Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Overseas: SPX -0.1%, Nasdaq -0.1%; Mixed signals from the Fed; CrowdStrike +10%, GM +9%</li>
<li>Today: NKY Futs -0.1% v cash. JPY/$ 147.3; Toyota to sell shares in Denso; Japan announces extra budget to offset inflation</li>
<li>JapanX: Honda Charges Ahead with its investment in electric motorcycles</li>
</ul>


Overseas: SPX -0.1%, Nasdaq -0.1%; Mixed signals from the Fed; CrowdStrike +10%, GM +9%
Today: NKY Futs -0.1% v cash. JPY/$ 147.3; Toyota to sell shares in Denso; Japan announces extra budget to offset inflation
JapanX: Honda Charges Ahead with its investment in electric motorcycles


Ohayo Japan | GM Higher on $10bn Buyback; Honda Boosts Bet on Electric Bikes

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>Our 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: Samsung Electronics, SK Hynix, Gold and Oil. Most oversold: NetEase Cloud M,Nikkei 225,Hitachi, Broadcom</li>
</ul>


Our 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: Samsung Electronics, SK Hynix, Gold and Oil. Most oversold: NetEase Cloud M,Nikkei 225,Hitachi, Broadcom


WEEKLY Tactical Recap: Samsung Electronics, SK Hynix, Nikkei 225, CATL, Tokyo Electron, Gold, Oil

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
 Highlights: Currently seven pair trade opportunities persist across three markets and five sectors. 
</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

 Highlights: Currently seven pair trade opportunities persist across three markets and five sectors. 


Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (24 Aug 2026)

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lintec-corp" target="_blank" data-smartkarma-citation="entities:5564:1" rel="noopener">Lintec Corp (7966 JP)</a> has announced a secondary offering of 17.1 million shares (19.7 million including overallotment), valued at around US$0.6 billion (US$0.7 billion including overallotment).</li>
<li>The offering will enable <a href="https://www.smartkarma.com/entities/nippon-paper-industries-co-l" target="_blank" data-smartkarma-citation="entities:557:1" rel="noopener">Nippon Paper Industries Co L (3863 JP)</a>, the largest shareholder, to sell all its directly owned shares.</li>
<li>The offering, as a percentage of outstanding shares, is the sixth-highest, and, in terms of ADV, the fifth-highest among large Japanese placements since 2021.</li>
</ul>



Lintec Corp (7966 JP) has announced a secondary offering of 17.1 million shares (19.7 million including overallotment), valued at around US$0.6 billion (US$0.7 billion including overallotment).
The offering will enable Nippon Paper Industries Co L (3863 JP), the largest shareholder, to sell all its directly owned shares.
The offering, as a percentage of outstanding shares, is the sixth-highest, and, in terms of ADV, the fifth-highest among large Japanese placements since 2021.


Lintec (7966 JP): A US$0.7 Billion Secondary Offering

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares MSCI ACWI ETF / Technical Analysis

<ul>
<li>Last week (Aug. 18) we discussed the 10-year Treasury yield and DXY testing respective resistance (4.3%-4.35% and $103.50-$103.70).</li>
<li>As long as no decisive breakouts in the 10-year yield or DXY, we were buyers on the pullback to $93 on MSCI ACWI (ACWI-US).</li>
<li>Outside of our overweight countries (Japan, India, Taiwan, Greece), defensive Sectors continue to lag. We highlight buys in Technology, Services, Consumer Discretionary, Industrials, Materials/Energy, and Financials.</li>
</ul>


Last week (Aug. 18) we discussed the 10-year Treasury yield and DXY testing respective resistance (4.3%-4.35% and $103.50-$103.70).
As long as no decisive breakouts in the 10-year yield or DXY, we were buyers on the pullback to $93 on MSCI ACWI (ACWI-US).
Outside of our overweight countries (Japan, India, Taiwan, Greece), defensive Sectors continue to lag. We highlight buys in Technology, Services, Consumer Discretionary, Industrials, Materials/Energy, and Financials.


Key Supports Holding Strong; 10-Year Treasury Yield Below Key Resistance; Buys in Non-Defensives

Japan

Honda Motor Co., Ltd. develops, manufactures, and distributes motorcycles, automobiles, and power products such as generators and farm machinery. The Company also operates a financial credit business.  Honda Motor has manufacturing facilities in the US, Canada, the UK, France, Italy, Spain, Brazil, Mexico, India, and Thailand.

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Honda Motor Co Ltd (Adr) (HMC US)

Ohayo Japan | GM Higher on $10bn Buyback; Honda Boosts Bet on Electric Bikes

Mixed signals from the Fed as overseas markets show slight declines. CrowdStrike and GM see gains. In Japan, Toyota plans to sell shares in Denso...

Mark Chadwick

WEEKLY Tactical Recap: Samsung Electronics, SK Hynix, Nikkei 225, CATL, Tokyo Electron, Gold, Oil

Weekly Global Macro Tactical Recap: our models tracks trends across asset classes to highlight overbought/oversold market conditions across Asian...

Nico Rosti

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (24 Aug 2026)

Discover seven pair trade opportunities across three markets and five sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Lintec (7966 JP): A US$0.7 Billion Secondary Offering

The offering, as a percentage of outstanding shares, is the sixth-highest, and, in terms of ADV, the fifth-highest among large Japanese placements...

Arun George

Key Supports Holding Strong; 10-Year Treasury Yield Below Key Resistance; Buys in Non-Defensives

We remain constructive on global equities as long as $ACWI remains above $93 (1+ year base support). 10-year Treasury yield $TNX holding below 4.3...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ohayo Japan | GM Higher on $10bn Buyback; Honda Boosts Bet on Electric Bikes

​Mixed signals from the Fed as overseas markets show slight declines. CrowdStrike and GM see gains. In Japan, Toyota plans to sell shares in Denso...

Mark Chadwick

WEEKLY Tactical Recap: Samsung Electronics, SK Hynix, Nikkei 225, CATL, Tokyo Electron, Gold, Oil

Weekly Global Macro Tactical Recap: our models tracks trends across asset classes to highlight overbought/oversold market conditions across Asian...

Nico Rosti

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (24 Aug 2026)

​Discover seven pair trade opportunities across three markets and five sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Lintec (7966 JP): A US$0.7 Billion Secondary Offering

The offering, as a percentage of outstanding shares, is the sixth-highest, and, in terms of ADV, the fifth-highest among large Japanese placements...

Arun George

Key Supports Holding Strong; 10-Year Treasury Yield Below Key Resistance; Buys in Non-Defensives

We remain constructive on global equities as long as $ACWI remains above $93 (1+ year base support). 10-year Treasury yield $TNX holding below 4.3...

Vermilion Research

Mixed signals from the Fed as overseas markets show slight declines. CrowdStrike and GM see gains. In Japan, Toyota plans to sell shares in Denso...

Discover seven pair trade opportunities across three markets and five sectors using statistical mean-reversion methodology for actionable insights.