Thematic (Sector/Industry) Archives | Page 18 of 116 | Smartkarma

• 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.

• 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.

• 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.

• 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

• The Dow gained 0.91% to close at 44,494.94 on Tuesday as investors rotated out of technology and into health care stocks
• President Donald Trump expressed scepticism on reaching a tariff agreement with Japan, emphasizing his intent to impose duties
• Kirin Holdings completed the sale of Kyowa Hakko Bio’s amino acid business

• Homebuilders starting to stir, watch Sumitomo Forestry for upside squeeze potential.
• Este Lauder continues to climb but JP names still languish as slow to react to changing trends.
• Trump’s brinkmanship continues as the 9th July tariff deadline looms.

• China/HK real estate developers used to operate on “asset heavy” business model, where they build, own and operate the assets on balance sheet
• We think a new “asset light” model is emerging: the new model is charactered by minimized asset ownership, reduced financial risk and improved ROE
• In particular, we like CLI, Link REIT and China Resources Land.  We think they are on a transformational path and will provide further upside to shareholders

• Consumer distribution has been transformed since 2020 through accelerated concentration of market share. While some has come about through organic growth, the real drivers have been M&A and MBOs. 
• The result is a realignment of the retail leader board as companies like PPI, Welcia and Trial buy their way to the top, while others, notably Seven & I, shrink.
• Here we identify the retail leaders in driving consolidation going forward, and the intensifying pressure on both smaller retailers and the wholesalers that supply them.

• SEBI approved cash-settled electricity futures on MCX and NSE in June 2025, bringing energy derivatives under regulation. 
• These critical financial tools will deepen power markets, enabling risk management and aligning with global practices. 
• Their transformative impact will bridge physical and financial power trading, boosting investment and market participation.

• Following a 20% rally in 1H25, the market has built in excessive optimism on the HSI. Historically, average returns for Jul-Oct are negative, suggesting caution is needed.
• The top 10 best-performing constituents are sitting on 24x FY25F PER, much higher than 11x for the Index, implying that earnings excitement has been well factored in. 
• Among the worst-performing ones in 1H25, BYD Electronics (285 HK), Haier Smart Home (6690 HK), and Techtronic Industries (669 HK) look appealing in 2H25.

• The WTR Sustainable Index was up 2.7% W/W versus the S&P 500 Index (up 3.4%), the Russell 2000 Index (up 3.0%), and the Nasdaq Index (up 4.2%).
• Energy Technology (13.1% of the index) was up 4.8%, while Industrial Climate and Ag Technology (48.2% of the index) was up 3.8%, ClimateTech Mining was up 1.4%, and Advanced Transportation Solutions (20.8% of the index) was up 2.7%.
• Top 10 Performers: QS, HYSR, AEVA, EFOI, COMM, WAVE, FTEK, AYRO, ENVX, AMSC

• The risk of power cuts in the UK, for a variety of reasons, remains real.
• Low plant margins (i.e. limited spare capacity at peak) in the UK are obvious enough.
• However, the events of 28 April 2025 ‒ when Spain, Portugal and parts of France were plunged into lengthy power outages ‒ were very disconcerting.

• Credit growth expected to rise to 13–13.5 percent in FY26, led by industrial lending and public sector bank support.
• Reliance Industries (RIL IN) ’s RISE Worldwide partners with Denmark’s BLAST to launch Jio BLAST eSports, signaling a major push into India’s booming gaming industry.
• Sona Comstar plans to manufacture EV magnets in India, aiming to reduce China dependence and strengthen domestic capabilities in the electric mobility sector.

• U.S. stocks closed at record highs Monday, capping a volatile first half as optimism over trade negotiations lifted markets.
• Takashimaya and Line Yahoo Japan announce fresh share buyback plans
• Honda has postponed production of its next-generation fuel cell system due to high costs

• Wolfspeed formally goes into Chapter 11, but the upside for Renesas makes its recent write off look excessive.
• Short interest for some Japanese autos has surged which points to a squeeze once US trade deal reached.
• Space names should be back in  focus ahead of next week’s ‘Space Tide Conference’ in Tokyo. Watch iQPS, Synspective and Sky Perfect JSAT for upside.

• RBA has recently shifted its monetary policy, and is expected to continue its easing over the future.  Real estate assets will benefit
• The office sector in Australia is impacted by the “flight to quality” trend, while the retail sector is under pressure, with slowing retail sales growth
• We see value in DEXUS and Dexus Convenience Retail REIT, driven by both top down macro tailwinds and structural bottom up drivers

• Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help you kickstart the week ahead with fresh insights.
• Because these ideas are the result of my first-level idea generation process, they require more in depth research. Therefore, the ideas will often be concise, with occasional references to valuable work from other practitioners that I encourage you to explore.
• If you have something fascinating to share that could benefit me and the wider community, don’t hesitate to send it my way—I’d love to hear from you!

• India’s steel sector faced severe margin compression and trade imbalances due to a surge in low-cost imports and collapsing exports.
• To combat structural stress, the Government of India imposed a 12% safeguard duty and expanded quality norms to shield domestic producers.
• While short-term recovery is visible, the long-term outlook depends on global oversupply resolution and India’s shift from curbs to core reforms.

• New CEO of RISC V International focusing on continuity with previous CEO’s roadmap
• Prioritizing commercialization of RISC V in key industries like HPC, Data center, AI, Automotive, and Space
• Key takeaways from RISC V Summit Europe include engagement from global attendees, important panels with industry leaders, and upgrades in software ecosystem membership.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• U.S. stocks closed at record highs Friday despite volatility sparked by President Trump’s abrupt termination of trade talks with Canada
• Investors are waiting for Thursday’s June nonfarm payrolls report, which could sway Federal Reserve policy.
• Independent Franchise Partners (IFP), a British investment firm, increased its stake in Shiseido to 8.3%, up from 7.28%

• US Homebuilders starting to show signs of life should help sentiment for Sumi Forestry and Sekisui.
• Boeing move may already be priced in for Heavies but Momo still rules in Japan.
• Softbank signaling buybacks to take a back seat over investments in ASI.

• In this research, we look at the latest landscape regarding application of PropTech in Asia, and evaluate which companies have an edge
• PropTech is widely adopted in order to 1) enhance valuation process 2) improve efficiency to reduce costs and 3) green and sustainability buildings
• Among all real estate companies in Asia, we think CapitaLand Investment (CLI) and Sun Hung Kai Properties (16 HK) are leading in the application of PropTech

• New weekly data from US banks are now out, the first time since 13 June events, so important
• There remains loan acceleration in total loans and also the important bucket, C&I loans
• LDR expansion good, new CP outstanding data shows a surge in growth rate, new highs

• RemeGen granted exclusive rights to develop and commercialize Telitacicept worldwide (excluding Greater China) to Vor Biopharma for $125M. Innovent Biologics received a first-in-class weight loss drug approval in China.
• Daiichi Sankyo received FDA approval for Datroway for the treatment of certain types of non-small cell lung cancer (NSCLC). SanBio now expects Akuugo approval in H2FY26, instead of Q2FY26.
• Otsuka in-licensed HBM7020 from Harbour BioMed for an upfront payment of $47M and near-term milestones. Glenmark Pharmaceuticals has launched Beigene’s Tevimbra in India for NSCLC.

• Nikkei +4.6%, Topix +2.5% – strongest weekly performance since February and new YTD highs, driven by semiconductors and broad-based tech momentum.
• Risk sentiment normalized after initial geopolitical shock from U.S. strikes on Iranian nuclear facilities; focus rotated back to U.S. macro and policy dovishness.
• Sector divergence – semiconductors and telcos sharply outperform; Oil & Gas lags amid energy volatility.

• Markets were back to risk-on and then take profit mode overnight as President Trump seeks full surrender from Iran.
• The world waits and watches whether the US will become involved in the Israel/Iran conflict.
• All things considered, the reaction was fairly tame. ASX200 futures are looking at a softer open ahead of the Federal FOMC meeting tomorrow.

• Quarterly granular data from US banks is collated by the Fed showing consumer loans broken down by PD bucket
• The data through 1Q25 may be counterintuitive with what shows some of the best credit metrics in the time series 
• The best two PD buckets for both residential mortgage loans and credit card loans, are both rising as a proportion of total, and at peaks in the series

• AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZ CN)C: Financial update – New Zealand has received short term loans totalling C$0.48 mm from Charlestown Energy Partners and a company controlled by New Zealand’s Chairman.
• The loans, which were issued with an original issuance discount of 10%.
• are unsecured and non-convertible, with interest payable at 15% per annum and repayment is due on August 27, 2025, The company now intends to complete a private placement.

• The WTR Consumer Products Index is down 17.5% YTD through June 23, 2025, on a 2.8x decline in its 12-month prospective absolute P/E ratio to 15.3x from 18.1x at the end of 2024.
• Prospective earnings for the index are down 2.3% so far this year, but we note that it has outperformed the broader S&P 600 Small Cap Index, which is down 6.3%.
• Meanwhile, the S&P SmallCap 600 Index is down 13.1% YTD, better than the WTR Consumer Products Index, despite relative earnings underperformance versus our index, as its prospective absolute P/E ratio compressed a lesser 1.2x to 15.3x from 16.5x at the end of 2024. 

• 2025 YTD, HK/China RE companies rebounded from recent lows (10% – 30%), and we think this will continue and turn into a sector re-rating
• A combination of reduced global geopolitical tensions, expected monetary easing from US, China’s fiscal and monetary stimulus, HK’s robust capital inflow and lower interbank rate will support re-rating
• Despite recent rebound, valuation remains attractive.  We recommend LONG COLI 688 HK and SHKP 16 HK.  For higher risk tolerance and higher beta, we recommend NWD 17 HK

• US stocks surged Thursday, with the S&P 500 rising 0.8% to 6,141, just below its record high
• Nike reported a 12% drop in fourth-quarter revenue to ¥1.78 trillion; gross margins down 4.4 percentage points due to excess inventory and tariffs
• Kyocera approved the reappointment of Chairman Goro Yamaguchi despite opposition from Oasis Management, citing poor performance

• Multiple companies involved in competitive bidding war in Arizona for mining project
• Kinterra makes bid for New World Resources at 5.7 cents per share
• Deal with RCF allows Kinterra to increase stake in company to over 19%

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Marvell’s technical presentations were longer than expected but well-received, showcasing their differentiation from Broadcom
• Marvell has a deep pool of technical talent and a framework for explaining their innovations effectively
• Challenges with the custom business model being lumpy and heavily cyclical, with uncertainties in revenue pipelines and scaling projects with hyperscalers

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Stocks ended mixed Wednesday as the Nasdaq rose 0.3% on a 4.3% surge in Nvidia
• Nintendo will hold its fifth lottery sale for the Switch 2 console in early July, with products arriving after September.
• 3D Investment Partners, a Singapore-based activist fund, disclosed it held 10.87% of Square Enix Holdings shares

• Cloud 2025 CapEx consensus increased 70% from January 2024 to the present day $365 billion
• Google page views declined 8% since the launch of ChatGPT
• Apart from the Mag7, Coatue is heavily focusing investment on companies involved in AI-required power delivery, AI software and AI semiconductors 

• India’s tyre market is expected to grow at 6–7% volume CAGR, yet raw material volatility like the 33% rubber price spike in FY24 has squeezed margins across the board.
• Managements acknowledge EBITDA margin pressure, but cite strategic inventory, revised capex, and sourcing shifts to mitigate further contraction.
• Looking ahead, leaders remain cautiously optimistic, expecting stable RM costs in Q1FY26, export growth at 10–11% CAGR, and EV-related demand to accelerate medium-term recovery.

• India’s paper imports hit a record 2.05 million tonnes in FY25, doubling over four years due to FTAs and zero-duty access for low-cost producers.
• Domestic mills are shutting down as predatory imports undermine a sector vital to rural jobs, sustainability, and national development goals like Clean India and education. 
• With policy momentum building post-PAPEXPO 2025 and past success of anti-dumping duties, trade protection for paper now appears not just likely but urgent.

• Adani Group has announced a record-breaking $15–20 billion annual capex plan, the country’s largest private renewable energy park, and a full-scale digital infrastructure push via green-powered data centers.
• These projects consolidate Adani’s leadership in infrastructure, energy, logistics, and digital transformation, sectors critical to India’s long-term GDP and employment growth.
• With execution backed by strong balance sheet discipline and sectoral synergies, Adani’s strategy presents a long-duration value creation model beyond short-term market narratives.

• A big structural change to underpin consumer demand goes unnoticed
• Efforts to prop up retail sales this year have had the desired effect
• We change up the members of the original consumer basket

• Fertilizer imports fell 44 % in May as Iran-Red Sea shocks inflated DAP/MOP landed costs; India fast-tracks ADD, green-ammonia deals.
• Tight DAP stocks, INR 1.8-trn subsidy exposure and Kharif timing put food-security, fiscal targets and agri-input inflation squarely at risk.
• Sector outlook swings from price-led recovery to supply-chain resilience play, favouring firms with domestic feedstock, nano-fertilizer IP and diversified import pacts.

• Yesterday, the Court of Appeal of Arnhem-Leeuwarden ruled that online grocery delivery companies like e.g., Picnic and Flink, must comply with the collective labour agreement (CLA) for the supermarket sector.
• The court determined that businesses selling supermarket products online and physically handling, sorting, and delivering them to consumers are effectively operating as (virtual) supermarkets.
• Therefore, they fall under the same labor regulations as traditional supermarkets.

• U.S. stocks +1% as easing geopolitical tensions and plunging oil prices boosted sentiment.
• Fuji Media Holdings will hold its Annual General Meeting on June 25 to vote on appointing 11 directors
• Krafton, a major Korean game company, will acquire the Japanese advertising agency ADK for 75 billion yen from Bain Capital.

• India’s rice exports are 80% dependent on the Gulf region, with the possibility of shutdown of SoH and Iran as a key buyer, exposing the sector to high conflict risk.
• 100,000 tonnes of Basmati rice are stranded; freight costs surged, and INR 1,500-2,000 crore in payments are stuck, causing major financial strain. 
• India is developing Chabahar Port for alternative routes and actively pursuing market diversification and government support schemes for resilience.

• India’s Wires & Cables sector is doubling by FY29 with a major 80% capex surge in FY26, driven by infrastructure and exports. 
• Despite robust supply growth, a significant INR 177.3 billion demand-supply gap by FY30 indicates strong absorption. 
• Polycab India (POLYCAB IN) leads with high ROIC and growth, while Havells India (HAVL IN) and Apar Industries (APR IN) offer strong capex-driven expansion for investors.

• The Iran-Israel conflict intensified, causing oil prices to surge over 20% due to geopolitical risks and Strait of Hormuz fears.
• India faces significant risk, as 38% of its oil and 52% of LNG imports rely critically on the Strait of Hormuz.
• Despite short-term volatility, substantial OPEC+ spare capacity suggests long-term oil prices may stabilize around $70/barrel.

• The US enters the war with Iran, bombing multiple nuclear sites, while trade policy uncertainty continues.
• The WTR Commercial/Contract Furniture Index gained 0.2% and the Home Goods Retailers Index was up 2.8%, while the Residential Manufacturers & Suppliers Index fell 2.0%.
• The broader indices were also mixed, with the S&P 500 and DJ 30 down 0.2%, while the R2K gained 0.1%.

• Iran’s missile attack on a U.S. base in Qatar, intercepted without casualties, led investors to downplay risks to oil supply. West Texas Intermediate crude fell over 7%
• Renesas Electronics anticipates a 250 billion yen loss for January-June 2025 due to the deteriorating performance of its U.S. partner, Wolfspeed
• Yakult faces shareholder proposals from Dalton Investments, endorsed by Glass Lewis, for a 100 billion yen share buyback

• Chinese smartphone-makers are increasingly outsourcing production to Indian contract manufacturers to avoid running afoul of regulators in the South Asian country as it aims to become a global manufacturing hub, an industry analyst said.
• As of the first quarter of this year, Chinese smartphone-makers had handed over about 66% of assembly work to manufacturing partners that are involved in New Delhi’s Production-Linked Incentive (PLI) scheme, said Prachir Singh, a senior analyst at Counterpoint Research.
• Launched in 2020, the PLI scheme is a strategic initiative designed to bolster domestic manufacturing and reduce dependence on imports.

• RBI finalized new provisioning norms for project finance (effective October 1, 2025), significantly softening earlier proposals. Provisioning for under-construction projects has been cut to 1–1.25% (from the proposed 5%).
• The change reduces capital strain for lenders, preserves profitability metrics, and encourages fresh credit flow to infrastructure and commercial real estate (CRE) sectors.
• Lenders must maintain or improve RoA/RoE while passing on marginal provisioning costs to borrowers. The credit environment for real estate and infrastructure segments could strengthen materially in FY26 and beyond

• India ranks third globally in power generation growth, with 83% of investment in clean energy and strong foreign interest driven by supportive government policies.
• McKinsey projects India could unlock USD 2 trillion across 18 high-growth sectors by 2030, potentially contributing 30 percent to incremental GDP by 2040.
• Tata Consumer Products (TATACONS IN) is embedding AI across operations to drive speed, precision, and hyper personalised engagement, signaling a bold digital pivot to redefine its FMCG growth trajectory.

• After years of falling valuations and stalled IPO activity, China’s innovative drug industry is showing early signs of a comeback.
• A spate of large-scale cross-border licensing deals is rekindling global interest and lifting stock prices, suggesting a possible shift in momentum for the sector.
• Yet despite headline-grabbing transactions and the buoyant market response, industry veterans warn the rebound may be selective, with persistent challenges still clouding the sector’s long-term outlook.