Thematic (Sector/Industry)

US stocks rebounded, with the Nasdaq up 1.4%, as softer inflation and lower jobless claims boosted risk appetite and reinforced expectations for lower interest rates in 2026.
Micron surged 10% after issuing an upbeat revenue outlook, helping revive the artificial intelligence trade after recent weakness.
Asahi shares fell 6% after a $3bn Diageo Africa deal, with investors worried about overpayment and leverage concerns, despite attractive growth, margins and long-term strategic benefits.

Overview of My Winners and Losers in 2025…and 5 High Conviction Ideas Going Into 2026

By Nicolas Van Broekhoven

The 2025 vintage of “5 High Conviction Ideas” showed a positive return for all five picks.
Our best performer was Arras Minerals (ARK CN), which was up +150%, closely followed by Solaris Resources (SLS CN), which gained 139% for the year.
Our 2025 vintage was heavily copper-focused, our 2026 new favorite list is more diverse across sectors and regions.

India’s Kavach 4.0: The ₹50,000 Crore Safety Boom Enters High-Gear

Indian Railways has officially commissioned the upgraded Kavach 4.0 on 738 route km, featuring advanced location accuracy and direct integration with modern electronic interlocking systems.
His rollout enables safe 160 kmph operations on high-density corridors while standardizing the technology required to cover India’s entire 68,000 km rail network by 2030.
The shift to Version 4.0 has consolidated the market, creating a massive revenue visibility of INR 50,000 crore for certified leaders like HBL Engineering and Kernex Microsystems.

Asia Real Estate Tracker (18-Dec-2025): Tokyo, Yokohama acquire over 1,000 homes by 2025.

Tokyo and Yokohama are planning to acquire more than 1,000 homes by the year 2025, indicating a major investment in the residential real estate market.
Acrophyte is set to purchase the management company of Suntec REIT from ESR for a substantial sum of $147 million, highlighting ongoing activity in the real estate sector.
The 12th Asia Property Awards celebrated significant achievements in real estate, recognizing key contributors and innovators in the Greater China region.

PSU Banks Vs Private Banks: Who Is Winning?

Private Banks captured market share as PSUs lose 300 bps to their private peers on deposits side.
Public Banks lead the high-value loan sprint, growing at 15% yoy versus Private Banks’ slower 5%.
The fight for funding is critical, highlighted by Public Banks’ higher reliance on households at 70%.

SEBI MF Regulations 2026: Expectations Vs. Reality

The market witnessed a relief rally after SEBI’s December 17 verdict, ending months of uncertainty regarding mutual fund fee structures,.
Unlike the harsh cuts expected, SEBI excluded taxes from expense limits and retained research bundling, protecting the industry’s core margins.
With regulatory risks now priced in, the market focus returns to fundamentals, although persistent foreign investor outflows remain a challenge.

China & HK Industrials: EM’s Key Overweight Grows Stronger

By Steven Holden

Active conviction rising: China Industrials allocations are nearing all-time highs, with record participation and expanding net overweights despite a declining MSCI EM benchmark weight.
Clear conviction overweight: 76% of GEM funds are overweight China & HK Industrials, making it the strongest country/sector conviction play across the EM universe.
Broadening beyond CATL: While CATL remains dominant, ownership is widening to emerging names, even as second-tier stocks show sharper rotations and selective positioning.

Tech Supply Chain Tracker (19-Dec-2025): Amazon Unifies AGI, Silicon, and Quantum Projects

By Tech Supply Chain Tracker

Amazon has unified its AGI, silicon, and quantum projects under Peter DeSantis to enhance innovation.
Taiwan’s PCB industry is thriving, with an expected 11% growth in 2025 due to AI server demand.
Google’s TorchTPU project aims to improve TPUs’ compatibility with PyTorch, boosting AI development.

Exencial Industry Tidings 18/12/2025

Centre urged to increase procurement of parboiled rice from Odisha to 2.5 MMT
Tata Sons invests additional Rs.15 billion in its electronics business
Tractor exports rebound, set to cross 100,000 units in 2025

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Dec 18

Daily Brief Thematic (Sector/Industry): EM Materials: The Recovery Trade and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

EM Materials: The Recovery Trade
Ohayo Japan | Oracle’s AI Build-Out: Who Pays the Bill?
Chartered Insights: Indian Consumption~ A Decadal Story
Singapore Market Roundup (17-Dec-2025): Maybank cuts Sembcorp’s target price to $5.65 after
Asia Real Estate Tracker (17-Dec-2025): Trailblazers Recognized at 12th Asia Property Awards
Exencial Industry Tidings 17/12/2025

EM Materials: The Recovery Trade

By Steven Holden

The Materials sector stands out as a key recovery candidate: low positioning but strong positive rotation across the GEM active universe.
Early inflows are being driven by China & HK and South Africa, with rising fund participation and narrowing underweights.
Stock-Level rotation is visible in Gold Fields, Zijin Mining, and Anglo American, alongside a growing set of lightly held rising stars.

Ohayo Japan | Oracle’s AI Build-Out: Who Pays the Bill?

US stocks fell as tech shares slid, with the Nasdaq down 1.8%, after a report said Oracle’s $10bn data centre project lost backing from Blue Owl Capital, reviving funding concerns.
Asahi Group will acquire 65% of Diageo’s East African business for ¥465bn, entering Kenya, Uganda and Tanzania, with FY25 sales of ¥155bn and completion expected in the 2H26.
Oasis Management disclosed an 8.5% stake in Ferrotec, attracted by its semiconductor exposure, low valuations and potential for corp action re-rating

Chartered Insights: Indian Consumption~ A Decadal Story

By Sudarshan Bhandari

India’s consumption is the core economic engine, driven by a surge in Per Capita Income and a structural shift toward premium spending.
Strong demographic tailwinds and policy catalysts are accelerating penetration across key, high-value consumer sectors like auto and e-commerce
The Nifty India Consumption TRI consistently delivers superior alpha and is projected to maintain a higher Return on Equity than the broader market.

Singapore Market Roundup (17-Dec-2025): Maybank cuts Sembcorp’s target price to $5.65 after

Maybank lowers Sembcorp’s target price to $5.65 following Alinta deal.
JPMorgan predicts Singapore equities will hit new highs by 2026 through value initiatives.
Morningstar boosts SGX fair value to $15, cites strong trading but warns of overvaluation.

Asia Real Estate Tracker (17-Dec-2025): Trailblazers Recognized at 12th Asia Property Awards

The 12th Asia Property Awards for Greater China recognized exceptional accomplishments in real estate.
CDL successfully sold the Sentosa Shopping Centre in Singapore for a substantial $75 million.
Real estate investment in the Asia-Pacific region surged by 25% in Q3, driven by Australia and Korea.

Exencial Industry Tidings 17/12/2025

Axis Bank projects India’s GDP growth for 2026-27 at 7.5%
NDFC expects dry fruits industry to grow by 10-15% in 2026-27
Foreign tourist arrivals touch 6.2 million during Jan-Sep 2025: Reports

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Dec 17

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks Close Mixed as Jobs Growth Offset by Rising Unemployment and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | Stocks Close Mixed as Jobs Growth Offset by Rising Unemployment
Singapore Market Roundup (16-Dec-2025): Morningstar raises SGX fair value to $15, notes
Exencial Industry Tidings 16/12/2025

Ohayo Japan | Stocks Close Mixed as Jobs Growth Offset by Rising Unemployment

US stocks closed mixed after November jobs added 64k (beat) but unemployment rose to 4.6%; Nasdaq +0.2% on Tesla record, S&P -0.2%, Dow -0.6%; Ford took $19.5bn EV pivot charge.
Mitsui & Co. (8031 JP) completed ¥800bn investment for 40% in Rhodes Ridge iron ore JV; production from 2030 at 40-50mtpa initially, expanding >100mtpa;
ASKA Pharmaceutical trades below book value and at sub-6x EV/EBITDA with >20% net cash; improved capital allocation, and potential PE sale as catalysts.

Singapore Market Roundup (16-Dec-2025): Morningstar raises SGX fair value to $15, notes

Morningstar lifts SGX fair value to $15, cites strong trading but warns of overvaluation.
PhillipCapital lowers Sembcorp’s TP to $7.10 but keeps ‘buy’ rating.
Analysts are optimistic as SGX starts a new growth phase.

Exencial Industry Tidings 16/12/2025

Gold import s down 60 % in November 20 25
No plan to phase out or retrofit vehicles not compatible with E20 fuel
JioHotstar intensifies South India push with boost in regional content investments

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Dec 16

Daily Brief Thematic (Sector/Industry): The Stocks to Own in Asia – Vol. 51 and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

The Stocks to Own in Asia – Vol. 51
The Stocks to Own in China – Vol. 38
Ohayo Japan | U.S. Stocks Slip as AI Leaders Weigh
The Stocks to Own in ASEAN – Vol. 53
Exencial Industry Tidings 15/12/2025
Singapore Market Roundup (15-Dec-2025): PhillipCapital sets Sembcorp target price at $7.10,
Thematic Report on India’s Aerospace Manufacturing: From Chaos to Competitiveness
The Stocks to Own in Thailand – Vol. 51

The Stocks to Own in Asia – Vol. 51

We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Portfolio changes: Five stocks remain, nine new join the fray
Since its inception, it has generated a before-fee total return of 278% versus the MSCI Asia ex Japan of 151%

The Stocks to Own in China – Vol. 38

We highlight 10 stocks in China that look interesting to us based on our FVMR methodology
Portfolio changes: Three stocks remain, seven new join the fray
Since inception, it has gained 160% versus the CSI 300 Index’s return of 97%

Ohayo Japan | U.S. Stocks Slip as AI Leaders Weigh

U.S. stocks edged lower as AI leaders slid, dragging the S&P 500, Nasdaq and Dow, while investors rotated into cyclicals and healthcare ahead of key delayed U.S. economic data.
Activist investors plan to lift their stake in Fuji Media Holdings to up to 33.3% unless progress is made on selling or separating its real estate business.
Hogy Medical shares jumped 17% after reports Carlyle seeks a $1bn take-private, an attractive exit for shareholders amid activist pressure, stagnant sales and declining earnings.

The Stocks to Own in ASEAN – Vol. 53

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR methodology
Portfolio changes: Five stocks remain, nine new join the fray
Since its inception, it has generated a before-fee total return of 295% versus the MSCI ASEAN’s 59%

Exencial Industry Tidings 15/12/2025

India’s red chilli crop expected to be low for 2025-26 season
India-EU FTA to boost India’s apparel exports by 20-25% over next three years
India reports 3.2% growth in limestone production in October 2025

Singapore Market Roundup (15-Dec-2025): PhillipCapital sets Sembcorp target price at $7.10,

PhillipCapital lowers Sembcorp’s target price to $7.10, keeps ‘buy’ rating.
Analysts are optimistic as SGX starts its new growth phase.
Morningstar boosts Hongkong Land’s fair value to US$7.40 due to real estate fund.

Thematic Report on India’s Aerospace Manufacturing: From Chaos to Competitiveness

The global aerospace supply chain is undergoing a structural de-risking from a “just-in-time” model, moving towards diversified “just-in-case” sourcing, catalyzed by post-COVID capacity exits.
This shift is creating a multi-decade, geopolitical trust arbitrage opportunity, positioning Indian Tier-2/3 precision component manufacturers as critical partners for global OEMs and Tier-1s.
The combination of a massive global order backlog, India’s certified capabilities, and supportive policy creates a multi-year compounding runway for select, high-execution Indian players.

The Stocks to Own in Thailand – Vol. 51

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Six stocks remain, eight new join the fray
Since inception, it has gained 72% versus the SET 100 Index’s return of 23%

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Dec 15

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Tech Drags as AI Concerns Resurface and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | Tech Drags as AI Concerns Resurface
Asia’s Nuclear Revival: Structural Upside Across the Energy Value Chain

Ohayo Japan | Tech Drags as AI Concerns Resurface

U.S. stocks fell Friday as technology led declines on AI concerns, Treasury yields steepened ahead of key data, and gold extended gains to around $4,300 an ounce.
Week Ahead: Bank of Japan’s December 19 meeting, with a widely expected 25bp rate hike supported by persistent inflation and improving domestic data
As investors rotate from AI, undervalued Kubota has lagged peers but shows improving cash flow, with a likely FY2025 beat and focus on returns in February’s mid-term plan.

Asia’s Nuclear Revival: Structural Upside Across the Energy Value Chain

By Rahul Jain

Structural Asia theme: AI-driven power demand, decarbonisation realism, and energy security are reviving nuclear across Asia’s value chain, with clearer cost and execution advantages versus the West.
Top equity plays: Kazatomprom anchors uranium scarcity; Mitsubishi Heavy offers quality equipment exposure; Doosan Enerbility provides high-beta EPC leverage as capex and SMRs scale.
• Selective risk framework: China drives volume but limited alpha; Japan offers execution-led equipment and restart upside; utilities and ETFs serve as stabilisers, not primary alpha drivers.

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Dec 14

Daily Brief Thematic (Sector/Industry): APAC Healthcare Weekly (December 14) – China NRDL and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

APAC Healthcare Weekly (December 14) – China NRDL, Fosun Pharma, SanBio, Peptidream, Zydus Life

APAC Healthcare Weekly (December 14) – China NRDL, Fosun Pharma, SanBio, Peptidream, Zydus Life

By Tina Banerjee

China has published 2025 National Reimbursement Drug List, which will be officially implemented nationwide on January 1, 2026. The list added 114 new drugs, including 50 Class 1 innovative drugs.
Fosun Pharmaceutical subsidiary inked exclusive global collaboration and license agreement with Pfizer for weight loss drug candidate YP05002. SanBio obtained partial change approval to the marketing authorization for Akuugo.
PeptiDream achieved milestone of nominating a clinical development candidate from collaboration program with Asahi Kasei. Zydus Lifesciences entered strategic partnership with Formycon for exclusive licensing and supply of Keytruda biosimilar.

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Dec 13

Daily Brief Thematic (Sector/Industry): Japan Strategy Weekly | BoJ Hike Anticipated Amid Manufacturing Rebound and Services Inflation and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Japan Strategy Weekly | BoJ Hike Anticipated Amid Manufacturing Rebound and Services Inflation
Thematic Report On India’s Valuation Reset: How Markets Are Repricing Growth Heading Into 2026
AUCTUS ON FRIDAY – 12/12/2025
Singapore Market Roundup (12-Dec-2025): CGSI keeps ‘add’ but cuts TP; JPMorgan downgrades SCI to
Singapore’s Experience: Export Economy

Japan Strategy Weekly | BoJ Hike Anticipated Amid Manufacturing Rebound and Services Inflation

CLOSES: TPX +1.8%, NKY +0.7%, JPY 155.85 (+0.50), JGB 1.95% (unch). Topix hits new all-time high
SECTORS: Securities +6.3%, Autos +6.2%, Wholesale +5.3% | Precision -0.2%, Telco -1.6%, Other Prod. -2.3%
WEEK AHEAD: Tankan (Mon), Flash PMI (Tue), Balance of Trade (Wed), CPI (Fri), BoJ Interest Rate Decision (Fri)

Thematic Report On India’s Valuation Reset: How Markets Are Repricing Growth Heading Into 2026

By Sudarshan Bhandari

Nifty-500 valuations have eased by about 13% between Sep’24 and Nov’25, with midcaps seeing the largest correction. Earnings growth has improved.
Market shift from liquidity to earnings-driven rally, with large caps near long-term averages and mid/small caps holding premiums.
FY26 may see a shift in sector leadership, with Private Banks and Technology gaining attention, while mid/small caps may face more selectivity.

AUCTUS ON FRIDAY – 12/12/2025

By Auctus Advisors

Corcel (CRCL LN)C; Target price of 1.40p per share: Equity raise from blue chip new investors bolsters balance sheet ahead of busy 2026 – Corcel has raised £3 mm of new equity at a price of 0.35 p per share from two blue chip new investors.
Following the raise, Corcel’s cash balance is expected to reach ~£6 mm by YE25.
In addition, Sintana Energy will pay Corcel ~US$2 mm in cash upon closing the acquisition of a 5% interest in KON‑16.

Singapore Market Roundup (12-Dec-2025): CGSI keeps ‘add’ but cuts TP; JPMorgan downgrades SCI to

CGSI maintains ‘add’ but lowers TP; JPMorgan downgrades SCI to ‘neutral’ post-Alinta deal.
RHB keeps ‘buy’ rating and targets 85 cents for HRnetGroup.
Analysts are optimistic as SGX begins its new growth phase.

Singapore’s Experience: Export Economy

By ICAM

This report looks at how Singapore “exports” experiences rather than products. Foreign visitors, patients, students and shoppers spend time in hotels, hospitals, schools, malls and attractions.
Their spending shows up as travel, healthcare, education and other services exports.
Between 2014 and 2024, Singapore’s services trade grew about 9.4% a year, faster than nominal GDP, and reached roughly 136% of GDP by 2024.

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Dec 12

Daily Brief Thematic (Sector/Industry): Ohayo Japan | US Equities Hit Records as Tech Retreats and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | US Equities Hit Records as Tech Retreats
Exencial Industry Tidings 11/12/2025
Singapore Market Roundup (11-Dec-2025): UOB Kay Hian maintains ‘buy’ on Valuetronics amid trade
Tech Supply Chain Tracker (12-Dec-2025): Meta postpones Llama successor, opts for
Thematic Report on India’s Defence Sector: The ‘Atmanirbhar’ Capex Cycle Hits Acceleration

Ohayo Japan | US Equities Hit Records as Tech Retreats

S&P 500 hit record highs while tech lagged, with the Nasdaq down 0.25% as investors rotated out of the sector following the Fed’s rate cut and Oracle’s 11% drop.
Broadcom Q4 revenue hit record $18.0bn (+28% YoY) on AI semis +74% YoY; guides Q1’26 revenue $19.1bn with AI semis doubling to $8.2bn and adj. EBITDA 67%.
Nintendo faces Switch 2 margin pressure from surging DRAM costs exceeding 20% of BOM by 2026, risking hardware gpm below 10% and earnings cuts.

Exencial Industry Tidings 11/12/2025

Aviation turbine fuel (ATF) consumption rises 5.4% in November 2025
IOCL, BPCL, HPCL, Nayara buying non – sanctioned Russian grades
Tractor sales see sharp decline i n November 20 25

Singapore Market Roundup (11-Dec-2025): UOB Kay Hian maintains ‘buy’ on Valuetronics amid trade

UOB Kay Hian keeps ‘buy’ rating on Valuetronics, sees potential from less trade tension.
Analysts are optimistic about Delfi due to lower cocoa prices boosting margins.
Analysts expect significant growth potential for LHN.

Tech Supply Chain Tracker (12-Dec-2025): Meta postpones Llama successor, opts for

By Tech Supply Chain Tracker

Meta has delayed the launch of Llama’s successor and is now focusing on a closed-source AI model.
Nvidia reported no significant findings in the investigation concerning the alleged smuggling of DeepSeek GPUs.
India is upgrading its public sector chip fabrication to evaluate the potential for government-led semiconductor production.

Thematic Report on India’s Defence Sector: The ‘Atmanirbhar’ Capex Cycle Hits Acceleration

Government policy, exemplified by a massive INR 7 lakh crore ($85 billion) pipeline in the last two years and accelerating export momentum, is resulting in a structural growth cycle.
This conversion provides multi-year revenue visibility (3-7x Book-to-Bill for key PSUs) and fundamentally shifts the industry model from import-driven acquisition to sustained indigenous manufacturing and maintenance, fueling a sustained re-rating.
The defence sector has crossed an point where execution is the new alpha; investors must closely monitor supply chain resilience around critical component imports, and the timing of mega-order conversions.

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Dec 11

Daily Brief Thematic (Sector/Industry): Singapore Industrials Beyond the STI: A Differentiated Opportunity in the Next 50 Index and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Singapore Industrials Beyond the STI: A Differentiated Opportunity in the Next 50 Index
Ohayo Japan | One More Cut
Singapore Market Roundup (10-Dec-2025): Analysts expect strong growth potential for LHN.
Monday Delight: 08/12/25
2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices # 2
Exencial Industry Tidings 10/12/2025
Asia Real Estate Tracker (10-Dec-2025): JD Acquires Half Stake in CCB Tower
Actinver Research – Real Estate Update

Singapore Industrials Beyond the STI: A Differentiated Opportunity in the Next 50 Index

By Garvit Bhandari

Next 50 Indices offers broader and faster-growing sector exposure to Industrials than the STI, with twice the number of industrial constituents and stronger revenue momentum
Industrials within the Next50 Indices were observed to have healthier balance sheets with more attractive valuations and higher dividend yields versus large-cap STI peers
For investors seeking greater industrial growth optionality in Singapore, the Next 50 presents a differentiated and compelling opportunity set.

Ohayo Japan | One More Cut

US stocks rose modestly after the Fed’s third 25bp rate cut to 3.5-3.75%, signals one more in 2026 amid FOMC divisions and a likely January pause.
GE Vernova (+15%) raised 2028 revenue outlook to $52B (from $45B), backlog to $200B, cumulative FCF to $22B, doubled dividend, and increased buyback to $10B. +ve MHI
Accrete (4395 JP, +17%) pivots from legacy SMS via JV with Forward Edge-AI (in US MDA SHIELD program) for quantum-resistant cybersecurity, targeting Japan sectors with venture-style upside.

Singapore Market Roundup (10-Dec-2025): Analysts expect strong growth potential for LHN.

Analysts anticipate significant growth potential for LHN.
RHB raises Centurion’s TP to $1.86, including Perth PBSA development.
CAREIT offers appealing diversification and decent yields, says RHB report.

Monday Delight: 08/12/25

By Contrarian Cashflows

Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help you kickstart the week ahead with fresh insights.
Because these ideas are the result of my first-level idea generation process, they require more in depth research. Therefore, the ideas will often be concise, with occasional references to valuable work from other practitioners that I encourage you to explore.
If you have something fascinating to share that could benefit me and the wider community, don’t hesitate to send it my way—I’d love to hear from you!

2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices # 2

By Rikki Malik

This insight recommends a basket of Asian-listed base metal producers.
Base metals, especially Copper, have a high probability of moving much higher as the AI race continues
We prefer to invest in the materials needed for the building out of AI infrastructure

Exencial Industry Tidings 10/12/2025

Fertiliser imports to rise by 41 % in FY 26
Electronic components import rises more than 13 % in 2024-25
Primary aluminium production up 2 % in October 20 25

Asia Real Estate Tracker (10-Dec-2025): JD Acquires Half Stake in CCB Tower

JD has made a significant investment by acquiring a 50% stake in CCB Tower for $449 million.
The acquisition by JD highlights the growing trend of mainland investors buying properties in Hong Kong.
Mandarin Oriental shareholders have approved a $4.2 billion buyout by Jardines, indicating strong market activity.

Actinver Research – Real Estate Update

By Actinver

Industrial real estate companies once again delivered solid operational results in 3Q25, a trend we expect to continue—consistent with the outlook presented in our prior 3Q25 review (link to report).
Despite ongoing uncertainty surrounding trade relations and potential tariff scenarios, nationwide vacancy remains low at 5%, according to CBRE, and several markets are beginning to show early signs of stabilization as new construction gradually normalizes.
Within this context, Mexico City continues to stand out as the most resilient market.

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Dec 10

Daily Brief Thematic (Sector/Industry): Ohayo Japan | US Markets Steady as Fed Decision Takes Center Stage and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | US Markets Steady as Fed Decision Takes Center Stage
Real Estate: Location, Location, Location— Even More Relevant in Retail
Singapore Market Roundup (09-Dec-2025): RHB raises Centurion’s target price to $1.86 with Perth
Asia Real Estate Tracker (09-Dec-2025): Brookfield and GIC Buy Australia’s National Storage
Thematic Report: Capex Revival Signals Strengthening Cycle- Public Momentum, Private Turning Point

Ohayo Japan | US Markets Steady as Fed Decision Takes Center Stage

US equities were mixed as JPMorgan’s decline weighed on the Dow, small caps hit new highs on expected Fed easing, ahead of Wednesday’s rate decision.
Markets focused on Wednesday’s Federal Reserve decision, with futures pricing an 87% probability of another quarter-point cut
Okuma faces near-term pressure from a sizable share sale, but buybacks, low valuations and its AI-enabled Smart Factory platform support the longer-term outlook.

Real Estate: Location, Location, Location— Even More Relevant in Retail

By Actinver

Solid fundamentals in DANHOS (Outperform, P$35 PT). Of all the companies in our Real Estate (Industrial, Commercial & Offices), DANHOS has the highest exposure to Mexico City, with 91% of its GLA concentrated in this region.
The capital’s dense population, high labor participation, and predominantly working-age demographic support robust consumption and sustained demand for office, industrial and retail space.
After a period of limited growth, DANHOS reactivated resumed growth at the end of 2023 and now has an attractive pipeline, particularly in industrial real estate, positioned to capture strong demand for logistics space in the Metropolitan Area of Mexico City.

Singapore Market Roundup (09-Dec-2025): RHB raises Centurion’s target price to $1.86 with Perth

RHB raises Centurion’s target price to $1.86, adding Perth PBSA project.
RHB calls CAREIT an appealing diversification with decent yields in an unrated report.
Analysts predict significant growth potential for LHN.

Asia Real Estate Tracker (09-Dec-2025): Brookfield and GIC Buy Australia’s National Storage