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 May 23rd. The aggregated net margin trading position is USD16,904m.</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 Mitsubishi Heavy Industries, Kusuri No Aoki, Toyota Industries, Fujikura, Sompo, Sumitomo Mitsui Financial, Furukawa Electric, Softbank, Advantest, Mizuho Financial.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of May 23rd. The aggregated net margin trading position is USD16,904m.
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 Mitsubishi Heavy Industries, Kusuri No Aoki, Toyota Industries, Fujikura, Sompo, Sumitomo Mitsui Financial, Furukawa Electric, Softbank, Advantest, Mizuho Financial.


JPX Margin Trading Weekly (May 23rd): Mitsubishi Heavy Industries, Kusuri No Aoki, Toyota Industries

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of May 16th. The aggregated net margin trading position is USD16,876m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, margin trading position as multiples of ADT.</li>
<li>We highlight net margin buy/sell changes in Dena, Rakuten, Sumitomo Mitsui Financial, Toyota Motor, Mitsui O.S.K. Lines, Kawasaki Heavy Industries, Mitsubishi Ufj Financial, Nippon Yusen Kabushiki Kaisha.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of May 16th. The aggregated net margin trading position is USD16,876m.
We tabulate league tables for top/bottom net long/short of margin trading by value, margin trading position as multiples of ADT.
We highlight net margin buy/sell changes in Dena, Rakuten, Sumitomo Mitsui Financial, Toyota Motor, Mitsui O.S.K. Lines, Kawasaki Heavy Industries, Mitsubishi Ufj Financial, Nippon Yusen Kabushiki Kaisha.


JPX Margin Trading Weekly (May 16th): Dena, Rakuten, Sumitomo Mitsui Financial, Toyota Motor

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Positive US-China talks and the de-escalation of tariffs signal a major softening by both sides.</li>
<li>Expect momentum favourites to continue climbing as risk-on greenlights CTA factor buying.</li>
<li>US Pharma rebounded with Trump executive order seen as toothless and vague.</li>
</ul>


Positive US-China talks and the de-escalation of tariffs signal a major softening by both sides.
Expect momentum favourites to continue climbing as risk-on greenlights CTA factor buying.
US Pharma rebounded with Trump executive order seen as toothless and vague.


Japan Morning Connection: Japan Tech and SPE to Continue Higher with Nasdaq100 Back in a Bull Mkt

<ul>
<li>Power/Analog semi names were buoyed by Microchip Tech comments for a downcycle inflection.</li>
<li>JP Heavies MHI and KHI both failed to impress on Friday, but MHI may see interest on news for possible jet export.</li>
<li>Trump looking to cut pharma costs by 30-80% will add to the uncertainty for JP pharma with high medicare and medicaid exposure.</li>
</ul>


Power/Analog semi names were buoyed by Microchip Tech comments for a downcycle inflection.
JP Heavies MHI and KHI both failed to impress on Friday, but MHI may see interest on news for possible jet export.
Trump looking to cut pharma costs by 30-80% will add to the uncertainty for JP pharma with high medicare and medicaid exposure.


Japan Morning Connection: US-China Talks End on Positive Note Adding to the Bullish Tone to Start

<ul>
<li>Expect weakness after poor SMCI numbers sends AI related plays lower in late trading including NVDA and DELL.</li>
<li>Qorvo bucking the trend with a better-then-expected outlook despite Apple uncertainty in China.</li>
<li>Sony looking to spin off its semiconductor solutions business a watershed for unlocking shareholder value.</li>
</ul>


Expect weakness after poor SMCI numbers sends AI related plays lower in late trading including NVDA and DELL.
Qorvo bucking the trend with a better-then-expected outlook despite Apple uncertainty in China.
Sony looking to spin off its semiconductor solutions business a watershed for unlocking shareholder value.


Japan Morning Connection: SMCI Numbers Casts a Gloomy Shadow over All Things AI to Start Today

Japan

ADVANTEST CORPORATION produces semiconductor testing devices and electronic measuring instruments.  The Company's products include large-scale integration (LSI) test systems, memory test systems, dynamic test handlers, network analyzers, electronic meters, optical testing devices, and signal sources.

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

Advantest Corp (6857 JP)

JPX Margin Trading Weekly (May 23rd): Mitsubishi Heavy Industries, Kusuri No Aoki, Toyota Industries

We analyzed JPX margin trading positions report for the past week and highlighted Mitsubishi Heavy Industries (7011 JP), Kusuri No Aoki (3549 JP),...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (May 16th): Dena, Rakuten, Sumitomo Mitsui Financial, Toyota Motor

We analyzed JPX margin trading position report for the past week and highlighted margin trading activities in Mitsui O.S.K. Lines, Kawasaki Heavy...

Ke Yan, CFA, FRM

Japan Morning Connection: Japan Tech and SPE to Continue Higher with Nasdaq100 Back in a Bull Mkt

US-China trade tensions ease as tariffs are de-escalated, resulting in risk-on buying across sectors. Should see improved sentiment for Japan...

Andrew Jackson

Japan Morning Connection: US-China Talks End on Positive Note Adding to the Bullish Tone to Start

Tech names outperformed the market led by analog/MPU/power semiconductor manufacturer Microchip Technology. Uncertainty for JP Pharma as Trump...

Andrew Jackson

Japan Morning Connection: SMCI Numbers Casts a Gloomy Shadow over All Things AI to Start Today

Poor SMCI numbers will reflect poorly on AI related plays, Qorvo stands out with strong outlook despite Apple uncertainty, Sony's spin off of...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JPX Margin Trading Weekly (May 23rd): Mitsubishi Heavy Industries, Kusuri No Aoki, Toyota Industries

We analyzed JPX margin trading positions report for the past week and highlighted Mitsubishi Heavy Industries (7011 JP), Kusuri No Aoki (3549 JP),...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (May 16th): Dena, Rakuten, Sumitomo Mitsui Financial, Toyota Motor

We analyzed JPX margin trading position report for the past week and highlighted margin trading activities in Mitsui O.S.K. Lines, Kawasaki Heavy...

Ke Yan, CFA, FRM

Japan Morning Connection: Japan Tech and SPE to Continue Higher with Nasdaq100 Back in a Bull Mkt

​US-China trade tensions ease as tariffs are de-escalated, resulting in risk-on buying across sectors. Should see improved sentiment for Japan...

Andrew Jackson

Japan Morning Connection: US-China Talks End on Positive Note Adding to the Bullish Tone to Start

Tech names outperformed the market led by analog/MPU/power semiconductor manufacturer Microchip Technology. Uncertainty for JP Pharma as Trump...

Andrew Jackson

Japan Morning Connection: SMCI Numbers Casts a Gloomy Shadow over All Things AI to Start Today

​Poor SMCI numbers will reflect poorly on AI related plays, Qorvo stands out with strong outlook despite Apple uncertainty, Sony's spin off of...

Andrew Jackson

US-China trade tensions ease as tariffs are de-escalated, resulting in risk-on buying across sectors. Should see improved sentiment for Japan...

Poor SMCI numbers will reflect poorly on AI related plays, Qorvo stands out with strong outlook despite Apple uncertainty, Sony's spin off of...