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

DZT Research

DZT 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 Jun 12th. The aggregated net margin trading position is USD29,582m.</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, Disco, Advantest, Lasertec, Skylark, Murata Manufacturing, Iida, JX Advanced Metals, Hitachi, McDonald's.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jun 12th. The aggregated net margin trading position is USD29,582m.
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, Disco, Advantest, Lasertec, Skylark, Murata Manufacturing, Iida, JX Advanced Metals, Hitachi, McDonald's.


JPX Margin Trading Weekly (Jun 12th): Kioxia, Disco, Advantest, Lasertec, Skylark, Iida, Hitachi

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>GE Vernova participates across the electricity value chain and is one of only three companies capable of manufacturing large-scale gas turbines.</li>
<li>Beyond turbines, GE Vernova is benefiting from rising demand for grid equipment, allowing it to participate in both electricity generation and delivery.</li>
<li>Despite strong fundamentals, the stock's recent correction highlights that elevated expectations can create valuation risk even for high-quality businesses.</li>
</ul>


GE Vernova participates across the electricity value chain and is one of only three companies capable of manufacturing large-scale gas turbines.
Beyond turbines, GE Vernova is benefiting from rising demand for grid equipment, allowing it to participate in both electricity generation and delivery.
Despite strong fundamentals, the stock's recent correction highlights that elevated expectations can create valuation risk even for high-quality businesses.


From Turbines to Transformers: The GE Vernova AI Thesis

'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

ja research

ja research is an independent research platform focused exclusively on Japanese equities. Leveraging data and graphic analysis provided by Japan Analytics, we provide insights on small and medium-sized companies that have been ignored by the sell-side as well as challenging conventional wisdom on larger companies. We also offer analyst and corporate access, the latter with translation if required. 

Thematic (Sector/Industry)

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/116/740/original/2020-02-07_03-39-22.png?1581019080" class="editor-image img-responsive" data-smartkarma-image-id="116740"></figure><div class="content-caption">Source • Japan Analytics</div>INTO THE 'RED' - As predicted, our Results Score dipped into negative territory yesterday, declining by 56 basis points to -0.21. Of the 65 large-cap results, only ten companies had positive qoq changes in Results Score, while seventeen saw double-digit declines. <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP)</a> did well to limit its quarterly year-on-year changes in Revenue and OP to -3%, and they are forecasting similar declines against TTM numbers for the full year. The Forecast/Revision Score added six basis points driven primarily by <a href="https://www.smartkarma.com/entities/shiseido-co-ltd" target="_blank" data-smartkarma-citation="entities:5718:1" rel="noopener">Shiseido (4911 JP)</a> overly optimistic initial forecast for FY2020. 'Mr Market' meanwhile is content to bid up share prices to close to the recent highs, and 8% below the January 2018 peak, when the Results Score was 7.54. <hr>• SECTOR TIMELINE •<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/116/741/original/2020-02-07_03-45-05.png?1581019946" class="editor-image img-responsive" data-smartkarma-image-id="116741"></figure><div class="content-caption">Source • Japan Analytics</div>SECTOR TIMELINE - The majority of Sectors saw lower Results &amp; Revision Scores yesterday, with Food, Beverages &amp; Tobacco being the exception due to <a href="https://www.smartkarma.com/entities/japan-tobacco-inc" target="_blank" data-smartkarma-citation="entities:13498:1" rel="noopener">Japan Tobacco (2914 JP)</a>'s stable topline performance and better-than-expected 2020 forecast. <a href="https://www.smartkarma.com/entities/mitsubishi-heavy-industries" target="_blank" data-smartkarma-citation="entities:13613:1" rel="noopener">Mitsubishi Heavy Industries (7011 JP)</a> decline into the red at the OP level and full-year downward revision took the Machinery Sector lower, while <a href="https://www.smartkarma.com/entities/seibu-holdings-inc" target="_blank" data-smartkarma-citation="entities:458:1" rel="noopener">Seibu (9024 JP)</a> was the negative driver for Multi-Industry. <a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo (4543 JP)</a> and <a href="https://www.smartkarma.com/entities/olympus-corp" target="_blank" data-smartkarma-citation="entities:356:1" rel="noopener">Olympus (7733 JP)</a> fuelled the decline in Healthcare and <a href="https://www.smartkarma.com/entities/fujifilm-holdings-corp" target="_blank" data-smartkarma-citation="entities:16353:1" rel="noopener">Fujifilm (4901 JP)</a> did the same for Technology Hardware.

Source • Japan AnalyticsINTO THE 'RED' - As predicted, our Results Score dipped into negative territory yesterday, declining by 56 basis points to -0.21. Of the 65 large-cap results, only ten companies had positive qoq changes in Results Score, while seventeen saw double-digit declines. Toyota Motor (7203 JP) did well to limit its quarterly year-on-year changes in Revenue and OP to -3%, and they are forecasting similar declines against TTM numbers for the full year. The Forecast/Revision Score added six basis points driven primarily by Shiseido (4911 JP) overly optimistic initial forecast for FY2020. 'Mr Market' meanwhile is content to bid up share prices to close to the recent highs, and 8% below the January 2018 peak, when the Results Score was 7.54. • SECTOR TIMELINE •Source • Japan AnalyticsSECTOR TIMELINE - The majority of Sectors saw lower Results &amp; Revision Scores yesterday, with Food, Beverages &amp; Tobacco being the exception due to Japan Tobacco (2914 JP)'s stable topline performance and better-than-expected 2020 forecast. Mitsubishi Heavy Industries (7011 JP) decline into the red at the OP level and full-year downward revision took the Machinery Sector lower, while Seibu (9024 JP) was the negative driver for Multi-Industry. Terumo (4543 JP) and Olympus (7733 JP) fuelled the decline in Healthcare and Fujifilm (4901 JP) did the same for Technology Hardware. 

🇯🇵 JAPAN • Results & Revisions Daily Roundup - 6th February ▲ 2914 4911 6406 ▼ 9024 4901 7951

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jun 5th. The aggregated net margin trading position is USD32,394m.</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, SoftBank, Disco, Ibiden, Mitsubishi UFJ Financial, Fast Retailing, Lasertec, Mitsui Mining &amp; Smelting, Sumitomo Mitsui Financial, Toyota Motor.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jun 5th. The aggregated net margin trading position is USD32,394m.
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, SoftBank, Disco, Ibiden, Mitsubishi UFJ Financial, Fast Retailing, Lasertec, Mitsui Mining &amp; Smelting, Sumitomo Mitsui Financial, Toyota Motor.


JPX Margin Trading Weekly (Jun 5th): Kioxia, SoftBank, Disco, Ibiden, Mitsubishi UFJ Financial

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

we believe global equities remain in a state of purgatory and consolidation is likely to continue as several major indexes approach logical resistance... see charts below and page 2. With global equity markets generally moving sideways, we want to stick with themes that are working -- we highlight actionable ideas in the following areas: Australian Banks, European/UK Banks and Autos &amp; Parts, Global Health Care stocks, and Japanese Manufacturing stocks.

we believe global equities remain in a state of purgatory and consolidation is likely to continue as several major indexes approach logical resistance... see charts below and page 2. With global equity markets generally moving sideways, we want to stick with themes that are working -- we highlight actionable ideas in the following areas: Australian Banks, European/UK Banks and Autos &amp; Parts, Global Health Care stocks, and Japanese Manufacturing stocks.

Global Equities Nearing Potential Resistance

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.

Price Gauge
52-week Range	0.00 - 0.00
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P/E	0.00
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Mitsubishi Heavy Industries (7011 JP)

JPX Margin Trading Weekly (Jun 12th): Kioxia, Disco, Advantest, Lasertec, Skylark, Iida, Hitachi

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia, Disco, Advantest, Lasertec, Skylark, Murata...

Ke Yan, CFA, FRM

From Turbines to Transformers: The GE Vernova AI Thesis

GE Vernova is a key player in the electricity value chain. It is benefiting from the demand for grid equipment. Still, a recent stock correction...

Mint Finance

🇯🇵 JAPAN • Results & Revisions Daily Roundup - 6th February ▲ 2914 4911 6406 ▼ 9024 4901 7951

INTO THE 'RED' - As predicted, our Results Score dipped into negative territory yesterday, declining by 56 basis points to -0.21. Of the 65...

Campbell Gunn

JPX Margin Trading Weekly (Jun 5th): Kioxia, SoftBank, Disco, Ibiden, Mitsubishi UFJ Financial

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), SoftBank (9984 JP), Disco (6146 JP), Ibiden...

Ke Yan, CFA, FRM

Global Equities Nearing Potential Resistance

we believe global equities remain in a state of purgatory and consolidation is likely to continue as several major indexes approach logical...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JPX Margin Trading Weekly (Jun 12th): Kioxia, Disco, Advantest, Lasertec, Skylark, Iida, Hitachi

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia, Disco, Advantest, Lasertec, Skylark, Murata...

Ke Yan, CFA, FRM

From Turbines to Transformers: The GE Vernova AI Thesis

​GE Vernova is a key player in the electricity value chain. It is benefiting from the demand for grid equipment. Still, a recent stock correction...

Mint Finance

🇯🇵 JAPAN • Results & Revisions Daily Roundup - 6th February ▲ 2914 4911 6406 ▼ 9024 4901 7951

INTO THE 'RED' - As predicted, our Results Score dipped into negative territory yesterday, declining by 56 basis points to -0.21. Of the 65...

Campbell Gunn

JPX Margin Trading Weekly (Jun 5th): Kioxia, SoftBank, Disco, Ibiden, Mitsubishi UFJ Financial

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), SoftBank (9984 JP), Disco (6146 JP), Ibiden...

Ke Yan, CFA, FRM

Global Equities Nearing Potential Resistance

we believe global equities remain in a state of purgatory and consolidation is likely to continue as several major indexes approach logical...

Vermilion Research

GE Vernova is a key player in the electricity value chain. It is benefiting from the demand for grid equipment. Still, a recent stock correction...