Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. SPX fell -0.4% as UST Yields rose on back of surprise Canada hike; US swaps now pricing 67% Fed June skips vs 77% before;  China Exports Collapse in May</li>
<li>JAPAN. NKY Futs -0.2% Discount to Cash;  Likely Consolidation in Japan today with Tech weakness; Govt Passes Defense Bill to support Industry profits; SBI HD to start Carbon Trading Exchange</li>
<li>NUGGET. M&amp;A Research (9552) -AI Driven Ways of Doing Old things in helping to solve the critical succession problem plaguing Japan's SMEs</li>
</ul>


OVERSEAS. SPX fell -0.4% as UST Yields rose on back of surprise Canada hike; US swaps now pricing 67% Fed June skips vs 77% before;  China Exports Collapse in May
JAPAN. NKY Futs -0.2% Discount to Cash;  Likely Consolidation in Japan today with Tech weakness; Govt Passes Defense Bill to support Industry profits; SBI HD to start Carbon Trading Exchange
NUGGET. M&amp;A Research (9552) -AI Driven Ways of Doing Old things in helping to solve the critical succession problem plaguing Japan's SMEs


Ohayo Japan |Canada Hikes-Impacts US ?! NUGGET:M&A Rsrch(9552), AI-Driven Ways of Doing Old Things

<ul>
<li>OVERSEAS. SPX +1% as Cyclicals rose on Congress Debt Limit Deal; NFP in focus &amp; implication for Fed June pause; Dollar General -20%..US consumer headwinds; Boeing scraps next-gen aircraft.</li>
<li>JAPAN. NKY Futs +0.8% Cash; Stronger Yen but expect strong equity open on US rally; Foreigners bought Equities for 9th week; Panasonic sees EV battery Sales at 2.5tril by 2030</li>
<li>NUGGET. The 2nd round of Off-shore wind auctions will conclude at the end of June. This will mark the (re) start of Japan's aggressive push for wind.</li>
</ul>


OVERSEAS. SPX +1% as Cyclicals rose on Congress Debt Limit Deal; NFP in focus &amp; implication for Fed June pause; Dollar General -20%..US consumer headwinds; Boeing scraps next-gen aircraft.
JAPAN. NKY Futs +0.8% Cash; Stronger Yen but expect strong equity open on US rally; Foreigners bought Equities for 9th week; Panasonic sees EV battery Sales at 2.5tril by 2030
NUGGET. The 2nd round of Off-shore wind auctions will conclude at the end of June. This will mark the (re) start of Japan's aggressive push for wind.


Ohayo Japan |RALLY PAUSE ?..Not; Debt Deal Spurs Tech Rebound; NUGGET: JP Off-Shore Wind-Set to BLOW

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 7th. The aggregated net margin trading position is USD27,619m.</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, Taiyo Yuden, Tokyo Electron, SoftBank, Toyota Motor, Mitsubishi Heavy Industries, Fujikura, Furukawa Electric, Fujifilm, Nitto Boseki.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 7th. The aggregated net margin trading position is USD27,619m.
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, Taiyo Yuden, Tokyo Electron, SoftBank, Toyota Motor, Mitsubishi Heavy Industries, Fujikura, Furukawa Electric, Fujifilm, Nitto Boseki.


JPX Margin Trading Weekly (Aug 7th): Kioxia, Taiyo Yuden, Tokyo Electron, SoftBank, Toyota Motor

<ul>
<li>OVERSEAS. Crisis Over !Bailouts from US to Europe, Stocks rally as Contagion fears wane; Major Banks rescue First Republic Bank; Swiss Central Bank protects Credit Suisse; ECB raises by 50bps</li>
<li>JAPAN. NKY Futs flat vs Cash; USDJPY 133.8; Expect Japan Equities to start the road to recovery with macro fears subsiding;  Japan-Korea move fwd on trade/security. </li>
<li>NUGGET. Orix - one of the Biggest Renewables Plays in Japan. Riding the Decarbonization MegaTrend</li>
</ul>


OVERSEAS. Crisis Over !Bailouts from US to Europe, Stocks rally as Contagion fears wane; Major Banks rescue First Republic Bank; Swiss Central Bank protects Credit Suisse; ECB raises by 50bps
JAPAN. NKY Futs flat vs Cash; USDJPY 133.8; Expect Japan Equities to start the road to recovery with macro fears subsiding;  Japan-Korea move fwd on trade/security. 
NUGGET. Orix - one of the Biggest Renewables Plays in Japan. Riding the Decarbonization MegaTrend


Good Morning Japan |VICTORY Declared as Bailouts Rule; NUGGET: ORIX-Riding the Zero-Carbon MegaTrend

<ul>
<li>OVERSEAS. Credit Suisse Rattles Markets; Spurs Equity sell off in flight to Safety trade;   UST 2Yr Yld back below 4%;  Crude Extend losses amid Banks sector worries;</li>
<li>JAPAN. NKY Futs -2.6% vs Cash;  USDJPY 133.4.  NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues</li>
<li>NUGGET.  As Japan Hosts "Defense and Security Equipment International (DSEI) JAPAN"  trade show this week,  it will highlight opportunities for local defense contractors overseas.</li>
</ul>


OVERSEAS. Credit Suisse Rattles Markets; Spurs Equity sell off in flight to Safety trade;   UST 2Yr Yld back below 4%;  Crude Extend losses amid Banks sector worries;
JAPAN. NKY Futs -2.6% vs Cash;  USDJPY 133.4.  NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues
NUGGET.  As Japan Hosts "Defense and Security Equipment International (DSEI) JAPAN"  trade show this week,  it will highlight opportunities for local defense contractors overseas.


Good Morning Japan |Now Its Credit Suisse-Markets Rattled; NUGGET: Fuel for Japan's Defense Stocks

Japan

Mitsubishi Heavy Industries, Ltd. is a comprehensive heavy machinery maker. The Company manufactures machinery, ships, turbines and engines, prime movers, aircrafts, and machine parts for military and commercial use.  Mitsubishi Heavy Industries also researches and develops nuclear power plants.

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Mitsubishi Heavy Industries (7011 JP)

Ohayo Japan |Canada Hikes-Impacts US ?! NUGGET:M&A Rsrch(9552), AI-Driven Ways of Doing Old Things

Canada Surpise Hikes; NKY Futs -0.2% Discount to Cash; Likely Consolidation in Japan; Govt Passes Defense Bill to support Industry profits; SBI HD...

Mark Chadwick

Ohayo Japan |RALLY PAUSE ?..Not; Debt Deal Spurs Tech Rebound; NUGGET: JP Off-Shore Wind-Set to BLOW

Debt Deal drives SPX higher ahead of NFP. NKY Futs +0.8% Cash; Foreigners bought Equities for 9th week; Panasonic sees EV battery Sales at 2.5tril...

Mark Chadwick

JPX Margin Trading Weekly (Aug 7th): Kioxia, Taiyo Yuden, Tokyo Electron, SoftBank, Toyota Motor

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), Taiyo Yuden (6976 JP), Tokyo Electron (8035...

Ke Yan, CFA, FRM

Good Morning Japan |VICTORY Declared as Bailouts Rule; NUGGET: ORIX-Riding the Zero-Carbon MegaTrend

Expect Japan Equities to start the road to recovery with macro fears subsiding; Japan-Korea move fwd on trade/security. NUGGET: Orix - as a...

Mark Chadwick

Good Morning Japan |Now Its Credit Suisse-Markets Rattled; NUGGET: Fuel for Japan's Defense Stocks

NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues. NUGGET:...

Mark Chadwick

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