In today’s briefing:
- Ohayo Japan | Risk Appetite Fades as Bitcoin Sells Off
- Japan Morning Connection: Crypto Selloff Spooks Risk Assets Although Most Recover in the PM
- Singapore Market Roundup (01-Dec-2025): DBS sees Bukit Sembawang as a potential dividend
- Exencial Industry Tidings 01/12/2025
- SA Listed Property Review – November 2025
- Thematic Report on India Diagnostics: The Great Consolidation and the Rise of Organized Chains
Ohayo Japan | Risk Appetite Fades as Bitcoin Sells Off
- US equities opened December lower as risk-off prevailed; bitcoin -7%, safe-havens gained, while markets price high odds of Fed cut next week.
- Yaskawa partners SoftBank on AI autonomous service robots, while FANUC teams with NVIDIA on AI-embedded industrial robots to accelerate physical AI adoption.
- MHI (7011 JP): 16% pullback reflects fading Takaichi trade; structural defence tailwinds remain intact as Japan’s contractors grew revenues 40% amid record $679bn global arms sales.
Japan Morning Connection: Crypto Selloff Spooks Risk Assets Although Most Recover in the PM
- Strong numbers for Credo after-hours sets a better tone for connectivity related plays.
- FA plays may be back in focus on news Yaskawa and Softbank as well as Fanuc and NVDA announce AI focused tie-ups.
- Expect a weakish start in Japan but tech weakness yesterday may soften blow.
Singapore Market Roundup (01-Dec-2025): DBS sees Bukit Sembawang as a potential dividend
- DBS calls Bukit Sembawang a potential dividend powerhouse in un-rated report.
- Chong of PhillipCapital upgrades BRC Asia to ‘buy’ with a $5.10 target price.
- RHB’s Yeo maintains ‘neutral’ on ISOTeam pending new orders.
Exencial Industry Tidings 01/12/2025
- Tea prices across auction centers in India prices fall 8.8% in November 2025
- Caustic soda lye prices fall 14.4% y-o-y in November 2025
- Drug formulations exports up 30.3 % in October 20 25
SA Listed Property Review – November 2025
- The South African listed property sector had another month of strong performance in November, driven by strong results and the SARB finally coming to the rate cutting party.
- The South African listed property sector delivered a commanding performance, with the J803 All Property Index returning 7.82% for the month, pushing the year-to-date total return to a remarkable 30.58%.
- The euphoria of cheaper debt must not blind us to the operational realities on the ground, where rental reversions in key sub-sectors remain stubbornly negative in certain areas.
Thematic Report on India Diagnostics: The Great Consolidation and the Rise of Organized Chains
- The Indian diagnostic sector has exited the post-COVID “volume hangover.” Leading players are pivoting from pandemic-era testing to sustainable drivers: wellness packages, specialized testing (oncology/genomics), and aggressive Tier-3/4 expansion.
- Organized chains currently hold 20-24% market share. With pricing discipline returning and digital aggregators reducing discounts, listed players are poised to gain share from the unorganized fragment (80% of market).
- Valuations have corrected to attractive levels. We see a strong re-rating potential for pan-India players with robust balance sheets capable of funding M&A and organic expansion.
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