In today’s briefing:
- Ohayo Japan | Vietnam Trade Deal Boosts Stocks
- Japan Morning Connection: AI and Tech Snaps Back with SOX at Recent Highs
- Thematic Report : Why China Won’t Derail India’s Steel Growth Plans?
- US Data Centers: AI-Driven Demand Outpacing Supply – BUY EQUINIX (EQIX)
Ohayo Japan | Vietnam Trade Deal Boosts Stocks
- S&P hit a record as Trump’s Vietnam deal lifted sentiment, despite weak jobs data raising Fed rate cut speculation; Nike rose 4% on Vietnam exposure.
- Microsoft will lay off 9,000 employees—under 4% of its workforce—as part of a reorganization to streamline management and focus on strategic growth areas.
- Fast Retailing’s UNIQLO domestic same-store sales rose 6% in June, driven by summer apparel demand, though unit price per customer dipped 1% on calendar effects.
Japan Morning Connection: AI and Tech Snaps Back with SOX at Recent Highs
- Oracle order for millions of homes worth of power consumption sends DC and server related higher.
- Power semis also up as analysts continue to take a more constructive view.
- Gaming names may bounce after yesterdays dip given they are seen as ‘tariff proof’ ahead of deadline.
Thematic Report : Why China Won’t Derail India’s Steel Growth Plans?
- China’s steel industry faces significant oversupply and weak domestic demand, driving aggressive exports and financial losses amidst rising global trade barriers
- India’s steel growth remains robust, driven by domestic demand, government support, product diversification, cost control, and ESG focus
- Indian steelmakers note easing import pressure, leveraging quality norms and value-added products, expanding capacity, with JSW Steel Ltd (JSTL IN) targeting 50 MT by 2030 from 27 MT currently.
US Data Centers: AI-Driven Demand Outpacing Supply – BUY EQUINIX (EQIX)
- We think the US DC market is on a transformational path – the growth of AI workloads creating huge demand that significantly outpaced supply
- AI data centers are highly unique, combining with supply constraints has resulted in record low vacancy rate and rental growth across key markets
- We think Equinix is well positioned to capture this huge opportunity. EQIX also collaborated with AI leaders like NVDA which gives it a competitive edge
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