Daily Brief Thematic (Sector/Industry): Ohayo Japan | Stocks Retreat Ahead of Nvidia Earnings and more

• US stocks declined Monday as investors positioned ahead of Nvidia’s earnings Wednesday, with the Dow falling 349 points
• Mercedes-Benz Group announced it will sell Nissan Motor shares held by its pension fund, valued at approximately 51 billion yen
• Terumo announced the acquisition of UK-based Organox, which specializes in organ storage and transport equipment for transplantation, for approximately 220 billion yen

• Newmont completed a USD 2 billion debt tender, reflecting its ongoing debt-reduction strategy. Total debt fell from USD 6.4 billion in 2023 to USD 1.4 billion currently.
• As the world’s largest gold miner and the only one in the S&P 500, Newmont’s scale, portfolio reforms, cost discipline, and strong margins reinforce its industry leadership.
• Strong metal prices, elevated gold, and a bullish options market, combined with a Sharpe ratio of 3.68, position Newmont to outperform peers and deliver efficient risk-adjusted returns to investors.

• With gold up sharply YoY, retailers are nudging consumers toward studded (diamond/LGD) and lower-karat, light-weight gold.
• This demand is looking structural in nature(even if gold cools off), given changes in business mix(focus on studded/LGD) and promotion across retailers.
• Detailed analysis of all retailers on change in demand as well as new frontier of growth in LGD and Studded jewellery segment.

• OCBC’s Lim rates Hong Leong Asia as ‘buy’ with a $3.40 fair value.
• Analysts expect SATS to keep outperforming industry benchmarks.
• Maybank’s Seet downgrades SingPost to ‘hold’ due to asset divestment pause.

• Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help you kickstart the week ahead with fresh insights.
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• Seafood exports from India remain flat at USD 7.5 bln in 2024-25
• Andhra Pradesh govt inks pact with APM Terminals for port & terminal development
• Auto and auto component sector attracts Rs.676.9 billion investment under PLI scheme

• The adoption of post-quantum cryptography (PQC) standards in the semiconductor industry has been positive but cautious, with factors such as regional differences and supply chain challenges slowing down the process.
• The industry is aligning around a proposed 2035 migration timeline for PQC, with vendors in different verticals positioning themselves differently based on their planning cycles and customer demand.
• Early movers in the semiconductor space are making progress in adopting PQC in their next-generation chips, setting the benchmark for the rest of the ecosystem to follow suit.

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• Last week, the WTR Sustainable Index was up 3.2% W/W versus the S&P 500 Index (up 0.3%), the Russell 2000 Index (up 3.3%), and the Nasdaq Index (down 0.9%).
• Energy Technology (41% of the index) was up 3.8%, while Transportation Solutions (33% of the index) was up 3.7%, Climate Tech and Clean Tech (19% of the index) was up 1.0%, and Climate Tech Mining and Processing (7% of the index) was down 1.5%.
• Top 10 Performers: GRNWF, NKLA, AKCCF, AVLNF, ADN, EVTV, NIO, DUTV, WAST, EFOI