Category

Thematic (Sector/Industry)

Jun 14
0

Daily Brief Thematic (Sector/Industry): AUCTUS ON FRIDAY – 13/06/2025 and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • AUCTUS ON FRIDAY – 13/06/2025
  • [Blue Lotus Daily-TMT Update]:PDD US/700 HK/1439927D CH/1024 HK/BABA US/JD US/NTES US/Gaming Sector
  • [Blue Lotus Daily]:XPEV US/NIO US/New Energy Vehicle/Marco News
  • European Software: Q1 2025 Takeaways – Gradual Improvement

AUCTUS ON FRIDAY – 13/06/2025

By Auctus Advisors

  • Arrow Energy (AXL LN/CN)C; Target price of £0.70 per share: Share buyback programme – Arrow has announced a share buyback programme for up to £2.7 mm worth of shares, representing 5% of the company’s public float.
  • This highlights the strength of the business and the cashflow.
  • Pharos Energy (PHAR LN)C; Target price of £0.45 per share: Licence extension in Vietnam – The exploration period on Blocks 125 & 126 has been extended by two years to November 2027.

[Blue Lotus Daily-TMT Update]:PDD US/700 HK/1439927D CH/1024 HK/BABA US/JD US/NTES US/Gaming Sector

By Ying Pan

  • PDD US: TEMU Surpasses Allegro in User Numbers in Poland in May (+)
  • 700 HK: Reports Claim Tencent is Attempting to Acquire South Korean Game Developer Nexon for $15 Billion (+)
  • 1439927D CH/1024 HK/BABA US/JD US: Douyin Commerce Announces Full “Zero Deposit” Entry for New Merchants (+/-/-/-)

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

By Eric Wen

  • XPEV US:G7 Pre-sale Opens, Priced on the Higher Side (-)
  • NIO US: NIO US Tightens Service Policy Standards (+ )
  • New Energy Vehicle:Major Automakers Commit to Shortening Payment Terms to 60 Days(+)

European Software: Q1 2025 Takeaways – Gradual Improvement

By Gregory Ramirez

  • Software companies see a slow improvement in revenue growth, with Europe narrowing the performance gap. However, growth remains below post-lockdown levels, and a return to high double-digit rates is unlikely.  
  • The best-performing vendors are those focused on defence, large-scale data handling, AI infrastructure, cybersecurity, financial services digitisation, and modern accounting platforms. US firms still lead in absolute growth numbers.   
  • While the number of software M&A deals above USD 200m has declined, total deal value is on track for a record year in 2025, driven primarily by strategic acquirers.

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Jun 13
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Oracle Rallies on AI Demand and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Oracle Rallies on AI Demand
  • Quick Note: 1M HIBOR Decline by 300bps – Implications for Hong Kong Real Estate
  • The Stocks to Own in ASEAN – Vol. 51
  • The Stocks to Own in Asia – Vol. 49
  • Japan Morning Connection: Air India Crash Sends Boing Lower, AMD’s AI Event Fails to Impress

Ohayo Japan | Oracle Rallies on AI Demand

By Mark Chadwick

  • The S&P 500 gained 0.38% to 6,045, sitting less than 2% from its record high
  • Oracle surged 13% after beating earnings expectations and forecasting cloud infrastructure revenue growth exceeding 70% in fiscal 2026, driven by AI demand
  • 3D Investment Partners, a Singapore-based activist fund, increased its Square Enix stake to 9.79%

Quick Note: 1M HIBOR Decline by 300bps – Implications for Hong Kong Real Estate

By Jacob Cheng

  • 1M HIBOR has declined by 300bps to 0.6%, which is a sharp decline. Mortgage rate, which is tied to HIBOR, will have to be adjusted downward
  • Mortgage rate declines, affordability will improve, and there is positive carry.  Developers will enjoy lower borrow cost and better earnings. 100bps change in rates leads to 2% earnings impact
  • However, the HIBOR decline can reverse, if capital flow changes and affects HKMA’s aggregate balance.  US/China interest rate movements and geo-political risks also have to be monitored closely

The Stocks to Own in ASEAN – Vol. 51

By Dr. Andrew Stotz, CFA

  • We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
  • Portfolio changes: Five stocks remain, nine stocks added into portfolio
  • Since its inception, the portfolio has generated a before-fee total return of 264% versus MSCI ASEAN’s 46%

The Stocks to Own in Asia – Vol. 49

By Dr. Andrew Stotz, CFA

  • We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
  • Portfolio changes: All fourteen stocks have changed in the portfolio
  • Since its inception, it has generated a before-fee total return of 262% versus the MSCI Asia ex Japan of 110%

Japan Morning Connection: Air India Crash Sends Boing Lower, AMD’s AI Event Fails to Impress

By Andrew Jackson

  • Oracle’s good numbers pulling AI and DC related names up, while Samsung failing its NVDA HBM certification (again) positive for Micron.
  • Tencent is back at the table looking to bid for Nexon, whose outstanding short interest could see a rapid squeeze.
  • All the good news out for Konami? Looks like it after their even last night with further upside catalysts lacking.

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Jun 12
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Oil Surges on Mideast Tensions and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Oil Surges on Mideast Tensions
  • Japan Morning Connection: Rumors Micron May Lift DDR4 Prices Lifts Sentiment for All Things Memory
  • China’s Banks: The Quiet Bull Market No One’s Watching
  • #161 India Insights: India Eyes Rare Earth Push; IndusInd’s Prerequisites from RBI, Insulin Scale Up
  • [Blue Lotus Daily]:1211 HK/LI US/ NIO US/XPEV US/1810 HK/CHA US/2589 HK/2555 HK/Macro
  • Rare Earth Export Curbs from China: Assessing the Risk for India’s Auto Industry
  • [Blue Lotus Daily-TMT Update]:700 HK/1439927D CH/1024 HK/BABA US/1211 HK/3690 HK/1519 HK/E-Commerce

Ohayo Japan | Oil Surges on Mideast Tensions

By Mark Chadwick

  • Stocks ended lower Wednesday as the S&P 500 slipped 0.27% to 6,022; weaker-than-expected May inflation data
  • U.S. crude surged over 5% following reports of a planned partial evacuation of the U.S. embassy in Iraq amid growing Middle East tensions.
  • Treasury Secretary Bessent said the U.S. will likely extend tariff pause for countries negotiating in good faith, amid ongoing trade talks and deals.

Japan Morning Connection: Rumors Micron May Lift DDR4 Prices Lifts Sentiment for All Things Memory

By Andrew Jackson

  • Intel relief rally didn’t last, but Broadcom rebounded after a week of selling despite Apple weakness.
  • Oracle is 7% in late-trading after posting very bullish cloud and cloud infra guidance.
  • Record sales for Nintendo’s Switch2 console not enough to keep stock moving higher.

China’s Banks: The Quiet Bull Market No One’s Watching

By Rikki Malik

  • The stealth bull market in HK listed Chinese banks continues.
  • While the negatives are well known, the positives are underappreciated
  • We tweak the basket of bank stocks after they report Q1 results

#161 India Insights: India Eyes Rare Earth Push; IndusInd’s Prerequisites from RBI, Insulin Scale Up

By Sudarshan Bhandari

  • India aims to localize rare earth magnet production to protect its EV and tech sectors, reduce import reliance, and support long-term industrial and investment growth.
  • Hinduja Group must meet key conditions set by RBI for capital infusion in Indusind Bank (IIB IN) , including revocation of pledged shares and appointing board representatives.
  • Biocon Ltd (BIOS IN) , Eris Lifesciences (ERIS IN) , Wockhardt Ltd (WPL IN) scale up insulin output and capturing new growth in diabetes and obesity care markets.

[Blue Lotus Daily]:1211 HK/LI US/ NIO US/XPEV US/1810 HK/CHA US/2589 HK/2555 HK/Macro

By Eric Wen

  • Macro: Central Government Focuses on Improving People’s Livelihoods to Stimulate Consumption, But Short-term Impact Unlikely(+)
  • Macro: Our Take on the Chinese Government Housing Provident Fund 2024 Annual Report(/)
  • 1211 HK/LI US/ NIO US/XPEV US/1810 HK: 2025 June 2 – June 8 NEV Delivery Rankings(/)

Rare Earth Export Curbs from China: Assessing the Risk for India’s Auto Industry

By Nimish Maheshwari

  • India’s automotive sector is facing a new external risk: China’s recent tightening of rare earth element (REE) export restrictions.
  • While the short-term impact appears contained, particularly for ICE 2Ws/3Ws, passenger vehicles—both ICE and EV—are the most exposed
  • Indian OEMs are actively engaging with Chinese authorities and India’s Ministry of External Affairs to seek interim solutions, and a resolution is expected within 2–3 weeks.

[Blue Lotus Daily-TMT Update]:700 HK/1439927D CH/1024 HK/BABA US/1211 HK/3690 HK/1519 HK/E-Commerce

By Ying Pan

  • 700 HK: Tencent First Reveals Its Open-World ACGN Game <Return to the Loop>(+)
  • 1439927D CH/1024 HK:ByteDance to Launch New DouBao Video Generation Model Tomorrow (+/-)
  • 1439927D CH: ByteDance Announces Expansion of TikTok Investment in the UK (+)

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Jun 11
0

Daily Brief Thematic (Sector/Industry): No and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • No, Hong Kong Won’t Abandon The Peg
  • Ohayo Japan | Wall Street Rises on Trade Optimism
  • Charted Insights: Capex Revival in India Inc; Which Sectors Are Leading the Investment Cycle?
  • Japan Morning Connection: Trump Signals End to Biden Greenhouse Gas Emission Restrictions
  • Biopharma Week in Review Large M&A and Licensing Deals Provide a Boost
  • Furniture/Furnishings Weekly – GenAI Adoption Rates
  • Sustainable Investing Surveyor Focus on Aemetis (AMTX)

No, Hong Kong Won’t Abandon The Peg

By David Blennerhassett

  • A Bloomberg op-ed piece on the 5th June concludes it is time to move on from “from an archaic currency regime“. That conclusion appears presumptuous. And uninformed.
  • A key tenent of this piece is that HK’s benchmark interest rates are (or were) significantly – and stubbornly – lower than US rates. Yet this “anomaly” is easily explained.
  • The article fails to discuss the impact from CATL (3750 HK)‘s IPO on the peg;  and even what would replace the peg (IF it were replaced).

Ohayo Japan | Wall Street Rises on Trade Optimism

By Mark Chadwick

  • Stocks rose Tuesday as optimism over U.S.-China trade talks; S&P 500 advanced 0.55% and the Nasdaq climbed 0.63%
  • Toyota and Daimler Truck have signed a business integration agreement for their subsidiaries Hino Motors and Mitsubishi Fuso Truck and Bus Corporation.
  • Honda will invest in Rapidus to secure domestically produced cutting-edge semiconductors for next-generation vehicles

Charted Insights: Capex Revival in India Inc; Which Sectors Are Leading the Investment Cycle?

By Nimish Maheshwari

  • Corporate India’s capex momentum is showing a healthy revival, marking a significant shift from the risk-averse investment behavior seen post-COVID.
  • Based on FY25 data from 1,393 listed companies (excluding banks and NBFCs), total gross fixed assets rose 7.6% year-on-year to ₹28.5 lakh crore – the strongest expansion in recent years.
  • This increase signals renewed investment intent across infrastructure, manufacturing, and select consumption-facing sectors

Japan Morning Connection: Trump Signals End to Biden Greenhouse Gas Emission Restrictions

By Andrew Jackson

  • Hydrocarbon related names traded well with Trump set to remove limits on carbon and mercury emissions…watch MHI, Yokogawa and Chiyoda.
  • Intel +7.8% may help Ibiden, Micron +2.9% positive for Micronics, while semi-cap and power-semi’s continued to move up.
  • Lock-Up expiry for Kioxia fast approaching could see shorts increase in a Kokusai Elec type situation.

Biopharma Week in Review Large M&A and Licensing Deals Provide a Boost

By Water Tower Research

  • M&A and deal activity provided a much-needed tailwind for biotech last week.
  • Exiting a positive, but mostly expected, ASCO weekend, we witnessed the second-largest biotech acquisition in 2025, with SNY buying BPMC for $9.1 billion, and a mega-licensing deal, as BMY will pay up to $11.1 billion for co- rights to BNTX’s PD-1/VEGF (read-across to TIL, SMMT, PFE, MRK).
  • Gene and cell therapy (NTLA, BEAM, CRSP) got a boost, as the heads of the HHS, FDA, CBER, NIH, and CDC expressed support for faster rare disease approvals at an FDA roundtable. 

Furniture/Furnishings Weekly – GenAI Adoption Rates

By Water Tower Research

  • Risk on as markets anticipate progress on trade deals.
  • The WTR Commercial/Contract Furniture Index gained 1.8%, the Residential Manufacturers & Suppliers Index was up 3.1%, and the Home Goods Retailers Index increased 2.5%, while the large- cap indices gained 1.1% and the R2K was up 3.0%.
  • GenAI discussions on quarterly earnings calls are taking off as the technology (and adoption rates) continues to advance at a rapid clip (1), at least for the S&P 500 (Figure 1).

Sustainable Investing Surveyor Focus on Aemetis (AMTX)

By Water Tower Research

  • The WTR Sustainable Index was up 1.8% W/W versus the S&P 500 Index (up 1.5%), the Russell 2000 Index (up 3.2%), and the Nasdaq Index (up 2.0%).
  • Energy Technology (12.8% of the index) was up 5.2%, while Industrial Climate and Ag Technology (47.9% of the index) was up 1.9%, ClimateTech Mining was up 0.1%, and Advanced Transportation Solutions (21.0% of the index) was up 1.3%.
  • Top 10 Performers: LEV, SPWR, BNRG, LOOP, VVPR, IRBT, FCEL, TGEN, FNI, ZAPP

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Jun 10
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Markets Mixed as U.S.-China Talks Begin and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Markets Mixed as U.S.-China Talks Begin
  • US Banks – Loan Loss Reserves Stagnating On Weekly Basis, Indicator of Benign Credit Metrics
  • Low Critical Metal Prices Affect Capital Raising Strategies of Resource Developers
  • Thematic Report : Impact of Rate Cuts on Profitability of NBFCs and HFCs in India
  • Monday Delight: 09/06/25
  • #160 India Insight: Adani Energy ₹6K Cr+ Inv, Tata Apple Repair, Maruti Suzuki Solar Boost
  • US EV Charging Infrastructure Tracker – May 2025

Ohayo Japan | Markets Mixed as U.S.-China Talks Begin

By Mark Chadwick

  • Markets posted mixed results Monday as U.S.-China trade talks commenced in London
  • Semiconductor stocks rallied, led by Qualcomm surging over 4% on its $2.4 billion Alphawave acquisition
  • Microsoft unveiled its first Xbox-branded handheld gaming devices, the ROG Xbox Ally

US Banks – Loan Loss Reserves Stagnating On Weekly Basis, Indicator of Benign Credit Metrics

By Daniel Tabbush

  • US banks HFD in Fed H8 weekly release suggests strong income for US banks
  • LLR stagnating weekly basis for a long time, suggesting little incremental credit costs
  • LDR also expanding, with low growth of high costs deposits, 2Q25 profit can be strong

Low Critical Metal Prices Affect Capital Raising Strategies of Resource Developers

By Water Tower Research

  • On the latest WTR Small-Cap Spotlight, we were joined by Howard Klein, Founder of RK Equity and a leading lithium industry expert, to discuss the current state of the critical metal markets, the impact of low metal prices on public company valuations, and challenges both public and private resource developers are experiencing in raising capital required to move mining projects into commercial production.
  • Lower metal prices constrain the ability to use equity to raise capital.
  • The persistently low prices of lithium, nickel, cobalt, and graphite, among others, in the wake of the post- destocking price bubble have resulted in lower stock prices of metal miners, processors, and developers.

Thematic Report : Impact of Rate Cuts on Profitability of NBFCs and HFCs in India

By Nimish Maheshwari

  • During rate cut cycle, NBFCs with a higher proportion of floating-rate liabilities & a relatively lower proportion of floating-rate assets are poised to experience an expansion in their profitability.
  • This insight analyzes the asset-liability profiles of select Vehicle Financiers, Prime HFCs, and Affordable HFCs to identify their sensitivity to interest rate movements
  • Overall, NBFCs expect the benefit of the rate cut to have a lagged effect from H2FY26, leading  expansion in NIM and overall profitability

Monday Delight: 09/06/25

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.

#160 India Insight: Adani Energy ₹6K Cr+ Inv, Tata Apple Repair, Maruti Suzuki Solar Boost

By Sudarshan Bhandari

  • Adani Energy Solutions (ADANIT IN) plans INR 6,000 crore investment in centralised cooling, launching India’s largest facility at Mundra and expanding aggressively across sectors with CaaS model. 
  • Apple (AAPL US) appoints Tata to handle iPhone and MacBook repairs in India, reflecting growing confidence and Tata’s expanding role in Apple’s supply chain.
  • Maruti Suzuki India (MSIL IN) plans Rs 925 crore investment to expand solar capacity to 319 MWp by 2031, aligning with India’s renewable energy goals and sustainable growth.

US EV Charging Infrastructure Tracker – May 2025

By Garvit Bhandari

  • Total public EV charging stations (incl. temporary unavailable locations) were 77,646 as of May 31, 2025. Compared to the end of FY24, it is an increase of 3.5%.
  • Total EV charging ports (including the temporary unavailable ports) were 221,045, up nearly 6.9% compared to the end of 2024 and up 0.4% over April 2025
  • California has the highest number of active DC Fast ports as of May 2025 at 14,499 (~26% of the total), followed by Texas at 3,757.

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Jun 09
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks up on Jobs Data and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Stocks up on Jobs Data
  • Japan Morning Connection: Meta’s $10bn Scale AI Investment to Buoy Sentiment for SPE

Ohayo Japan | Stocks up on Jobs Data

By Mark Chadwick

  • US stocks rallied Friday after stronger-than-expected nonfarm payrolls data eased slowdown fears
  • Fifty Japanese companies received activist proposals at June shareholder meetings, the highest number on record,
  • Takeda Pharmaceutical faces opposition from Institutional Shareholder Services (ISS) against reappointing CEO

Japan Morning Connection: Meta’s $10bn Scale AI Investment to Buoy Sentiment for SPE

By Andrew Jackson

  • NFP beat sends yields higher, sending US homebuilders down, positive JP banks.
  • Big week for Renesas should also see more upside for Rohm and Fuji Elec with Auto/industrial inflection.
  • Capcom announced its latest Resident Evil installment at the SGF, but further upside looks limited.

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Jun 09
0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks up on Jobs Data and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • Ohayo Japan | Stocks up on Jobs Data
  • Japan Morning Connection: Meta’s $10bn Scale AI Investment to Buoy Sentiment for SPE

Ohayo Japan | Stocks up on Jobs Data

By Mark Chadwick

  • US stocks rallied Friday after stronger-than-expected nonfarm payrolls data eased slowdown fears
  • Fifty Japanese companies received activist proposals at June shareholder meetings, the highest number on record,
  • Takeda Pharmaceutical faces opposition from Institutional Shareholder Services (ISS) against reappointing CEO

Japan Morning Connection: Meta’s $10bn Scale AI Investment to Buoy Sentiment for SPE

By Andrew Jackson

  • NFP beat sends yields higher, sending US homebuilders down, positive JP banks.
  • Big week for Renesas should also see more upside for Rohm and Fuji Elec with Auto/industrial inflection.
  • Capcom announced its latest Resident Evil installment at the SGF, but further upside looks limited.

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Jun 08
0

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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Jun 07
0

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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Jun 06
0

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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