Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>AMAT pricing in weak numbers sent semi-cap lower, while Intel bought its gains to 23% for the week.</li>
<li>Housing name starting to cut through the daily static of Treasury moves as sentiment improves ahead of Sep cut.</li>
<li>Home improvement/suppliers such as Toto and Lixil may see increased interest as global rates outside of Japan trend lower.</li>
</ul>


AMAT pricing in weak numbers sent semi-cap lower, while Intel bought its gains to 23% for the week.
Housing name starting to cut through the daily static of Treasury moves as sentiment improves ahead of Sep cut.
Home improvement/suppliers such as Toto and Lixil may see increased interest as global rates outside of Japan trend lower.


Japan Morning Connection: Markets Calm with No Further Tariffs for China

<ul>
<li>AMAT number after market missed showing a slowdown in Chinese demand and licensing delays.</li>
<li>INTC news positive for SPE suppliers but demand will be tempered in light of AMAT.</li>
<li>Coach owner taking a hit on tariff costs sends a warning to likes of Este Lauder who reports next week.</li>
</ul>


AMAT number after market missed showing a slowdown in Chinese demand and licensing delays.
INTC news positive for SPE suppliers but demand will be tempered in light of AMAT.
Coach owner taking a hit on tariff costs sends a warning to likes of Este Lauder who reports next week.


Japan Morning Connection: US Looking to Take a Stage in INTC Will Ensure Fab Ambitions

<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

<ul>
<li>Chipmakers with existing fabs or plans for US expansion will be exempt from the tariffs as Trump pushes his onshoring agenda.</li>
<li>Intel, AMAT, GlobalFoundries are all higher afterhours which should ultimately bide well for JP SPE suppliers.</li>
<li>Power-Semi's are increasingly important for AI which makes the WOLF/Renesas connection look increasingly attractive.</li>
</ul>


Chipmakers with existing fabs or plans for US expansion will be exempt from the tariffs as Trump pushes his onshoring agenda.
Intel, AMAT, GlobalFoundries are all higher afterhours which should ultimately bide well for JP SPE suppliers.
Power-Semi's are increasingly important for AI which makes the WOLF/Renesas connection look increasingly attractive.


Japan Morning Connection: Trump Threatens 100% Chip Tariffs While Tim Cook Kisses the Ring

Japan

Lasertec Corporation develops, designs, manufactures and markets photomask inspection systems to make semiconductor devices, confocal scanning laser microscopes and liquid crystal display (LCD) inspection systems.

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Lasertec Corp (6920 JP)

Japan Morning Connection: Markets Calm with No Further Tariffs for China

Housing sector sentiment improves and forecast to continue with rate cutting cycle ahead. Intel continued to outperform following the prospect of...

Andrew Jackson

Japan Morning Connection: US Looking to Take a Stage in INTC Will Ensure Fab Ambitions

US talks about a stake in Intel to boost US chipmaking, a positive for those involved in Intel's SPE supply chain. Estee Lauder down on concerns...

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

Japan Morning Connection: Trump Threatens 100% Chip Tariffs While Tim Cook Kisses the Ring

Trump threatenes 100% tarriffs on all chip imports, Apple announces it will invest further on US manufacturing for tariff exemptions, Japan SPE may...

Andrew Jackson

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