Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS: SPX +0.4%DoD +2.7%WoW; Semi run continues with SOX +0.4%DoD +6.2%WoW; Beta and Growth the big WoW winners;  Fed's Bostic leans to 25bp hike; Tesla cuts prices</li>
<li>JAPAN:  NKY Futs -1.3% vs Cash;  JGB 10Yr Yld hits 0.512% despite BOJ 10trn yen buying; USDJPY up to127.87;  DECARBONIZATION: Resonac (Showa Denko) expansion; Toray  expansion; METI CCS roadmap</li>
<li>DAILY NUGGET: Slowing EV sales in China ? Maybe, but its still the largest EV market in the world. We see Nidec as the best way to play.</li>
</ul>


OVERSEAS: SPX +0.4%DoD +2.7%WoW; Semi run continues with SOX +0.4%DoD +6.2%WoW; Beta and Growth the big WoW winners;  Fed's Bostic leans to 25bp hike; Tesla cuts prices
JAPAN:  NKY Futs -1.3% vs Cash;  JGB 10Yr Yld hits 0.512% despite BOJ 10trn yen buying; USDJPY up to127.87;  DECARBONIZATION: Resonac (Showa Denko) expansion; Toray  expansion; METI CCS roadmap
DAILY NUGGET: Slowing EV sales in China ? Maybe, but its still the largest EV market in the world. We see Nidec as the best way to play.


Good Morning Japan |Fed 1 Inflation 0, Fed Wins; Equity Bid Continues; Telsa Cuts Px; BOJ in Focus

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC's revenue could drop in the near-term due to customers cutting orders, however full year 2023E growth still likely thanks to advanced chips.</li>
<li>Samsung has guided staff internally for a major slump in its semiconductor unit's operating profit.</li>
<li>Apple is pushing for price cuts amongst its suppliers due to weak end demand for its products.</li>
</ul>


TSMC's revenue could drop in the near-term due to customers cutting orders, however full year 2023E growth still likely thanks to advanced chips.
Samsung has guided staff internally for a major slump in its semiconductor unit's operating profit.
Apple is pushing for price cuts amongst its suppliers due to weak end demand for its products.


Taiwan Tech Weekly: Signs TSMC Winning the 3-Nm Battle Vs. Samsung, Apple Bargaining Down Suppliers

Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

Credit

<ul>
<li>I've long warned 2H this year will mark passing of Tesla's dominance—mainly because the larger EV market is catching up and doing EV better. </li>
<li>Fading China sales &amp; Elon's Twitter mess has been taking it down even faster.</li>
<li>Q4 deliveries are due out next week, and they're likely to be ugly.</li>
</ul>


I've long warned 2H this year will mark passing of Tesla's dominance—mainly because the larger EV market is catching up and doing EV better. 
Fading China sales &amp; Elon's Twitter mess has been taking it down even faster.
Q4 deliveries are due out next week, and they're likely to be ugly.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vinfast" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">VinFast (1905332D VN)</a>  is looking to raise up to US$1bn in its upcoming US IPO.</li>
<li>VinFast is a full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters and electric buses.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



VinFast (1905332D VN)  is looking to raise up to US$1bn in its upcoming US IPO.
VinFast is a full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters and electric buses.
In this note, we talk about the not-so-positive aspects of the deal.


VinFast Auto Pre-IPO - The Negatives - ... But Starting Low

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vinfast" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">VinFast Auto (1905332D VN)</a>  is looking to raise up to US$1bn in its upcoming US IPO.</li>
<li>VinFast is a full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters and electric buses.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



VinFast Auto (1905332D VN)  is looking to raise up to US$1bn in its upcoming US IPO.
VinFast is a full-scale mobility platform focused primarily on designing and manufacturing premium EVs, electric scooters and electric buses.
In this note, we talk about the positive aspects of the deal.


VinFast Auto Pre-IPO - The Positives - Aiming High...

Japan

Toyota Motor Corporation manufactures, sells, leases, and repairs passenger cars, trucks, buses, and their related parts worldwide. The Company also operates financing services through their subsidiaries. Toyota Motor builds homes, produces pleasure boats, and develops intelligent transportation systems including radar cruise control and electronic toll collection systems.

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Toyota Motor Corp Spon Adr (TM US)

Good Morning Japan |Fed 1 Inflation 0, Fed Wins; Equity Bid Continues; Telsa Cuts Px; BOJ in Focus

Fed 1 Inflation 0, Fed Wins; Equity Bid Continues; Telsa Cuts Px (positive Panasonic); BOJ in Focus. Expect the BOJ to lift JGB buying and do what...

Mark Chadwick

Taiwan Tech Weekly: Signs TSMC Winning the 3-Nm Battle Vs. Samsung, Apple Bargaining Down Suppliers

TSMC's revenue could drop in the near-term due to customers cutting orders, however full year 2023E growth still likely thanks to advanced chips.

Vincent Fernando, CFA

Tesla Q4: Elon's Burning It All Down

I've long warned 2H this year will mark passing of Tesla's dominance—mainly cuz larger EV mkt is catching up & doing EV better. Fading China sales...

Vicki Bryan

VinFast Auto Pre-IPO - The Negatives - ... But Starting Low

VinFast is looking to raise up to US$1bn in its upcoming US IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

VinFast Auto Pre-IPO - The Positives - Aiming High...

VinFast Auto (1905332D VN) is looking to raise up to US$1bn in its upcoming US IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

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