In today’s briefing:
- Ohayo Japan | Bessent Sees Deescalation with China
- Will Glowing Gold Spark Another Silver Rally?
- Japan Morning Connection: Trump Cooling His Heels on Powell Brings Reprise to Markets
- #136 India Insight: India-US Bilateral Ties, Waaree Secures Local Supply Chain, FDI Magnet Emerges
- The Aluminium Revolution: Four Major Projects Set to Transform India’s Metal Landscape
- Ethanol 30% Blending: Green Energy Gains, Feedstock Shifts, and What’s Ahead for India’s Ethanol
- [Blue Lotus Daily-TMT Update]:BABA US/PDD US/700 HK/JD US/3690 HK/TCOM US/
- [Blue Lotus Daily]:300750 SZ/1211 HK/ATAT US/NIO US
- Airbus Hydrogen Delay Broadens the Runway for Sustainable Aviation Fuel (SAF)
Ohayo Japan | Bessent Sees Deescalation with China
- Treasury Secretary Scott Bessent signaled a “de-escalation” in trade talks, sparking optimism, although no confirmation from Trump
- Bitcoin rose above $90k (+5%) driven by bearish projections in the IMF’s April report, which cut the U.S. growth forecast to 1.8% and raised inflation expectations
- Tesla’s Q1 2025 revenue fell 9% to $19 billion, net profit down 71% to $0.4 billion, due to delivery drops, competition, and tariffs.
Will Glowing Gold Spark Another Silver Rally?
- Silver prices experienced significant volatility in early April due to tariff announcements, but have since recovered by 12%.
- A weaker dollar has been a key driver of the recent rally in silver prices. Bullish sentiment is further reinforced by a buildup of call options, especially at out-of-the-money strikes.
- The Silver CVOL index shows a decline in call premiums and a softening in implied volatility, indicating a less volatile outlook in the near term.
Japan Morning Connection: Trump Cooling His Heels on Powell Brings Reprise to Markets
- Banks higher after Bessent comments show room for a softer stance on tariffs and desire to de-escalate.
- US Homebuilders strong after Pultegroup followed up with solid numbers after DHI beat last week.
- Market looking through poor Tesla numbers as Musk pledges to pullback on DOGE and refocus.
#136 India Insight: India-US Bilateral Ties, Waaree Secures Local Supply Chain, FDI Magnet Emerges
- India and the US are accelerating the first phase of a bilateral trade deal, aiming to resolve key tariff and regulatory issues which could boost market access and ease business.
- Waaree Renewable Technologies (WAREERTL IN) has achieved a 90% localized supply chain, shielding it from global disruptions which strengthens its position in India’s solar energy market and ensures long-term operational resilience.
- India is becoming a preferred destination for FDI as global companies diversify supply chains in response to US-China trade tensions, with over 20 new FDI inquiries in the past months.
The Aluminium Revolution: Four Major Projects Set to Transform India’s Metal Landscape
- Record Rs47.8B investments in 2025-26, marking the highest project completions in a decade, driven by surging demand for aluminium products.
- Hindalco Industries (HNDL IN) dominates with Rs37.6B Hirakud project, accounting for 79% of 2025-26 investments, boosting flat-rolled product capacity by 170k tonnes/year.
- 25 new projects announced in 2024-25, including Vedanta Ltd (VEDL IN) ’s Rs409.9B smelter, signalling robust growth in downstream and recycled aluminium sectors.
Ethanol 30% Blending: Green Energy Gains, Feedstock Shifts, and What’s Ahead for India’s Ethanol
- India’s ethanol blending policy is a long-term growth driver, supporting energy security and reducing oil imports, backed by strong government initiatives and infrastructure development.
- Significant investment in ethanol production infrastructure and feedstock diversification will be crucial to meeting the 30% blending target by 2030, creating a sustainable and scalable ethanol market.
- The focus on second-generation biofuels, flex-fuel vehicles, and sustainable feedstocks will position India as a global leader in ethanol use, driving economic and environmental benefits.
[Blue Lotus Daily-TMT Update]:BABA US/PDD US/700 HK/JD US/3690 HK/TCOM US/
- BABA US/PDD US: DHgate’s GMV Doubles in a Single Week, While Buyer Count Surges 200% (///)
- 700 HK : Tencent Officially Unveils <VALORANT Mobile>, Launches Pre-Registration（+）
- JD US/3690 HK: JD escalates PR battle, food delivery losses may exceed expectations(-//)
[Blue Lotus Daily]:300750 SZ/1211 HK/ATAT US/NIO US
- 300750 SZ/1211 HK: CATL launched 2nd generation Shenxing LFP battery, surprassing BYD in fast charging (///)
- ATAT US : Hotel RevPAR Decline Narrows Marginally (+ /+)
- NIO US: ONVO L90 Appears in MIIT’s New Vehicle List(+)
Airbus Hydrogen Delay Broadens the Runway for Sustainable Aviation Fuel (SAF)
- The alcohol-to-jet (AtJ) production pathway for sustainable aviation fuel (SAF) has the best potential to be a long-term scalable solution for decarbonizing the aviation industry.
- Recent news that Airbus has delayed its hydrogen-powered aircraft initiative by up to a decade (Wall Street Journal) provides evidence that at least one leading alternative to SAF is losing ground.
- Airbus has not changed its commitment to producing all aircraft capable of flying with up to 100% SAF by 2030.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
