In today’s briefing:
- Asia Gaming: Performance of Philippines Casinos Reinforces Our Bullish Outlook for the Market
- Japan Stocks on the Move | Money Forward, Monotaro, CyberAgent
- GEM Weekly (5 Aug 2022): Asia PMIs, SK CPI, India Interest Rates; Alibaba, TSMC, NetEase, Tencent
- China Healthcare Weekly (Aug.5) – HK IPO, Innovent, BeiGene, the Largest IVD Centralized Procurement
Asia Gaming: Performance of Philippines Casinos Reinforces Our Bullish Outlook for the Market
- Philippine casinos are on a run in a rapid recovery path from covid headwinds.
- Entertainment City operators are leading the charge. Our favorite remains Bloomberry Resorts for a steady growth path to a projected EBITDA of US$500m by 2027.
- Macau continues beset by China headwinds with no certain estimates of duration. Manila casinos will benefit from growing cross border arrivals of tourists and VIPs.
Japan Stocks on the Move | Money Forward, Monotaro, CyberAgent
- The Nikkei was up 0.6% last week (-2.1% YTD) while the yen weakened 1.2% to 135/$
- Prime Minister Kishida met with US House Speaker Nancy Pelosi. China cancelled a meeting between the Foreign Ministers of Japan and China.
- Record high temperatures of 40c, record high Covid cases, 575k people evacuated due to torrential rain & flooding…..keep calm and carry on.
GEM Weekly (5 Aug 2022): Asia PMIs, SK CPI, India Interest Rates; Alibaba, TSMC, NetEase, Tencent
- The Global Emerging Markets weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.
- Macro data points:Chinese and Asian PMI data, South Korean CPI, Indian interest rates, Indonesian GDP
- Companies mentioned:Alibaba Group (9988 HK), Reliance Industries (RIL IN), Bharti Airtel (BHARTI IN), Taiwan Semiconductor (TSMC) (2330 TT), NetEase (9999 HK), Tencent (700 HK), XPeng (9868 HK)
China Healthcare Weekly (Aug.5) – HK IPO, Innovent, BeiGene, the Largest IVD Centralized Procurement
- IVD field ushered in the largest centralized procurement in history – the liver function biochemical testing reagents,which would bring great reshuffle effect to the competition pattern of biochemical diagnostics market.
- Innovent Biologics Inc (1801 HK) and Sanofi reached two major cooperation. Meanwhile, Innovent’s CCO Liu Min resigned. We deep dived the logic and impact behind.
- For HK IPO, market participants have come up with ways to reduce issuance scale in an attempt to stabilize the performance of new shares after IPO, which wouldn’t help.
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