Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Trump Intel meetings sends INTC higher in late trading...better for fab suppliers than tape suggests.</li>
<li>Trump touting Govt buying $200bn worth of MBS as panacea for housing.</li>
<li>Defense higher again, while Fast Retailing and Disco post good numbers.</li>
</ul>


Trump Intel meetings sends INTC higher in late trading...better for fab suppliers than tape suggests.
Trump touting Govt buying $200bn worth of MBS as panacea for housing.
Defense higher again, while Fast Retailing and Disco post good numbers.


Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jx-advanced-metals-corporation" target="_blank" data-smartkarma-citation="entities:44346:1" rel="noopener">JX Advanced Metals (5016)</a>, <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525)</a> and <a href="https://www.smartkarma.com/entities/capcom-co-ltd" target="_blank" data-smartkarma-citation="entities:1459:1" rel="noopener">Capcom Co Ltd (9697)</a> replace <a href="https://www.smartkarma.com/entities/konica-minolta-inc" target="_blank" data-smartkarma-citation="entities:17287:1" rel="noopener">Konica Minolta (4902)</a>, <a href="https://www.smartkarma.com/entities/archion-corporation" target="_blank" data-smartkarma-citation="entities:47577:1" rel="noopener">Archion (543A)</a> and <a href="https://www.smartkarma.com/entities/kanadevia-corporation" target="_blank" data-smartkarma-citation="entities:14969:1" rel="noopener">Kanadevia (7004)</a> in the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 Index</a>.</li>
<li>With the new methodology, the index committee appears to be focused on adding stocks with high liquidity and restoring sector balance to align the index with the methodology.</li>
<li>With sector imbalance still rife, there could be 3 more changes for the index in March with more inclusions from the Information and Communications sector likely.</li>
</ul>



JX Advanced Metals (5016), Kokusai Electric (6525) and Capcom Co Ltd (9697) replace Konica Minolta (4902), Archion (543A) and Kanadevia (7004) in the Nikkei 225 Index.
With the new methodology, the index committee appears to be focused on adding stocks with high liquidity and restoring sector balance to align the index with the methodology.
With sector imbalance still rife, there could be 3 more changes for the index in March with more inclusions from the Information and Communications sector likely.


Nikkei 225 Index Rebalance: Capcom (9697 JP) Gets a Boss-Level Upgrade

<ul>
<li>Credo gains read well for connectivity plays but Astera Labs ran out of steam after early pop.</li>
<li>Intel higher still after Apple reportedly signs NDA to explore 18A for the M-series.</li>
<li>Power and industrial semi names led higher by NXP after upbeat comments at UBS conference.</li>
</ul>


Credo gains read well for connectivity plays but Astera Labs ran out of steam after early pop.
Intel higher still after Apple reportedly signs NDA to explore 18A for the M-series.
Power and industrial semi names led higher by NXP after upbeat comments at UBS conference.


Japan Morning Connection: Boeing FCF Back on Track a Good Sign for JP Heavies and CF Makers

<ul>
<li>Intel reportedly producing chips for Apple should also help Ibiden.</li>
<li>Kioxia shakes off Bain selling although there looks to be plenty of upside yet after recent correction.</li>
<li>China tensions simmer further over the w/e positive for defense, negative for tourism related.</li>
</ul>


Intel reportedly producing chips for Apple should also help Ibiden.
Kioxia shakes off Bain selling although there looks to be plenty of upside yet after recent correction.
China tensions simmer further over the w/e positive for defense, negative for tourism related.


Japan Morning Connection: Strong Month-End for Tech Sets Japan up for a Solid Start to Dec

<ul>
<li>Dell bouncing in regular trading after initial weakness after-mkt on numbers the day before.</li>
<li>Semi-Cap names strong led by Teradyne and ASML sets a good tone for Japan SPE overall.</li>
<li>Homebuilders follow through with more gains on rate outlook, watch Shin Etsu on PVC.</li>
</ul>


Dell bouncing in regular trading after initial weakness after-mkt on numbers the day before.
Semi-Cap names strong led by Teradyne and ASML sets a good tone for Japan SPE overall.
Homebuilders follow through with more gains on rate outlook, watch Shin Etsu on PVC.


Japan Morning Connection: Kioxia Weakness Unlikely to Last with Bain's 36m Shs Sale a Blip at Best

Japan

IBIDEN CO, LTD. develops, produces, and markets ceramics, housing materials, and electronics.  The Company's products include printed circuit boards (PCB), graphite specialties, integrated circuit (IC) packages, ceramic fibers, melamine decorative high-pressure laminates, and pre-cut structural materials.

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Ibiden Co Ltd (4062 JP)

Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

JP defense names trading below their 2025 highs while global names run higher. Uniqlo's strong earnings release in Japan and Greater China bodes...

Andrew Jackson

Nikkei 225 Index Rebalance: Capcom (9697 JP) Gets a Boss-Level Upgrade

The Nikkei225 Index rebalances at the close today. Positioning has increased in nearly all adds/deletes since announcement of the changes. JX...

Brian Freitas

Japan Morning Connection: Boeing FCF Back on Track a Good Sign for JP Heavies and CF Makers

Memory names took a back seat, while power and industrial semi's were lifted by upbeat comments at a UBS conference. Intel had another strong move...

Andrew Jackson

Japan Morning Connection: Strong Month-End for Tech Sets Japan up for a Solid Start to Dec

Sentiment for all things AI back on the rise, boosting glass fiber makers. A rebound for memory and Japanese SPE names. Kioxia may keep rising...

Andrew Jackson

Japan Morning Connection: Kioxia Weakness Unlikely to Last with Bain's 36m Shs Sale a Blip at Best

Big moves up from semi-cap names bodes well for Japan SPE, with Ibiden as a dip buying candidate. Kioxia may find support trading close to its 50...

Andrew Jackson

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