Daily Brief Thematic (Sector/Industry): HK/China Real Estate Bottoming Out and more

• 2025 YTD, HK/China RE companies rebounded from recent lows (10% – 30%), and we think this will continue and turn into a sector re-rating
• A combination of reduced global geopolitical tensions, expected monetary easing from US, China’s fiscal and monetary stimulus, HK’s robust capital inflow and lower interbank rate will support re-rating
• Despite recent rebound, valuation remains attractive.  We recommend LONG COLI 688 HK and SHKP 16 HK.  For higher risk tolerance and higher beta, we recommend NWD 17 HK

• US stocks surged Thursday, with the S&P 500 rising 0.8% to 6,141, just below its record high
• Nike reported a 12% drop in fourth-quarter revenue to ¥1.78 trillion; gross margins down 4.4 percentage points due to excess inventory and tariffs
• Kyocera approved the reappointment of Chairman Goro Yamaguchi despite opposition from Oasis Management, citing poor performance

• Multiple companies involved in competitive bidding war in Arizona for mining project
• Kinterra makes bid for New World Resources at 5.7 cents per share
• Deal with RCF allows Kinterra to increase stake in company to over 19%

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• Marvell’s technical presentations were longer than expected but well-received, showcasing their differentiation from Broadcom
• Marvell has a deep pool of technical talent and a framework for explaining their innovations effectively
• Challenges with the custom business model being lumpy and heavily cyclical, with uncertainties in revenue pipelines and scaling projects with hyperscalers

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