In today’s briefing:
- Ohayo Japan | Two Weeks to Negotiate
- Asia Monetary Easing: Tailored for Income-Generating Real Estate
- Australia Real Estate: Seeking Values
- #164 India Insights: TCS-Salling AI Deal, Hindustan Zinc 12k Cr Capex, Falcon Jets by 2028
Ohayo Japan | Two Weeks to Negotiate
- Trump said he will make a decision on whether to launch military strike on Iran “within next two weeks;” otherwise markets quiet – ie. closed
- Seven & i Holdings will sell part of its Seven Bank stake, reducing its shareholding to 39.9%, making it an equity-method affiliate
- Sony projects 90% of major global automakers will adopt its automotive CMOS sensors by fiscal 2027, aiming for a 43% market share.
Asia Monetary Easing: Tailored for Income-Generating Real Estate
- The Fed announced to hold rates unchanged, but the SEP indicates they expect 2 rate cuts in 2025 and 1 more in 2026. Tariff remains a short-term concern
- Under such a macro backdrop, we think key economies in Asia (with the exception of Japan) will continue their monetary easing path
- Real estate will benefit from lower interest rates. We like Goodman Group on the back of its strong global industrial exposure, and CICT SP, on its well-diversified exposure in Singapore
Australia Real Estate: Seeking Values
- Australia’s central bank RBA has recently cut rates in May meeting, with market expecting more rate cuts to come. We expect this will provide tailwind for real estate
- Within real estate sub-sectors, industrial & logistics and retail are well supported by strong fundamentals. Office and residential are seeing mixed pictures
- We like Goodman on its global exposure on industrial and logistics. We also like Vicinity Centers due to its exposure on quality retail.
#164 India Insights: TCS-Salling AI Deal, Hindustan Zinc 12k Cr Capex, Falcon Jets by 2028
- Tata Consultancy Svcs (TCS IN) partners with Denmark’s Salling Group for AI-based digital and cloud transformation across 2,100 stores, aligning with its ‘Aspire 28’ growth vision.
- Hindustan Zinc (HZ IN) announces INR 12,000 crore capex to double metal capacity in 36 months, aiming to meet surging demand and enhance long-term stakeholder value.
- Dassault Aviation SA (AM FP) and Reliance Industries (RIL IN) will build Falcon 2000 jets in India by 2028, making Nagpur a global hub for jet manufacturing and assembly excellence.
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