In today’s briefing:
- Japan Weekly | Mercari, Softbank
- China Healthcare Weekly (Oct.7)- Biotech Accept Reality, Import Substitution Logic, Consumer Medical
Japan Weekly | Mercari, Softbank
- The Nikkei rose 4.5% over the week as the yen weakened slightly to 145 yen versus the dollar
- The buoyant mood may not last after U.S. stocks closed sharply lower on Friday after a strong jobs report
- The US commerce department announced restrictions to bar US companies from exporting critical SPE tools to China
China Healthcare Weekly (Oct.7)- Biotech Accept Reality, Import Substitution Logic, Consumer Medical
- It is estimated that a large number of biotech companies will be liquidated or willing to be acquired at low prices starting from the second half of 2023.
- If strictly speaking, the so-called import substitution is not really good logic, but investors need to know “when to participate in this story” and “when to exit”.
- Economic downturn would lead to consumption downgrade. We suggest that investors temporarily avoid medical companies with consumption attributes, since we have concerns on their performance.
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