In today’s briefing:
- Japan Weekly | Stocks Hit Record Highs on Earnings Strength
- AUCTUS ON FRIDAY – 15/08/2025
- China Property: The Implication of Evergrande’s De-Listing
- Thematic Report: Beyond the Fields- How Rural Demand Is Reshaping India’s Consumer Story?
- US Fed Rates: Data Dependence Meets Washington’s Heavy Hand
Japan Weekly | Stocks Hit Record Highs on Earnings Strength
- Japanese equities rallied on strong earnings, upbeat trade sentiment, and better-than-expected GDP, with Nikkei +3.7% and Topix +2.8% hitting record highs.
- Major gainers included SoftBank, Sanrio, Zensho, and Mitsui Mining, all boosted by strong results, upbeat guidance, and growth in AI or global demand.
- Chugai, Nippon Paint, and Dentsu fell sharply on weaker guidance, disappointing data, or impairments, with dividend cuts and revenue downgrades weighing on sentiment.
AUCTUS ON FRIDAY – 15/08/2025
- AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.90 per share: 4Q25 drilling in Uzbekistan could add 26-40 mmcf/d.
- First LNG in Kazakhstan in 2Q26 – 2Q25 gross production averaged 10,258 boe/d, consistent with prior indications.
- Drilling of the first vertical well in Uzbekistan will begin in early September.
China Property: The Implication of Evergrande’s De-Listing
- The formal delisting of China Evergrande will have an impact on its stakeholders, including the equity investors, creditors as well as Chinese homebuyers
- There is a shift of government attitude from “intervention” to “stabilization”. It is challenging for other developers who are facing liquidity crisis, e.g. China South City also suspend trading
- For trade ideas, we recommend investors stick with SOE (e.g. COLI) with no bankrupty risk to bet on Chinese property recovery and short private stressed developers (e.g. Country Garden)
Thematic Report: Beyond the Fields- How Rural Demand Is Reshaping India’s Consumer Story?
- Rural demand in India surged ahead in Q2 2025, outpacing urban growth and solidifying villages as the cornerstone of the nation’s economic momentum.
- Strong rural consumption is propelling sectors like FMCG and farm equipment, offering clear cues on market direction, corporate earnings, and sectoral leadership.
- Multiple Q1 FY26 concalls flagged rural outperformance or sequential improvement; FMCG/tractors are the clearest prints.
US Fed Rates: Data Dependence Meets Washington’s Heavy Hand
- Markets 93% priced for 25bps cut at 17 Sept FOMC; year-end split between additional 25bps or 50bps.
- Immense political heat on the Fed: POTUS Presses for cuts, Treasury Secretary Scott Bessent model flags for 150bps easing.
- We think the Fed will relent for a 25bps cut in Sep, Chairman Powell can’t fight alone!
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