Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>UK deal and anticipation of a positive outcome to China talks lifting positioning into risk assets.</li>
<li>Quantum computing names flying after D-wave numbers may lift Socionext.</li>
<li>Nintendo numbers obviously conservative, while Ibiden points to a bigger NVDA product mix + index upside.</li>
</ul>


UK deal and anticipation of a positive outcome to China talks lifting positioning into risk assets.
Quantum computing names flying after D-wave numbers may lift Socionext.
Nintendo numbers obviously conservative, while Ibiden points to a bigger NVDA product mix + index upside.


Japan Morning Connection: Market Risk on with Trump Telling Punters to Buy Ahead of W/E

<ul>
<li>NVDA possibly facing issues with its new chip, which may involve its Microsoft partnership.</li>
<li>Intel's 18A process is claiming solid performance and interest from likes of Broadcom.</li>
<li>Poor numbers from Hexel should add more downside pressure to JP CF makers.</li>
</ul>


NVDA possibly facing issues with its new chip, which may involve its Microsoft partnership.
Intel's 18A process is claiming solid performance and interest from likes of Broadcom.
Poor numbers from Hexel should add more downside pressure to JP CF makers.


Japan Morning Connection: US Markets Pushing Back on Trump-Powell Tensions

<ul>
<li>Watch Softbank after bullish comments from ARM that it expects 50% DC GPU market share this year.</li>
<li>Hegseth's Japan trip concludes with no demand for higher defense spending.</li>
<li>Shiseido was sharply higher yesterday after activist announces larger stake in an easy squeeze.</li>
</ul>


Watch Softbank after bullish comments from ARM that it expects 50% DC GPU market share this year.
Hegseth's Japan trip concludes with no demand for higher defense spending.
Shiseido was sharply higher yesterday after activist announces larger stake in an easy squeeze.


Japan Morning Connection: US Markets Well off the Lows Pointing to Better Start for JP

<ul>
<li>US rebound lacks breadth, and while tech should be strong to start it may be too early to predict an extended rally off the lows in Japan after yesterday's gains.</li>
<li>An SMCI after-market miss is dulling the mood which may also dent sentiment for AI/SPE related to start.</li>
<li>A good print from CAT sets a positive tone for the likes of 6301 Komatsu and 6326 Kubota who were both sold heavily in the recent panic.</li>
</ul>


US rebound lacks breadth, and while tech should be strong to start it may be too early to predict an extended rally off the lows in Japan after yesterday's gains.
An SMCI after-market miss is dulling the mood which may also dent sentiment for AI/SPE related to start.
A good print from CAT sets a positive tone for the likes of 6301 Komatsu and 6326 Kubota who were both sold heavily in the recent panic.


Japan Morning Connection: 6301 JP, 6326 JP, 2503 JP

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The review period for the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> September rebalance ended on 31 July. Nikkei has also confirmed <a href="https://www.smartkarma.com/entities/advantest-corp" target="_blank" data-smartkarma-citation="entities:18107:1" rel="noopener">Advantest Corp (6857 JP)</a>'s capping at the rebalance.</li>
<li>The newly created Information &amp; Communication sector is the most underweight while the Technology sector remains the most overweight. We could see some changes from these sectors.</li>
<li>The changes at the September rebalance will set the tone for future rebalances and sector balance is likely to play a large role moving forward.</li>
</ul>


The review period for the Nikkei 225 (NKY INDEX) September rebalance ended on 31 July. Nikkei has also confirmed Advantest Corp (6857 JP)'s capping at the rebalance.
The newly created Information &amp; Communication sector is the most underweight while the Technology sector remains the most overweight. We could see some changes from these sectors.
The changes at the September rebalance will set the tone for future rebalances and sector balance is likely to play a large role moving forward.


Nikkei 225 Index Rebalance Preview (Sep 2026): Potential Adds, Deletes, Capping & Other Changes

Japan

Teijin Ltd manufactures polyester and other fibers including nylon, acetate, aramid, and polyvinyl chloride for apparel and industrial materials.  Teijin also makes polyester films used in advanced magnetic media and electronics equipment through a joint venture with Dupont.  The Company also produces pharmaceuticals, medical products, and information system equipment.

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Teijin Ltd (3401 JP)

Japan Morning Connection: Market Risk on with Trump Telling Punters to Buy Ahead of W/E

Positioning into risk assets with UK deal and China talks, Socionext may benefit from D-wave numbers; may be opportunity to buy into the dip for...

Andrew Jackson

Japan Morning Connection: US Markets Pushing Back on Trump-Powell Tensions

Tech and AI fall further with NVDA facing issues with new chip, with Intel as a relative outperformer. Hexel's poor numbers impacting JP Carbon...

Andrew Jackson

Japan Morning Connection: US Markets Well off the Lows Pointing to Better Start for JP

Bullish comments from Arm should have positive for Softbank, Hegseth trip results in no demand for higher defense spending in Japan, Shiseido...

Andrew Jackson

Japan Morning Connection: 6301 JP, 6326 JP, 2503 JP

US rebound lacks breadth, tech may be strong but early to predict extended rally in Japan. SMCI after-market miss may dent sentiment, CAT's good...

Andrew Jackson

Nikkei 225 Index Rebalance Preview (Sep 2026): Potential Adds, Deletes, Capping & Other Changes

We forecast 3 changes for the NKY in Sep and highlight potential changes. The introduction of a new sector and a new rule changes things a bit and...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Market Risk on with Trump Telling Punters to Buy Ahead of W/E

Positioning into risk assets with ​UK deal and China talks, Socionext may benefit from D-wave numbers; may be opportunity to buy into the dip for...

Andrew Jackson

Japan Morning Connection: US Markets Pushing Back on Trump-Powell Tensions

​Tech and AI fall further with NVDA facing issues with new chip, with Intel as a relative outperformer. Hexel's poor numbers impacting JP Carbon...

Andrew Jackson

Japan Morning Connection: US Markets Well off the Lows Pointing to Better Start for JP

Bullish comments from Arm should have positive for Softbank, Hegseth trip results in no demand for higher defense spending in Japan, Shiseido...

Andrew Jackson

Japan Morning Connection: 6301 JP, 6326 JP, 2503 JP

​US rebound lacks breadth, tech may be strong but early to predict extended rally in Japan. SMCI after-market miss may dent sentiment, CAT's good...

Andrew Jackson

Nikkei 225 Index Rebalance Preview (Sep 2026): Potential Adds, Deletes, Capping & Other Changes

We forecast 3 changes for the NKY in Sep and highlight potential changes. The introduction of a new sector and a new rule changes things a bit and...

Brian Freitas

Positioning into risk assets with UK deal and China talks, Socionext may benefit from D-wave numbers; may be opportunity to buy into the dip for...

Tech and AI fall further with NVDA facing issues with new chip, with Intel as a relative outperformer. Hexel's poor numbers impacting JP Carbon...

US rebound lacks breadth, tech may be strong but early to predict extended rally in Japan. SMCI after-market miss may dent sentiment, CAT's good...