Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Huge +18% move for Sandisk will help Japan's memory complex leg higher.</li>
<li>Networking developer Ciena jumped 23% after blow-out numbers while Broadcom beats after-hours.</li>
<li>10-Year yield dropping below its recent supports helps home builders higher while Shin Etsu continues to underwhelm.</li>
</ul>


Huge +18% move for Sandisk will help Japan's memory complex leg higher.
Networking developer Ciena jumped 23% after blow-out numbers while Broadcom beats after-hours.
10-Year yield dropping below its recent supports helps home builders higher while Shin Etsu continues to underwhelm.


Japan Morning Connection: Tech Storms Higher on a Raft of Positive Earnings and Bullish NAND Outlook

<ul>
<li>Markets not liking the US revoking TSMC's China export waiver sending TSMC suppliers lower.</li>
<li>Memory continues to shine but there looks to be more upside for HDD component suppliers Hoya and Minebea.</li>
<li>New AI glasses from Samsung could reignite interest in Nikon if the technology comes back into focus.</li>
</ul>


Markets not liking the US revoking TSMC's China export waiver sending TSMC suppliers lower.
Memory continues to shine but there looks to be more upside for HDD component suppliers Hoya and Minebea.
New AI glasses from Samsung could reignite interest in Nikon if the technology comes back into focus.


Japan Morning Connection: Google Spared from Anti-Trust Break up Sends Stock up in Late Trading

<ul>
<li>Pure Storage surging 32% showcasing the growth potential for NAND as a viable and cost effective storage medium for AI/enterprise use. Watch Kioxia.</li>
<li>HP up but its printing business not so good -however this could be a 'bad is good' scenario for Japan's desperately in need of consolidation printer industry.</li>
<li>Marvell getting hit hard after-hours may see ASIC related Socionext trade lower.</li>
</ul>


Pure Storage surging 32% showcasing the growth potential for NAND as a viable and cost effective storage medium for AI/enterprise use. Watch Kioxia.
HP up but its printing business not so good -however this could be a 'bad is good' scenario for Japan's desperately in need of consolidation printer industry.
Marvell getting hit hard after-hours may see ASIC related Socionext trade lower.


Japan Morning Connection: Tech Shakes off Initial Weakness with Talks of Blackwell Sales to China

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

Foxconn Industrial Internet / Technical Analysis

<ul>
<li>We remain near-term bullish SPX and ACWI since 4/22/25, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>We discussed in our July 31, 2025 Int'l Compass how $128, $125-$126, and $123-$123.50 were short-term supports to watch on ACWI-US, and ACWI-US found support at $128 the next day.</li>
<li>Europe (EURO STOXX 50) is the last of the major countries (from a global market cap perspective) to break out; we expect it to be next</li>
</ul>


We remain near-term bullish SPX and ACWI since 4/22/25, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
We discussed in our July 31, 2025 Int'l Compass how $128, $125-$126, and $123-$123.50 were short-term supports to watch on ACWI-US, and ACWI-US found support at $128 the next day.
Europe (EURO STOXX 50) is the last of the major countries (from a global market cap perspective) to break out; we expect it to be next


Europe Next to Break Out?; Bullish Outlook Intact; Remain Overweight Korea, Greece, and the U.S.

<ul>
<li>Yields soared after the poor set of jobs data causing home builders to jump. Watch Sumitomo Forestry and Shin Etsu for upside.</li>
<li>TEL's poor look for WFE sends semi cap tumbling, although Lam Research up as it likely takes market share.</li>
<li>Eastman -19% on poor numbers reflecting DOW's woes the week before as tariffs pose significant headwinds for the chemicals industry.</li>
</ul>


Yields soared after the poor set of jobs data causing home builders to jump. Watch Sumitomo Forestry and Shin Etsu for upside.
TEL's poor look for WFE sends semi cap tumbling, although Lam Research up as it likely takes market share.
Eastman -19% on poor numbers reflecting DOW's woes the week before as tariffs pose significant headwinds for the chemicals industry.


Japan Morning Connection: US Lower After Trump Temper Tantrum over Jobs and Increased Tariffs

Japan

Socionext Inc. designs, develops, and provides SoC (system on chip) solutions and services. The Company offers digital broadcast demodulation solution, video interface conversion solution, imaging solution, engine and accelerator solution, industrial connected solution, and more. Socionext serves customers in consumer, automotive, industrial, and other fields.

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Socionext (6526 JP)

Japan Morning Connection: Tech Storms Higher on a Raft of Positive Earnings and Bullish NAND Outlook

Lynx equity strategies research sent NAND related higher in the US, watch JP memory names today. Drop in 10-year yield will help homebuilders....

Andrew Jackson

Japan Morning Connection: Google Spared from Anti-Trust Break up Sends Stock up in Late Trading

Optical tech related may see sentiment rise with AR/AI glasses market, HDD names have further to grow with storage demand for AI data centres.

Andrew Jackson

Japan Morning Connection: Tech Shakes off Initial Weakness with Talks of Blackwell Sales to China

Memory plays continue to trade well with strong growth outlook for NAND memory, watch Kioxia as a squeeze candidate. Dell down with numbers showing...

Andrew Jackson

Europe Next to Break Out?; Bullish Outlook Intact; Remain Overweight Korea, Greece, and the U.S.

Europe Next to Break Out?; China and Japan Remain Attractive and a big focus since our July 3rd report titled "China and Japan Breaking Out;"...

Vermilion Research

Japan Morning Connection: US Lower After Trump Temper Tantrum over Jobs and Increased Tariffs

Home builders pushed higher by treasuries and yields, poor numbers from TEL send SPE down, numbers from Eastman send chemical related lower.

Andrew Jackson

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