In today’s briefing:
- Ohayo Japan | Higher Oil, Higher Yields, Lower Stocks
- Fundamental Factor Research: Monthly Revenue Information – part1
- Fundamental Factor Research: Monthly Revenue Information – part2
- Singapore Market Roundup (09-Sep-2026): Maybank’s Seet lowers Frencken target price after $100M
- Exencial Industry Tidings – 09-09-2026
- Exencial Morning Charts – 09-09-2026
- Global Energy Security Remains Stressed as Renewed Fighting Pushes Prices Higher
- Courtenay Special Situations Fund Falls 14% in July, Adds to Elon Musk-Linked Stakes
Ohayo Japan | Higher Oil, Higher Yields, Lower Stocks
- US equities fell for a third straight session: Dow -0.8%, S&P 500 -0.5%, Nasdaq -0.6%.
- The 10-year Treasury yield rose 5bp to 4.85%, its highest since October 2023
- Meta (+6.5%) as analysts responded positively to its AI assistant
Fundamental Factor Research: Monthly Revenue Information – part1
- The Taiwan equity market possesses a rare institutional advantage globally: under the Securities and Exchange Act, listed companies are required to announce and report their operational results for the preceding month by the 10th of each month (Exception: starting from FY2026, insurance companies and entities with insurance subsidiaries may extend their disclosure deadline to the 15th of each month).
- This is commonly referred to in the market as “Monthly Revenue”.
- Benefiting from this regulation, investors can update the latest corporate revenue information every month at a frequency far higher than quarterly financial report fundamental data.
Fundamental Factor Research: Monthly Revenue Information – part2
- Based on preceding results, SURPS3MTA demonstrates clear return monotonicity and significant long-short portfolio Alpha.
- REVOPY possesses strong ranking predictive power distributed across the full cross-section.
- This study evaluates 7 backtesting strategies utilizing these two factors plus MOM52WH to test real-world execution feasibility and multi-factor fusion value.
Singapore Market Roundup (09-Sep-2026): Maybank’s Seet lowers Frencken target price after $100M
- Maybank’s Seet stays positive on Frencken, lowers target price post $100M placement.
- UOBKH cuts Delfi’s target price due to rising cocoa prices and forex issues.
- Maybank’s Seet keeps ‘buy’ rating with 24-cent target on Marco Polo Marine post-RTO.
Exencial Industry Tidings – 09-09-2026
- Gen Z accounts for 43% of India’s consumption spending: BCG-Snap report
- Consumer goods companies considering price hikes to offset rising sugar pricesUK recognises India’s CCTS under its carbon tax mechanism
- Plea in SC seeks stricter FSSAI warning labels for excess sugar, salt & fat
Exencial Morning Charts – 09-09-2026
- Peak demand holds near 257 GW as the daily shortfall spikes to 28 million units
- India has never sustained 8 percent growth, the decadal average stuck near 6
- G20 travel emissions could fall a fifth by 2050 on hybrid work and more buses
Global Energy Security Remains Stressed as Renewed Fighting Pushes Prices Higher
- Global oil supplies have experienced massive disruptions in 2026.
- A major news agency published a report last week stating that nearly half the world’s oil is supplied by countries affected by conflicts this year, including the ongoing Iran war and the expansion into other Middle East countries (which has resulted in the largest oil supply crisis on record), the Russia-Ukraine war, conflicts in Libya, and US restrictions on Venezuelan oil exports at ?the start of the year.
- Reuters calculated that countries affected by those conflicts together produced ~45 million barrels of oil per day based on 2025 output, representing more than 43% of the global oil supply (Figure 1).
Courtenay Special Situations Fund Falls 14% in July, Adds to Elon Musk-Linked Stakes
- GA-Courtenay Special Situations Fund declined 13.8% in July, taking its year-to-date return to -10.0%, as an unusual liquidity-driven dislocation hit higher-growth equities.
- Ex-Odey star and fund manager Adrian Courtenay said the sell-off showed no corresponding deterioration in the fundamentals of the hedge fund’s holdings, while the merger arbitrage book contributed positively during the month.
- The fund responded cautiously by reducing equity gross exposure while increasing its merger arbitrage allocation and adding selectively to SpaceX and Tesla.
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