Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. US LABOR DAY HOLIDAY. With US out, No leaders in Global Equities; European shares closed flat on thin Volumes;  China's measures to support Property market taking hold. </li>
<li>JAPAN.US Markets Off. NKY Futs vs Cash -0.1%; USDJPY 146.5; Nikkei Rebal: Mercari, Lasertec, Nitori ADDED; Nippon Sheet Glass, Mitsui E&amp;S, Matsui Sec OUT; JFE 200bn Equity/CB raising  </li>
<li>JAPAN X: JFE Holdings Plans to Raise ¥200 Billion for Carbon Emissions Reduction Efforts. Still need clarity willingness of customers to accept "green pricing".  Watch Nippon Steel and Kobe Steel. </li>
</ul>


OVERSEAS. US LABOR DAY HOLIDAY. With US out, No leaders in Global Equities; European shares closed flat on thin Volumes;  China's measures to support Property market taking hold. 
JAPAN.US Markets Off. NKY Futs vs Cash -0.1%; USDJPY 146.5; Nikkei Rebal: Mercari, Lasertec, Nitori ADDED; Nippon Sheet Glass, Mitsui E&amp;S, Matsui Sec OUT; JFE 200bn Equity/CB raising  
JAPAN X: JFE Holdings Plans to Raise ¥200 Billion for Carbon Emissions Reduction Efforts. Still need clarity willingness of customers to accept "green pricing".  Watch Nippon Steel and Kobe Steel. 


Ohayo Japan| Lack of Direction with US Closed; JAPAN X: JFE to Raise ¥200bn for Green Steel Drive

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Aug 14th. The aggregated net margin trading position is USD27,503m.</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 Kioxia, Advantest, IHI, Tokio Marine, Nintendo, Screen, Mitsubishi Heavy Industries, Taiyo Yuden, Fast Retailing, Rakuten.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 14th. The aggregated net margin trading position is USD27,503m.
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 Kioxia, Advantest, IHI, Tokio Marine, Nintendo, Screen, Mitsubishi Heavy Industries, Taiyo Yuden, Fast Retailing, Rakuten.


JPX Margin Trading Weekly (Aug 14th): Kioxia, Advantest, IHI, Tokio Marine, Nintendo, Screen

<ul>
<li>Wage pressures continue to build in Japan. The country's largest employer of part-time workers, AEON, is raising wages. Same goes for systems operator, TIS</li>
<li>It has been a disappointing year for shareholders of Z Holdings - perhaps a management change and new round of restructuring will help</li>
<li>Divergent fortunes for SPE names Screen and Lasertec. Suspect this has more to do with short term positioning. The fundamentals are broadly similar</li>
</ul>


Wage pressures continue to build in Japan. The country's largest employer of part-time workers, AEON, is raising wages. Same goes for systems operator, TIS
It has been a disappointing year for shareholders of Z Holdings - perhaps a management change and new round of restructuring will help
Divergent fortunes for SPE names Screen and Lasertec. Suspect this has more to do with short term positioning. The fundamentals are broadly similar


Japan Weekly | Z Holdings, Money Forward, Screen, Lasertec

<ul>
<li>OVERSEAS. SPX makes  up for yesterday's loss and more; Markets look past Fed and focus on earnings recovery;  Its all about the Pause;   GM Beats but CAT misses; Awaiting AAPL</li>
<li>JAPAN.  NKY Futs +0.6% Cash; USDJPY 130.11; Labor Shortages worsening (again), Firms desperate;  BYD seeks to Capture JP EV Market;   Komatsu Beats; Lasertec Misses. </li>
<li>DAILY NUGGETS. 6h 37m: The Average Time Spent Using the Internet.  Japan the outlier..for the better ?</li>
</ul>


OVERSEAS. SPX makes  up for yesterday's loss and more; Markets look past Fed and focus on earnings recovery;  Its all about the Pause;   GM Beats but CAT misses; Awaiting AAPL
JAPAN.  NKY Futs +0.6% Cash; USDJPY 130.11; Labor Shortages worsening (again), Firms desperate;  BYD seeks to Capture JP EV Market;   Komatsu Beats; Lasertec Misses. 
DAILY NUGGETS. 6h 37m: The Average Time Spent Using the Internet.  Japan the outlier..for the better ?


Good Morning Japan |Fed Hike, Powell Speech ? Equities Beyond as Optimism Abounds,from Spotify to GM

<ul>
<li>OVERSEAS.  SPX +1.2% but all Action in Tech as SOX +5.5%; Barclay Sector upgrade spurs Semis; Fed Hikes in the rear view for now; Watch Copper - supply risks+China demand</li>
<li>JAPAN. NKY Futs +0.9% vs Cash; USDJPY 130.65; Where US goes, Japan will follow: All about Tech; Kishida speech: Nuclear Power, Defense, Child support in focus; Wage hikes gather steam. </li>
<li>DAILY NUGGET. Davos  on board with the coming of the Metaverse. We highlight this and think there are near term challenges. </li>
</ul>


OVERSEAS.  SPX +1.2% but all Action in Tech as SOX +5.5%; Barclay Sector upgrade spurs Semis; Fed Hikes in the rear view for now; Watch Copper - supply risks+China demand
JAPAN. NKY Futs +0.9% vs Cash; USDJPY 130.65; Where US goes, Japan will follow: All about Tech; Kishida speech: Nuclear Power, Defense, Child support in focus; Wage hikes gather steam. 
DAILY NUGGET. Davos  on board with the coming of the Metaverse. We highlight this and think there are near term challenges. 


Good Morning Japan |THE SQUEEZE - Just Buy Tech; US Broker U/G to Semi Spurs Rally; Watch Copper

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Lasertec Corp (6920 JP)

Ohayo Japan| Lack of Direction with US Closed; JAPAN X: JFE to Raise ¥200bn for Green Steel Drive

US Markets Off. NKY Futs vs Cash -0.1%; USDJPY 146.5; Nikkei Rebal: Mercari, Lasertec, Nitori ADDED; Nippon Sheet Glass, Mitsui E&S, Matsui Sec...

Mark Chadwick

JPX Margin Trading Weekly (Aug 14th): Kioxia, Advantest, IHI, Tokio Marine, Nintendo, Screen

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), Advantest (6857 JP), IHI (7013 JP), Tokio...

Ke Yan, CFA, FRM

Japan Weekly | Z Holdings, Money Forward, Screen, Lasertec

We take a look at the stocks that have been moving the Japanese equity markets over the past week. Z Holdings was the standout performer on restra...

Mark Chadwick

Good Morning Japan |Fed Hike, Powell Speech ? Equities Beyond as Optimism Abounds,from Spotify to GM

JAPAN WRAP. NKY Futs +0.6% Cash; USDJPY 130.11. Set for a decent day after the Beta-driven rally in the US. Still, it won't be all green on the...

Mark Chadwick

Good Morning Japan |THE SQUEEZE - Just Buy Tech; US Broker U/G to Semi Spurs Rally; Watch Copper

JAPAN. NKY Futs +0.9% vs Cash; USDJPY 130.65; Where US goes, Japan will follow: All about Tech; Kishida speech: Nuclear Power, Defense, Child...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)