Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Brent surged after Khamenei vowed to open new fronts and keep the Straits closed, with numerous vessels hit.</li>
<li>Memory takes a breather after three days of gains with Kioxia likely finally in for a down day.</li>
<li>Astroscale likely a buy on the open after signing a launch agreement with German space company Isari .</li>
</ul>


Brent surged after Khamenei vowed to open new fronts and keep the Straits closed, with numerous vessels hit.
Memory takes a breather after three days of gains with Kioxia likely finally in for a down day.
Astroscale likely a buy on the open after signing a launch agreement with German space company Isari .


Japan Morning Connection: Trump's 'Very Complete' War Rages On as Khamenei Vows to Open New Fronts

<ul>
<li>Oracle +10% AH after numbers showed strong gains for their Infra business and disciplined capex spending.</li>
<li>AT&amp;T looking to spend $250bn over 5-years to modernize networks will help the wire and cable plays.</li>
<li>The US running through its supplies of ordinance should help Japan's mainstay missile developers such as MHI.</li>
</ul>


Oracle +10% AH after numbers showed strong gains for their Infra business and disciplined capex spending.
AT&amp;T looking to spend $250bn over 5-years to modernize networks will help the wire and cable plays.
The US running through its supplies of ordinance should help Japan's mainstay missile developers such as MHI.


Japan Morning Connection: Markets Finished Well off Their Highs Given Mixed Signals from the WH

<ul>
<li>News that chipmakers plan to relax the standard that determines the thickness of next-gen 20-layer HBM4 memory chips sent hybrid-bonding play BESI -17%.</li>
<li>This sent Teradyne -10.6%, Lam Research -7.2%, and AMAT -6.3%, and while the impact is more nuanced in Japan it will be indiscriminate risk-off across SPE to start.</li>
<li>Software bounced so this may see a defense bid, and I would be looking to be long JP utilities with nuclear restarts vs those still dependent on oil/gas fired plants.</li>
</ul>


News that chipmakers plan to relax the standard that determines the thickness of next-gen 20-layer HBM4 memory chips sent hybrid-bonding play BESI -17%.
This sent Teradyne -10.6%, Lam Research -7.2%, and AMAT -6.3%, and while the impact is more nuanced in Japan it will be indiscriminate risk-off across SPE to start.
Software bounced so this may see a defense bid, and I would be looking to be long JP utilities with nuclear restarts vs those still dependent on oil/gas fired plants.


Japan Morning Connection: Brent Surges as Mojtaba Khamenei Is Voted in as Iran's Next Supreme Leader

<ul>
<li>NVDA investment in Lumentum and Coherent increases the focus on optical over copper connectivity technologies.</li>
<li>Shipper strength on the prospect for higher rates should continue to be reflected in Japan names.</li>
<li>Defense names were obviously strong following gains in Asia yesterday, but geospatial imaging names lead the way.</li>
</ul>


NVDA investment in Lumentum and Coherent increases the focus on optical over copper connectivity technologies.
Shipper strength on the prospect for higher rates should continue to be reflected in Japan names.
Defense names were obviously strong following gains in Asia yesterday, but geospatial imaging names lead the way.


Japan Morning Connection: Markets Firm in the Face of War with Momentum and Growth Outperforming

<ul>
<li>Watch refiners, shippers, and heavies for upside vs weakness for airlines and companies with shipping exposure to EU.</li>
<li>This rotation could be short lived given the very one-sided outcome of the conflict so far, so expect volatility.</li>
<li>Precious metals and oil are already starting to pare early gains this morning which may be indicative of the longevity of some of these moves.</li>
</ul>


Watch refiners, shippers, and heavies for upside vs weakness for airlines and companies with shipping exposure to EU.
This rotation could be short lived given the very one-sided outcome of the conflict so far, so expect volatility.
Precious metals and oil are already starting to pare early gains this morning which may be indicative of the longevity of some of these moves.


Japan Morning Connection: Japan Set for Short-Term Rotation Away from Tech After Attacks on Iran

Japan

NEC Corporation manufactures and markets computers, telecommunication equipment, electronic devices, semiconductors, and software.  The Company's products include printers, modems, cellular phones, plasma display panels (PDP), network systems, memory, integrated circuits (IC), thin film transistor-liquid crystal display (TFT-LCD), and printed circuit boards (PCB). NEC operates worldwide.

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

NEC Corp (6701 JP)

Japan Morning Connection: Trump's 'Very Complete' War Rages On as Khamenei Vows to Open New Fronts

Markets closed at session lows as tech and AI were sold off, with rising oil prices adding to the pressure heading into Japan's open.

Andrew Jackson

Japan Morning Connection: Markets Finished Well off Their Highs Given Mixed Signals from the WH

Markets finished well off their highs given mixed signals from the WH, but managed to hold small gains. Tech and AI performed best amidst the...

Andrew Jackson

Japan Morning Connection: Brent Surges as Mojtaba Khamenei Is Voted in as Iran's Next Supreme Leader

Brent surges as high as $111 this morning as hardliner Mojtaba Khamenei in voted in as Iran's next supreme leader. After the dust settles SPE will...

Andrew Jackson

Japan Morning Connection: Markets Firm in the Face of War with Momentum and Growth Outperforming

Markets were surprisingly calm overnight with tech and AI hardly skipping a beat in the face of war in Iran. Airlines were lower with dented demand...

Andrew Jackson

Japan Morning Connection: Japan Set for Short-Term Rotation Away from Tech After Attacks on Iran

Expect a fairly sharp rotation away from tech and AI into defense and defensives names in Japan today. JP defense names are all trading close to...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)