Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yokogawa-electric-corp" target="_blank" data-smartkarma-citation="entities:12795:1" rel="noopener">Yokogawa Electric (6841 JP) </a>management has launched several initiatives that have improved operating results and increased the share price. </li>
<li>It counts <a href="https://www.smartkarma.com/entities/saudi-aramco" target="_blank" data-smartkarma-citation="entities:27317:1" rel="noopener">Saudi Aramco (ARAMCO AB)</a> , <a href="https://www.smartkarma.com/entities/shell-plc" target="_blank" data-smartkarma-citation="entities:22108:1" rel="noopener">Shell (SHEL LN)</a> and <a href="https://www.smartkarma.com/entities/bp-plc-sponsored-adr" target="_blank" data-smartkarma-citation="entities:27921:1" rel="noopener">BP (BP US)</a> as customers, among others. </li>
<li>As the company ramps up its digital business, its margin will improve even more and will trade closer to parity with its counterparts such as <a href="https://www.smartkarma.com/entities/honeywell-international-inc" target="_blank" data-smartkarma-citation="entities:16765:1" rel="noopener">Honeywell International (HON US)</a> .</li>
</ul>



Yokogawa Electric (6841 JP) management has launched several initiatives that have improved operating results and increased the share price. 
It counts Saudi Aramco (ARAMCO AB) , Shell (SHEL LN) and BP (BP US) as customers, among others. 
As the company ramps up its digital business, its margin will improve even more and will trade closer to parity with its counterparts such as Honeywell International (HON US) .


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

Event-Driven

<ul>
<li>There are 14 Japanese stocks at risk of being deleted from global passive portfolios in February. The number will be smaller depending on the day of the review period chosen.</li>
<li>Selling from passive trackers will range from US$176m-354m and the impact ranges from 3.1-18.4 days of ADV. Short interest has increased in nearly all stocks over the last 4 weeks.</li>
<li>The forecast deletes have underperformed the <a href="https://www.smartkarma.com/entities/tokyo-stock-exchange-tokyo-price-index-topix" target="_blank" data-smartkarma-citation="entities:22910:1" rel="noopener">TSE Tokyo Price Index TOPIX</a> on average over the last 1-3 months, while there has been marginal outperformance over the last week or two.</li>
</ul>


There are 14 Japanese stocks at risk of being deleted from global passive portfolios in February. The number will be smaller depending on the day of the review period chosen.
Selling from passive trackers will range from US$176m-354m and the impact ranges from 3.1-18.4 days of ADV. Short interest has increased in nearly all stocks over the last 4 weeks.
The forecast deletes have underperformed the TSE Tokyo Price Index TOPIX on average over the last 1-3 months, while there has been marginal outperformance over the last week or two.


Japan: Last Look at Potential Passive Selling in February

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>Increasing Nuclear energy use is a key platform for PM Takaichi</li>
<li>Recent geopolitical events will likely accelerate this push for energy security</li>
<li>We introduce a basket of stocks to benefit from this theme</li>
</ul>


Increasing Nuclear energy use is a key platform for PM Takaichi
Recent geopolitical events will likely accelerate this push for energy security
We introduce a basket of stocks to benefit from this theme


Critical Mass - Japan's Nuclear Renaissance and the Supply Chain Stocks to Play It.

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>Disco, Kokusai and Softbank among the biggest tech laggards set to scramble higher on ceasefire news.</li>
<li>Intel joining Musk's Terafab and generating interest from Google and Amazon a positive for the main Intel suppliers such as Lasertec and Ibiden.</li>
<li>Defensive outperformers set to lose their recent upside momentum on the risk-on shift.</li>
</ul>


Disco, Kokusai and Softbank among the biggest tech laggards set to scramble higher on ceasefire news.
Intel joining Musk's Terafab and generating interest from Google and Amazon a positive for the main Intel suppliers such as Lasertec and Ibiden.
Defensive outperformers set to lose their recent upside momentum on the risk-on shift.


Japan Morning Connection: Ceasefire Set to Send Tech and AI Laggards Surging Higher

<ul>
<li>Markets liking the EU pledges to buy US energy products and military equipment as part of recent deal.</li>
<li>Power-Semi related higher with TXN buoyed by call that multi-year inventory correction is almost over.</li>
<li>Tesla emerges as Samsung's mystery fab customer, is a dramatic turn around for their recently ailing foundry business.</li>
</ul>


Markets liking the EU pledges to buy US energy products and military equipment as part of recent deal.
Power-Semi related higher with TXN buoyed by call that multi-year inventory correction is almost over.
Tesla emerges as Samsung's mystery fab customer, is a dramatic turn around for their recently ailing foundry business.


Japan Morning Connection: Energy Related and Tech Strong Pointing to a Good Start for Japan

Japan

YOKOGAWA ELECTRIC CORPORATION develops, manufactures, and markets information technology (IT) solutions, measuring and control equipment, semiconductors, and electronic components.  The Company's products include IT controllers, flowmeters, pressure transmitters, analyzers, data recorder, switching power supplies, and AC (alternating current) adaptors.

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Yokogawa Electric (6841 JP)

Yokogawa Electric (6841): Catch Up

Yokogawa Electric's management has ramped up its digitalization initiatives that should improve OPM closer to 15% and therefore should see its...

Henry Soediarko

Japan: Last Look at Potential Passive Selling in February

Tomorrow is going to be a huge volume day in Japan as the global index rebalances. Kokusai Electric has bounced as expected and there could be more...

Brian Freitas

Critical Mass - Japan's Nuclear Renaissance and the Supply Chain Stocks to Play It.

Many nuclear supply chain stocks limit up yesterday based on Kyodo news report that the 3rd tranche of the $550bn Japan–US investment package is...

Rikki Malik

Japan Morning Connection: Ceasefire Set to Send Tech and AI Laggards Surging Higher

A 2-week ceasefire has been agreed, subject to the straits being reopened, sending oil sharply lower and futures sharply higher. Will be a more...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Yokogawa Electric (6841): Catch Up

Yokogawa Electric's management has ramped up its digitalization initiatives that should improve OPM closer to 15% and therefore should see its...

Henry Soediarko

Japan: Last Look at Potential Passive Selling in February

Tomorrow is going to be a huge volume day in Japan as the global index rebalances. Kokusai Electric has bounced as expected and there could be more...

Brian Freitas

Critical Mass - Japan's Nuclear Renaissance and the Supply Chain Stocks to Play It.

Many nuclear supply chain stocks limit up yesterday based on Kyodo news report that the 3rd tranche of the $550bn Japan–US investment package is...

Rikki Malik

Japan Morning Connection: Ceasefire Set to Send Tech and AI Laggards Surging Higher

A 2-week ceasefire has been agreed, subject to the straits being reopened, sending oil sharply lower and futures sharply higher. Will be a more...

Andrew Jackson

Japan Morning Connection: Energy Related and Tech Strong Pointing to a Good Start for Japan

Energy related up as EU announces they will be purchasing US fuels, US pausing new restrictions on tech exports to China, Tesla's partnership with...

Andrew Jackson