Daily Brief Thematic (Sector/Industry): Ohayo Japan | The U.S. Appeals Court Has Reinstated Trump’s Tariffs. and more

• A federal appeals court reinstated Trump’s tariffs temporarily, adding uncertainty to trade policy.
• The S&P 500 and Nasdaq rose 0.4%, while the Dow gained 0.3%, though all three retreated from session highs
• Renesas Electronics has scrapped plans to produce next-generation power semiconductors for electric vehicles using silicon carbide at its Takasaki Plant

• In the global copper market the news of trouble at Ivanhoe Mines (IVN CN) large Kamoa-Kakula mine in Congo dominated headlines.
• Kamoa-Kakula is the fourth largest global copper mine ramping up supply in the coming years. The issues highlight the necessity for other projects such as Oyo Tolgoi in Mongolia. 
• In Mongolia, headlines were dominated by political unrest and a “secret” lawsuit by the Mongolian government against Rio Tinto Ltd (RIO AU). 

• Computex focused heavily on AI and featured a lot of liquid cooling technology
• Nvidia keynote at Computex introduced NVLink Fusion for custom CPUs, targeting vendors like Fujitsu
• Debate arose over the relevance of NVLink Fusion for hyperscalers who are moving towards custom silicon to avoid reliance on Nvidia.

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• NVDA pricing in numbers positive and Dell AH sets a good tone for AI related.
• Renesas pulling out of SiC points to problems with Wolfspeed supplies and may be positive Rohm.
• Boeing up with 737 Max production increasing and China about to resume deliveries.

• SEBI investigates Indusind Bank (IIB IN)‘s delayed disclosures on derivatives accounting lapses, insider trading violations, and potential violations of LODR regulations.
• Dixon Technologies India Ltd (DIXON IN) Sunil Vachani discusses India’s progress in electronics manufacturing, aiming for global leadership but requiring time and patience.
• NSE is close to receiving Sebi’s approval for its IPO, with ongoing discussions on disclosures or an out-of-court settlement.

• We consider the merged platform Kadimastem (KDST.TA) + NLS Pharmaceutics (NLSP:NasdaqCM).
• We provide an investment case analysis and a selection of merged metrics prior to any synergies.
• The merger creates a cross-platform pre-revenue biotech with lead programs including a proprietary stem-differentiation platform capable of delivering scalable therapies for replacing lost or damaged cells; IsletRx could revolutionize insulin production for Type 1 diabetes (T1D) patients; AstroRx® targets neurodegenerative diseases (NDDs); and a clinical-stage Dual Orexin Receptor Agonist (DOXA) platform targets NDD therapies and metabolic disorders including ALS and sleep-wake disorders.