In today’s briefing:
- Japan Strategy Weekly | Nikkei Rebounds as Oil Eases, but the Bond Market Isn’t Done
- Gold Consolidation Favours Selective Upside
- APAC Healthcare Weekly (Sept 27) – Hansoh Pharma, Innocare, Astellas, Otsuka, Telix Pharmaceuticals
- China Healthcare Weekly Wrap (21-25 Sep)
Japan Strategy Weekly | Nikkei Rebounds as Oil Eases, but the Bond Market Isn’t Done
- In a holiday-shortened week, with Tokyo closed Monday to Wednesday, Japanese equities made up for lost time.
- Global AI and tech names had rallied during Japan’s holiday after Meta’s Muse personal AI agent revived interest in the sector
- Strong US private-sector activity data and a weak five-year Treasury auction pushed up global bond yields
Gold Consolidation Favours Selective Upside
- Gold’s resistance to tighter policy suggests a higher structural floor, but weaker momentum and elevated real yields still favour consolidation.
- The Yuanyou Bao incident provides the risk discipline, showing how familiar loss limits can fail when the assumed price domain does not match the underlying contract.
- Futures provide linear exposure and miners add operating risk; a bull call spread fits structurally supported but momentum-constrained upside, subject to confirmation from the live volatility surface.
APAC Healthcare Weekly (Sept 27) – Hansoh Pharma, Innocare, Astellas, Otsuka, Telix Pharmaceuticals
- Hansoh Pharmaceutical’s risvutatug rezetecan has been included in the Priority Review and Approval Procedure of NMPA. Innocare entered research collaboration and license agreement with Eli Lilly to develop new medicines.
- Astellas Pharma initiated Phase 3 trial evaluating setidegrasib for NSCLC. Otsuka announced positive topline results from the Phase 3 trial evaluating ulefnersen in a genetic subtype of amyotrophic lateral sclerosis.
- Elevar Therapeutics won FDA approval for Lyrfigtu for bile duct cancer. Telix Pharmaceuticals will acquire ITM Isotope Technologies, a global leader in radioisotope production and radiopharmaceutical development, for $1.65B upfront.
China Healthcare Weekly Wrap (21-25 Sep)
- We highlight key updates from October’s ESMO meeting: 1) Akeso’s ivonescimab in 1L BTC, 2) Kelun/Merck’s sac-TMT (Lung04, Lung06, TroFuse-005), 3) Hutchmed/AZ’s savo, 4) Hansoh/GSK’s B7H3 ADC, 5) Innovent IBI363…
- BD deal flows this week: 1) Innocare/Lilly on 5-target drug discovery, 2) Earendil Labs/Genentech on bispecific, 3) Insilico Medicine/AI frontier model lab, 4) BoomRay/Novartis on radioligand, 4) Henlius/Amberstone on TCE
- Other updates/news: 1) LEGN’s 5-year Carvykti OS data in Cart-2 study, 2) BeOne’s first-in-class GPC3/4-1BB entering ph3 study in HCC, 3) TYK/Qilu deal update…
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