In today’s briefing:
- SK Telecom (017670 KS): Increasing Foreign Room & Passive Buying
- [Quiddity Index Aug25] KOSPI 200 Leaderboard for Dec25 Rebal: 6 ADDs, 6 DELs, Two Recommended Trades
- Intel CEO Heads To DC To Save His Job As Former CEO Calls His Leading Edge Strategy A Joke
- Tuas Ltd Placement: Cheap Acquisition Funded by Expensive Currency
- What’s Trump After in Lip-Bu Tan’s Oval Office Meeting?
- Global Markets Tactical Outlook WEEKLY: August 11 – August 15
- SoftBank (9984 JP): Earnings Beat and the Missing Volatility Crush
- Mobvoi Inc. Revenue From AIGC Solutions Continues To Post Hyper Growth, TicNote Debuted in April
- IFAST Corporation Limited: Undervalued for Its Prospects
- Forum Engineering Inc (7088 JP): Q1 FY03/26 flash update
SK Telecom (017670 KS): Increasing Foreign Room & Passive Buying
- Foreign room in SK Telecom (017670 KS) is over 21% now and increasing as foreign investors sell stock.
- Further foreign selling could take foreign room past 25% and that will result in passive inflows for the stock. Timing is dependent on when the 25% threshold is crossed.
- SK Telecom has underperformed its peers over the last 3 months and that has shrunk its valuation premium. Watch for a further increase in foreign room for an entry point.
[Quiddity Index Aug25] KOSPI 200 Leaderboard for Dec25 Rebal: 6 ADDs, 6 DELs, Two Recommended Trades
- KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).
- We expect up to 6 ADDs and 6 DELs for the December-2025 index rebal based on the latest available data. Same count as a month ago, but 5/12 name changes.
- We have new charts available for all expected ADDs/DELs showing a variety of data we think worthwhile in terms of judging trade opportunity and risk. And two recommended trades.
Intel CEO Heads To DC To Save His Job As Former CEO Calls His Leading Edge Strategy A Joke
- Intel CEO Lip Bu Tan is reportedly headed to Washington today to meet with the US Administration and clear up any misunderstandings about his past investments in China etc.
- Meanwhile, former CEO Craig Barrett published his third opinion piece about Intel’s future and calls LBT’s strategy of not investing further in 14A without customer support a joke
- It’s challenging to deal with the US Administration from a position of strength. It’s a whole different ball game when both the CEO & the company are in crisis mode…
Tuas Ltd Placement: Cheap Acquisition Funded by Expensive Currency
- Tuas Ltd (TUA AU) is looking to raise around US$239m in its fully underwritten Australian placement.
- The company will use the proceeds to partially fund the acquisition of Singaporean digital network operator M1.
- In this note, we will talk about the deal dynamics and run the deal through our ECM framework.
What’s Trump After in Lip-Bu Tan’s Oval Office Meeting?
- Political scrutiny and perception issues form a tense backdrop ahead of Tan’s Oval Office meeting.
- Strategic rifts over investment pace, 14A development, and fab build-outs are at the heart of the discussion.
- The meeting’s outcome may hinge on whether Tan can align Intel’s roadmap with Trump’s manufacturing agenda.
Global Markets Tactical Outlook WEEKLY: August 11 – August 15
- A quick synoptic look at the tactical setups for the indices, stocks, commodities and bonds we cover, for the week August 11 – August 15.
- OVERBOUGHT at the WEEKLY Close: NVIDIA Corp (NVDA US), Meta (META US) , Samsung Electronics (005935 KS) , Softbank Group (9984 JP) ,
- OVERSOLD at the WEEKLY Close: BYD (1211 HK) , NIFTY Index (NIFTY INDEX)
SoftBank (9984 JP): Earnings Beat and the Missing Volatility Crush
- Context:SoftBank’s (9984 JP) Q1 results on 7 August delivered a return to profitability and earnings beat, fueling one of the stock’s biggest post-results rallies in 15 years.
- Highlight: Shares jumped 10.4% on 8 August and nearly 20% week-on-week, with implied volatility staying elevated above 40% despite the surge.
- Why Read: Review price action and options market response, showing how SoftBank’s post-earnings volatility pattern echoes past announcements. Serves as a documented reference for the next earnings event.
Mobvoi Inc. Revenue From AIGC Solutions Continues To Post Hyper Growth, TicNote Debuted in April
- Mobvoi Inc., a Google-backed provider of AIGC software solutions and TicWatch maker, will announce interim results for the six months ended June 30, 2025, soon.
- The AI firm currently adjusts its business strategy, shifting to AIGC business model from traditional project-based revenue generating model.
- In April 2025, Mobvoi unveiled TicNote, a compact AI-powered voice recorder. It’s a separate device from smartphone, which gathered significant attention from media and users.
IFAST Corporation Limited: Undervalued for Its Prospects
- We initiated coverage on iFAST Corporation Limited (iFAST) a week ago.
- Though stock has risen 21% since our note, we see a further 20% upside.
- The market appears to be missing iFast’ s value in terms of P/AUM and EV/Revenue, in light of the AUM growth prospects. 2Q PAT was ahead of consensus expectations.
Forum Engineering Inc (7088 JP): Q1 FY03/26 flash update
- Revenue increased 8.2% YoY to JPY9.2bn; operating profit rose 1.5% YoY to JPY1.3bn.
- Cognavi Staffing saw a 5.2% YoY increase in utilized engineers; hourly staffing rate rose 4.6% YoY.
- Cognavi India recorded JPY9mn revenue; operating loss was JPY81mn due to upfront investment.
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