Category

Thematic (Sector/Industry)

Daily Brief Thematic (Sector/Industry): Japan Weekly | Geopolitics Rule as Semis Shine and Autos Stumble and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Japan Weekly | Geopolitics Rule as Semis Shine and Autos Stumble
  • APAC Healthcare Weekly (June 8)- Hansoh Pharma, Daiichi Sankyo, Takeda, Mayne Pharma, Zydus Life


Japan Weekly | Geopolitics Rule as Semis Shine and Autos Stumble

By Mark Chadwick

  • Japanese equities dipped as geopolitical tensions weighed on autos, though semiconductor stocks surged after Nvidia regained its crown as top global firm.
  • Japan’s Q1 capex jumped 6.4% amid pre-tariff investment, but weak household spending and falling real wages signaled persistent domestic demand fragility.
  • Toyota Industries fell 10% after unveiling a privatization plan priced below market expectations, raising investor governance concerns despite likely deal approval.

APAC Healthcare Weekly (June 8)- Hansoh Pharma, Daiichi Sankyo, Takeda, Mayne Pharma, Zydus Life

By Tina Banerjee

  • Hansoh Pharmaceutical stuck outlicense agreement with Regeneron Pharmaceuticals for GLP-1 drug candidate for an upfront payment of $80M. Daiichi Sankyo unveiled positive phase 3 trial result in first-line breast cancer.
  • Takeda received European approval for Adcetris as a chemotherapy regimen in Hodgkin lymphoma. Zydus Lifesciences is acquiring 5.9% stake in Agenus and commercial right for its lead candidate for India.
  • Mayne Pharma has filed a complaint in the U.S. Court against TherapeuticsMD. Cosette Pharmaceuticals indicated an intention to terminate the acquisition over “material adverse clause claims.”

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Daily Brief Thematic (Sector/Industry): China Prop Short Note: Turning Bullish on “lower Rates for Longer” & Improving Sector Fundamentals and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • China Prop Short Note: Turning Bullish on “lower Rates for Longer” & Improving Sector Fundamentals
  • Hong Kong Banks – Weak Property Lending Weakens More, Aggressive LDR Fall, Expect Poor Profit
  • Thematic Report: Indian Pipe Sector Turnaround
  • Impact of Rate Cut on Indian Banking Sector: NIMs & Earnings to Contract Further Amid Slowdown
  • Thematic Report: AI’s Productivity Gains; Quantifying Revenue Risk for Indian IT
  • [Blue Lotus Daily]:XPEV US/NIO US/New Energy Vehicle
  • [Blue Lotus Daily-TMT Update]:700 HK/1024 HK/JD US/TCOM US/3690 HK/NTES US/AI Sector Update
  • AUCTUS ON FRIDAY – 06/06/2025


China Prop Short Note: Turning Bullish on “lower Rates for Longer” & Improving Sector Fundamentals

By Jacob Cheng

  • We are turning bullish on the sector.  We think there are several structural drivers that will improve the sector as a whole, both on demand and supply side
  • Continued low onshore rates will boost the property market as well as reduce funding cost for developers.  The decline in new start will also help support home prices
  • Valuation is still almost historical low, we think the downside is relatively limited

Hong Kong Banks – Weak Property Lending Weakens More, Aggressive LDR Fall, Expect Poor Profit

By Daniel Tabbush

  • Real estate lending growth in Hong Kong remains weak and now at lowest growth rate in the HKMA series since early FY05
  • Deposits are overwhelming HK’s banks with LDR now moving to 55% in April FY25, nearly the lowest on record from HKMA series
  • Capital flight risk on the HK currency is also more severe than in the past, at any time, with FX reserves at 1.6x , well below past levels

Thematic Report: Indian Pipe Sector Turnaround

By Nimish Maheshwari

  • PVC‐pipe makers endured FY 25’s perfect storm, resin prices crashed, trade channels destocked, volumes wobbled, yet April-May demand snapped back and resin prices appear to have bottomed.
  • Anti-Dumping duties plus the coming BIS quality curb on Chinese resin should lock in price discipline; government infra-spend, real-estate and irrigation needs set up 10-12 % volume CAGR for FY27.
  • With inventory now thin, even a modest restocking cycle could turbo-charge revenues while stabilising input costs let organised players claw back EBITDA margins; diversified leaders look best placed.

Impact of Rate Cut on Indian Banking Sector: NIMs & Earnings to Contract Further Amid Slowdown

By Nimish Maheshwari

  • The banking sector will likely see earnings growth bottom out in FY26, with the second half potentially performing better than the first half as deposit rate reductions eventually flow through.
  • This divergence between declining lending rates and sticky deposit costs is the core driver of NIM compression.
  • This monetary easing is expected to exert downward pressure on banks’ lending yields, impacting NIMs, particularly in the first half of fiscal year 2026 (1HFY26). 

Thematic Report: AI’s Productivity Gains; Quantifying Revenue Risk for Indian IT

By Nimish Maheshwari

  • Generative AI (GenAI) and Agentic AI are ushering in unprecedented productivity gains, projecting a 10-50% efficiency boost in Software Development Life Cycle especially for Application Development and Maintenance (ADM).
  • A projected ~40% efficiency gain from enterprise-wide GenAI Copilot implementation places approximately 10-15% of current IT services revenues at risk. 
  • Though success hinges on the ability to transition GenAI solutions from pilot projects to scaled production deployments, emphasising IP-led innovation and new value creation over mere cost optimisation. 

[Blue Lotus Daily]:XPEV US/NIO US/New Energy Vehicle

By Eric Wen

  • XPEV US : The new Xiaopeng car will collaborate on the development of Huawei’s HUD solution (+)
  • NIO US: Onvo to Provide Ride-Hailing Vehicles for Didi (-)
  • New Energy Vehicle: 2025 May 26 – June 1 NEV Delivery Rankings(/)

[Blue Lotus Daily-TMT Update]:700 HK/1024 HK/JD US/TCOM US/3690 HK/NTES US/AI Sector Update

By Ying Pan

  • 700 HK: Tencent’s <VALORANT Mobile> Launches iOS App Store Page, Showing Official Release on November 25 (-)
  • 1024 HK: Kuaishou’s Kling AI Reaches Strategic Cooperation with Design AI Agent LOVART (+)
  • JD US/TCOM US: JD.com may launch OTA (Online Travel Agency) services in the near future (-//)

AUCTUS ON FRIDAY – 06/06/2025

By Auctus Advisors

  • Criterium Energy (CEQ CN)C; Target price of C$0.35 per share: On track for first gas in 1Q26 – 1Q25 production of 988 boe/d had been previously reported.
  • Criterium held ~C$1.6 mm in cash at the end of 1Q25.
  • The company has reduced its accounts payable by ~C$3.5 mm while inventory + amounts receivable were flat vs. YE24.

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Daily Brief Thematic (Sector/Industry): Ohayo Japan | Trump’s Disappointment and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Trump’s Disappointment
  • China’s AI Strategy Isn’t About Catching up to the West – It’s About Out-Deploying It.
  • Japan Morning Connection: Dull Tone to Start as Musk Squabble Overshadows Trump’s Call with China
  • Silver Market Snapshot: Rising Prices, Industrial Tailwinds, and Strategic Exposure
  • South Africa Listed Property Review – May 2025
  • Global and Indian Textile Industry-Shifting Supply Chains,Innovation in Materials,and Policy Support
  • Circle IPO: Wall Street’s New Fintech Darling Prices Above Range
  • #159 India Insights: Adani Enters Ground Handling, Palm Oil Imports 87% Surge, Zepto Delays IPO


Ohayo Japan | Trump’s Disappointment

By Mark Chadwick

  • Stocks fell as Tesla plunged, Trump-Xi tensions resurfaced, and weak labor data fueled economic concerns ahead of Friday’s key nonfarm payrolls report.
  • Suzuki suspends Swift production due to China’s rare earth export limits, disrupting global supply chains. This could get ugly.
  • Palliser Capital opposes Keisei’s board, pushing for governance reform and a reduced Oriental Land stake to boost capital efficiency. Unlikely to sway other shareholders

China’s AI Strategy Isn’t About Catching up to the West – It’s About Out-Deploying It.

By Finimize Research

  • China’s wiring AI directly into the real economy: across consumer platforms, supply chains, and public services. That real-world focus could power the country’s next growth wave.
  • Valuations are cheap. Risks are well known. And if one macro domino falls the right way – a policy shift, demand recovery, geopolitics thaw – the upside could be substantial.  
  • So I built the China AI Deployment 10 basket. These stocks aren’t a moonshot: they’re a leveraged play on one of the most consequential tech shifts in China’s modern economy.

Japan Morning Connection: Dull Tone to Start as Musk Squabble Overshadows Trump’s Call with China

By Andrew Jackson

  • Suzuki stopping production of the Suzuki swift due to lack of rare earth from China may be the new normal for autos.
  • ISpace lunar lander fails to touch down on the moon (again), while Musk is threatening to decommission his Dragon rockets.
  • Sekisui House numbers missed on poor margins and order outlook for its US detached housing business.

Silver Market Snapshot: Rising Prices, Industrial Tailwinds, and Strategic Exposure

By Rahul Jain

  • Silver prices have rallied 20% YTD to $35.60/oz, supported by strong industrial demand and a persistent market deficit.
  • Despite being a small market compared to gold and copper, silver offers niche exposure through major producers like Hindustan Zinc, Fresnillo, and Pan American.
  • Structural undersupply, driven by green tech and limited new mine capacity, positions silver as a high-beta hedge and a strategic long-term play.

South Africa Listed Property Review – May 2025

By Garreth Elston

  • Building upon the positive momentum in April, May was once again a positive month.
  • All Property Index ended the month up 4.22% in total returns (key to note is that it was the last three trading days that saved Index from a down month).
  • Overall market sentiment showed cautious optimism, supported by some encouraging company results, but was arguably saved by the SARB’s 25 bps interest rate cut injecting a shot of optimism.

Global and Indian Textile Industry-Shifting Supply Chains,Innovation in Materials,and Policy Support

By Sreemant Dudhoria

  • Global and Indian textile markets face shifting supply chains due to geopolitical tensions, driving sourcing diversification towards India.
  • There’s a significant push for innovation in materials, focusing on man-made fibers, sustainable, and technical textiles globally and in India
  • The Indian textile industry benefits from strong government policy support, including protective tariffs and various incentive schemes

Circle IPO: Wall Street’s New Fintech Darling Prices Above Range

By Tatja Karkkainen

  • With an IPO valuation of roughly $8.2 billion and current forward P/E of ~32 ×, Circle still looks poised for multiple expansion as regulatory clarity and stable-coin adoption gather pace.
  • Deal upsized from 32 m to 34 m shares, and priced $3 above the top of the original range, boosting total proceeds by >20 %
  • Public float increases to ~13 % of the company, modestly improving trading liquidity while founders retain long-term control via Class B shares

#159 India Insights: Adani Enters Ground Handling, Palm Oil Imports 87% Surge, Zepto Delays IPO

By Sudarshan Bhandari

  • Adani Group enters the airport ground handling sector, expanding its operations after Celebi’s exit. It aims to bid for major contracts and compete with established players.
  • India’s palm oil imports surged 87% in May due to low stocks and better prices, likely lifting global palm and soy oil prices in coming months.
  • Zepto (1936629D IN) postpones its IPO to 2026, shifting focus to private fundraising and cutting cash burn amid growing competition and operational challenges.

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Daily Brief Thematic (Sector/Industry): Wise Plc: Low-Cost Brand and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Wise Plc: Low-Cost Brand, High-Quality Client Base for an EMI
  • Ohayo Japan | Markets Mixed as Economic Data Weakens
  • Japan Morning Connection: Power/Analog Semi Names Leading Tech Higher once Again
  • #158 India Insights: India Mulls 24% Steel Duty; Record Grains; Maruti Hit by China Curbs
  • [Blue Lotus Daily]:LKNCY US/1810 HK/New Energy Vehicle
  • [Blue Lotus Daily-TMT Update]:TCOM US/JD US/700 HK/NTES US/PDD US/BABA US/ 3690 HK/Entertainment


Wise Plc: Low-Cost Brand, High-Quality Client Base for an EMI

By Tatja Karkkainen

  • Wise reports a stickier deposit mix than Revolut and is likely to outline an evolutionary service roadmap when it releases FY-25 results on 5 June.
  • FTSE-100 lift-off in dollar terms Wise’s September promotion is set to trigger roughly $0.7 – $1.1 billion of forced buying from index-tracking funds.
  • Management is willing to fund a selective business product push, adding payroll, treasury and deeper API integrations for SMEs.

Ohayo Japan | Markets Mixed as Economic Data Weakens

By Mark Chadwick

  • Stocks were mixed as weak hiring and services data signaled slowing growth, while renewed tariff tensions and US-China trade uncertainty pressured sentiment and Treasury yields fell.
  • Nintendo’s game console “Nintendo Switch 2” will be released today
  • Dalton Investments, a U.S. activist fund, acquired a 5.01% stake in Senko Group Holdings

Japan Morning Connection: Power/Analog Semi Names Leading Tech Higher once Again

By Andrew Jackson

  • Comments from STMicro CEO reflect a similar positiveness from Onsemi management for auto and industrial chips.
  • Memory plays strong but still limited follow through for Japanese HDD component makers.
  • Plant Labs strong earnings highlights the importance of satellite images…positive IQPS, Synspective and Sky perfect.

#158 India Insights: India Mulls 24% Steel Duty; Record Grains; Maruti Hit by China Curbs

By Sudarshan Bhandari

  • India considers raising safeguard duty on steel from 12% to 24% to protect local steelmakers from Chinese imports and trade diversion.
  • India’s wheat and rice production is set to reach record highs in 2025, with wheat at 117.5 million tons.
  • Maruti Suzuki India (MSIL IN) faces potential production delays due to China’s rare earth magnet export curbs, though it’s in talks with the government.

[Blue Lotus Daily]:LKNCY US/1810 HK/New Energy Vehicle

By Eric Wen

  • LKNCY US: Luckin coffee launches RMB 6.9/ Cup Coupons (-) 
  • 1810 HK: Xiaomi Auto Expected to Turn Profitable in 3Q-4Q25(+)
  • New Energy Vehicle: China Major Automakers May 2025 Sales Summary(-)

[Blue Lotus Daily-TMT Update]:TCOM US/JD US/700 HK/NTES US/PDD US/BABA US/ 3690 HK/Entertainment

By Ying Pan

  • TCOM US: Dragon Boat Festival holiday travel volume miss expectations(-) 
  • JD US: JD Food Delivery Daily Orders Surpass 25 Million(+)
  • 700 HK: Tencent Yuanbao App announces integration with Tencent Maps, enabling precise location (+)

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Daily Brief Thematic (Sector/Industry): Ohayo Japan | Nvidia Flips Microsoft and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Nvidia Flips Microsoft
  • Japan Morning Connection: Coreweave +25% and Numbers from HP Enterprise Sets Positive Semi Tone
  • China Strategy: The Rise of China’s Defence Industry
  • Semiconductor Memory Q125 Review, Tariff & Tech Transition Impacts, HBM Outlook Etc.
  • Charted Insights : Sectors Seeing Margin Uptick as Inflation Cools Down in India
  • #157 India Insights: Adani Scrutiny, Record Defence Growth & RBI Rate Cut Buzz Shape Headlines
  • Episode 120: NVIDIA Earnings, The Future of AI inference, China AI and more
  • Furniture/Furnishings Weekly: Cognitive Automation and Structural Transformation in the Economy
  • Biopharma Week in Review – Possible Calm Before the Storm; Pharma Tariffs Looming
  • Bajaj, TVS Overtake Ola as EV 2W Market Consolidates


Ohayo Japan | Nvidia Flips Microsoft

By Mark Chadwick

  • U.S. stocks rose as Nvidia topped Microsoft in value; job data beat forecasts, but global growth concerns grew amid tariffs and stalled trade talks.
  • Meta signed a 20-year deal with Constellation to power AI growth with nuclear energy, supporting relicensing and expansion of an Illinois plant.
  • Fast Retailing reported UNIQLO’s domestic same-store sales (including e-commerce) rose 13% year-on-year in May

Japan Morning Connection: Coreweave +25% and Numbers from HP Enterprise Sets Positive Semi Tone

By Andrew Jackson

  • New smartphone offering from Micron lifts memory plays which may help EUV also.
  • Comments from Onsemi management that auto has turned the corner positive for Rohm, Fuji Elec, Renesas.
  • Kadokawa/Bandai Namco’s Nightreign sells 3.5m copies in 4-days, plus a new DLC on the way.

China Strategy: The Rise of China’s Defence Industry

By Osbert Tang, CFA

  • China’s defence industry is poised to be another major focus going forward. Many stocks have corrected by 3-20% from their recent peaks, presenting interesting opportunities. 
  • Most of them are A-share stocks, with business ranging from fighter manufacturing to optical system development to aircraft engine research and production.
  • AviChina Industry & Technology H (2357 HK) is the best play, given its Hong Kong listing, undemanding FY25 PER of 13.5x and 56% discount to holdings in A-share subsidiaries.

Semiconductor Memory Q125 Review, Tariff & Tech Transition Impacts, HBM Outlook Etc.

By William Keating

  • DRAM revenues for Q125 amounted to $28.6 billion, up 1.5% QoQ and up 57.4% YoY. 
  • NAND Q125 revenues amounted to $13.3 billion, down 20.6% QoQ and down 5.5% YoY.
  • Micron’s HBM revenues grew 50% QoQ. Sk Hynix will double HBM revenues YoY. HBM TAM on track to exceed entire DRAM industry 2024 revenues by 2030. Transformation incoming!

Charted Insights : Sectors Seeing Margin Uptick as Inflation Cools Down in India

By Sudarshan Bhandari

  • Several Indian sectors have demonstrated a robust recovery in operating margins on a Year-over-Year (YoY) basis as of March 2025 (Q4 FY25)
  • This broad-based improvement is primarily attributed to a confluence of industry-wide factors, predominantly the easing of input costs driven by moderating inflation.
  • Sectors like Telecom, Metals, Cement, Consumer Durables, Capital Goods, Automobile, Healthcare, EMS are seeing uptick in margins

#157 India Insights: Adani Scrutiny, Record Defence Growth & RBI Rate Cut Buzz Shape Headlines

By Sudarshan Bhandari

  • U.S. investigates Adani over alleged Iranian LPG imports where Adani denies wrongdoing, calling the accusations baseless and mischievous.
  • India’s defence sector hit INR 1.46T in FY25 with record exports, private growth, AMCA launch and INR 2T deals driving future upside.
  • RBI may announce a 50-basis point rate cut in June to rejuvenate credit growth and mitigate economic uncertainties.

Episode 120: NVIDIA Earnings, The Future of AI inference, China AI and more

By The Circuit

  • Nvidia surpassed expectations in China despite challenges, indicating growth in other areas of their business
  • Shift from training to inference era highlighted, with focus on customers buying Nvidia systems for inference
  • Competition in the inference market could pose challenges for Nvidia, especially as costs grow and alternatives emerge like Google’s tpu

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


Furniture/Furnishings Weekly: Cognitive Automation and Structural Transformation in the Economy

By Water Tower Research

  • Trade policy volatility remains unabated, but this week the impact on the furniture and furnishings space was mixed.
  • The WTR Commercial/Contract Furniture Index rose 2.6% and the Home Goods Retailers Index was up 2.3%, while the Residential Manufacturers & Suppliers Index declined 1.2%.
  • The large-cap indices gained 1.9%, while the R2K gained 1.4%.

Biopharma Week in Review – Possible Calm Before the Storm; Pharma Tariffs Looming

By Water Tower Research

  • The holiday-shortened week was fairly quiet on the macro front, as certain vaccine-related actions by health agencies were largely expected.
  • Mainly affected was MRNA, which had a new COVID-19 vaccine approved with a restrictive label and HHS funding canceled for pre-pandemic bird flu vaccines.
  • Public comments for the Section 232 investigation are rolling out, signaling pharma tariffs could be imminent, with expectations of ~25%.

Bajaj, TVS Overtake Ola as EV 2W Market Consolidates

By Sreemant Dudhoria

  • EV sales rose 9% MoM in May, showing early signs of recovery post-April dip; YoY growth strong at 29%.
  • Ola Electric (OLAELEC IN) ’s market share slipped to 19%, while TVS Motor (TVSL IN) and Bajaj Auto Ltd (BJAUT IN) remained steady; market concentration continues.
  • Affordability challenges remain, as lower subsidies pressure entry-level demand; OEM pricing and rollout strategies in focus.

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Daily Brief Thematic (Sector/Industry): Ohayo Japan | Markets Brush Off Tariff Turmoil and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Markets Brush Off Tariff Turmoil
  • Japan Morning Connection: Markets Rising from Morning Lows on Expectations for a Trump-Xi Call
  • Monday Delight: 02/06/25
  • US Banks – Granular Weekly Data Suggest C&I Is Robust, Underlying Economy, Credit Metrics
  • #155 India Insights: Quess Restructures, India-US Eye Trade Deal, VST Enters Electric Farm Tech
  • #156 India Insight: India’s Exports to Hit $1T in FY26, EV Production Setback, HDB Financial’s IPO


Ohayo Japan | Markets Brush Off Tariff Turmoil

By Mark Chadwick

  • US stocks closed higher Monday despite rising trade tensions with China and the EU.
  • ISM data showed US manufacturing activity contracted in May, with imports at their lowest since 2009
  • Metaplanet has acquired an additional 1,088 BTC for 17 billion yen, bringing its total holdings to 8,888 BTC

Japan Morning Connection: Markets Rising from Morning Lows on Expectations for a Trump-Xi Call

By Andrew Jackson

  • Applied Digital landing a big data center order from CoreWeave lifting AI related plays setting upbeat tone for SPE.
  • Big Chinese SiC capacity coming online further adding to the price pressures for Rohm.
  • Square Enix cancelling its ‘Project Gemini’ with Polish developer another foreign flop reminiscent of Avengers?

Monday Delight: 02/06/25

By Contrarian Cashflows

  • This is your Monday morning dose of inspiration. 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.


US Banks – Granular Weekly Data Suggest C&I Is Robust, Underlying Economy, Credit Metrics

By Daniel Tabbush

  • Strong weekly data from the CP market and from granular loan data of US banks
  • C&I type lending is also included in the CP market and other loans to FI’s
  • Loans to other FI’s is up 21% YoY and C&I lending, reached a new high since early FY24

#155 India Insights: Quess Restructures, India-US Eye Trade Deal, VST Enters Electric Farm Tech

By Sudarshan Bhandari

  • Quess Corp Ltd (QUESS IN)‘s restructuring into three entities aims for targeted growth, disciplined capital allocation, and international expansion in emerging sectors.
  • India and the US are negotiating an interim trade deal by June 25, aiming for tariff exemptions and increased trade.
  • VST Tillers Tractors (VSTT IN) to launch fully electric power tiller and weeder, expanding into the electric farm machinery sector.

#156 India Insight: India’s Exports to Hit $1T in FY26, EV Production Setback, HDB Financial’s IPO

By Sudarshan Bhandari

  • India’s exports are set to surpass $1 trillion by FY26, driven by trade diversification, FTAs, and robust sector growth.
  • Bajaj Auto Ltd (BJAUT IN) warns of rare earth magnet shortage impacting India’s EV production by July, urging quick approval for imports.
  • HDB Financial Services Ltd (0117739D IN) is close to SEBI approval for a $1.5 bn IPO, set to become India’s largest shadow bank listing.

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Daily Brief Thematic (Sector/Industry): Ohayo Japan | Ukraine Stages Attack on Russian Bombers and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Ukraine Stages Attack on Russian Bombers
  • Japan Morning Connection: Hope for Trump-Xi Call Lifts Markets off the Lows
  • How MoRTH’s New Bidding Norm Can Change the Competitive EPC Sector?


Ohayo Japan | Ukraine Stages Attack on Russian Bombers

By Mark Chadwick

  • Despite volatility driven by Trump’s shifting remarks on China trade, the S&P 500 and Nasdaq ended Friday nearly flat, closing out their best month since November 2023.
  • Ukraine launched a major drone attack on Russian military bombers in Siberia, hitting over 40 warplanes at four airfields.
  • NEC announced plans to increase revenue for its digital transformation business “Blue Stella” to 1 trillion yen, representing 84% growth from fiscal 2025

Japan Morning Connection: Hope for Trump-Xi Call Lifts Markets off the Lows

By Andrew Jackson

  • TSMC planning a fab in UAE not enough to lift semi-cap names Friday.
  • New Switch on Thursday and the Summer Game Fest on Friday points to upside for laggard developers this week.
  • ISpace set to deliver UNESCO cultural hard drive to the moon this Friday.

How MoRTH’s New Bidding Norm Can Change the Competitive EPC Sector?

By Nimish Maheshwari

  • The Ministry of Road Transport & Highways(MoRTH) has revised bidding norms for central government road projects, effective April 30, 2025, removing the APS cap and lowering the trigger.
  • The EPC sector faced intense competition and aggressive underbidding from less stringent standards, causing project delays and quality issues. 
  • These changes aim to deter unsustainable bids, prevent margin erosion, filter speculative players, ease competition, and improve project execution and quality.

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Daily Brief Thematic (Sector/Industry): APAC Healthcare Weekly (June 1)- Eisai and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • APAC Healthcare Weekly (June 1)- Eisai, Daiichi, Samsung Bio, SK Bioscience, CSPC, Hengrui Pharma
  • Tariff Surge 2025: Winners, Losers, and the Real Impact on U.S. Steel and Aluminium


APAC Healthcare Weekly (June 1)- Eisai, Daiichi, Samsung Bio, SK Bioscience, CSPC, Hengrui Pharma

By Tina Banerjee

  • Eisai received approval for its insomnia drug, Dayvigo in China. Daiichi Sankyo and Merck have voluntarily withdrawn BLA seeking accelerated approval in the U.S. for patritumab deruxtecan for NSCLC.
  • Samsung Biologics secured two CMO contract worth KRW441B from unnamed pharmaceutical companies in Asia and Europe. SK Bioscience has completed a major expansion of its vaccine production facility in Andong.
  • CSPC Pharmaceutical is in negotiations regarding three potential outlicensing deals. Jiangsu Hengrui Pharmaceuticals received approvals for three drugs in China. Hansoh’s third BLA for Xinyue has been accepted by NMPA.

Tariff Surge 2025: Winners, Losers, and the Real Impact on U.S. Steel and Aluminium

By Rahul Jain

  • The U.S. has doubled tariffs on imported steel and aluminum to 50%, citing national security and domestic industry protection.
  • The move is expected to raise domestic prices, reduce imports, and increase costs for metal-intensive industries.
  • Winners include U.S.-based producers like Nucor, United States Steel, Cleveland Cliffs and Century Aluminum; losers are foreign exporters like Aloca, RioTinto, Nippon Steel, Ford, GM etc.

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Daily Brief Thematic (Sector/Industry): Latest US Restrictions On EDA Sales To China Tanks CDNS and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Latest US Restrictions On EDA Sales To China Tanks CDNS, SNPS
  • [IO Technicals 2025/22] Bearish Momentum Strengthens
  • The Stocks to Own in China – Vol. 36
  • [Blue Lotus Daily-TMT Update]:JD US/BABA US/3690HK/TCOM US/1024HK/700HK/PONY US/BIDU US/WRD US/GOOGL
  • #154 India Insights: GenAI, $44B Space Sector Boom, JSW Steel’s Capacity Target On Track
  • [Blue Lotus Daily]:XPEV US/LI US/601127 CH/NIO US/BZ US/1211 HK/New Energy Vehicle
  • Spotlight On Neurodegenerative Diseases Innovative Treatments: TREM2 Agonists
  • AUCTUS ON FRIDAY – 30/05/2025
  • The Stocks to Own in Thailand – Vol. 49


Latest US Restrictions On EDA Sales To China Tanks CDNS, SNPS

By William Keating

  • CDNS, SNPS each fall >10% on the back of further US restrictions on sale to China
  • Both of their China revenues were around 10% in the most recent quarter, albeit in the case of CDNS, it was 15% in the year ago quarter
  • China’s domestic EDA ecosystem has grown significantly in recent years. These latest restrictions, if fully implemented, will simply serve to further accelerate its development

[IO Technicals 2025/22] Bearish Momentum Strengthens

By Amrutha Raj

  • Iron ore futures dropped as China’s steel demand weakened and Beijing considered a pre-sale ban of unfinished homes, potentially hurting global steel demand. 
  • Expectations of impending production restrictions were bolstered when Baosteel forecasted that China’s total steel output could decrease by 50 million tons this year. 
  • On the technical front, prices remain below key moving averages, and MACD lags the signal line, reinforcing a persistent bearish outlook. 

The Stocks to Own in China – Vol. 36

By Dr. Andrew Stotz, CFA

  • We highlight 10 stocks in China that look interesting to us based on our FVMR Methodology
  • Portfolio changes: Two stocks remain, eight new join the fray
  • Since inception, it has gained 172% versus the CSI 300 Index’s return of 61%

[Blue Lotus Daily-TMT Update]:JD US/BABA US/3690HK/TCOM US/1024HK/700HK/PONY US/BIDU US/WRD US/GOOGL

By Ying Pan

  • JD US/BABA US/3690 HK: Food Delivery Subsidy Rules Adjusted Again, Merchant Share Rises to 70% (+/+/+)
  • TCOM US: Stable Traffic Growth in Dragon Boat Festival Traffic(+)
  • TCOM US:Daily cross-border trips during Dragon Boat Festival holiday hit 2.15m (-)

#154 India Insights: GenAI, $44B Space Sector Boom, JSW Steel’s Capacity Target On Track

By Sudarshan Bhandari

  • Tata Consumer Products (TATACONS IN) chairman highlights India’s strong growth outlook, emerging trends like GenAI, and the nation’s stability.
  • India’s space sector, driven by state-level policies and private investments, is set to reach $44 billion by 2033.
  • JSW Steel’s 50 MT capacity target by FY31 remains intact despite Bhushan setback, focusing on brownfield and greenfield expansions.

[Blue Lotus Daily]:XPEV US/LI US/601127 CH/NIO US/BZ US/1211 HK/New Energy Vehicle

By Eric Wen

  • XPEV US: Mona M03 Max facelift launches with RMB15k price cut (+)
  • LI US/601127 CH/ XPEV US/NIO US: Week 21 Sales Ranking (May 19-25, 2025)(+/+/-/-)
  • New Energy Vehicle: MOC focuses on “zero-mile used cars”, BYD(1211 HK) & Dongfeng attend meeting(-)

Spotlight On Neurodegenerative Diseases Innovative Treatments: TREM2 Agonists

By Water Tower Research

  • The critical role of TREM2. Triggering receptor expressed on myeloid cells 2 (TREM2) is a protein that is primarily found on the surface of microglia.
  • Microglia are the primary immune cells of the central nervous system (CNS), which essentially act as the first and principal line of active immune defense in the CNS.
  • TREM2 helps the CNS immune system by enhancing microglia’s ability to clear toxic substances, abnormal proteins (such as amyloid beta), and cellular debris. I

AUCTUS ON FRIDAY – 30/05/2025

By Auctus Advisors

  • Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions?
  • – 1Q25 production was 4,085 boe/d with no horizontal wells drilled in the period.
  • RCE is more mature than CN and while no drilling has taken place at RCE, the decline rate between 4Q24 and 1Q25 was only ~5%.

The Stocks to Own in Thailand – Vol. 49

By Dr. Andrew Stotz, CFA

  • We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
  • Portfolio changes: Three stocks remain, 11 new join the fray
  • Since inception, it has gained 73% versus the SET 100 Index’s return of 10%

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Daily Brief Thematic (Sector/Industry): Ohayo Japan | The U.S. Appeals Court Has Reinstated Trump’s Tariffs. and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | The U.S. Appeals Court Has Reinstated Trump’s Tariffs.
  • Junior Copper Miners: Ivanhoe’s Congo Issues Highlight Need for More Diversified Copper Supply
  • Episode 119: Computex, Google I/O, Dell Tech World, and more
  • Japan Morning Connection: Markets Up, but Excitement Fading with More Tariff Uncertainty Ahead
  • #153 India Insight: SEBI Probes IndusInd Bank, DIXON Chief on Electronics, NSE IPO Nears Nod.
  • KDST + NLSP Combined Core Investment Case 29052025


Ohayo Japan | The U.S. Appeals Court Has Reinstated Trump’s Tariffs.

By Mark Chadwick

  • A federal appeals court reinstated Trump’s tariffs temporarily, adding uncertainty to trade policy.
  • The S&P 500 and Nasdaq rose 0.4%, while the Dow gained 0.3%, though all three retreated from session highs
  • Renesas Electronics has scrapped plans to produce next-generation power semiconductors for electric vehicles using silicon carbide at its Takasaki Plant

Junior Copper Miners: Ivanhoe’s Congo Issues Highlight Need for More Diversified Copper Supply

By Nicolas Van Broekhoven

  • In the global copper market the news of trouble at Ivanhoe Mines (IVN CN) large Kamoa-Kakula mine in Congo dominated headlines.
  • Kamoa-Kakula is the fourth largest global copper mine ramping up supply in the coming years. The issues highlight the necessity for other projects such as Oyo Tolgoi in Mongolia. 
  • In Mongolia, headlines were dominated by political unrest and a “secret” lawsuit by the Mongolian government against Rio Tinto Ltd (RIO AU)

Episode 119: Computex, Google I/O, Dell Tech World, and more

By The Circuit

  • Computex focused heavily on AI and featured a lot of liquid cooling technology
  • Nvidia keynote at Computex introduced NVLink Fusion for custom CPUs, targeting vendors like Fujitsu
  • Debate arose over the relevance of NVLink Fusion for hyperscalers who are moving towards custom silicon to avoid reliance on Nvidia.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


Japan Morning Connection: Markets Up, but Excitement Fading with More Tariff Uncertainty Ahead

By Andrew Jackson

  • NVDA pricing in numbers positive and Dell AH sets a good tone for AI related.
  • Renesas pulling out of SiC points to problems with Wolfspeed supplies and may be positive Rohm.
  • Boeing up with 737 Max production increasing and China about to resume deliveries.

#153 India Insight: SEBI Probes IndusInd Bank, DIXON Chief on Electronics, NSE IPO Nears Nod.

By Sudarshan Bhandari

  • SEBI investigates Indusind Bank (IIB IN)‘s delayed disclosures on derivatives accounting lapses, insider trading violations, and potential violations of LODR regulations.
  • Dixon Technologies India Ltd (DIXON IN) Sunil Vachani discusses India’s progress in electronics manufacturing, aiming for global leadership but requiring time and patience.
  • NSE is close to receiving Sebi’s approval for its IPO, with ongoing discussions on disclosures or an out-of-court settlement.

KDST + NLSP Combined Core Investment Case 29052025

By ACF Equity Research

  • We consider the merged platform Kadimastem (KDST.TA) + NLS Pharmaceutics (NLSP:NasdaqCM).
  • We provide an investment case analysis and a selection of merged metrics prior to any synergies.
  • The merger creates a cross-platform pre-revenue biotech with lead programs including a proprietary stem-differentiation platform capable of delivering scalable therapies for replacing lost or damaged cells; IsletRx could revolutionize insulin production for Type 1 diabetes (T1D) patients; AstroRx® targets neurodegenerative diseases (NDDs); and a clinical-stage Dual Orexin Receptor Agonist (DOXA) platform targets NDD therapies and metabolic disorders including ALS and sleep-wake disorders.

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