Daily Brief Macro: Warren Buffett’s Increased Stakes in Japanese Trading Houses – Impact on Korean Trading Companies and more

• In this insight, we discuss how Buffett’s increased stakes in Japanese trading companies could positively impact Korean trading companies.
• In addition, we look back at the past five years and compare how the major Korean trading companies have performed relative to their Japanese counterparts. 
• In Korea, we believe that the following 5 major Korean trading companies (POSCO International, Hanwha Corp, LX International, Samsung Corp, and Hyundai Corp) could continue to outperform the market.

• Discussing the potential for Argentina to become investable again, starting with macroeconomic factors
• Macro overview provided by senior macroeconomist Diego Barrera, highlighting positive outcomes of fiscal restraint and disinflation
• Necessary conditions for gradual removal of capital controls include continued disinflation, IMF agreement and disbursement, leading to potential increase in reserves and real investment opportunities

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• Hello everyone, and welcome back to our weekly editorial on geopolitics, energy, and metals.
• As always, there is plenty to dig into amid tariff headlines, fresh sanctions, and souring sentiment in both U.S. equities and broad cyclical commodities.
• We have visited this argument before, but it’s important to address the reasons behind the ongoing selloff in oil (and to some extent natural gas) despite somewhat positive headlines from OPEC+, fresh sanctions targeting Iran, Putin pushing back on a deal, and more tariff headlines on Canada and Mexico, increasing the likelihood of short-term supply squeezes in crude markets.

• Due to conflicting signals from the US Administration, investors and extractors are becoming more cautious about the hydrocarbons market in the US and Canada.
• Political aspirations are causing uncertainty in the hydrocarbons market.
• This situation could potentially provide some small consolation for Opec.

• Are the recent announcements blocking Chinese investment a sea change in US/China relations?
• Are we wrong about Trump’s willingness to do a deal with China?
• Is it wrong to maintain a bullish stance on HK-listed China stocks?

• Rubber latex exports value goes up to US$666.25 million in 2024  
• Average yearly rubber price marks a 47% YoY surge to US$1,971/mt  
• Domestic tire firms consume 58,000 tons of rubber in 2024

• Episode nine of the Barbarians podcast covers updates on Trump’s presidency and economic investing outlooks
• Discussion on the impact of demographics on GDP growth and the innovation in sports like hockey
• Analysis of returns in relation to policy changes and the rise in gold prices, with a reference to a scene from Animal House for perspective.

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• Formation of a two-party coalition is seen as good news, as it eliminates the need to bring in additional parties with conflicting views
• Despite differences in specific tools, major parties align on broad objectives such as reducing energy prices and supporting key sectors
• The sense of responsibility to keep far-right parties out of power may drive centrist parties to work together effectively, potentially boosting business sentiment

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

• Malaysian ownership continues its upward trend after a 10-year bear market in positioning from 2014 to 2023
• Longer-Term ownership declines in Malaysian Financials and Industrials are starting to reverse.
• Only 3 companies are owned by more than 10% of funds, with CIMB Group Holdings (CIMB MK)  the clear leader.

• Consumption / In Depth: Holiday spending gives Chinese consumption a needed boost 
• E-commerce /In Depth: Trump ends an era for Shein and Temu
• Alibaba /: Alibaba’s $53 billion bet on an AI and cloud expansion windfall