Renesas Electronics Placement - Well Flagged US$1.8bn Deal, Accelerated but Index Flows Should Help
INCJ aims to raise around US$1.8bn via a secondary sell-down in Renesas Electronics (6723 JP). This will be a clean-up trade as INCJ has been...
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Q2'23 Silicon Wafer Shipments +2% QoQ
Q2’23 silicon wafer shipments of 3,331 MSI, + 2.0% QoQ, -10% YoY. Inventory levels at record highs. We see ~14% overcapacity in 2023 with return...
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Ohayo Japan|Equities Cruise on No Recession Narrative; NUGGET: JAL(9201) A Double Winner
SPX hit 52W highs as no recession/inflation behind us narrative dominates; NKY Futures -0.2% vs Cash; USDJPY 138.7%; Japan to lower US rates,...
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Ohayo Japan| Fed Rate Hike End in Sight; NUGGET: More Women on Boards = Higher Valuations?
SPX gains as end of Fed hike cycle in sight; NKY Futs +0.4% vs Cash; USJPY 141.3; "New" NISA eligible funds expand; JP investors buy record...
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Socionext Placement - Valuation More Reasonable but past Secondary Offerings Have a Mixed Record
Three shareholders of Socionext (6526 JP) aim to raise around US$1.4bn via selling all of their shares in Socionext. In this note, we look at the...
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