In today’s briefing:
- Ohayo Japan | Wall Street Rises on Trade Hopes; Tesla Misses, Alphabet Beats
- HK Strategy: Finding the Gems in 1H25 HK IPOs
- Japan Morning Connection: US Liking JP and Expected EU Trade Deals, Expect Flows Back in Tech
- Healthcare’s Challenge: Antimicrobial Resistance
- Semi Key Indicators Q2 2025: PC, Smartphone Unit Shipments, Global Semi & WFE Sales All Looking Good
Ohayo Japan | Wall Street Rises on Trade Hopes; Tesla Misses, Alphabet Beats
- U.S. stocks rose on trade optimism, Tesla missed earnings but reaffirmed product plans, while Alphabet beat estimates on strong ad and cloud growth, highlighting AI’s growing impact.
- Japan-US tariff agreement drives rally: Trump announces 15% reciprocal tariffs, Japan commits $550 billion US investment, auto tariffs reduced to 15%
- Listed Japanese companies are forecast to post an average ROE of 8.5% for FY2025, the lowest in five years
HK Strategy: Finding the Gems in 1H25 HK IPOs
- While the 1H25 IPOs have gained an average of 38% YTD, their average share price change has been only 6.3% MTD.
- “Rising Suns” stocks are interesting: Hainan Drinda New Energy Technology (2865 HK), PegBio (2565 HK), CaoCao (2643 HK), and Anhui Conch Material Technology (2560 HK).
- “Real Treasures” stocks are safe bets: Duality Biotherapeutics (9606 HK), Unisound AI Tech. (9678 HK), CATL (3750 HK), Jiangsu Hengrui (1276 HK), and Nanshan Aluminium (2610 HK).
Japan Morning Connection: US Liking JP and Expected EU Trade Deals, Expect Flows Back in Tech
- Big capex plans for Google and good numbers for SK Hynix setting strong tone for AI related.
- Momo names slid yesterday, although Ishiba heading for door may pressure heavies further.
- Autos squeezed hard yesterday, but there should be more upside for names with elevated SI still.
Healthcare’s Challenge: Antimicrobial Resistance
- Antimicrobial resistance (AMR) is often framed as a public health crisis.
- But for investors, it represents a systemic, underappreciated risk that can quietly erode value across sectors and portfolios.
- As bacteria and viruses evolve to resist treatment, the effectiveness of antibiotics diminishes.
Semi Key Indicators Q2 2025: PC, Smartphone Unit Shipments, Global Semi & WFE Sales All Looking Good
- According to Gartner, PC unit shipments increased 4.1% YoY in Q225 to reach 63.2 million
- According to IDC, smartphone unit shipments grew 1% YoY in the second quarter, reaching 295.2 million units
- Global semi sales were up 20% YoY in May while SEMI now expects YoY growth in WFE spending of 7.5% in 2025 and a further 10% in 2026
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