In today’s briefing:
- Singapore Seeks To Tweak Takeover Rules
- Ohayo Japan | Markets Climb as Fed Holds Rates
- Japan Morning Connection: Rescinding of US Chip Restrictions to Send JP Semi Plays Higher
- India-UK Free Trade Agreement: A New Era for India’s Textile Industry
- US Banks – Granular Data in Fed Report, Shows Private Credit Growth Is Strong
- Japanese Consumer Spending: Growing Resilience in the Face of Ongoing Inflation
- [Blue Lotus Daily-TMT Update]:BABA US/TCOM US/3690 HK/ATAT US/PDD US/JD US
- [Blue Lotus Daily]:1211 HK/9863 HK/XPEV US/LI US/ATAT US/Macro
Singapore Seeks To Tweak Takeover Rules
- On Monday (5th May), Singapore’s Securities Industry Council (SIC) issued a consultation paper on amendments to Singapore’s Code on Take-overs and Mergers.
- The aim of the proposed changes is to improve deal clarity and fairness. Standout proposals include a 28-day PUSU deadline, and making it less difficult for a competing offer.
- Public feedback on the proposed amendments is open until 5 June 2025.
Ohayo Japan | Markets Climb as Fed Holds Rates
- The S&P 500 rose 0.43% to 5,631 as the Federal Reserve held rates at 4.25%-4.5%, warning of rising risks to inflation and unemployment due to ongoing trade war concerns
- Nippon Telegraph and Telephone is reportedly planning a tender offer of up to 3 trillion yen to acquire the remaining shares of NTT Data
- Shionogi Pharmaceutical announced plans to acquire Torii Pharmaceutical, a JT subsidiary, for approximately ¥160 billion
Japan Morning Connection: Rescinding of US Chip Restrictions to Send JP Semi Plays Higher
- Late session rally for chips and semi-cap names with the US signalling a softening of export curbs.
- ARM numbers after the bell sending stock -10% point to Softbank missing todays upside.
- Is Japanese shipbuilding expertise the new bargaining chip against tariffs?
India-UK Free Trade Agreement: A New Era for India’s Textile Industry
- India-UK FTA removes a 12% import tariff, giving Indian textile exporters a strong price advantage in the UK market.
- Cotton-Rich Indian apparel aligns with UK demand; exports of women’s cotton trousers to the UK rose 30% in 2023.
- The FTA is set to boost India’s annual apparel exports to the UK from $4 billion to nearly $6 billion by 2025.
US Banks – Granular Data in Fed Report, Shows Private Credit Growth Is Strong
- The most recent Fed Financial Stability Report released on 25 April shows that Other Lending to FI’s for banks includes Private Credit
- This means that the C&I loan category of banks is partly diluted, where banks are providing this lending via private lenders
- The implications are highly positive to the understanding of underlying credit demand, economic strength, and bank health
Japanese Consumer Spending: Growing Resilience in the Face of Ongoing Inflation
- Japanese consumers have had a rough ride in recent years, not dissimilar to their peers in many other markets.
- But here consumers are less used to persistent inflation and adapting has resulted in important changes in behaviour, notably cutting back to pay for the spiralling cost of food.
- On the other hand, persistent wage growth is also new and, while too much of these increases have been stuffed under the mattress, spending on treats continues.
[Blue Lotus Daily-TMT Update]:BABA US/TCOM US/3690 HK/ATAT US/PDD US/JD US
- BABA US: Ele.me’s Daily Food Delivery Orders via Taobao Deals Surpass 10 Million on May 5 (-)
- TCOM US/3690 HK/ATAT US: Summary of May Day Holiday Consumption Trends.(+/+/+)
- Entertainment Sector Update: Weak Box Office Performance During May Day Holiday Hits 8-Year Low(-)
[Blue Lotus Daily]:1211 HK/9863 HK/XPEV US/LI US/ATAT US/Macro
- 1211 HK/9863 HK: Summary of April 2025 Sales for Major Chinese Automakers(+/+)
- 1211 HK:The foundation laying ceremony for BYD’s passenger vehicle factory in Cambodia has taken place, with an expected official production launch in the fourth quarter of this year (/)
- 1211 HK: BYD Launches Fourth Vehicle Carrier Ship and Prepares Fifth for Export Expansion.(+)
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