Category

Thematic (Sector/Industry)

Jan 01
0

Daily Brief Thematic (Sector/Industry): Japan Weekly | Topix +25% for the Year and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Japan Weekly | Topix +25% for the Year
  • China Precious Metals Buck Weakening Materials Trend

Japan Weekly | Topix +25% for the Year

By Mark Chadwick

  • Market Performance: Topix achieved a third consecutive weekly gain, rising by +1.3% to close at 2,366. Defensive sectors, particularly healthcare, telecoms, and utilities, outperformed
  • Stock Highlights: Nihon Kohden emerged as the top performer with a +19% gain, fuelled by ValueAct Capital Management’s significant shareholding. Conversely, shippers experienced declines.
  • Annual Overview: Topix stood out as one of the best-performing global markets for the year, boasting a remarkable +25% gain. Corporate governance reforms, coupled with yen weakness, were pivotal.

China Precious Metals Buck Weakening Materials Trend

By Steven Holden

  • Rotation in to China Precious Metals stocks pushes ownership to record levels, bucking the trend of overall Materials sector decline.
  • Zijin Mining Group soars to new ownership highs, attracting funds such as RWC, Mirae and TT International over the course of 2023.
  • Second tier stocks showing signs of life, though remain lightly held among investors.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 31
0

Daily Brief Thematic (Sector/Industry): 4 New Deep Value Double Net Net Additions To The Cheap Japanese Basket and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • 4 New Deep Value Double Net Net Additions To The Cheap Japanese Basket
  • 2023 Winners & Losers: Laggards and Rotation Plays for Global Travel/Mobility Stocks

4 New Deep Value Double Net Net Additions To The Cheap Japanese Basket

By Altay Capital

  • I’ve added several deep value names to my Japanese portfolio over the last few months.
  • While there are many net-nets in Japan, the names below are either double net nets or close, meaning if these stocks doubled, they would still be net nets.
  • There are cheaper names in Japan, but I’m filtering a bit for profitability. 

2023 Winners & Losers: Laggards and Rotation Plays for Global Travel/Mobility Stocks

By Mohshin Aziz

  • We compiled the share price movements of 183 global travel/mobility stocks to uncover general trends and identify rotation and laggard plays   
  • Tourist countries like Greece, Spain and Turkey did very well. The U.S. also performed well, almost all names closed the year higher except for those with unique problems  
  • China and anything that is China-focused performed the worst, even companies that delivered great results are not spared and currently trading at cheap valuations 

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 30
0

Daily Brief Thematic (Sector/Industry): [Blue Lotus Daily – TMT Update]: 700 HK/NTES/PDD/VIPS/BABA/JD/ZTO/2618 HK/1519 HK and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • [Blue Lotus Daily – TMT Update]: 700 HK/NTES/PDD/VIPS/BABA/JD/ZTO/2618 HK/1519 HK
  • [Blue Lotus Daily]: NIO/LI/1211 HK/600104 CH/601633 CH/MU/SMIC/1810 HK/981 HK

[Blue Lotus Daily – TMT Update]: 700 HK/NTES/PDD/VIPS/BABA/JD/ZTO/2618 HK/1519 HK

By Ying Pan

  • 700HK/ NTES: NPPA publishes domestic game code for December, NetEase and Tencent received game approval (+)
  • PDD/ VIPS/ BABA/ JD/ ZTO/ 2618.HK/ 1519.HK: Express Parcel Volume collected grows +68% YoY last week (+)
  • BABA/ PDD/ JD/ VIPS/ ZTO/ 1519.HK: Taobao launches refund without returning the product (+/-/-/-/-)

[Blue Lotus Daily]: NIO/LI/1211 HK/600104 CH/601633 CH/MU/SMIC/1810 HK/981 HK

By Eric Wen

  • NIO: NIO launches new ET9 vehicle model at RMB 800K, set for delivery in 2025 (-)
  • MU/ SMIC: Micron and Fujian Jinhua reach legal settlement (+)
  • 1810 HK/ 981 HK: Huawei launches four new Nova devices with two new SoC (-/+)

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 29
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | US Snoozes; More Firms to Delist from TSE and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | US Snoozes; More Firms to Delist from TSE
  • China Property – New Home Sales Growth Less Negative (16 Cities) To Week Ending Dec 24
  • China Property Developers In Distress – Weekly News & Announcements Tracker | Dec 22-28, 2023

Ohayo Japan | US Snoozes; More Firms to Delist from TSE

By Mark Chadwick

  • Overseas: SPX +0.0%, Marginal gains on penultimate trading day. Oil -3%
  • Today: NKY Futs -0.3% v cash. JPY141; JGC to study hydrogen production on moon!
  • Japan: Japanese firms consider delisting to enhance management amid governance reforms, requiring Tokyo Stock Exchange Prime section companies to appoint external directors for increased board independence.

China Property – New Home Sales Growth Less Negative (16 Cities) To Week Ending Dec 24

By Robert Ciemniak

  • The weekly new home sales data indicates a smaller pace of decline for the select 16 major cities with consistent data towards the year-end.
  • Xi’an stands out as an outperformer. Recent policy easing in Beijing and Shanghai may not be fully reflected in the data yet.
  • The small-sample weekly data serves as a good directional indicator as to what to expect in the national figures for the same month (published in the middle of next month).

China Property Developers In Distress – Weekly News & Announcements Tracker | Dec 22-28, 2023

By Robert Ciemniak

  • This note is a weekly curated selection of Chinese news articles and company announcements focused on developers in distress
  • We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
  • We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to sources

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 28
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks Drift Higher; Japan Wage Hikes +5% in 2024 and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Stocks Drift Higher; Japan Wage Hikes +5% in 2024
  • Fragile Vietnamese Real Estate Sector Faces Long Road to Recovery

Ohayo Japan | Stocks Drift Higher; Japan Wage Hikes +5% in 2024

By Mark Chadwick

  • Overseas: SPX +0.1%; Stocks drift higher; 10Y Treasury yield at 3.8%; Biotech stocks surge
  • Today: NKY Futs -0.5% v cash. JPY141.5; Daihatsu Motor could face over ¥100 billion in losses
  • Markets: Japanese business leaders foresee 5% wage hikes in FY24, driving sustained growth.

Fragile Vietnamese Real Estate Sector Faces Long Road to Recovery

By Yanqi Zhu

  • The Vietnamese government is in the midst of a campaign to eradicate corruption in its domestic real estate industry, which has seen bribery and embezzlement amounting to close to 3% of the country’s gross domestic product (GDP).
  • Despite the high-profile corruption cases that have brought the sector’s financing channels to a standstill, the aggregate credit risk profile of the Vietnamese real estate industry has largely improved in recent months, after deteriorating, on the back of widespread monetary policy support from the Vietnamese government.
  • The troubled sector saw a spike in its Criat credit cycle index (CCCI) since the middle of last year when deleveraging efforts for the industry by the Vietnamese government were first announced.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 27
0

Daily Brief Thematic (Sector/Industry): Evidenced Based Analysis of Real Residential Property Price Indices Vs Major Asian Stock Indices and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Evidenced Based Analysis of Real Residential Property Price Indices Vs Major Asian Stock Indices
  • No Sign of Selling Advanced Scanners by ASML to China Customers, Implications
  • [Blue Lotus Daily]: ATAT/600754 CH/1211 HK/LI/XPEV/NIO/ZLAB/ARGX/9995 HK/3692 HK
  • [Blue Lotus Daily – TMT Update]: 700 HK/NTES/BILI/002624 CH/300299 CH/3690 HK/AMZN/PDD/Shein
  • The Highlights – Cannabis News for the Week Ending December 22, 2023

Evidenced Based Analysis of Real Residential Property Price Indices Vs Major Asian Stock Indices

By Douglas Kim

  • We provide evidence based analysis of real residential property price indices in five major Asian countries/regions versus their stock indices including South Korea, China, Hong Kong, Australia, and New Zealand. 
  • Most of the peak in real residential properties of these countries occurred in 3Q 2021 to 1Q 2022.
  • If the real residential property prices continue to drag the overall economy in these major countries, this is likely to have a negative impact on their stock markets next year. 

No Sign of Selling Advanced Scanners by ASML to China Customers, Implications

By Andrew Lu

  • The oversupply of 8″/12″ mature technology and price war especially within China for the next 5 years is inevitable, especially negative for SMIC and Hua Hong Semi.
  • Production moving out of China semi demand might increase to 65-70% in next five years to benefit Globalfoundries, UMC, Vanguard, Powerchip mitigating impacts from rising domestic replacement in China.  
  • By building up in-house fabs, Huawei and HiSilicon supply chain vendors will be benefited the most like semiconductor equipment, material, fab construction, CoWoS interposer, and CoWoS packaging vendors.

[Blue Lotus Daily]: ATAT/600754 CH/1211 HK/LI/XPEV/NIO/ZLAB/ARGX/9995 HK/3692 HK

By Eric Wen

  • ATAT/600754 CH: Hotel industry update – Jinjiang disclose Oct-Nov RevPAR recovered to 105% of 2019, slightly better than industry average.(+)
  • 1211HK/LI/XPEV/NIO: Huawei Harmony Intelligent Mobility Alliance to establish independent stores(-)
  • ZLAB/ ARGX:  Efgartigimod failed two late stage indication trials (-)

[Blue Lotus Daily – TMT Update]: 700 HK/NTES/BILI/002624 CH/300299 CH/3690 HK/AMZN/PDD/Shein

By Ying Pan

  • 700HK/ NTES/ BILI:  The NPPA has released a draft for public opinion on the <Internet Game Governing Measures>(-/-/-)
  • 700HK/ NTES/ 002624CH/ 300299CH/ BILI:NPPA Announced December Imported Game Code Approvals(////+/+/+)
  • AMAZ/ SHEIN/ TEMU: Local merchants reportedly unhappy with some new AI features on Amazon (-/+/+)

The Highlights – Cannabis News for the Week Ending December 22, 2023

By Water Tower Research

  • It was a slightly negative week for most cannabis stocks, with the US-cannabis MSOS ETF dropping 2.11% and the global YOLO ETF ending exactly flat.
  • MSOS was -8.87% for the first four days of the week, then presidential pardons and Schedule III speculation sparked a rally.
  • On Friday, President Biden issued a proclamation to begin pardoning certain cannabis offenses.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 26
0

Daily Brief Thematic (Sector/Industry): China Tourism and Hospitality Industry: Boom in 2024 New Year Travel Demand and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • China Tourism and Hospitality Industry: Boom in 2024 New Year Travel Demand

China Tourism and Hospitality Industry: Boom in 2024 New Year Travel Demand

By Osbert Tang, CFA

  • Data from Trip.com Group (9961 HK) showed good improvement in travel demand for the 2024 New Year holidays. The volume of various orders has surged between 2x and 5x YoY. 
  • Aggregate net profit for the tourism and hospitality sector has turned around to Rmb20.4bn in 3Q23, from losses of Rmb24.7bn a year ago, demonstrating solid profitability recovery.
  • An average of 32% drop in the sector’s share price YTD is unjustified. We like Tongcheng Travel (780 HK), Air China (H) (753 HK) and Fosun Tourism (1992 HK).  

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 25
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | 8 Weeks of Wins; Dear Santa and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | 8 Weeks of Wins; Dear Santa
  • Key 2023 Trends & Themes in Asian Express, Containers, Tourism | Plus A Peak Into 2024

Ohayo Japan | 8 Weeks of Wins; Dear Santa

By Mark Chadwick

  • Overseas: SPX +0.2%; PCE 3.2% v 3.3% exp; Nike -12% on job cuts, tough macro
  • Today: NKY Futs +0.3% v cash. JPY142; Japan approves fiscal budget; Nexon ADR steadies after China game rout
  • Japan: Dalton’s Xmas greetings to management & three shareholder proposals: effective capital allocation, strong alignment of interest, and a board with high independence and diversity

Key 2023 Trends & Themes in Asian Express, Containers, Tourism | Plus A Peak Into 2024

By Daniel Hellberg

  • For segments we cover — express, containers, tourism — 2023 was challenging
  • In this note we highlight each segment’s key trends and themes from 2023
  • We conclude with a look at 2023 share performance and a peak into 2024

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 24
0

Daily Brief Thematic (Sector/Industry): New COVID Variant Is Emerging; Testing and Vaccine Euphoria May Be Back; Keep Your Watchlist Ready and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • New COVID Variant Is Emerging; Testing and Vaccine Euphoria May Be Back; Keep Your Watchlist Ready

New COVID Variant Is Emerging; Testing and Vaccine Euphoria May Be Back; Keep Your Watchlist Ready

By Tina Banerjee

  • A new COVID variant JN.1 is spreading fast. WHO has classified JN.1 as “variant of interest” due to its “rapidly increasing spread.” Thus far, JN.1 has not caused severe infection.
  • Symptoms of JN.1 may not be as mild as Omicron variants. If JN.1 becomes deadlier and more infectious, diagnostics and vaccine players are going to be benefitted primarily.
  • In this insight we have discussed two Asian vaccine companies and one diagnostic company, which should be kept in the watchlist.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Dec 23
0

Daily Brief Thematic (Sector/Industry): Japan Weekly | Shippers and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Japan Weekly | Shippers, Shiseido, Nexon, Sapporo, Glosel
  • [Blue Lotus Daily]: NIO/1211 HK/LI/XPEV/300274 CH/300750 CH/601012 CH/JKS/ LKNCY
  • [Blue Lotus Daily – TMT Update]:NTES/700 HK/Temu/PDD/Shein/AMZN/3690 HK/BABA/JD

Japan Weekly | Shippers, Shiseido, Nexon, Sapporo, Glosel

By Mark Chadwick

  • Market Wrap: Japanese equities edged higher. Easing inflation, BoJ’s dovish stance and Wall Street optimism influenced the market. Industrials and basic materials best sectors. 
  • Major Movers: Shipping disruptions benefit container plays; Shiseido plans reforms to cut ¥40 billion; China’s gaming crackdown hits Tencent, NetEase, triggering concerns for Nexon.
  • Activist Watch: No new activist holdings to report. However, several funds continue to build stakes in existing holdings. 3D Investment Partners drinks up some more Sapporo shares

[Blue Lotus Daily]: NIO/1211 HK/LI/XPEV/300274 CH/300750 CH/601012 CH/JKS/ LKNCY

By Eric Wen

  • NIO/1211 HK：Germany ended EV subsidy, impacting Chinese makers little for now (-)
  • LI/NIO/XPEV/300274 CH/300750 CH/601012 CH/JKS: China customs export data for November (-)
  • LKNCY :  “ Thailand Luckin ” countersues Luckin Coffee  (/)

[Blue Lotus Daily – TMT Update]:NTES/700 HK/Temu/PDD/Shein/AMZN/3690 HK/BABA/JD

By Ying Pan

  • 700 HK/NTES: Tencent’s <Dream Star> achieved excellent results upon its launch.(+/-)
  • Temu/Shein/AMZN: Government newspaper reports that Temu merchants are developing their own brands (+/-/-)
  • 3690 HK: It is rumored that Douyin will acquire Eleme with an offer price of US$7bn(-)

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free