In today’s briefing:
- Ohayo Japan | Macro Data and Washington Politics to Set Tone
- Asia’s Gold Miners: High-Beta Plays for Gold’s Next Surge
- Japan Morning Connection: Google Spared from Anti-Trust Break up Sends Stock up in Late Trading
- Exencial Industry Tidings 02/09/2025
- Singapore Market Roundup (02-Sep-2025): Morningstar cuts Singapore banks’ uncertainty ratings to
- SA Listed Property Review August 2025
Ohayo Japan | Macro Data and Washington Politics to Set Tone
- Japanese shares rebounded from a two-day losing streak, with the Nikkei 225 Index rising 0.3%
- Uniqlo Japan reported a 5.3% year-on-year increase in same-store sales, including online sales, for August 2025.
- Sumitomo Corporation and Sumitomo Mitsui Finance & Leasing will jointly acquire US Air Leasing, a major aircraft leasing company, for approximately 1.09 trillion yen
Asia’s Gold Miners: High-Beta Plays for Gold’s Next Surge
- Gold has compounded ~8–9% annually over two decades, with structural drivers — central bank demand, energy transition, and supply discipline — supporting a constructive long-term outlook
- Gold equities historically show 1.5–2.5x beta to bullion with correlations of 0.6–0.8, amplifying upside in bull cycles and underperforming in downturns.
- The sector has already seen a sharp run-up, but positioning, fundamentals, and macro tailwinds suggest this rally may still have legs.
Japan Morning Connection: Google Spared from Anti-Trust Break up Sends Stock up in Late Trading
- Markets not liking the US revoking TSMC’s China export waiver sending TSMC suppliers lower.
- Memory continues to shine but there looks to be more upside for HDD component suppliers Hoya and Minebea.
- New AI glasses from Samsung could reignite interest in Nikon if the technology comes back into focus.
Exencial Industry Tidings 02/09/2025
- Natural acrylonitrile butadiene styrene (ABS) prices fall 3.9% y-o-y in August 2025
- Caustic soda flakes prices stagnate in August 2025 on y-o-y basis
- Farmers in Andhra Pradesh estimate shortage of urea during kharif season
Singapore Market Roundup (02-Sep-2025): Morningstar cuts Singapore banks’ uncertainty ratings to
- Morningstar lowers Singapore banks’ uncertainty ratings to ‘low’ after tariff scare.
- Aletheia Capital sees Sing Investments, Advanced Holdings, and Koyo Int’l as undervalued.
- PhillipCapital raises Singtel’s target price to $4.86 due to mobile and data growth.
SA Listed Property Review August 2025
- August marked another positive month for the SA Listed Property sector, with the SA All Property Index gaining 2.04% in total return terms.
- The primary catalyst for this positive performance was the South African Reserve Bank’s (SARB) decision to cut the repo rate by 25 basis points at the end of July.
- The sector delivered good results from reporting companies, and guidance increases from several companies too (OCT, NRP, PPR, RES).
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