash; USDJPY 142.5; METI releases guidelines on...

Mark Chadwick

Good Morning Japan |Fed's Bullard Offers Comfort; NUGGET: Kansai Electric- Watch the Nuke Restarts !

Bullard Calms Markets; ex-IMF Chief Economist Blanchard says BOJ to remain accomodative; Japanese Corporates doubles buying of own stocks

Mark Chadwick

Good Morning Japan |More Bank Relief as SPX Gains 0.2%; NUGGET: Softbank- Just Can't Catch a Break

SPX carve out gains on relief Bank rally; Tech lags on profit taking; Crypto in spotlight as US cracks down on Binance/CEO CZ. Japan to follow. ...

Mark Chadwick

Good Morning Japan |VICTORY Declared as Bailouts Rule; NUGGET: ORIX-Riding the Zero-Carbon MegaTrend

Expect Japan Equities to start the road to recovery with macro fears subsiding; Japan-Korea move fwd on trade/security. NUGGET: Orix - as a...

Mark Chadwick

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