Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/rakuten-bank-ltd" target="_blank" data-smartkarma-citation="entities:35638:1" rel="noopener">Rakuten Bank (5838 JP)</a> deal is good for <a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten (4755 JP)</a> and <a href="https://www.smartkarma.com/entities/mizuho-financial-group-inc" target="_blank" data-smartkarma-citation="entities:219:1" rel="noopener">Mizuho Financial (8411 JP)</a>; bad for Bank shareholders. The favouritism is cleanly visible. This is a takeunder.</li>
<li>CSRC has approved <a href="https://www.smartkarma.com/entities/china-resources-power-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:5385:1" rel="noopener">China Resources Power (836 HK)</a>'s A-share listing of its renewable energy unit. Even assigning a large holding company discount, there is material upside to CRP's share price.</li>
<li>
<a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a> has a possible merger/arrangement on power semiconductors with Toshiba Storage and Device, and also with Mitsubishi Electric. That would be big.</li>
</ul>


The Rakuten Bank (5838 JP) deal is good for Rakuten (4755 JP) and Mizuho Financial (8411 JP); bad for Bank shareholders. The favouritism is cleanly visible. This is a takeunder.
CSRC has approved China Resources Power (836 HK)'s A-share listing of its renewable energy unit. Even assigning a large holding company discount, there is material upside to CRP's share price.

ROHM Co Ltd (6963 JP) has a possible merger/arrangement on power semiconductors with Toshiba Storage and Device, and also with Mitsubishi Electric. That would be big.


Last Week In Event SPACE: Rakuten Bank/ Rakuten, China Resources Power, ROHM Co Ltd (6963 JP)

<ul>
<li>On the 21st October 2025, as part of a US-Australia bilateral framework, Australia said it would provide a US$100mn equity investment in Gina Rinehart-backed <a href="https://www.smartkarma.com/entities/arafura-resources-ltd" target="_blank" data-smartkarma-citation="entities:16550:1" rel="noopener">Arafura (ARU AU)</a>'s Nolans project. </li>
<li>Arafura has now announced it will kickstart Nolan's development after the Aussie government confirmed "up to 500 tonnes p.a."  from the rare-earth project would be included in its strategic reserve.</li>
<li>The Aussie commitment represents 14% of Nolans' binding offtake target.</li>
</ul>


On the 21st October 2025, as part of a US-Australia bilateral framework, Australia said it would provide a US$100mn equity investment in Gina Rinehart-backed Arafura (ARU AU)'s Nolans project. 
Arafura has now announced it will kickstart Nolan's development after the Aussie government confirmed "up to 500 tonnes p.a."  from the rare-earth project would be included in its strategic reserve.
The Aussie commitment represents 14% of Nolans' binding offtake target.


Arafura Rare Earths (ARU AU): Canberra Helps Backstop Nolan's Offtake

<ul>
<li>If you like <a href="https://www.smartkarma.com/entities/toyota-industries-corp" target="_blank" data-smartkarma-citation="entities:4500:1" rel="noopener">Toyota Industries (6201 JP)</a>'s Appraisal Rights case, buy. If a LO investor who held until now and bullish the market, sell now and replace your beta.</li>
<li>Current NAV levels for <a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus NV (PRX NA)</a> are somewhat depressed. To a lesser extent, so is the implied stub (netting off the stake in <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>).</li>
<li>China has established itself as the global EVs benchmark. But  expect increased competition, overcapacity, and in turn, profit squeeze. <a href="https://www.smartkarma.com/entities/dongfeng-motor-group-co-ltd-h" target="_blank" data-smartkarma-citation="entities:910:1" rel="noopener">Dongfeng Motor (489 HK)</a>is trading full ahead of VOYAH's spin-off.</li>
</ul>


If you like Toyota Industries (6201 JP)'s Appraisal Rights case, buy. If a LO investor who held until now and bullish the market, sell now and replace your beta.
Current NAV levels for Prosus NV (PRX NA) are somewhat depressed. To a lesser extent, so is the implied stub (netting off the stake in Tencent (700 HK)).
China has established itself as the global EVs benchmark. But  expect increased competition, overcapacity, and in turn, profit squeeze. Dongfeng Motor (489 HK)is trading full ahead of VOYAH's spin-off.


Last Week In Event SPACE: Toyota Inds., Prosus/Tencent, Dongfeng Motor, WH Group

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 short interest of ASX Stocks as of Nov 7th (reported today). The aggregated short interest was USD26.6bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in James Hardie Industries, Resmed Inc DRC, Charter Hall, Steadfast, Dexus Property.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Nov 7th (reported today). The aggregated short interest was USD26.6bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in James Hardie Industries, Resmed Inc DRC, Charter Hall, Steadfast, Dexus Property.


ASX Short Interest Weekly (Nov 7th): James Hardie Industries, Resmed Inc DRC, Charter Hall

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 31st (reported today). The aggregated short interest was USD27.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in CSL, Mineral Resources, Bluescope Steel, ALS, Vicinity Centres Re.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 31st (reported today). The aggregated short interest was USD27.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in CSL, Mineral Resources, Bluescope Steel, ALS, Vicinity Centres Re.


ASX Short Interest Weekly (Oct 31st): CSL, Mineral Resources, Bluescope Steel, ALS

Australia

Northern Minerals Limited is a mineral exploration company. The Company is primarily focused on Uranium and Rare Earth exploration and development in Western Australia and the Northern Territory.

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Northern Minerals (NTU AU)

Last Week In Event SPACE: Rakuten Bank/ Rakuten, China Resources Power, ROHM Co Ltd (6963 JP)

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Arafura Rare Earths (ARU AU): Canberra Helps Backstop Nolan's Offtake

Arafura is a poster-child for Aussie rare earth plays. It is also up 82% in the last 12 months. If seeking (additional/new) rare earth exposure...

David Blennerhassett

Last Week In Event SPACE: Toyota Inds., Prosus/Tencent, Dongfeng Motor, WH Group

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

ASX Short Interest Weekly (Nov 7th): James Hardie Industries, Resmed Inc DRC, Charter Hall

We analyzed ASX short interest report for the past week and highlight short interest changes in James Hardie Industries, Resmed Inc DRC, Charter...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Oct 31st): CSL, Mineral Resources, Bluescope Steel, ALS

We analyzed ASX short interest report for the past week and highlight short interest changes in CSL, Mineral Resources, Bluescope Steel, ALS,...

Ke Yan, CFA, FRM

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