In today’s briefing:
- [Quiddity Index] Sep25 Hang Seng Index Review Announced; 3 ADDs, Now 88 Names
- [Quiddity Index] Sep25 HSCEI Review Announced; 1 ADD, 1 DEL, Minor Flows
- Boeing’s $65 Billion China Lifeline: A Rare Win Amid Mounting Headwinds!
- MinebeaMitsumi Inc. (TSE:6479) – Precision Leader in Transition with Growth Catalysts Ahead
- Curtiss-Wright Is Tapping Into The Billion-Dollar Nuclear Energy Boom: Is This A Potential Game-Changer?
- Watts Water Technologies: Nexa Intelligent Water Management Expansion to Position Itself As A Leader In Smart Water Management Solutions!
[Quiddity Index] Sep25 Hang Seng Index Review Announced; 3 ADDs, Now 88 Names
- On Friday 22 August, the Hang Seng Index team announced the changes to the Hang Seng Index for the September 2025 rebalance. That takes us to 88 constituents.
- There were three ADDs – Pop Mart (9992 HK) and JD Logistics (2618 HK) were expected. China Telecom (H) (728 HK) was in our LOW conviction ranks but added.
- It’s not big at US$1.3bn to trade, but we have until 2 Sep to see capping or funding changes and the event will be effective 5 September at the close.
[Quiddity Index] Sep25 HSCEI Review Announced; 1 ADD, 1 DEL, Minor Flows
- On Friday 22 August, the Hang Seng Index team announced the changes to the Hang Seng China Enterprises Index for the September 2025 rebalance.
- Team Quiddity expected 1 ADD (Pop Mart (9992 HK)) and 1 DEL (J&T Global Express (1519 HK)) and those names were announced as the sole ADD/DEL pair.
- HSCEI sees some capping and re-capping flows but because it has relatively low tracking AUM, the total flows here are limited to about US$400mm.
Boeing’s $65 Billion China Lifeline: A Rare Win Amid Mounting Headwinds!
- After years of turbulence, Boeing is closing in on a potential mega-deal to sell up to 500 aircraft to China.
- This development comes at a time when the U.S. aerospace giant continues to wrestle with production inefficiencies, regulatory scrutiny, safety lapses, and supply chain instability.
- The proposed transaction—still contingent on easing trade tensions between the U.S. and China—would mark the largest commercial order since President Trump’s 2017 visit and may serve as the centerpiece of a broader trade agreement between the two economic superpowers.
MinebeaMitsumi Inc. (TSE:6479) – Precision Leader in Transition with Growth Catalysts Ahead
- MinebeaMitsumi is focused on expanding semiconductor backend capacity with the Cebu Mitsumi facility, ramping aerospace machining in India, and scaling AI/data center cooling bearings through FY27–28.
- In Q1 FY26, MinebeaMitsumi posted record revenues of ¥366.9bn (+3.2% YoY), though operating income declined 7.8% YoY to ¥17.4bn due to yen appreciation and rare-earth supply disruptions.
- Trading at a reasonable 8.1× EV/EBITDA and 20.9× P/E (TTM), the stock offers a mid-range multiple relative to peers like Nidec and NSK, reflecting a stable but cyclical industrial franchise.
Curtiss-Wright Is Tapping Into The Billion-Dollar Nuclear Energy Boom: Is This A Potential Game-Changer?
- Curtiss-Wright Corporation presented its financial performance for the second quarter of 2025, indicating robust growth and a favorable outlook.
- The company’s sales increased by 12% year-over-year, reaching $877 million, with an organic growth rate of 9%.
- A significant portion of this sales growth originated from the Naval and Power segment and Defense Electronics, contributing to a 20% rise in operating income and a 130 basis point expansion in operating margins.
Watts Water Technologies: Nexa Intelligent Water Management Expansion to Position Itself As A Leader In Smart Water Management Solutions!
- Watts Water Technologies reported strong second-quarter results, reflecting robust execution amidst challenges, with record highs in sales, operating income, and earnings per share.
- The company saw an organic sales increase of 6%, driven by favorable pricing and demand, despite ongoing European market weaknesses.
- This outcome was further supported by contributions from recent acquisitions and positive foreign exchange rates.
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