Thematic (Sector/Industry) Archives | Page 33 of 116 | Smartkarma

• Budget 2025 announced today is more focus on consumption rather than capex with focus on inclusive growth.
• No major capex and structural changes were announced in the Budget which was led to lower expectations from capital goods.
• Changes in taxation on personal income tax will be key to monitor.

• Daiichi Sankyo received seventh FDA approval for Enhertu in certain types of breast cancers. Eisai received FDA approval for Leqembi’s intravenous monthly maintenance dosing.
• Nippon Shinyaku entered into an option agreement with AB2 BIO for the rights of commercialization of Tadekinig alfa in the U.S. for certain rare autoinflammatory diseases.
• Shionogi announced positive results from Phase 2 trial of its novel investigational RSV oral antiviral candidate S-337395. Celltrion has received FDA approval for Actemra biosimilar.

• The recent market tremors sparked by DeepSeek, a Chinese AI firm, have rattled investors, prompting a wave of selling in AI stocks
• The long-term AI narrative remains compelling and the current dip could offer compelling opportunities – we highlight the sell-off in Japanese names
• The Bank of Japan’s long-standing commitment to ultra-loose monetary policy is looking increasingly untenable

• AUCTUS PUBLICATIONS ________________________________________ Corcel (CRCL LN)C; Target price of 1.00p per share: Restarting intervention activities at Tobias field -Intervention activities will soon restart at the Tobias-13 and Tobias-14 wells on Block KON-11, aiming to re-establish production at the Tobias field.
• Discovered in 1961, the Tobias field initially had an estimated 94 mmbbl of oil in place.
• Twelve wells were drilled, with eight producers reaching peak production of 17.5 mbbl/d.

• India’s economy is experiencing mixed signals across sectors. While festive spending boosted auto and FMCG sales, long-term trends in inflation, credit slowdown, and sluggish industrial activity raise concerns about growth.
• Core sector slowdown, weak rural wage growth, and high inflation could dent demand, while strong GST collections and transportation indicators suggest resilience. 
• Close monitoring of inflation, industrial performance, and rural demand trends will be key to gauging India’s economic trajectory in the coming months.

• US Stocks rose as investors assessed tech earnings, with Tesla and Meta gaining while Microsoft fell 6% on weak cloud revenue. Apple beat expectations, but iPhone disappointed.
• Japan is set to revise its Companies Act to strengthen shareholder identity disclosure, allowing companies to more easily identify actual shareholders.
• SoftBank considers a $15–$25bn investment in OpenAI, potentially valuing it at $340bn. Toyota remained the world’s top car seller, while Canon announced a ¥100bn share buyback

• Mark Zeppner provided quick and helpful tips for the quarterly call
• Boss Energy exceeded expectations on quarterly results, with lower costs and potential for future cost reduction
• Short sellers may need to reconsider their positions due to positive outlook for Boss Energy

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

• Lam Research and KLA carrying on from ASML beat earlier in the week: positive for JP SPE.
• Intel trading better after hours with earnings not a horrible as feared may help JP suppliers.
• IBM beat on its transition to services and AI offerings should help JP IT such as Fujitsu, as well as NEC and NRI who also reported yesterday.

• Vedanta Ltd (VEDL IN)  Rs 1 trillion aluminium refinery and smelter project will be set up in Odisha’s Raygada district.Company also aims to establish a university in the state.
• Hindustan Zinc (HZ IN)  has delayed its demerger plans amid government opposition and the ongoing Vedanta split. Company will prioritize new verticals, focusing on metals like gold, copper, critical minerals.
• Zepto, the quick-commerce startup, has moved its headquarters from Singapore to India ahead of its IPO. 

• A relatively unknown Chinese AI startup DeepSeek has recently caused a stir in Silicon Valley challenging the dominance of established giants like OpenAI, Alphabet (GOOGL US) Meta Platforms (Facebook) (META US).
• DeepSeek’s V3 model has a total of 671Bn parameters, or settings inside the AI model that it adjusts as it learns, it is actually only using 37Bn at a time.
• The reported $5.5 million figure is not the total cost for developing DeepSeek-V3, it represents a significant portion of the training expenses. 

• US markets fall as tech stocks slide – Fed holds rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while Tesla rises despite weak results.
• Fed cautious on inflation and rates – Officials see trade and immigration pressures, inflation remains elevated, job market solid, and a higher bar for further rate cuts.
• Strong earnings from Japan Inc.  – Advantest’s profit up 2.7x, Makita’s net profit up 65%,  & Shin Etsu’s profit rises 6%.

• Indian media firms, including NDTV, Network18, and the Indian Express, filed a lawsuit against OpenAI, accusing the company of scraping their content to train AI models without proper copyright permission.
• Larsen & Toubro (LT IN)  lost a Rs 70,000 crore tender for building six submarines after its bid was deemed non-compliant by the Defence Ministry.
• UBS is in advanced talks with India’s 360 One WAM to form a joint venture aimed at expanding its wealth management presence in India, a rapidly growing market for HNI.

• DeepSeek R1 is more than an open-source AI platform; it’s a geopolitical tool designed to reshape global collaboration, attract talent, and influence AI standards under the guise of transparency.
• DeepSeek R1’s low-budget claim crafts the illusion of cost-efficiency, aimed at redirecting capital away from expensive U.S.-based AI ventures toward China’s AI ecosystem.
• Launched during Trump’s inward-focused rhetoric, DeepSeek projects China as a viable, inclusive, and progressive alternative to the U.S., signaling a collaborative economic and trade option for nations.

• Huge print from ASML set a positive tone, but the potential for tighter NVDA restrictions weighed on sentiment.
• Big selling for Corning off the highs as guidance not enough to justify the run… may see weakness in Fujikura and Furukawa.
• Strong numbers from Advantest will also help sentiment for Japan SPE.

• Investment community is too bearish on Pd, a strategic metal, it has strong growth dynamics looking forward. Future supplies will be physically constrained, whether from Russia and/or South Africa.
• Palladium (Pd) demand to grow 26% over the next decade. Production dominated by Russia and South Africa. Russian production sustainability under question
• Virtually all global Pd production is via by-product. Significant price rises required to incentivise additional supply  

• Global platinum demand declined ~18% in the past decade, with the consumption nadir will be reached during 2025.
• Decline in diesel vehicle sales have plateaued, with Industrial/chemical demand to exceed autocatalyst by 2035.
• Platinum prices to remain flat for foreseeable future, but others in the basket may climb (e.g. palladium).

• Key events in Japanese retailing this week include Muji raising forecasts for this FY and opening its biggest store ever, at 8,500 sqm as it goes after the food market.
• LINE Yahoo acquires Beenos in a bid to capture more of the fast-expanding cross-border e-commerce market.
• Fast growing, and Zozo-owned, online mall Yutori buys a cosmetics brand and in a sign of the serous labour shortage, Familymart moves to single manager franchises.

• DeepSeek’s R1 is a game changer that’s taken the world by storm. It’s a fantastic accomplishment by a Chinese team and a huge endorsement of the open source approach
• US competitors have egg on their faces now, but they will adapt. Competition is always a good thing & the future of AI just got a whole lot brighter
• Last night’s selloff was a Chinese New Year gift. Just accept it. Happy CNY to all!

• The Nasdaq jumped over 2% – Nvidia surged nearly 9%, leading the rally after shedding $589 billion in market value the previous session. 
• The U.S. Federal Reserve’s FOMC decision and Chair Jerome Powell’s press conference will be closely watched. Earnings from Tesla, Meta Platforms, and Microsoft are also in focus
• Sumitomo Heavy has acquired French semiconductor equipment manufacturer LASSE, bolstering its European presence and global semiconductor business

• Limited breadth of winners, even in the SOX, with numerous DeepSeek and capex questions outstanding.
• Regardless expect JP SPE to be higher to start; watch Advantest into numbers today after its -19% 2-day drop.
• IT/SaaS companies are worth a look here with AI R&D costs now potentially much lower including Fujitsu and NEC.

• A new AI platform named DeepSeek threatens today’s Large Language Model status quo
• Certain chip companies have become over-dependent on AI, including Nvidia, Samsung, SK hynix, and Micron, and their stock has tumbled
• It’s too early to tell what will occur over the long term

• Singapore banks are earning record profits, driven by elevated net interest margins and rising fee income.
• Assets under management (AUM) grew significantly in 2024 for Singapore’s banks. DBS leads with S$401bn of AUM as of 3Q24 (+13.6% YoY), while OCBC reported S$284bn of AUM (+5.2% YoY), and UOB reached S$186bn.
• Total non-interest income for DBS, OCBC, and UOB in 3Q24 rose 29% YoY to over S$5bn combined.

• India’s retail inflation dipped to a four-month low of 5.22% in December 2024, aided by moderating food prices and stable core inflation below 4%.
• Although food inflation subsided, especially in vegetables, prices remain elevated, keeping inflation above the 4% RBI target and impacting monetary policy decisions and household spending.
• With structural shifts in CPI weightage and strong agricultural prospects, inflation looks more manageable, suggesting cautious optimism but underscoring the RBI’s readiness to adjust rates if pressures resurface.

• On the surface, Japan is burdened with an ageing, declining population and a consumer economy where inflation is the only important topic of conversation. 
• But this belies the fact that the shops are full and retailers are, on the whole, more profitable than ever.
• Households remain wealthy with growing stocks of savings and 2025 will be all about unlocking this money.

• Sri Lanka revokes a power purchase agreement with Adani Group amidst corruption allegations. While the group denies the accusations, the new government is reevaluating the project.
• Reliance Consumer Products acquires SIL Food India, a packaged foods brand, to strengthen its FMCG portfolio and to compete with giants Hindustan Unilever (HUVR IN)  and Tata Consumer Products (TATACONS IN).
• Despite inflation, demand for premium products like groceries, spirits, clothing, and shoes remains strong, especially in cities. 

• Suntec REIT’s future outlook uncertain, with analysts predicting lower estimates for FY2025-FY2026.
• OUE REIT’s performance post FY2024 results continues to divide opinions amongst analysts.
• DBS maintains ‘buy’ rating and $3 target price for Seatrium, while reporting weak overseas assets for MPACT in 3QFY2025.

• India’s economy is facing a temporary slowdown but there is one sector which ditched the slowdown trend 
• The leader of sector just said their upcoming quarter Q4FY25 will be similar to Q3FY25.
• The hotel sector is slowly turning into a non-cyclical sector from a cyclical sector.

• The Nasdaq tumbled over 3% on Monday, driven by a selloff in AI-related stocks after China’s DeepSeek claimed its AI assistant rivals leading models at lower costs
• Nvidia (-17%) led the decline, shedding $589 billion in market value, while chipmakers like ARM (-10%) and Broadcom (-17%) also fell
• FANUC raised its full-year ordinary profit forecast to ¥190 billion from ¥185 billion, marking its third consecutive upward revision this fiscal year.

• Dynam Japan is the largest operator of Pachinko halls in Japan.
• The company has been profitable for the past15 years, though profits have been in decline.
• Their halls are mostly located in suburban areas with less competition, but they do have some in big cities.

• Employment picture worsened in December. We believe Chinese government will erect hiring-related corporate subsidy in 2025;
• Early attempts at street drink overseas have failed. But new attempts from Luckin might well work, over time;
• Tesla’s new Model Y received a raving reception from Chinese consumers. But we doubt it can last.

• Will we see more of the same ineffectual export curbs or a lightening of export restrictions?
• Expect a continued rotation into all things non-tech in JP including Home Builders who jumped overnight as yields sank.
• Plenty of shorts with ample downside including Hitachi, Fuji Elec, Hokkaido Elec outside of the mainstay AI plays.

• Following on from our last HK piece, we take a closer look at the tech sector
• While the overall HSTECH index provides a good risk-reward, some
• Individual E-commerce & software names offer much more upside than  downside

• Almost one and half years ago, I wrote about “The Curious Case of Big Tech”, in which I highlighted that much of the big tech was actually “deep value” investments back in 2013.
• In fact, I also mentioned “Meta, and Amazon are currently trading at lower OCF multiple than they were trading back in 2013”.
• Both Meta and Amazon have comfortably outperformed both S&P 500 and Nasdaq 100 since then (not claiming any causal relationship, of course).

• MPACT’s overseas assets underperformed in 3QFY2025 according to analysts, highlighting a weakness in that area of the business.
• DBS has launched ETFs in US equities, AI, small caps, and gold, expecting them to perform well under Trump 2.0 presidency.
• Both RHB and DBS remain optimistic about ESR REIT despite a decrease in DPU, indicating a bullish outlook on the real estate investment trust.

• The Indian train control system industry is on the cusp of remarkable growth, driven by a forecasted CAGR of 12.7% through CY30
• His surge is propelled by the increasing adoption of advanced safety technologies like Kavach, coupled with the government’s strategic focus on modernizing railway infrastructure. 
• High capital investments, technical barriers and infrastructure limitations are of the challengers sector is facing

• Historically, the “housing market” in China largely meant the market for the development of new homes, with the secondary market playing a much smaller role
• But this has changed in the past 2 years, with a greater shift of demand to secondary, given the risks of developers not delivering, and the lower prices in secondary
• Based on the data for both segments, for 10 major cities, we illuminate in this note the ‘primary vs secondary’ dynamics and its implications

• Academia was troubled last week by Trump’s broad pause on external communications from federal health agencies, disrupting study sections (NIH), public health publications (CDC), and treatment guidelines (FDA).
• The pause remains in effect until February 1, which happens to be after RFK Jr.’s confirmation hearings for HHS secretary on January 29 and 30.
• In industry news, NVO saw some redemption with positive amycretin obesity data, with a positive read-through for ZLDPF

• The technology sector was a major drag, with Big Tech stocks such as Nvidia (-3.1%) and Texas Instruments (-7.5%) leading the decline.
• Meta plans to invest $60-65 billion in expansion this year, a significant increase from its initial $38-40 billion forecast
• FUJIFILM Holdings will invest over 100 billion yen by March 2027 to expand its semiconductor materials business

• Oasis have turned up on the register of Topcon with a 7.3% stake. Topcon are exploring way to enhance corporate value…ie a bidding war for private equity sale
• City Index have taken a significant stake in Furukawa Machinery – the company will be under pressure to allocate capital more effectively
• City Index have also gone large in Oji Holdings. The company is already doing sensible things to improve its valuation, but there is more to be done. 

• Power/Analog names set for a weak start after the negative read-through from Texas Industries numbers Friday.
• Disco numbers looks overly conservative and a good chace to revisit with ‘Stargate’ gains erased after Fridays drop.
• Sapporo Holdings quelling concerns its main activist investor was divesting should be enough to see this rebound.

• New smartphone trade-in subsidy received raving response from Chinese consumers;
• Tencent and NetEase gained key game title approvals. Entertainment is a good choice in uncertain environment of 2025;
• From a slight moderating C4Q24, we expect strong showing in domestic travel demand heading into CNY.

• Daiichi Sankyo received FDA approval for Datroway for the treatment of unresectable or metastatic hormone receptor (HR) positive, HER2 negative breast cancer who have received prior endocrine-based therapy and chemotherapy.
• Sumitomo Pharma partnered with J&J for co-promotion of the long-acting antipsychotic medication XEPLION. Shanghai Fosun Pharma’s proposed buyout of Shanghai Henlius Biotech for HK$5.4B (~$693M) failed to pass shareholders’ vote.
• SK Bioscience signed a co-promotion and distribution agreement with Sanofi for RSV and hepatitis A vaccines. Hugel received approval for its botulinum toxin for five indications from the UAE.

• AI tools are increasing in usage and transforming various industries, particularly in areas like engineering, sales, and marketing
• Companies like ramp are leveraging AI to automate processes and improve productivity, leading to significant cost savings
• The government and other organizations can benefit from AI tools to identify and eliminate wasteful spending and improve efficiency in procurement and operations.

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

• DBS emphasizes TSV project as a significant initiative for GVT, showcasing its strategic importance for growth and development.
• CGSI forecasts robust earnings for companies like Sembcorp, Seatrium, iFast, FLCT, Singtel, and SIA, indicating a positive outlook for the market.
• DBS reaffirms its positive outlook on OUE REIT, citing improved operating performance as a key factor in maintaining a ‘buy’ rating for the company.

• For the week, the Nikkei added 4.1% while the Topix gained 2.7%. Stocks were buoyed by a rebound in AI-related beneficiaries: Fujikura (22%), Softbank (+16%), and Advantest (+10%).
• The “Magnificent Seven”  stocks have added a staggering $11 trillion in market cap since the start of 2023—an amount equivalent to two entire Japanese stock markets.
• If investors want MORE U.S and MORE Tech exposure, Softbank has positioned itself at the front and centre of the AI revolution. 

• AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Historic permit award in Italy opens a new growth area – ADX has been offered and accepted the “d 363 C.R-.AX” permit in the Sicily Channel, offshore Italy, covering a maximum area of 346 km2.
• ADX applied for the permit in 2018, but the moratorium on awarding new exploration blocks in Italy was only lifted last year.
• ADX will become a licensed operator in Italy as well as Austria and Romania.

• Markets were boosted by President Trump’s comments on potential interest rate cuts and oil price reductions.
• The Bank of Japan is expected to raise interest rates by 25bps to 0.5% on Friday – levels not seen since 2008
• Nidec’s Q3 operating profit rose 5% to 54.5 billion yen, driven by strong demand for data centre power generators. However, it missed analyst expectations. 

• Food Empire stock should be retained as the company plans to diversify its business, potentially leading to increased profitability.
• HSBC has raised Singtel’s target price in anticipation of a potential merger in the telecom industry, suggesting room for growth.
• Investors should consider holding onto Food Empire stock and possibly increasing investment in Singtel due to positive outlooks for both companies.

• This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress
• We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
• We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to the sources

• The ICR Conference has become an important event for investors in small- and mid-cap consumer names.
• This year’s conference drew more than 2,600 attendees, including nearly 500 buyside investors and 225 public and private companies.
• Some common themes included: The more global names are concerned about the strength in the dollar adversely affecting dollar-reported results.