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 Sep 19th. The aggregated net margin trading position is USD16,218m.</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, Disco, Tokyo Electron, Nintendo, Fast Retailing, Sanrio, Mitsubishi UFJ Financial, Fujikura, Koei Tecmo, Lifedrink, Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Sep 19th. The aggregated net margin trading position is USD16,218m.
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, Disco, Tokyo Electron, Nintendo, Fast Retailing, Sanrio, Mitsubishi UFJ Financial, Fujikura, Koei Tecmo, Lifedrink, Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing.


JPX Margin Trading Weekly (Sep 19th): Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Aug 29th. The aggregated net margin trading position is USD17,417m.</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 Ryohin Keikaku, Disco, Yoshinoya, Advantest, Mitsubishi Heavy Industries, Mitsubishi UFJ Financial, Fast Retailing, Nintendo, Fujikura, Furukawa Electric, Ryohin Keikaku, Disco, Yoshinoya, Advantest.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 29th. The aggregated net margin trading position is USD17,417m.
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 Ryohin Keikaku, Disco, Yoshinoya, Advantest, Mitsubishi Heavy Industries, Mitsubishi UFJ Financial, Fast Retailing, Nintendo, Fujikura, Furukawa Electric, Ryohin Keikaku, Disco, Yoshinoya, Advantest.


JPX Margin Trading Weekly (Aug 29th): Ryohin Keikaku, Disco, Yoshinoya, Advantest

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Nikkei gained +0.2%, buoyed by outsized advances in AI-linked names, while the broader Topix declined -0.8%, trimming year-to-date gains amid rising bond yields and trade uncertainty. </li>
<li>Tokyo CPI rose +2.5% y/y, above target; labour market tightness and resilient consumer sentiment reinforce BOJ hike speculation, even as Fed signals potential policy easing.</li>
<li>Nikon surged 16% after EssilorLuxottica proposed lifting its stake to ~20%, fueling speculation over AR/VR synergies.</li>
</ul>


Nikkei gained +0.2%, buoyed by outsized advances in AI-linked names, while the broader Topix declined -0.8%, trimming year-to-date gains amid rising bond yields and trade uncertainty. 
Tokyo CPI rose +2.5% y/y, above target; labour market tightness and resilient consumer sentiment reinforce BOJ hike speculation, even as Fed signals potential policy easing.
Nikon surged 16% after EssilorLuxottica proposed lifting its stake to ~20%, fueling speculation over AR/VR synergies.


Japan Weekly | Narrow Leadership Lifts Nikkei, Topix Retreats

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Aug 22nd. The aggregated net margin trading position is USD15,656m.</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 SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco, Tokyo Electron, IHI, Fujikura, Kawasaki Heavy Industries, Lasertec, Mitsubishi Heavy Industries, Softbank, Mitsubishi Ufj Financial, Sanrio.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 22nd. The aggregated net margin trading position is USD15,656m.
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 SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco, Tokyo Electron, IHI, Fujikura, Kawasaki Heavy Industries, Lasertec, Mitsubishi Heavy Industries, Softbank, Mitsubishi Ufj Financial, Sanrio.


JPX Margin Trading Weekly (Aug 22nd): SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>A pullback in tech with momentum factor significantly underperforming value. </li>
<li>Intel rallies as high as 12% as it prices in Son's $2bn investment and Lutnick confirms Chips funds for Equity.</li>
<li>Japan's MoD budget may not meet investors lofty expectations given the backdrop of 5% targets in EU.</li>
</ul>


A pullback in tech with momentum factor significantly underperforming value. 
Intel rallies as high as 12% as it prices in Son's $2bn investment and Lutnick confirms Chips funds for Equity.
Japan's MoD budget may not meet investors lofty expectations given the backdrop of 5% targets in EU.


Japan Morning Connection: Buffets Steps in to Take Stakes in US Homebuilder Majors

Japan

Fujikura Ltd. manufactures and sells wires and cables such as optical fiber cables and coaxial cables. The Company's products include optical transmission system, electronic materials, and telecommunication cables.

Price Gauge
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Fujikura Ltd (5803 JP)

JPX Margin Trading Weekly (Sep 19th): Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing

We analyzed JPX margin trading positions report for the past week and highlighted Lasertec (6920 JP), Disco (6146 JP), Tokyo Electron (8035 JP),...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (Aug 29th): Ryohin Keikaku, Disco, Yoshinoya, Advantest

We analyzed JPX margin trading positions report for the past week and highlighted Ryohin Keikaku (7453 JP), Disco (6146 JP), Yoshinoya (9861 JP),...

Ke Yan, CFA, FRM

Japan Weekly | Narrow Leadership Lifts Nikkei, Topix Retreats

Nikkei rises on AI gains, Tokyo CPI up, Nikon surges on stake proposal. Bond yields and trade uncertainty weigh on Topix. Fed easing vs BOJ hike...

Mark Chadwick

JPX Margin Trading Weekly (Aug 22nd): SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco

We analyzed JPX margin trading positions report for the past week and highlighted SoftBank (9984 JP), Mitsubishi UFJ Financial (8306 JP), Sanrio...

Ke Yan, CFA, FRM

Japan Morning Connection: Buffets Steps in to Take Stakes in US Homebuilder Majors

Lower rates and pick up in demand for US Homebuilders attracts Warren Buffet. NVDA reportedly developing new Blackwell GPU for China market. Will...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JPX Margin Trading Weekly (Sep 19th): Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing

We analyzed JPX margin trading positions report for the past week and highlighted Lasertec (6920 JP), Disco (6146 JP), Tokyo Electron (8035 JP),...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (Aug 29th): Ryohin Keikaku, Disco, Yoshinoya, Advantest

We analyzed JPX margin trading positions report for the past week and highlighted Ryohin Keikaku (7453 JP), Disco (6146 JP), Yoshinoya (9861 JP),...

Ke Yan, CFA, FRM

Japan Weekly | Narrow Leadership Lifts Nikkei, Topix Retreats

​Nikkei rises on AI gains, Tokyo CPI up, Nikon surges on stake proposal. Bond yields and trade uncertainty weigh on Topix. Fed easing vs BOJ hike...

Mark Chadwick

JPX Margin Trading Weekly (Aug 22nd): SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco

We analyzed JPX margin trading positions report for the past week and highlighted SoftBank (9984 JP), Mitsubishi UFJ Financial (8306 JP), Sanrio...

Ke Yan, CFA, FRM

Japan Morning Connection: Buffets Steps in to Take Stakes in US Homebuilder Majors

Lower rates and pick up in demand for US Homebuilders attracts Warren Buffet. NVDA reportedly developing new Blackwell GPU for China market. Will...

Andrew Jackson

Nikkei rises on AI gains, Tokyo CPI up, Nikon surges on stake proposal. Bond yields and trade uncertainty weigh on Topix. Fed easing vs BOJ hike...