In today’s briefing:
- Ohayo Japan | Oil Slides on Iran Optimism
- Japan Activism Briefs | Dentsu Soken, Hakuhodo, Miura
- Singapore Market Roundup (25-Aug-2026): BRC Asia gets positive outlook from PhillipCapital, CGSI,
- Asia Real Estate Tracker (25-Aug-2026): Alibaba raising $10.2B for AI and data centers.
- India: Defense Privatization | AK-203 Rifle Completely Indigenized
- Exencial Morning Chart – 25-08-2026
- Exencial Filings Daily – 25-08-2026
- The Golden Age of Customer Relationships?
- U.S. GDP, FOMC Outlook & Financial Conditions + ‘POTUS’ Job Approval Rating
- Weekly U.S. IPO & Equity Capital Markets Brief
Ohayo Japan | Oil Slides on Iran Optimism
- Crude fell sharply on optimism around US-Iran negotiations, helping lower Treasury yields and support risk assets.
- Nvidia reports after the US close, making its revenue outlook, AI demand and capex commentary the key test for Japanese AI/semiconductor names.
- Dick’s Sporting Goods cut its FY2026 outlook sharply; the main issue was Foot Locker, where comp sales fell 3.6%, reflecting weak demand for legacy sneakers & excess inventory
Japan Activism Briefs | Dentsu Soken, Hakuhodo, Miura
- Dentsu Soken: Oasis files 5% ahead of a rumoured take-private; at ¥2,688 per share the deal looks fair and exit likely.
- Hakuhodo: Silchester takes a 5% stake in an undervalued ad group; the real prize is a ¥120bn securities portfolio ripe for return.
- Miura: Silchester backs a cash-generative industrial franchise, mispriced at 12x despite double-digit margins and a credible global expansion.
Singapore Market Roundup (25-Aug-2026): BRC Asia gets positive outlook from PhillipCapital, CGSI,
- PhillipCapital, CGSI, and UOBKH are positive on BRC Asia after 3QFY2026 update.
- OCBC Research starts ‘buy’ on Foundation Healthcare, targeting 58% upside.
- RHB keeps Delfi ‘buy’ rating with a target price of $1.21.
Asia Real Estate Tracker (25-Aug-2026): Alibaba raising $10.2B for AI and data centers.
- Alibaba plans to raise $10.2 billion to enhance its AI infrastructure and expand data centers.
- JD has won a $2.1 billion project tender in Hong Kong’s Northern Metropolis, showcasing growth.
- Gaw Unit GCP Hospitality partners with IHG to manage 14 hotels in Kyoto, indicating real estate activity.
India: Defense Privatization | AK-203 Rifle Completely Indigenized
- India recently completed 100% indigenization in manufacturing of the AK-203 rifle. All the components and raw materials are now being sourced and manufactured locally vs just 25% indigenization 2Y ago.
- AK family rifles are an advanced assault rifles that have been replacing legacy INSAS infantry rifles. AK-203 rifle being the latest iteration is comparable to modern western rifles like HK416.
- Successful test-firing has been already done at the manufacturing facility and formal trials are expected to begin soon. This is a major step forward towards India’s self-reliance in small-arms segment.
Exencial Morning Chart – 25-08-2026
- Factories hold at a 58.7 PMI while urban auto sales growth halves to 14.9 percent in the June quarter
- Japanese firms rank India the most promising overseas market, ahead of the US and Vietnam.
- Fiscal 2026 mobile output of 70 billion dollars lands far under the 126 billion vision target.
Exencial Filings Daily – 25-08-2026
- TCS buys its way deeper into cars, One order carried the order tape
- Promoters are writing the cheques , Group clean ups beat trophy deals
- Bawal facility fire 06-May-2026 damaged 1.3 GWh tubular batterycapacity; no insurance recovery disclosed
The Golden Age of Customer Relationships?
- TLDR Summary The most defensible assets are those that are hard to replicate.
- Most tangible assets are fairly easy to replicate these days due to automation technology.
- Therefore, the lion share of value creation will likely continue to happen in intangible assets.
U.S. GDP, FOMC Outlook & Financial Conditions + ‘POTUS’ Job Approval Rating
- Dear all, 5 + 1 cherry picked Maverick Charts of the week say 10,000 words or more = the ‘How’ ! Table of contents = the ‘What’! Executed in a succinct manner with the aim of a high density of ideas, because great research respects the reader’s time:
- Maverick Charts: GDP, FOMC Outlook & Financial Conditions 📊 Bonus: ‘ POTUS’ Job Approval Rating Objective: both data-driven insights + valuable food for thought = the ‘Why’
- Maverick Charts: GDP, FOMC Outlook & Financial Conditions 📊 U.
Weekly U.S. IPO & Equity Capital Markets Brief
- Period: Week of August 24, 2026
- Coverage: U.S. transactions of at least $100 million Bottom line.
- There are no qualifying U.S. IPOs of at least $100 million scheduled to price this week
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