Thematic (Sector/Industry) Archives | Page 19 of 116 | Smartkarma

US stocks ended mixed Friday as geopolitical tensions and rate cut speculation shaped sentiment.
The US launched airstrikes on Iran’s Fordow, Natanz, and Isfahan nuclear sites, marking a direct intervention in Israel’s campaign to dismantle Tehran’s nuclear program
Deloitte Tohmatsu reported a surge in shareholder activism in Japan, with 43 shareholder proposals for director elections and dismissals at 2025

Japan Morning Connection: US Directly Attacks Iran and Requests Japan to Spend 5% of GDP on Defense

Masayoshi Son is floating a $1trn AI factory in Arizona in exchange for tax breaks.
NTT Data out, Rohm in. Downside for Ibiden, but also small buying for Fasty, Terumo, Konami and others.
Renesas announces details of its Wolfspeed restructuring deal which includes kitchen sinking the losses this year.

HK Strategy: Trend of Narrowing H-A IPO Discount

By Osbert Tang, CFA

The 6 H-share IPOs of the listed A-share companies YTD have seen their H-A discount narrowing from an average of 31% during IPO to 15.5% currently.
Larger-Cap ones tend to be priced and traded at a smaller discount to their A-shares. However, they are not necessarily those seeing the most significant narrowing in discount.
Foshan Haitian Flavouring & Food Company (3288 HK) may further narrow its discount, while Zhejiang Sanhua Intelligent Controls (2050 HK) also sees upside from such a perspective.

Thematic Report: Indian Paper Sector – At the Bottom, Is It the Right Time?

By Nimish Maheshwari

Paper imports have doubled in four years, with FY-25 Chinese inflows up 33 %; domestic mills’ Q4 profits collapsed 50-70 %.
Predatory pricing is idling one-third of India’s capacity, derailing INR 30,000Crs expansion plans and jeopardising jobs in a sector crucial for plastic-free packaging demand.
Near-Term recovery hinges less on demand and more on policy; anti-dumping duties could swiftly restore utilisation and margins, making FY-26 a pivotal re-rating year.

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Jun 22

Daily Brief Thematic (Sector/Industry): China Property Management Sector: Navigating Turbulence for Investment Opportunities and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

China Property Management Sector: Navigating Turbulence for Investment Opportunities
APAC Healthcare Weekly (June 22)- Samsung Biologics, Daewoong Pharma, Shionogi, Simcere, CSL

China Property Management Sector: Navigating Turbulence for Investment Opportunities

We initiated research on the China property management sector. The PMC sector is characterized by its asset light nature, stable recurring revenue as well as net cash balance sheet
The relationship between PMCs and parent developer is multi-faceted. Although PMCs are fundamentally safer, we think investors need to restore their confidence in developers first for re-rating to occur
For investors with higher risk tolerance, we think LONG CR MixC and LONG COPL (both backed by SOE developers) offer a favourable risk-reward profile

APAC Healthcare Weekly (June 22)- Samsung Biologics, Daewoong Pharma, Shionogi, Simcere, CSL

By Tina Banerjee

Samsung Biologics launches organoid-based drug screening services to support early-stage drug discovery and development. Daewoong Pharmaceutical signed a five-year KRW74B export agreement for botulinum toxin product with its Thailand partner.
Shionogi’s tender offer for Torii Pharmaceutical has become successful. Simcere stuck outlicensing agreement with NextCure for ADC drug candidate SIM0505 for upfront payment, development, and sales milestones up to $745M.
CSL received FDA approval of Andemry for hereditary angioedema. PharmaEssentia has received marketing approval of Besremi in Argentina. Lotus Pharmaceutical acquires a portfolio of five drugs in Vietnam.

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Jun 21

Daily Brief Thematic (Sector/Industry): Japan Strategy Weekly | The Nikkei Is Back in Fashion and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Japan Strategy Weekly | The Nikkei Is Back in Fashion
AUCTUS ON FRIDAY – 20/06/2025
[Blue Lotus Daily-TMT Update]:3690 HK/JD US/1439927D CH/4689 JP/4755 JP/4385 JP/700 HK/NTESUS/BABAUS

Japan Strategy Weekly | The Nikkei Is Back in Fashion

A 1.5% gain last week lifted the benchmark to 38,403, its highest in four months; Semiconductor stocks surged
Japan’s 10-year government bond yield dipped to 1.39%, while the yen fell 1.1% to ¥145.32 against the dollar – its weakest in three weeks.
Sega Sammy surged 18% this week following a well-received management meeting that emphasized clear strategic direction and strong shareholder engagement.

AUCTUS ON FRIDAY – 20/06/2025

By Auctus Advisors

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas prospects – ADX has initiated the farm-out process for the GOLD cluster of shallow gas prospects in ADX-AT-II.
This cluster includes the GOLD (A&C), GOLD (B), GRAB, and ZAUN prospects, with a combined P50 prospective resource estimate of 12.1 bcf (13.3 bcf on a mean basis).
GOLD accounts for 7.5 bcf, while ZAUN and GRAB hold 2.7 bcf and 1.9 bcf, respectively.

[Blue Lotus Daily-TMT Update]:3690 HK/JD US/1439927D CH/4689 JP/4755 JP/4385 JP/700 HK/NTESUS/BABAUS

By Ying Pan

3690 HK: Meituan Food Delivery Daily Orders Reach 90 Million (+)
JD US: JD Officially Launches OTA Hotel and Travel Business with Three-Year Zero Commission Policy(+/-/-)
1439927D CH/4689 JP/4755 JP/4385 JP: TikTok Announces Launch of Japan E-commerce Business as Early as This Month (+/-/-/-)

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Jun 20

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Two Weeks to Negotiate and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | Two Weeks to Negotiate
Asia Monetary Easing: Tailored for Income-Generating Real Estate
Australia Real Estate: Seeking Values
#164 India Insights: TCS-Salling AI Deal, Hindustan Zinc 12k Cr Capex, Falcon Jets by 2028

Ohayo Japan | Two Weeks to Negotiate

Trump said he will make a decision on whether to launch military strike on Iran “within next two weeks;” otherwise markets quiet – ie. closed
Seven & i Holdings will sell part of its Seven Bank stake, reducing its shareholding to 39.9%, making it an equity-method affiliate
Sony projects 90% of major global automakers will adopt its automotive CMOS sensors by fiscal 2027, aiming for a 43% market share.

Asia Monetary Easing: Tailored for Income-Generating Real Estate

The Fed announced to hold rates unchanged, but the SEP indicates they expect 2 rate cuts in 2025 and 1 more in 2026. Tariff remains a short-term concern
Under such a macro backdrop, we think key economies in Asia (with the exception of Japan) will continue their monetary easing path
Real estate will benefit from lower interest rates. We like Goodman Group on the back of its strong global industrial exposure, and CICT SP, on its well-diversified exposure in Singapore

Australia Real Estate: Seeking Values

Australia’s central bank RBA has recently cut rates in May meeting, with market expecting more rate cuts to come. We expect this will provide tailwind for real estate
Within real estate sub-sectors, industrial & logistics and retail are well supported by strong fundamentals. Office and residential are seeing mixed pictures
We like Goodman on its global exposure on industrial and logistics. We also like Vicinity Centers due to its exposure on quality retail.

#164 India Insights: TCS-Salling AI Deal, Hindustan Zinc 12k Cr Capex, Falcon Jets by 2028

Tata Consultancy Svcs (TCS IN) partners with Denmark’s Salling Group for AI-based digital and cloud transformation across 2,100 stores, aligning with its ‘Aspire 28’ growth vision.
Hindustan Zinc (HZ IN) announces INR 12,000 crore capex to double metal capacity in 36 months, aiming to meet surging demand and enhance long-term stakeholder value.
Dassault Aviation SA (AM FP) and Reliance Industries (RIL IN) will build Falcon 2000 jets in India by 2028, making Nagpur a global hub for jet manufacturing and assembly excellence.

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Jun 19

Daily Brief Thematic (Sector/Industry): Asia Data Center REITs: The AI-Driven Generational Investment Opportunity and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Asia Data Center REITs: The AI-Driven Generational Investment Opportunity
Ohayo Japan | Fed in No Rush to Cut Rates
Japan Morning Connection: Fears over Iran Continue to Diminish Despite the Spectre of US Involvement
Thematic Report: Ozempic- Weight Loss Drug Revolution
Charted Insights: Is Indian Earnings Recovery in Q4FY25 Sustainable?
Furniture/Furnishings Weekly ‘Crisis Mode’ Return-To-Office
Biopharma Week in Review – Vaccine Advisory Board Overhaul Sudden but Not Surprising
Thematic Report on Gold Loan Revolution: Formalizing the Sector for a Transparent Future

Asia Data Center REITs: The AI-Driven Generational Investment Opportunity

Driven by long-term structural drivers including cloud computing adoption, digital transformation, 5G network rollout, we think Data Centers in Asia can be a generational investment opportunity
Keppel DC REIT and Digital Core REIT are pure plays listed in Singapore. Keppel is Singapore-concentrated, offering stable growth. DC REIT’s portfolio is global, and backed by Digital Realty
We think interest rate volatility, regulatory framework and data localization policies, as well as market supply have to be taken into consideration when investors are making investment decisions

Ohayo Japan | Fed in No Rush to Cut Rates

US stocks flat after the Federal Reserve kept interest rates unchanged
Marvell (MRVL) +7% on bullish AI guidance. Momentum in U.S. semi names continues to support investor appetite for global tech exposure
Activist investor, Effissimo Capital Management, increased its stake in UACJ

Japan Morning Connection: Fears over Iran Continue to Diminish Despite the Spectre of US Involvement

Marvell the latest US tech major to raise its TAM for AI helping buoy related names.
Deal that sees Wolfspeed briefly dipping into chapter11 may bode well for Renesas.
Sega Sammy lays out plans to get its valuations up and inline with peers as games surge given their tariff resilience.

Thematic Report: Ozempic- Weight Loss Drug Revolution

By Nimish Maheshwari

Once overlooked, Ozempic (semaglutide) has become a multi-billion-dollar drug, transforming the landscape of weight loss and chronic disease management due to its remarkable efficacy.
With new FDA-approved indications for cardiovascular risk, chronic kidney disease, and obesity, Ozempic is driving massive market growth, set to dominate the GLP-1 receptor agonist sector.
While patent protection and high demand fuel growth, the impending expiration in key markets like India and competition from emerging drugs will impact pricing and market dynamics.

Charted Insights: Is Indian Earnings Recovery in Q4FY25 Sustainable?

BSE500 reported a recovery in PAT growth from 8% YoY in Q3FY25 to 10% YoY in Q4FY25, but top-line growth remained flat at just 8%, continuing a weak trend.
Margin expansion was cost-driven, with wage bill growth slowing to 5% YoY i.e. its lowest level post-COVID impacting future consumption potential.
FY26 BSE500 EPS estimates were cut by 3% in Q4, totaling a 10% downgrade YoY, signaling stagnation despite index valuation rollover.

Furniture/Furnishings Weekly ‘Crisis Mode’ Return-To-Office

By Water Tower Research

Middle East conflict and tariff policy uncertainty weigh down the market.
The WTR Commercial/Contract Furniture Index declined 3.6%, the Residential Manufacturers & Suppliers Index fell 3.4%, and the Home Goods Retailers Index was down 1.7%, as the broader market indices declined 0.5% and the R2K fell 2.1%.
Innovation sprints and ‘crisis’ response drive return-to- office policies (1), at least for one hedge fund who is demanding that staff commit to five days a week at the office in order to address recent performance shortcomings, with management arguing that “experience has shown that a period of highly focused, in-person collaboration allows significant research progress to be made in a relatively short amount of time.”

Biopharma Week in Review – Vaccine Advisory Board Overhaul Sudden but Not Surprising

By Water Tower Research

Pharma benefited from some defensive sector rotation, led by the big obesity duo, LLY and NVO, ahead of this week’s major diabetes conference (ADA 2025).
Vaccine concerns reached new heights as RFK Jr. suddenly (but not surprising) dismantled the CDC’s ACIP (vaccine expert panel) and replaced it with vaccine skeptics to reshape vaccine policy and guidance.
Most- Favored-Nation (MFN) appeared to be in a stand-off as the 30- day deadline (June 11) for drug price targets passed without any action.

Thematic Report on Gold Loan Revolution: Formalizing the Sector for a Transparent Future

The RBI’s new policy introduces tiered LTV ratios, stricter collateral eligibility, and standardized gold valuation processes across banks, NBFCs, and co-operative banks.
This shift aims to enhance transparency, protect borrowers, reduce systemic risk, and formalize the gold loan market, promoting responsible lending and financial inclusion.
The policy significantly strengthens the gold loan ecosystem, ensuring greater trust and stability, while improving access to credit for underserved populations, especially in rural areas.

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Jun 18

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Unconditional Surrender and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | Unconditional Surrender
“Buy the Worst” HSI Strategy: Solid Gains in 1H25
Japan Morning Connection: Risk-Off Tape Unlikely to Last with Regime Change the Most Likely Outcome
GDS and VNET – Recent Pullback Provides Entry Opportunity, Long-Term AI Growth Solid and Strong
Valuations, Visas & Venture Pullback: An Equity + M&A Overview of the Education Sector in Q1 2025
[Blue Lotus Daily-TMT Update]:BABA US/JD US/1810 HK/700 HK/NTES US/BIDU US/E-Commerce
[Blue Lotus Daily]:1211 HK/ TSLA US/LI US/ 1810 HK /XPEV US/New Energy Vehicles
#163 India Insight: Steel Tax To Cut Imports By 50%, ADD on Chemicals, BAT to Exit ITC Hotel’s Stake
Charted Insights: Evaluating Indian Sectoral Positioning After FY25 Earnings
Middle East FX & Egypt, June 17th 2025

Ohayo Japan | Unconditional Surrender

US stocks fell Tuesday as escalating tensions between the US and Iran weighed on sentiment, with President Trump calling for Iran’s “unconditional surrender”
Honda’s subsidiary successfully demonstrated a reusable small rocket, launching and landing a 6.3-meter craft in Hokkaido, targeting suborbital space by 2029.
Nissan Motor announced the redesign of its Leaf electric vehicle, the first update in eight years, transforming it into a compact SUV

“Buy the Worst” HSI Strategy: Solid Gains in 1H25

By Osbert Tang, CFA

The “Buy the worst” basket has outperformed the HSI by a massive 16.7pp YTD, mainly boosted by Chow Tai Fook Jewellery (1929 HK) and Wuxi Biologics (2269 HK).
The best-performing constituents in 2024, however, lagged behind the HSI, dragged down by Trip.com Group (9961 HK) and Meituan (3690 HK).
Government’s consumption boost should benefit Chow Tai Fook Jewellery (1929 HK), Budweiser Brewing APAC (1876 HK), and Hang Lung Properties (101 HK) in 2H25.

Japan Morning Connection: Risk-Off Tape Unlikely to Last with Regime Change the Most Likely Outcome

Defense related plays stronger as the potential for US direct involvement in Iran grows…watch heavies for more upside.
Kioxia squeeze unlikely to last now lock-up expiry now past.
Nintendo back at the highs, but with record sales already priced in and Switch2 sold out a correction from here looks likely.

GDS and VNET – Recent Pullback Provides Entry Opportunity, Long-Term AI Growth Solid and Strong

Both GDS and VNET declined more than 70% from all time high. We think both stocks are over-penalized by market from top-down macro-economic reasons and geo-political tensions
We think there is a dis-connect between the share price and solid company fundamentals. The explosive growth in demand for AI and Cloud computing infrastructure remains strong
GDS is a mature, blue-chip name that offers sustainable profitability while on de-leveraging. VNET is a high-growth, high-risk turnaround play with its wholesale offering higher short-term upside

Valuations, Visas & Venture Pullback: An Equity + M&A Overview of the Education Sector in Q1 2025

By Daniel Su

The education sector remains resilient despite headline privatisations, with market cap only slightly down to US$142bn after the removal of PowerSchool Holdings (PWSC US) and Instructure Holdings (INST US).
AI disruption is reshaping the landscape, with key players like Chegg Inc (CHGG US) collapsing while innovators like Duolingo (DUOL US) surge, highlighting a potential shift in investor focus.
M&A and IPO activity is reawakening, with KinderCare Learning (KLC US) ‘s IPO, India’s robust upcoming pipeline, and renewed private equity interest pointing to a cyclical upturn.

[Blue Lotus Daily-TMT Update]:BABA US/JD US/1810 HK/700 HK/NTES US/BIDU US/E-Commerce

By Ying Pan

BABA US: Eleme to Invest Additional RMB1 Billion in Merchant Support Over Next Three Months(-)
JD US/1810 HK:May Retail Sales Growth Exceeds Expectations, Online Growth Slightly Accelerates (+/+)
JD US : JD.com Sponsors “Jiangsu Super League” . (+)

[Blue Lotus Daily]:1211 HK/ TSLA US/LI US/ 1810 HK /XPEV US/New Energy Vehicles

By Eric Wen

1211 HK : BYD Issues Super Short-Term Commercial Paper. (-)
1211 HK/ TSLA US/LI US/1810 HK /XPEV US:2025 June 9 – June 15 NEV Delivery Rankings(+/+/-/-//)
New Energy Vehicles: Lithium Carbonate Price Falls to 60,000 Yuan/Ton (+)

#163 India Insight: Steel Tax To Cut Imports By 50%, ADD on Chemicals, BAT to Exit ITC Hotel’s Stake

India expects steel imports to fall by 50% as new tax supports local industry. Rising demand shows the steel sector is set for strong growth.
India imposes five-year anti-dumping duties on Vitamin A Palmitate and Insoluble Sulphur imports to protect domestic producers, signaling stronger trade enforcement amid global competition.
British American Tobacco (BATS LN) plans to exit its 14.55% stake in ITC Hotels post-demerger, focusing on core operations. The move may reshape ownership and boost institutional participation.

Charted Insights: Evaluating Indian Sectoral Positioning After FY25 Earnings

BSE500 PAT growth slowed over 50% to 10%, not demand-led, with revenue stable below 10% This warrants careful sectoral positioning due to cost-driven margins.
Pharma, FMCG, Paints are at peak 10-year margins, offering limited upside. Durables, Chemicals, Cement, QSR offer margin potential if demand improves.
Persistent EPS downgrades across key sectors like Export Auto (-11%), Non-lending Financials (-7%), Apparel/Retail (-6%), and Pharmaceuticals imply stretched valuations whereas telecom and consumer services avoided negative revision of EPS.

Middle East FX & Egypt, June 17th 2025

By Denis Collot

Some observations : with the events, we got to discover the living rooms and studies of many Middle East intelligence and military consultants/specialists/experts.
All commenting a bit far from the action but some are interesting even though it doesn’t in anyway preclude what is going to happen next, only Israel PM Mr Netanyahu and Iran’s Supreme Leader Ali Khameini might know.
One thing that is rarely mentioned or talked about is a similar operation that Israel undertook in June 1981 and codenamed Operation Babylon that saw a daring air force raid destroyed an unfinished nuclear reactor a short distance away from Baghdad.

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Jun 17

Daily Brief Thematic (Sector/Industry): Ohayo Japan | Wall Street Rebounds as Geopolitical Tensions Ease and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

Ohayo Japan | Wall Street Rebounds as Geopolitical Tensions Ease
Japan Morning Connection: Markets Seeing Iran’s Potential Demise as Fuel to Risk-On Fire
Monday Delight: 16/06/25
#162 India Insights: Tata Chips Push, NSDL IPO, Jio BlackRock Gets SEBI Nod, New CEO Named
Charted Insights : India’s Corporate Profit-To-GDP Ratio: A Structural Shift

Ohayo Japan | Wall Street Rebounds as Geopolitical Tensions Ease

US stocks rebounded Monday as geopolitical tensions eased, with the Dow rising over 300 points, the S&P 500 gaining nearly 1%
AMD (+8.8%), CoreWeave (+7.8%), and Teradyne (+5.5%) advanced, while Lockheed Martin (-4%), Northrop (-3.8%) and L3Harris (-3.6%) declined
NTT DoCoMo will acquire a 47% stake in CARTA HOLDINGS, a Dentsu Group subsidiary, for 25 billion yen via a tender offer

Japan Morning Connection: Markets Seeing Iran’s Potential Demise as Fuel to Risk-On Fire

Big gains for AMD with analysts more upbeat than last weeks reaction to its AI conference suggests.
Advantest 9.6% yesterday on broker comments should see market hunting for laggards such as Kokusai Electric.
Estee lauder seeing an uptick in China may help beleaguered Shiseido and Kose move higher.

Monday Delight: 16/06/25

By Contrarian Cashflows

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!

#162 India Insights: Tata Chips Push, NSDL IPO, Jio BlackRock Gets SEBI Nod, New CEO Named

Tata Electronics sends hundreds to Taiwan for semiconductor training, fast-tracking India’s fab ambitions with skilled talent, global leadership, and a ₹1.2 lakh crore investment plan.
NSDL plans a $400M IPO in July, with 50.1M shares offered by SBI, NSE, and IDBI Bank marking a key milestone in India’s financial infrastructure story.
Jio Financial Services (JIOFIN IN) BlackRock has secured SEBI approval to operate as investment adviser, advancing its digital-first wealth platform and appointing Marc Pilgrem as CEO of the advisory arm.

Charted Insights : India’s Corporate Profit-To-GDP Ratio: A Structural Shift