Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Intel rising afterhours on the news the private sector is also coming to its rescue, likely prompted by the Govt.</li>
<li>Palo Alto beating after hours puts focus on Cybersecurity, while the trend for Trend Micro has lots of room to improve.</li>
<li>Homebuilder confidence down to post pandemic lows but homebuilders barely dipping as market looks through to Sep.</li>
</ul>


Intel rising afterhours on the news the private sector is also coming to its rescue, likely prompted by the Govt.
Palo Alto beating after hours puts focus on Cybersecurity, while the trend for Trend Micro has lots of room to improve.
Homebuilder confidence down to post pandemic lows but homebuilders barely dipping as market looks through to Sep.


Japan Morning Connection: Trump Changes Intel's Deal to a Stake for Chips Money

<ul>
<li>Power-Semi's leading the charge higher on positive broker comments for the sector while AI related takes a backseat.</li>
<li>Intel continues to move up with CEO Tan set to submit proposals to Trump next week which will certainly point to close alignment.</li>
<li>CPI data points to Sep rate cut which helped Homebuilders and airlines were up on Spirit woes.</li>
</ul>


Power-Semi's leading the charge higher on positive broker comments for the sector while AI related takes a backseat.
Intel continues to move up with CEO Tan set to submit proposals to Trump next week which will certainly point to close alignment.
CPI data points to Sep rate cut which helped Homebuilders and airlines were up on Spirit woes.


Japan Morning Connection: Market Ignoring Chinese Pullback from NVDA's H20 with Tech Surge Higher

<ul>
<li>Intel CEO Tan summoned to Washington for meetings will likely result in a bigger domestic fab push.</li>
<li>Micron beats on HBM, Kioxia on NAND - sets a good tone for memory overall.</li>
<li>NVDA selling Blackwell in China positive for substrate supplier Ibiden.</li>
</ul>


Intel CEO Tan summoned to Washington for meetings will likely result in a bigger domestic fab push.
Micron beats on HBM, Kioxia on NAND - sets a good tone for memory overall.
NVDA selling Blackwell in China positive for substrate supplier Ibiden.


Japan Morning Connection: AMD and NVDA Set to Pay 15% of China Chip Sales to US for Export Licenses

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

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 JP)</a> is scheduled to be listed on 19 March 2025, at the prime market of the Tokyo Stock Exchange at an expected valuation of ~$5.3bn.</li>
<li>Fast-Entry inclusion for the one global index can take place on 25 March if the stock price surges by ~30% or more on the first trading day.</li>
<li>Review inclusion given failed fast-entries for both global indices, is expected in August and September 2025.</li>
</ul>



JX Advanced Metals (5016 JP) is scheduled to be listed on 19 March 2025, at the prime market of the Tokyo Stock Exchange at an expected valuation of ~$5.3bn.
Fast-Entry inclusion for the one global index can take place on 25 March if the stock price surges by ~30% or more on the first trading day.
Review inclusion given failed fast-entries for both global indices, is expected in August and September 2025.


JX Advanced Metals (5016 JP): IPO Fast-Entry 30% Away; Index Review Inclusion in Aug & Sep 2025

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

GigaDevice Semiconductor  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gigadevice-semiconductor-inc" target="_blank" data-smartkarma-citation="entities:27253:1" rel="noopener">GigaDevice Semiconductor (603986 CH)</a> (GD), an IC design house, aims to raise around US$1bn in its H-share listing.</li>
<li>GD is a leading specialty memory chip and MCU company in mainland China.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



GigaDevice Semiconductor (603986 CH) (GD), an IC design house, aims to raise around US$1bn in its H-share listing.
GD is a leading specialty memory chip and MCU company in mainland China.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


GigaDevice A/H Listing -Strong Long Term Record but Exposed to the Memory Cycle

Japan

Kioxia Holdings Corporation manufactures semiconductor memory products. The Company develops, produces, and sells flash memory cards, solid state drives, secure digital memory cards, and other products. Kioxia Holdings also operates group management strategy formulation and management.

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Kioxia Holdings (285A JP)

Japan Morning Connection: Trump Changes Intel's Deal to a Stake for Chips Money

News just out that Softbank is signing a $2bn investment deal with Intel. Homebuilders barely dipping despite low confidence. Some analysts saying...

Andrew Jackson

Japan Morning Connection: Market Ignoring Chinese Pullback from NVDA's H20 with Tech Surge Higher

Power semis higher on positive broker comments, Intel continues to benefit from CEO in the limelight, moves higher for airlines and homebuilders.

Andrew Jackson

Japan Morning Connection: AMD and NVDA Set to Pay 15% of China Chip Sales to US for Export Licenses

JP still needs to price in large cap tech gains in the US from Friday, Intel up after Trump's meeting with CEO Tan, positive for Ibiden if NVDA is...

Andrew Jackson

JX Advanced Metals (5016 JP): IPO Fast-Entry 30% Away; Index Review Inclusion in Aug & Sep 2025

Inclusion in Global-M remains anticipated at the August 2025 review. Market cap is close to the SmallCap - Standard threshold but estimated to be...

Dimitris Ioannidis

GigaDevice A/H Listing -Strong Long Term Record but Exposed to the Memory Cycle

GigaDevice Semiconductor (603986 CH) (GD), an IC design house, aims to raise around US$1bn in its H-share listing. In this note, we look at the...

Sumeet Singh

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