Thematic (Sector/Industry)

RHB and DBS maintain ‘neutral’ outlook on Wilmar despite strong 2QFY2026 results.
Analysts remain optimistic about Frencken’s outlook for the strong second half.
Analysts remain optimistic on Singtel after 1QFY2027 earnings exceeded forecasts.

AUCTUS ON FRIDAY – 14.08.2026

By Auctus Advisors

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Well test update in Austria – The pressure build up analysis of first Hall zone at HOCH-1 indicates good reservoir productivity (3.5 mmcf/d potential) with a sand extent of at least 600 metres from the HOCH-1 wellbore.
Recently reprocessed pre stacked depth migrated 3D seismic mapping of the Hall Channel Sands intersected in the deeper section of the HOCH-1 well have been correlated to nearby wells (2.5-3.0 km away) indicating the potential for a large lateral extension of several sand bodies planned to be tested during the remaining program.
A Hall sand and a Hall Channel sand will be tested during the remaining phase 1 test program later this month.

Asia Real Estate Tracker (14-Aug-2026): GIC funds $318M purchase of Sydney tower by Investa.

Singapore’s GIC has provided financing for Investa’s acquisition of a Sydney tower valued at $318 million.
Singapore’s CDL reported a significant profit increase, tripling to $236 million in the first half due to completed projects.
CapitaLand Investment identified potential asset sales worth up to $7 billion, with a 14% rise in H1 profit.

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Aug 14

0

Daily Brief Thematic (Sector/Industry): Japan Morning Connection: Liberware and Terradrone Stand to Gain as US Targets Chinese Drone Makers and more

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

In today’s briefing:

Japan Morning Connection: Liberware and Terradrone Stand to Gain as US Targets Chinese Drone Makers
Indonesia Beauty & Personal Care E-Commerce 2026 | Cube
Where Is the True Value in the Optics Trade? A Comparison of 3 ETFs
Marina Bay & Bugis Reimagined: Unlocking Value Across Singapore’s Core City Belt
Exencial Industry Tidings 13-8-26
Asia Real Estate Tracker (13-Aug-2026): Digital Realty trades Asia assets for US data centers.
Singapore Market Roundup (13-Aug-2026): OCBC and CGSI maintain buy ratings for Info-Tech Systems.
AI Flow Private Pools Newsletter : Exploring Private Company Valuations in AI – Aug 13, 2026

Japan Morning Connection: Liberware and Terradrone Stand to Gain as US Targets Chinese Drone Makers

Kioxia likely to see another strong day after Sandisk was +13.7% after announcing positive long-term guidance.
SPE may face pressure after AMAT’s guidance beat failed to impress despite topping estimates.
Liberware and Terradrone may gain a competitive edge after new US tariffs target Chinese drone makers at up to 100%.

Indonesia Beauty & Personal Care E-Commerce 2026 | Cube

By Simon Torring

Indonesia’s Beauty & Personal Care e-commerce category grew 27% year on year in 2025 to roughly 137 trillion IDR across the three platforms Cube tracks inTradewinds: Shopee, TikTok Shop, and Lazada.
Shopee still holds the largest share, but TikTok Shop has nearly caught up, closing to 47% against Shopee’s 50% in Q1 2026.
Here is what the data says about the platforms, the brands, and the tactics defining the category.

Where Is the True Value in the Optics Trade? A Comparison of 3 ETFs

By Raghav Vashisht

Three distinct ways to play AI bandwidth. LAZR buys upstream components, LYTE buys transceiver assembly, and EUV buys the semiconductor capital stack.
Our holdings analysis shows LAZR’s equal-weighted and current-weighted returns aligned efficiently, while LYTE’s complex leverage and cash positioning blunted its upside.
EUV provides diversified capex exposure, sacrificing pure-play optics for a highly balanced bet on the broader semiconductor manufacturing system required for AI scale-out.

Marina Bay & Bugis Reimagined: Unlocking Value Across Singapore’s Core City Belt

By 8VantEdge

Singapore’s core city belt has evolved into a single continuous live-work-play corridor, functioning as one integrated asset base rather than a set of separately planned districts.
Three converging forces are driving this transition: (1) constrained Grade A office supply in Marina Bay and the wider CBD; (2) improving transport and pedestrian connections across Marina Bay, Marina Centre, Beach Road and Bugis; and (3) the continued development of Bugis as a mixed-use arts, cultural and educational district.
Together, these trends support viewing the corridor as a single investment ecosystem, where the value of individual assets is increasingly influenced by the strength of the surrounding precinct.

Exencial Industry Tidings 13-8-26

By Viral Kishorchandra Shah

Exports grew by 15% during Apr-Jul 2026, says Piyush Goyal
Inspectors seize 18,000 boxes of Diageo liquor bottles in food safety crackdown Indian inspectors
Opening stocks of cotton for 2026-27 likely to be at record-high of 9.3 mln bales

Asia Real Estate Tracker (13-Aug-2026): Digital Realty trades Asia assets for US data centers.

Digital Realty is exchanging its Singapore and Osaka assets for US data centers via a REIT deal.
Warburg Pincus and Kio are working to raise $1.8 billion for a living portfolio emphasizing student housing.
GDS-linked DayOne has filed for a $5 billion IPO in the US, reflecting trends in Asia-Pacific real estate.

Singapore Market Roundup (13-Aug-2026): OCBC and CGSI maintain buy ratings for Info-Tech Systems.

OCBC and CGSI keep buy recommendations for Info-Tech Systems.
Maybank rates Info-Tech Systems as a ‘buy’ at $1.46.
DBS keeps ‘hold’ rating and $1 target for Delfi.

AI Flow Private Pools Newsletter : Exploring Private Company Valuations in AI – Aug 13, 2026

WTR AI Flow Private Pools Index update. Using data from PM Insights, we track private AI company valuations and created a market value-weighted WTR AI Flow Private Pools Index.
As of 8/10/26, the index had 43 active constituents and a total market value of $2.86 trillion.
The two largest constituents are Anthropic (46%) and OpenAI (33%). Note, these valuations reflect recent secondary-market bids and offers rather than a completed financing round.

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Aug 13

0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | AI Earnings Fuel Tech Rally as CPI Keeps Fed Patient and more

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

In today’s briefing:

Ohayo Japan | AI Earnings Fuel Tech Rally as CPI Keeps Fed Patient
CHINA/HK: AI & RX – Together At Last !!
Japan Morning Connection: QD Laser May Recover From Earnings Miss on Positive Lumentum Read-Through
Asia Real Estate Tracker: Hillhouse and Partners Buy Singapore Office Blocks for $144M.
Quick Commerce in India: The Shift Towards Sustainable Growth
Singapore Market Roundup (07-Aug-2026): Broker’s Digest: Hongkong Land, Apac Realty, Lum Chang,
Singapore Market Roundup (12-Aug-2026): Maybank initiates ‘buy’ on Info-Tech Systems at $1.46.
Energy Roundup : 1H26 M&A Overview; No Strait of Hormuz Reopening Deal in Sight
What’s News in Amsterdam – 12 August (ABN Amro)

Ohayo Japan | AI Earnings Fuel Tech Rally as CPI Keeps Fed Patient

CoreWeave, Nebius and Super Micro all delivered exceptional growth, backlogs and/or guidance, reinforcing the strength of the AI capex cycle; their shares surged 19–32%.
US July CPI met expectations, allowing the Fed to remain patient and supporting tech equities, while markets still retain some probability of year-end tightening.
Japan Machine-tool orders rose 50% YoY, led by semiconductors and data centres

CHINA/HK: AI & RX – Together At Last !!

By David Mudd

China’s AI-driven drug discovery (AIDD) sector is growing rapidly, with leading drug and biotech companies entering R&D and drug-development partnerships with global pharmaceutical companies.
Over 30% of new drugs were developed using AI tools in 2025, with discovery timelines reduced by 25–50%, and the industry is projected to grow by 25%/year through 2033.
Insilico Medicine (3696 HK) is a pure-play AIDD company. Insilico operates an end-to-end AI drug discovery platform (Pharma.AI) spanning target identification, molecule generation, and clinical trial outcome prediction.

Japan Morning Connection: QD Laser May Recover From Earnings Miss on Positive Lumentum Read-Through

QD Laser, Seiko Giken and Santec may see gains after Lumentum’s strong beat lifted optical peers.
Kioxia is set for more of a rebound as memory rallied overnight, with the stock still forming a base after a 68% drawdown from June highs.
From its May highs.Astroscale may see some recovery after SpaceX’s +9.6% overnight gain, with the stock still down 57% from its May highs.

Asia Real Estate Tracker: Hillhouse and Partners Buy Singapore Office Blocks for $144M.

Hillhouse, in collaboration with Hulic and Risa, has acquired office blocks in Singapore for $144 million.
CapitaLand Ascott Trust has purchased a co-living asset from Coliwoo for a total of $105 million.
GIC is actively seeking buyers for $1 billion in stakes in private equity funds in the region.

Quick Commerce in India: The Shift Towards Sustainable Growth

By Sudarshan Bhandari

Blinkit’s Q1 FY27 NOV grew 86% YoY with 0.6% adjusted EBITDA margin, while Instamart contribution margin improved 440 bps YoY to -0.2% and Zepto’s orders/store/day surged 50% YoY. .
The operating debate is shifting from delivery speed and gross store additions to customer density, per-store throughput, advertising income, assortment depth and contribution per order.
Zepto has the strongest throughput momentum but the largest disclosed loss pool. Instamart is making credible margin progress, although recent volume and store-productivity growth is less aggressive.

Singapore Market Roundup (07-Aug-2026): Broker’s Digest: Hongkong Land, Apac Realty, Lum Chang,

Broker’s Digest: Hongkong Land, Apac Realty, Lum Chang, Jardine C&C, UI Boustead REIT
JP Morgan’s initial take: strong beat, raised guidance, but big 3x book discounts.
Tuan Sing’s net profit fell 75% year-on-year in 1HFY2026.

Singapore Market Roundup (12-Aug-2026): Maybank initiates ‘buy’ on Info-Tech Systems at $1.46.

Maybank starts ‘buy’ rating for Info-Tech Systems at $1.46.
DBS keeps ‘hold’ recommendation and $1 target price for Delfi.
DBS maintains MoneyMax valuation at $1.13 without a rating change.

Energy Roundup : 1H26 M&A Overview; No Strait of Hormuz Reopening Deal in Sight

US oil & gas E&P M&A activity was down markedly in 2Q26 versus 1Q26.
The US upstream M&A deal value declined to $9.1 billion in 2Q26, a 76% drop compared with 1Q26 and also recorded the third-lowest quarterly total since 2020 (despite the Iran war-driven oil price volatility).
Public E&P operators remained the dominant buyers during the quarter, including the Talos Energy & Ridgewood deal to acquire Shell Gulf of America deepwater assets for $1.7 billion and Diversified Energy’s $1.2 billion deal for Camino Natural Resources and its Oklahoma Anadarko Basin assets (see Figure 1 for the top five deals in 2Q26).

What’s News in Amsterdam – 12 August (ABN Amro)

By The IDEA!

ABN Amro’s 2Q26 results came in clearly better than expected.
Both NII and net fee & commission income showed a clear beat of consensus.
Total costs were lower, both YoY and when compared with consensus, despite a bigger than expected increase in personnel expenses.

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Aug 12

0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks Slip Ahead of CPI as Energy Outperforms and more

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

In today’s briefing:

Ohayo Japan | Stocks Slip Ahead of CPI as Energy Outperforms
Japan Morning Connection: Intel’s Upsized Share Offering May Lift Suppliers Lasertec, Screen and TOK
Japan Autos: The Weak Yen Illusion in Q1 FY2027 — Toyota, Honda, Nissan, Subaru, Mazda, Suzuki
LAZR: When a Photonics ETF Becomes a Private AI Wrapper
Venture Capital – An AI- Powered Revival
India Quick Commerce Monthly – Economics Takes Center Stage
Singapore Market Roundup (11-Aug-2026): DBS, PhillipCapital maintain ‘buy’ on Elite UK REIT post
Asia Real Estate Tracker (11-Aug-2026): Cbus Property buys Aussie mall for $919M from Lendlease.
Exencial Industry Tidings- 11-08-2026
Secondaries – Life After the Honeymoon

Ohayo Japan | Stocks Slip Ahead of CPI as Energy Outperforms

US indices ended the day with slightly lower, with SPX -0.3% and Nasdaq -0.6%.
Traders await US CPI on Wednesday, which will be key in shaping expectations for the September FOMC meeting.
On Holding shares fell 19% after weaker-than-expected wholesale sales, prompting lower 2026 guidance

Japan Morning Connection: Intel’s Upsized Share Offering May Lift Suppliers Lasertec, Screen and TOK

Intel’s upsized $20bn share offering points to increased capex plans, a positive for Japanese SPE and its main suppliers.
Interesting news that SpaceX is chasing the low-band spectrum with comments to the FCC that it looks to “advance rapid, widespread deployment of flexible broadband spectrum resources”.
Kioxia may feel slight pressure with news its Y800bn buyback has concluded.

Japan Autos: The Weak Yen Illusion in Q1 FY2027 — Toyota, Honda, Nissan, Subaru, Mazda, Suzuki

By Mo Aziz

Currency drove a third or more of earnings at key Japanese automakers, but the market rewarded headline growth instead of earnings quality.
Nissan and Suzuki improved on largely unaided fundamentals, while Honda and Subaru are priced for more than they delivered.
The quarter was less about who beat expectations than who generated earnings without relying on the weak yen.

LAZR: When a Photonics ETF Becomes a Private AI Wrapper

By Raghav Vashisht

Tema’s LAZR launched as a photonics basket but quickly added Anthropic SPV exposure. This position plunged from 12.06% to under 5.0% in three weeks, highlighting private-asset ETF volatility.
Daily ETF liquidity does not make the underlying SPV liquid. Moreover, Anthropic publicly prohibits SPVs from acquiring its stock, raising questions about the exact legal claim LAZR holds.
Research partner SemiAnalysis now spans market-moving CPO research, ETF product design, along with a newly filed venture fund. This expanding footprint creates a high bar for disclosure and governance.

Venture Capital – An AI- Powered Revival

By The Fund Review

The Venture Capital sector is emerging as one of the clear winners of the AI revolution, reversing a troubled outlook in the wak e of interest rate hikes in 2022.
Huge demand for the next gener ation of AI powered tech firms. Is leading to a scale of funding for both companies and funds that is transform ing the complexion of the asset class.
Performance has been excellent and semi -liquid funds following Venture Capital and Growth strategies have de livered substantial outperformance v ersus their investment trust counterparts.

India Quick Commerce Monthly – Economics Takes Center Stage

By Garvit Bhandari

The five largest players added 900 dark stores between April-July 2026, but unique pin codes served rose just 152, the expansion is now about density and overlap, not new geography
Blinkit turned adjusted EBITDA positive in Q1 FY27 (INR 1,020 million) while Swiggy Instamart’s contribution margin reached near breakeven at -0.2% of GOV; profitability is finally converging with scale.
Zepto deferred its IPO by two quarters on valuation pushback and is raising INR 1,000cr pre-IPO at a US$4.5 billion mark, below its US$5bn last round.

Singapore Market Roundup (11-Aug-2026): DBS, PhillipCapital maintain ‘buy’ on Elite UK REIT post

DBS and PhillipCapital keep ‘buy’ on Elite UK REIT after 1HFY2026 results.
Lim & Tan starts coverage on Sasseur REIT, targeting a price of 91 cents.
DBS and CGSI boost YZJ Shipbuilding targets after record earnings and high margins.

Asia Real Estate Tracker (11-Aug-2026): Cbus Property buys Aussie mall for $919M from Lendlease.

Cbus Property plans to acquire a stake in an Australian shopping mall for $919 million from Lendlease.
Samsung SRA has sold the Gangnam Tower in South Korea to a non-profit organization for $314 million.
IOI Properties has received conditional approval for a substantial $1.9 billion REIT in the latest updates.

Exencial Industry Tidings- 11-08-2026

By Viral Kishorchandra Shah

ISMA, NFCSF urge govt to exempt sugar from mandatory jute packaging
FAIFA expresses concern over Tobacco Board’s decision to reduce crop size
Winsome Textile Inds.’ sales up by 6.9% in June 2026 quarter

Secondaries – Life After the Honeymoon

By The Fund Review

Secondaries funds tend to deliver their strongest performance at the start of their life reflecting the acqusition of discounted assets that are large relative to the standing portfolio
Over the long -term, performance from secondaries funds trend s down a slower pace but they have delivered excellent returns over a long holding period.
The slow pace of portfolio exits from traditonal, drawdown funds continues to make the secondaries market a useful source of liquidity for Limited Partners . Investors providing capital into this market are benefitting from a wide range of buying options and attractive pricing creating conditions for strong forward -looking returns.

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Aug 11

0

Daily Brief Thematic (Sector/Industry): India QSR: Turnaround in Sector After 2 Years of Lag! and more

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

In today’s briefing:

India QSR: Turnaround in Sector After 2 Years of Lag!
Asia Real Estate Tracker (10-Aug-2026): IOI Properties Secures Approval for $1.9B REIT Deal
CR Land & The C-REIT Gold Rush: Monetizing Malls for Massive Re-Rating
US EV Charging Infrastructure Tracker – July 2026: Momentum Builds, But the 2030 Gap Persists

India QSR: Turnaround in Sector After 2 Years of Lag!

By Nimish Maheshwari

Q1 FY27 delivered positive SSSG/LFL for six of seven tracked brand KPIs. Burger King India led at 12.6%.
The recovery is largely transaction- and guest-count-led, creating better operating leverage than a price-only growth cycle.
Raw store additions are no longer enough. Investors should track mature-store sales, closure quality and pre-Ind AS restaurant margins together.

Asia Real Estate Tracker (10-Aug-2026): IOI Properties Secures Approval for $1.9B REIT Deal

IOI Properties has secured conditional approval for a $1.9 billion Real Estate Investment Trust, marking a significant development in the APAC real estate market.
Japan’s Government Pension Investment Fund reported a record $152 billion gain due to a stock market rally, showcasing the financial strength in the region.
UAE’s Mubadala is pursuing a $6.3 billion data center project in Japan, indicating robust investment activity in the real estate sector across Asia.

CR Land & The C-REIT Gold Rush: Monetizing Malls for Massive Re-Rating

By Jacob Cheng

China’s C-REIT expansion unlocks massive liquidity, allowing heavy-asset developers to monetize illiquid retail properties and drastically de-lever balance sheets.
CR Land is the sector gold standard, targeting a CNY 60 bn public REIT portfolio and pivoting to generate over 50% profit from recurring income.
A compelling yield spread between 5% C-REIT distributions and 1.70% government bonds drives institutional capital inflows, triggering a profound equity re-rating.

US EV Charging Infrastructure Tracker – July 2026: Momentum Builds, But the 2030 Gap Persists

By Garvit Bhandari

US public EV charging stations reached 83,519 as of July 31, 2026 (up 4.1% versus end-FY25), with total EVSE ports at 258,754, up 6.9% from end-2025 and 1.4% month-over-month
Active DC Fast ports rose 1.8% month-on-month to 74,343, reversing June’s dip; California leads with 24.5% of DC Fast ports, while Tesla commands 50.6% of the US DC Fast base
NREL sees a need for 1.0 million Level 2 chargers and 182,000 DC Fast points by 2030, at current growth rates, the US is likely to fall short.

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Aug 10

0

Daily Brief Thematic (Sector/Industry): This Week in AI (Aug 2-8): MiniMax H3 Led Video AI; DeepSeek Raises Price and Resumes Funding and more

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

In today’s briefing:

This Week in AI (Aug 2-8): MiniMax H3 Led Video AI; DeepSeek Raises Price and Resumes Funding
Ohayo Japan | S&P 500 Hits Record Close as Semiconductors Rally
SEMICONDUCTOR MEMORY CYCLE MONITOR — Issue #5 | 1-8 Aug 2026
Berkshire Buying Back Stock = Stock Undervalued!

This Week in AI (Aug 2-8): MiniMax H3 Led Video AI; DeepSeek Raises Price and Resumes Funding

By Ke Yan, CFA, FRM

We tracked AI models, infrastructure, and M&A this week: MiniMax H3 topped video editing while DeepSeek moved toward higher API pricing.
China labs are active: Alibaba launched Qwen3.8-Max, Tencent expanded Hy3, ByteDance accepted a frontier gap, and Kimi K3 escaped a test sandbox.
Infrastructure and financing: memory makers expanded capacity, CoreWeave and Microsoft added data centers, and Switch filed for a US IPO.

Ohayo Japan | S&P 500 Hits Record Close as Semiconductors Rally

US stocks extended gains: The S&P 500 rose 3.6% for the week to a record close above 7,700, while the Nasdaq surged 5.2%, marking a second consecutive weekly gain
Tech shares rallied on earnings: Software, Cloudflare, Atlassian, and Airbnb gained following upbeat earnings and forecasts, easing concerns over potential AI-driven disruption.
Labor market softened: July nonfarm payrolls unexpectedly fell by 23,000, while the unemployment rate edged down to 4.1% and wage growth slowed to its lowest pace since May 2021.

SEMICONDUCTOR MEMORY CYCLE MONITOR — Issue #5 | 1-8 Aug 2026

By Mo Aziz

SanDisk smashed Q4 FY26 on every metric — $8.97B revenue, 84.6% gross margin, EPS $39.25 — then guided Q1 FY27 fractionally below the whisper. NAND cycle intact; Korea disagreed violently.
SK Hynix stop triggered 6 August. Week seven of Korea’s forced-selling correction; FSC margin rules now live; ₩27.9T margin loans vs ₩38.6T June peak. Clearing, not collapsing.
Top Trade rotates to Samsung at ₩231,000 — 3.21x P/B, ₩89.2T Q2 DS operating profit, ₩90T buyback pending. The cheapest large-cap memory name globally.

Berkshire Buying Back Stock = Stock Undervalued!

By Maverick Equity Research

Dear all, Berkshire Hathaway’s 2nd quarter 2026 earnings came out yesterday, August 8th. Stock Buybacks
As I anticipated in my preview report three weeks ago, Berkshire’s share repurchases proved to be a big surprise.
Moreover, my forecast was not only correct directionally , but also numbers wise, highly accurate!

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Aug 09

0

Daily Brief Thematic (Sector/Industry): India: Defense Privatization | Private Players Awarded Key Projects and more

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

In today’s briefing:

India: Defense Privatization | Private Players Awarded Key Projects
APAC Healthcare Weekly (August 9) – Hengrui, CSPC Pharma, Takeda Pharma, Otsuka, Alteogen
China Healthcare Weekly Wrap (3-7 Aug)

India: Defense Privatization | Private Players Awarded Key Projects

By Ankit Agrawal, CFA

Today, the share of private players in defense manufacturing is around 20-25%. Most of the private participation has been as tier-2/tier-3 suppliers or as peripheral vendors for component manufacturing.
However, this has been changing. In recent times, contracts for defense equipments and systems have been awarded through competitive bidding to private players vs direct nomination exclusively to PSUs earlier.
For the first time in India’s history, a private player led consortium is slated to win a major defense project that entails developing prototype of Advanced Medium Combat Aircraft (AMCA).

APAC Healthcare Weekly (August 9) – Hengrui, CSPC Pharma, Takeda Pharma, Otsuka, Alteogen

By Tina Banerjee

Hengrui Pharmaceuticals’ trastuzumab rezetecan got third indication approval in China for colorectal cancer. CSPC Pharma and AstraZeneca entered JV contract for the construction of new-generation biologics manufacturing facility in China.
Takeda Pharmaceutical got FDA approval for Orzeyful for narcolepsy type 1. As a first-in-class orexin treatment, Orzeyful is the only medicine indicated in the U.S. to treat the disease holistically.
Otsuka announced new data from the Phase 3 trial demonstrating that Voyxact stabilizes kidney function decline. Alteogen signed an exclusive license agreement with a global pharmaceutical company for ALT-B4.

China Healthcare Weekly Wrap (3-7 Aug)

By Wilfred Yuen

Wuxi Apptec 2Q26 results beat on strong QoQ growth in TIDES. BeOne 2Q26 results driven by robust Brukinsa revenue (+14% QoQ to USD1.2bn). Zai 2Q26 +11% QoQ in product revenue
Innovent robust 2Q26 product revenue +60% YoY (or +13% QoQ) to RMB4.3bn; RemeGen 1H26 results preview: strong revenue growth + turnaround in profit; Alphamab licensed-out TROP2/HER3 ADC to Pathos AI.
Other updates include Hengrui, Wuxi Biologics, Metis Techbio, CSPC, and Akeso.

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Aug 08

0

Daily Brief Thematic (Sector/Industry): Japan Strategy Weekly | All About Earnings and more

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

In today’s briefing:

Japan Strategy Weekly | All About Earnings
China Housing – A Mid-Year Check 2026
AUCTUS ON FRIDAY – 07.08.2026

Japan Strategy Weekly | All About Earnings

Japan and US conducted first joint yen-buying intervention in 15 years after yen hit ¥164/$; now trading ~¥158.
Cabinet approved cutting food/beverage consumption tax from 8% to 1% for two years from April 2027, funded without new bonds.
Strong earnings beats and guidance hikes at Fujikura, Furukawa Electric, Yamaha Motor and Mitsubishi Materials.

China Housing – A Mid-Year Check 2026

By Robert Ciemniak

With full June and some July 2026 data, we take a look at where things stand in China’s housing markets and compare with expectations from the end of 2025.
The primary and secondary markets are now framed as one, the ‘Support not Stimulus’ policy theme continues, with city-level differences; in contrast to the mainland, the Hong Kong rebound continues.
The new REF China Housing Sentiment Index has deteriorated recently but remains in an upward trend.

AUCTUS ON FRIDAY – 07.08.2026

By Auctus Advisors

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX)C; Target price of A$0.16 per share: 2Q26 update – 2Q26 WI production in Austria was 197 boe/d.
Current production is 270 boe/d.
Arrow Exploration (AXL LN/CN)C; Target price of £0.55 per share: Reserves addition in Gacheta reservoir at Icaco.

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Aug 07

0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | De-Risking and more

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

In today’s briefing:

Ohayo Japan | De-Risking
[Memory Q2: Part 2] The Contract-Backed Cycle and the Cash Mountain
Nobody Subsidises a Down Jacket
Singapore Market Roundup (06-Aug-2026): Solid beat, raised guidance, but 3x book discounts: JP
SpaceX & Berkshire, Fair Isaac, Blackrock, Margin Loans + S&P 500 ATHs & Valuation
Strait of Hormuz Week 24: Traffic Rebounds, the IRGC Strikes Back, Oil Majors Deliver Bumper Profits
What’s News in Amsterdam
Asia Real Estate Tracker (06-Aug-2026): GIC sells $1B in private equity fund stakes, APAC news.
WTR Small-Cap Spotlight Recap : Data Centers’ Strategic Positioning Likely Benefits US Natural Gas
Energy Roundup : Big Oil’s Big Profits; US and Iran Back to the Negotiating Table

Ohayo Japan | De-Risking

Risk-Off overnight: US equities fell as yields and oil rose, with AI capex jitters resurfacing after weak Sandisk/Western Digital earnings.
Japan earnings season in full swing: strong beats/raises across semis, industrials and consumer names, but the market rotated away from crowded AI plays toward names with clearer earnings visibility.
What to watch today: further AI/semicap de-risking vs. domestic earnings rotation, with USD/JPY and bond yields as the key drivers.

[Memory Q2: Part 2] The Contract-Backed Cycle and the Cash Mountain

By Raghav Vashisht

Samsung and SK hynix are projecting $263 billion in combined net cash by year-end, intensifying pressure to move beyond 50% free-cash-flow payout targets.
Customer deposits and price floors underwrite new capacity, significantly improving demand visibility and weakening the traditional cycle-risk argument for holding massive excess cash.
While LTAs de-risk memory, capital demands remain high. Samsung’s foundry requires heavy investment, and both firms face potential supply-chain contingencies at their Chinese fabs.

Nobody Subsidises a Down Jacket

By Samir Mehta

Over a 6 year period from 2009 till 2014, a Chinese manufacturer of down jackets undertook some dramatic decisions.
They bought a six-storey building in Mayfair as a flagship store for a premium menswear collection.
They also bought two British formal menswear brands with 88 retail outlet, opened a pop-up in New York, looked at retail space on Fifth Avenue, launched brands in Rome, all while back home they were expanding retail stores across China, at a furious pace.

Singapore Market Roundup (06-Aug-2026): Solid beat, raised guidance, but 3x book discounts: JP

Solid beat, raised guidance, but 3x book discounts significantly: JP Morgan.
RHB raises Lum Chang Creations’ target price to 59 cents after contract win.
Pang of DBS upholds ‘buy’ rating and $35.50 target on Jardine C&C.

SpaceX & Berkshire, Fair Isaac, Blackrock, Margin Loans + S&P 500 ATHs & Valuation

By Maverick Equity Research

SpaceX (SPCX) and Berkshire Hathaway (BRK), naturally not an apples to apples comparison, but a very ‘valuation’ kind of comparison and food for thought.
To begin with, when SpaceX IPO-ed, many of you will recall this chart that I posted:
SpaceX (SPCX) at $2.1 trillion market capitalisation. Berkshire Hathaway (BRKB) at $1.05 market cap

Strait of Hormuz Week 24: Traffic Rebounds, the IRGC Strikes Back, Oil Majors Deliver Bumper Profits

By Mo Aziz

SoH transits surged 87% WoW to 84 vessels (27 Jul–2 Aug), but two Greek-controlled vessels — Gaslog Shanghai and Minoan Pioneer — were struck this week.
MoU collapse leaves a second tranche of 65 ships stranded; at least 70 vessels that entered in February have yet to exit approaching the six-month mark.
Bab el-Mandeb traffic fell 24% WoW after Houthi maritime embargo on Saudi Arabia took effect 20 July; tanker disruption concentrated, Suez Canal unaffected.

What’s News in Amsterdam

By The IDEA!

Ahold Delhaize | demonstrated its resilience in 2Q26
Heineken | 1H26 results in broadly in line with consensus; momentum improving
Wolters Kluwer | solid first half year; reiterates FY26 guidance. TKH Group | two inter-array cable orders pending after Vattenfall’s award wins

Asia Real Estate Tracker (06-Aug-2026): GIC sells $1B in private equity fund stakes, APAC news.

GIC plans to divest $1 billion in stakes from private equity funds amid notable market shifts.
In Australia, the merger of pension funds Aware and Prime Plan results in a combined value of $179 billion.
Centurion’s $268 million bid for a dormitory site and a $450 million bid by tycoon cousins highlight Singapore’s real estate activity.

WTR Small-Cap Spotlight Recap : Data Centers’ Strategic Positioning Likely Benefits US Natural Gas

Why are data centers so energy-intensive? Roughly half of the electric power demand of data centers is directly associated with the daily operation of IT equipment.
Computing chips typically consume the most electrical power inside a server and computing power and server systems account for ~40% of electricity consumption in a data center, while network and data storage equipment use ~10%.
That leaves water-intensive cooling for much of the remaining 50%.

Energy Roundup : Big Oil’s Big Profits; US and Iran Back to the Negotiating Table

Iran war fallout helps oil majors record mega 2Q earnings.
The US public majors reported 2Q26 earnings over the past week that were their highest in several years (Figure 1).
The companies benefited from the Iran war-induced higher crude oil prices along with stellar refining margins.

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Aug 06

0

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Capex Fears Resurface and more

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

In today’s briefing:

Ohayo Japan | Capex Fears Resurface
Investing in Data Centres
Japan Morning Connection: Memory Names Set for a Tough Session After Sandisk, WD Earnings Disappoint

Ohayo Japan | Capex Fears Resurface

US: Dow hit fresh highs, S&P flat, but AI capex fears resurface – AMD/SpaceX lower despite beats; Google reorganized DeepMind amid Dean’s exit.
OMRON (6645 JP): Q1 operating profit +226% YoY on AI/semiconductor capex demand; FY guidance raised ¥62bn→¥80bn (+42% YoY) – biggest beat.
Watch JP semiconductor/AI-capex names for “beat but sell” risk mirroring AMD, WD, Sandisk

Investing in Data Centres

By Garreth Elston

Data centres trade as real estate but do not behave like it: value is set by secured, energised power, execution capability and regulation, not by location or floor space.
Valuation requires triangulation across various methodologies. The metrics that matter are contracted versus energised MW, WALE by contract type, PUE trajectory and ESG compliance against regulatory thresholds.
Six SGX-listed vehicles offer differentiated exposure: three pure-plays (Keppel DC REIT, Digital Core REIT, NTT DC REIT) and three diversified names (CapitaLand Ascendas REIT, Mapletree Industrial Trust, CapitaLand India Trust).

Japan Morning Connection: Memory Names Set for a Tough Session After Sandisk, WD Earnings Disappoint

Kioxia, Minebea Misumi and Hoya may face a wobbly open after both Sandisk and WD missed expectations.
Sumco and Shin Etsu could see limited impact or even gains from proposed US polysilicon tariffs, as both source directly from US-based suppliers.
SpaceX dropped -13.6% after earnings AH yesterday, which looked good, but the firm spooked the mkt with its higher AI spend.

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