reports
- Leonard Law
- Trung Nguyen
- Chris Hoare
Rakuten (Reduce, ¥510, -36%) Q2 25 Quick Take: Better mobile, but ove...
Q2 was a mixed bag as both revenue and EBITDA accelerated and are tracking well against the full year expectations, however, net losses were higher YoY than expected on tax and delinquency charges for Rakuten Card (~¥4.9bn), higher tax and minority interest and lower net finance income.
- Felix Fischer
Asia Monthly – July 2025 In Review - Lucror Analytics
In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in July 2025. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the top/bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on deve...
M04 MGM CHINA HOLDINGS LIMITED
MAS MELCO RESORTS & ENTERTAINMENT LIMITED SPONSORED ADR
JSWSTEEL JSW STEEL LIMITED
00813 SHIMAO GROUP HOLDINGS LIMITED
XGH CHINA WATER AFFAIRS GROUP LIMITED
00817 ENN ENERGY HOLDINGS LIMITED
CHINA JINMAO HOLDINGS GROUP LIMITED
01238 CENTRAL CHINA REAL ESTATE LIMITED
00992 POWERLONG REAL ESTATE HOLDINGS LTD.
VED LENOVO GROUP LIMITED
02777 VEDANTA RESOURCES PLC
03383 GUANGZHOU R&F PROPERTIES CO. LTD. CLASS H
TATASTEEL AGILE GROUP HOLDINGS LIMITED
4755 TATA STEEL LIMITED
MEDC RAKUTEN INC.
ICT PT MEDCO ENERGI INTERNASIONAL TBK
01098 INTERNATIONAL CONTAINER TERMINAL SERVICES INC.
00603 ROAD KING INFRASTRUCTURE LIMITED
OL5 CHINA OIL & GAS GROUP LTD.
Z25 SHUI ON LAND LTD.
SXC YANLORD LAND GROUP LIMITED
03377 SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00880 SINO-OCEAN GROUP HOLDING LTD.
INDY SJM HOLDINGS LIMITED
8WY PT INDIKA ENERGY TBK
01668 WYNN MACAU LTD.
WFG1 CHINA SOUTH CITY HOLDINGS LIMITED
01030 WEST CHINA CEMENT LTD.
00884 SEAZEN GROUP LTD.
JPFA CIFI HOLDINGS (GROUP) CO. LTD.
00142 JAPFA COMFEED INDONESIA
600803 FIRST PACIFIC CO. LTD.
JFC ENN ECOLOGICAL HOLDINGS (A)
7201 JOLLIBEE FOODS CORP.
KIJA NISSAN MOTOR CO. LTD.
BIOCON PT KAWASAN INDUSTRI JABABEKA TBK CLASS A
9984 BIOCON LIMITED
SM SOFTBANK GROUP CORP.
00405 SM INVESTMENTS CORPORATION
KOU YUEXIU REAL ESTATE INVESTMENT TRUST
VLL KWG GROUP HOLDINGS LIMITED
00656 VISTA LAND & LIFESCAPES INC.
ADANIPORTS FOSUN INTERNATIONAL LIMITED
PWON ADANI PORTS & SPECIAL ECONOMIC ZONE LTD.
ICBP PT PAKUWON JATI TBK
TBIG PT INDOFOOD CBP SUKSES MAKMUR TBK
599A PT TOWER BERSAMA INFRASTRUCTURE TBK
TATAMOTORS SANDS CHINA LTD.
ADANITRANS TATA MOTORS LIMITED
POWR ADANI TRANSMISSION LTD.
AZRE PT CIKARANG LISTRINDO TBK
01112 AZURE POWER GLOBAL LTD.
VHM HEALTH AND HAPPINESS (H&H) INTERNATIONAL HOLDINGS LIMITED
MSC VINHOMES
ADANIGREEN STUDIO CITY INTERNATIONAL HOLDINGS ADS
00017 ADANI GREEN ENERGY LIMITED
RNW NEW WORLD DEVELOPMENT CO. LTD.
PGEO RENEW ENERGY GLOBAL PLC
PT. PERTAMINA GEOTHERMAL ENERGY
- Chris Hoare
KDDI (Buy, ¥3,150, +24%) Q1 FY25 Quick Take: Modest start but managem...
Q1 results were a touch softer than expected as trends in Business moderated. Tone remains encouraging for mobile to further accelerate in the second half as the impact of new mobile plans and price increase begin to flow through. Guidance remains unchanged. We continue to see good upside surprise in Mobile and stay Buyers with a ¥3,150 price target.
- Leonard Law
- Trung Nguyen
- Leonard Law
- Trung Nguyen
- Felix Fischer
Asia Monthly – June 2025 In Review - Lucror Analytics
In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in June 2025. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the top/bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on deve...
M04 MGM CHINA HOLDINGS LIMITED
MAS MELCO RESORTS & ENTERTAINMENT LIMITED SPONSORED ADR
JSWSTEEL JSW STEEL LIMITED
00813 SHIMAO GROUP HOLDINGS LIMITED
XGH CHINA WATER AFFAIRS GROUP LIMITED
00817 ENN ENERGY HOLDINGS LIMITED
CHINA JINMAO HOLDINGS GROUP LIMITED
01238 CENTRAL CHINA REAL ESTATE LIMITED
00992 POWERLONG REAL ESTATE HOLDINGS LTD.
VED LENOVO GROUP LIMITED
02777 VEDANTA RESOURCES PLC
03383 GUANGZHOU R&F PROPERTIES CO. LTD. CLASS H
TATASTEEL AGILE GROUP HOLDINGS LIMITED
4755 TATA STEEL LIMITED
MEDC RAKUTEN INC.
ICT PT MEDCO ENERGI INTERNASIONAL TBK
01098 INTERNATIONAL CONTAINER TERMINAL SERVICES INC.
00603 ROAD KING INFRASTRUCTURE LIMITED
OL5 CHINA OIL & GAS GROUP LTD.
Z25 SHUI ON LAND LTD.
SXC YANLORD LAND GROUP LIMITED
03377 SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00880 SINO-OCEAN GROUP HOLDING LTD.
INDY SJM HOLDINGS LIMITED
8WY PT INDIKA ENERGY TBK
01668 WYNN MACAU LTD.
WFG1 CHINA SOUTH CITY HOLDINGS LIMITED
01030 WEST CHINA CEMENT LTD.
00884 SEAZEN GROUP LTD.
JPFA CIFI HOLDINGS (GROUP) CO. LTD.
00142 JAPFA COMFEED INDONESIA
600803 FIRST PACIFIC CO. LTD.
JFC ENN ECOLOGICAL HOLDINGS (A)
KIJA JOLLIBEE FOODS CORP.
BIOCON PT KAWASAN INDUSTRI JABABEKA TBK CLASS A
9984 BIOCON LIMITED
SM SOFTBANK GROUP CORP.
00405 SM INVESTMENTS CORPORATION
KOU YUEXIU REAL ESTATE INVESTMENT TRUST
VLL KWG GROUP HOLDINGS LIMITED
00656 VISTA LAND & LIFESCAPES INC.
ADANIPORTS FOSUN INTERNATIONAL LIMITED
PWON ADANI PORTS & SPECIAL ECONOMIC ZONE LTD.
ICBP PT PAKUWON JATI TBK
TBIG PT INDOFOOD CBP SUKSES MAKMUR TBK
599A PT TOWER BERSAMA INFRASTRUCTURE TBK
TATAMOTORS SANDS CHINA LTD.
ADANITRANS TATA MOTORS LIMITED
POWR ADANI TRANSMISSION LTD.
AZRE PT CIKARANG LISTRINDO TBK
01112 AZURE POWER GLOBAL LTD.
VHM HEALTH AND HAPPINESS (H&H) INTERNATIONAL HOLDINGS LIMITED
MSC VINHOMES
ADANIGREEN STUDIO CITY INTERNATIONAL HOLDINGS ADS
00017 ADANI GREEN ENERGY LIMITED
RNW NEW WORLD DEVELOPMENT CO. LTD.
PGEO RENEW ENERGY GLOBAL PLC
PT. PERTAMINA GEOTHERMAL ENERGY
- Chris Hoare
Japanese Telcos Q4 FY24 review: Inflationary telco market
Japan’s mobile sector accelerated again in Q4 and we think is heading to above inflation. With both KDDI and DCM recently announcing price increases the environment is increasingly benign and should be helped by NTT’s recent acquisition of SBI Sumishin Net Bank. Our recent trip to Japan highlighted how positive the environment is; NTT stays our preferred pick, with KDDI closely behind.
- Felix Fischer
Asia Monthly – May 2025 In Review - Lucror Analytics
In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in May 2025. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the top/bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on devel...
M04 MGM CHINA HOLDINGS LIMITED
MAS MELCO RESORTS & ENTERTAINMENT LIMITED SPONSORED ADR
JSWSTEEL JSW STEEL LIMITED
00813 SHIMAO GROUP HOLDINGS LIMITED
XGH CHINA WATER AFFAIRS GROUP LIMITED
00817 ENN ENERGY HOLDINGS LIMITED
CHINA JINMAO HOLDINGS GROUP LIMITED
01238 CENTRAL CHINA REAL ESTATE LIMITED
00992 POWERLONG REAL ESTATE HOLDINGS LTD.
VED LENOVO GROUP LIMITED
02777 VEDANTA RESOURCES PLC
03383 GUANGZHOU R&F PROPERTIES CO. LTD. CLASS H
TATASTEEL AGILE GROUP HOLDINGS LIMITED
4755 TATA STEEL LIMITED
MEDC RAKUTEN INC.
ICT PT MEDCO ENERGI INTERNASIONAL TBK
01098 INTERNATIONAL CONTAINER TERMINAL SERVICES INC.
00603 ROAD KING INFRASTRUCTURE LIMITED
OL5 CHINA OIL & GAS GROUP LTD.
Z25 SHUI ON LAND LTD.
SXC YANLORD LAND GROUP LIMITED
03377 SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00880 SINO-OCEAN GROUP HOLDING LTD.
INDY SJM HOLDINGS LIMITED
8WY PT INDIKA ENERGY TBK
01668 WYNN MACAU LTD.
WFG1 CHINA SOUTH CITY HOLDINGS LIMITED
SCNR WEST CHINA CEMENT LTD.
01030 SUNAC CHINA HOLDINGS LTD.
00884 SEAZEN GROUP LTD.
JPFA CIFI HOLDINGS (GROUP) CO. LTD.
00142 JAPFA COMFEED INDONESIA
600803 FIRST PACIFIC CO. LTD.
JFC ENN ECOLOGICAL HOLDINGS (A)
KIJA JOLLIBEE FOODS CORP.
BIOCON PT KAWASAN INDUSTRI JABABEKA TBK CLASS A
9984 BIOCON LIMITED
SM SOFTBANK GROUP CORP.
00405 SM INVESTMENTS CORPORATION
KOU YUEXIU REAL ESTATE INVESTMENT TRUST
VLL KWG GROUP HOLDINGS LIMITED
00656 VISTA LAND & LIFESCAPES INC.
ADANIPORTS FOSUN INTERNATIONAL LIMITED
PWON ADANI PORTS & SPECIAL ECONOMIC ZONE LTD.
ICBP PT PAKUWON JATI TBK
TBIG PT INDOFOOD CBP SUKSES MAKMUR TBK
599A PT TOWER BERSAMA INFRASTRUCTURE TBK
TATAMOTORS SANDS CHINA LTD.
ADANITRANS TATA MOTORS LIMITED
POWR ADANI TRANSMISSION LTD.
AZRE PT CIKARANG LISTRINDO TBK
01112 AZURE POWER GLOBAL LTD.
VHM HEALTH AND HAPPINESS (H&H) INTERNATIONAL HOLDINGS LIMITED
MSC VINHOMES
ADANIGREEN STUDIO CITY INTERNATIONAL HOLDINGS ADS
00017 ADANI GREEN ENERGY LIMITED
RNW NEW WORLD DEVELOPMENT CO. LTD.
PGEO RENEW ENERGY GLOBAL PLC
PT. PERTAMINA GEOTHERMAL ENERGY
- Chris Hoare
Takeaways from Meetings with the Japanese Telcos + Rakuten in Tokyo. D...
We met with all 3 of the incumbent Japanese Telcos & Rakuten in Tokyo last week, as well as visiting Osaka to talk to NTT in more depth about IOWN. Overall, we remain bullish on Japanese telcos operationally and buyers of all three incumbents. NTT remains our top pick followed by KDDI.
- Leonard Law
- Trung Nguyen
- Chris Hoare
Rakuten (Reduce, ¥510, -42%) Q1 25 Quick Take: Mixed, mobile momentum...
Profits disappointed despite revenue being 1% ahead of expectations, partly driven by one-off non cash hedging costs. Mobile remains weak as sequential improvement in MNO revenue slowed materially, as net adds slowed and ARPU fell sequentially
- Chris Hoare
KDDI (Buy, ¥3,150, +22%) Q4 24 Quick Take: Good revenue growth; big b...
KDDI reported a better top-line, and generous shareholder remuneration. However, guidance is largely in line and leaves us wondering what happens after the company hits it in March ’26. Within this space, NTT remains our preferred pick on potential upside catalysts (IOWN revenue optionality, NTT Data and Fixed line rebound) while KDDI remains a close second with a ¥3,150 price target.
- Felix Fischer
Asia Monthly – April 2025 In Review - Lucror Analytics
In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in April 2025. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the top/bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on dev...
M04 MGM CHINA HOLDINGS LIMITED
MAS MELCO RESORTS & ENTERTAINMENT LIMITED SPONSORED ADR
JSWSTEEL JSW STEEL LIMITED
00813 SHIMAO GROUP HOLDINGS LIMITED
XGH CHINA WATER AFFAIRS GROUP LIMITED
00817 ENN ENERGY HOLDINGS LIMITED
CHINA JINMAO HOLDINGS GROUP LIMITED
01238 CENTRAL CHINA REAL ESTATE LIMITED
00992 POWERLONG REAL ESTATE HOLDINGS LTD.
VED LENOVO GROUP LIMITED
02777 VEDANTA RESOURCES PLC
03383 GUANGZHOU R&F PROPERTIES CO. LTD. CLASS H
TATASTEEL AGILE GROUP HOLDINGS LIMITED
4755 TATA STEEL LIMITED
MEDC RAKUTEN INC.
ICT PT MEDCO ENERGI INTERNASIONAL TBK
01098 INTERNATIONAL CONTAINER TERMINAL SERVICES INC.
00603 ROAD KING INFRASTRUCTURE LIMITED
OL5 CHINA OIL & GAS GROUP LTD.
Z25 SHUI ON LAND LTD.
SXC YANLORD LAND GROUP LIMITED
03377 SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00880 SINO-OCEAN GROUP HOLDING LTD.
INDY SJM HOLDINGS LIMITED
8WY PT INDIKA ENERGY TBK
01668 WYNN MACAU LTD.
WFG1 CHINA SOUTH CITY HOLDINGS LIMITED
SCNR WEST CHINA CEMENT LTD.
01030 SUNAC CHINA HOLDINGS LTD.
00884 SEAZEN GROUP LTD.
JPFA CIFI HOLDINGS (GROUP) CO. LTD.
00142 JAPFA COMFEED INDONESIA
600803 FIRST PACIFIC CO. LTD.
JFC ENN ECOLOGICAL HOLDINGS (A)
KIJA JOLLIBEE FOODS CORP.
BIOCON PT KAWASAN INDUSTRI JABABEKA TBK CLASS A
9984 BIOCON LIMITED
SM SOFTBANK GROUP CORP.
00405 SM INVESTMENTS CORPORATION
KOU YUEXIU REAL ESTATE INVESTMENT TRUST
VLL KWG GROUP HOLDINGS LIMITED
00656 VISTA LAND & LIFESCAPES INC.
ADANIPORTS FOSUN INTERNATIONAL LIMITED
PWON ADANI PORTS & SPECIAL ECONOMIC ZONE LTD.
ICBP PT PAKUWON JATI TBK
TBIG PT INDOFOOD CBP SUKSES MAKMUR TBK
599A PT TOWER BERSAMA INFRASTRUCTURE TBK
TATAMOTORS SANDS CHINA LTD.
ADANITRANS TATA MOTORS LIMITED
POWR ADANI TRANSMISSION LTD.
AZRE PT CIKARANG LISTRINDO TBK
01112 AZURE POWER GLOBAL LTD.
VHM HEALTH AND HAPPINESS (H&H) INTERNATIONAL HOLDINGS LIMITED
MSC VINHOMES
ADANIGREEN STUDIO CITY INTERNATIONAL HOLDINGS ADS
00017 ADANI GREEN ENERGY LIMITED
RNW NEW WORLD DEVELOPMENT CO. LTD.
PGEO RENEW ENERGY GLOBAL PLC
PT. PERTAMINA GEOTHERMAL ENERGY
- Felix Fischer
Asia Trade Book - April 2025 - Lucror Analytics
The Asia Trade Book for April 2025 includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds across Asia HY and crossover credits. Please reach out to our analysts to discuss any of these ideas, or other trade recommendations from our Asia coverage.
M04 MGM CHINA HOLDINGS LIMITED
MAS MELCO RESORTS & ENTERTAINMENT LIMITED SPONSORED ADR
JSWSTEEL JSW STEEL LIMITED
00813 SHIMAO GROUP HOLDINGS LIMITED
XGH CHINA WATER AFFAIRS GROUP LIMITED
00817 ENN ENERGY HOLDINGS LIMITED
CHINA JINMAO HOLDINGS GROUP LIMITED
01238 CENTRAL CHINA REAL ESTATE LIMITED
00992 POWERLONG REAL ESTATE HOLDINGS LTD.
VED LENOVO GROUP LIMITED
02777 VEDANTA RESOURCES PLC
03383 GUANGZHOU R&F PROPERTIES CO. LTD. CLASS H
TATASTEEL AGILE GROUP HOLDINGS LIMITED
4755 TATA STEEL LIMITED
MEDC RAKUTEN INC.
ICT PT MEDCO ENERGI INTERNASIONAL TBK
01098 INTERNATIONAL CONTAINER TERMINAL SERVICES INC.
00603 ROAD KING INFRASTRUCTURE LIMITED
OL5 CHINA OIL & GAS GROUP LTD.
Z25 SHUI ON LAND LTD.
SXC YANLORD LAND GROUP LIMITED
03377 SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00880 SINO-OCEAN GROUP HOLDING LTD.
INDY SJM HOLDINGS LIMITED
8WY PT INDIKA ENERGY TBK
01668 WYNN MACAU LTD.
WFG1 CHINA SOUTH CITY HOLDINGS LIMITED
SCNR WEST CHINA CEMENT LTD.
01030 SUNAC CHINA HOLDINGS LTD.
00884 SEAZEN GROUP LTD.
JPFA CIFI HOLDINGS (GROUP) CO. LTD.
00142 JAPFA COMFEED INDONESIA
600803 FIRST PACIFIC CO. LTD.
JFC ENN ECOLOGICAL HOLDINGS (A)
KIJA JOLLIBEE FOODS CORP.
BIOCON PT KAWASAN INDUSTRI JABABEKA TBK CLASS A
9984 BIOCON LIMITED
SM SOFTBANK GROUP CORP.
00405 SM INVESTMENTS CORPORATION
KOU YUEXIU REAL ESTATE INVESTMENT TRUST
VLL KWG GROUP HOLDINGS LIMITED
00656 VISTA LAND & LIFESCAPES INC.
ADANIPORTS FOSUN INTERNATIONAL LIMITED
PWON ADANI PORTS & SPECIAL ECONOMIC ZONE LTD.
ICBP PT PAKUWON JATI TBK
TBIG PT INDOFOOD CBP SUKSES MAKMUR TBK
599A PT TOWER BERSAMA INFRASTRUCTURE TBK
TATAMOTORS SANDS CHINA LTD.
ADANITRANS TATA MOTORS LIMITED
POWR ADANI TRANSMISSION LTD.
AZRE PT CIKARANG LISTRINDO TBK
01112 AZURE POWER GLOBAL LTD.
VHM HEALTH AND HAPPINESS (H&H) INTERNATIONAL HOLDINGS LIMITED
MSC VINHOMES
ADANIGREEN STUDIO CITY INTERNATIONAL HOLDINGS ADS
00017 ADANI GREEN ENERGY LIMITED
RNW NEW WORLD DEVELOPMENT CO. LTD.
PGEO RENEW ENERGY GLOBAL PLC
PT. PERTAMINA GEOTHERMAL ENERGY
- Chris Hoare
Japanese and EM Telcos 3 Action points for investors in EM and Japane...
No doubt investors are busy fighting fires. But additional to our thoughts from last week we thought it might be helpful to offer 3 further action points for investors in EM & Japanese Telcos that we would be taking in response to market turmoil. Very brief thoughts below.
- Chris Hoare
Global EM Telcos & Japanese Telcos Tariffs – Impact on Global EM & Ja...
Perhaps the biggest surprise from last night’s White House announcement was the scale of tariffs imposed on Asian exporters (and South Africa). Being an ally of America provided no benefit with Thailand (36%) facing higher tariffs than China (34%). By contrast, Latin America and Sub-Saharan Africa are less negatively impacted, and may even benefit overall from dollar weakness. We run through likely implications for our coverage in Global EM and Japan. Spoiler alert: we see Rakuten as most negati...
- Felix Fischer
Asia Monthly – March 2025 In Review - Lucror Analytics
In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in March 2025. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the top/bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on dev...
M04 MGM CHINA HOLDINGS LIMITED
MAS MELCO RESORTS & ENTERTAINMENT LIMITED SPONSORED ADR
JSWSTEEL JSW STEEL LIMITED
00813 SHIMAO GROUP HOLDINGS LIMITED
XGH CHINA WATER AFFAIRS GROUP LIMITED
00817 ENN ENERGY HOLDINGS LIMITED
CHINA JINMAO HOLDINGS GROUP LIMITED
01238 CENTRAL CHINA REAL ESTATE LIMITED
00992 POWERLONG REAL ESTATE HOLDINGS LTD.
VED LENOVO GROUP LIMITED
02777 VEDANTA RESOURCES PLC
03383 GUANGZHOU R&F PROPERTIES CO. LTD. CLASS H
TATASTEEL AGILE GROUP HOLDINGS LIMITED
4755 TATA STEEL LIMITED
MEDC RAKUTEN INC.
ICT PT MEDCO ENERGI INTERNASIONAL TBK
01098 INTERNATIONAL CONTAINER TERMINAL SERVICES INC.
00603 ROAD KING INFRASTRUCTURE LIMITED
OL5 CHINA OIL & GAS GROUP LTD.
Z25 SHUI ON LAND LTD.
SXC YANLORD LAND GROUP LIMITED
03377 SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00880 SINO-OCEAN GROUP HOLDING LTD.
INDY SJM HOLDINGS LIMITED
8WY PT INDIKA ENERGY TBK
01668 WYNN MACAU LTD.
WFG1 CHINA SOUTH CITY HOLDINGS LIMITED
SCNR WEST CHINA CEMENT LTD.
01030 SUNAC CHINA HOLDINGS LTD.
00884 SEAZEN GROUP LTD.
JPFA CIFI HOLDINGS (GROUP) CO. LTD.
00142 JAPFA COMFEED INDONESIA
600803 FIRST PACIFIC CO. LTD.
JFC ENN ECOLOGICAL HOLDINGS (A)
KIJA JOLLIBEE FOODS CORP.
BIOCON PT KAWASAN INDUSTRI JABABEKA TBK CLASS A
9984 BIOCON LIMITED
SM SOFTBANK GROUP CORP.
00405 SM INVESTMENTS CORPORATION
KOU YUEXIU REAL ESTATE INVESTMENT TRUST
VLL KWG GROUP HOLDINGS LIMITED
00656 VISTA LAND & LIFESCAPES INC.
ADANIPORTS FOSUN INTERNATIONAL LIMITED
PWON ADANI PORTS & SPECIAL ECONOMIC ZONE LTD.
ICBP PT PAKUWON JATI TBK
TBIG PT INDOFOOD CBP SUKSES MAKMUR TBK
599A PT TOWER BERSAMA INFRASTRUCTURE TBK
TATAMOTORS SANDS CHINA LTD.
ADANITRANS TATA MOTORS LIMITED
POWR ADANI TRANSMISSION LTD.
AZRE PT CIKARANG LISTRINDO TBK
01112 AZURE POWER GLOBAL LTD.
VHM HEALTH AND HAPPINESS (H&H) INTERNATIONAL HOLDINGS LIMITED
MSC VINHOMES
ADANIGREEN STUDIO CITY INTERNATIONAL HOLDINGS ADS
00017 ADANI GREEN ENERGY LIMITED
RNW NEW WORLD DEVELOPMENT CO. LTD.
PGEO RENEW ENERGY GLOBAL PLC
PT. PERTAMINA GEOTHERMAL ENERGY
- Pelham Smithers
PSA Strategy: Japan Stock Market Quarterly for 2025 Q2
In this quarterly strategy report, we look to evaluate where we are with regards the bull market conditions, and where those indicators might be headed, factoring in the downside risks, from Trump tariffs and the US economy, BoJ actions, Japanese earnings and valuations.
AMAT APPLIED MATERIALS INC.
6146 DISCO CORPORATION
5108 BRIDGESTONE CORPORATION
7751 CANON INC.
9697 CAPCOM CO. LTD.
4519 CHUGAI PHARMACEUTICAL CO. LTD.
4755 RAKUTEN INC.
9684 SQUARE ENIX HOLDINGS CO. LTD.
8473 SBI HOLDINGS INC.
6954 FANUC CORPORATION
4324 DENTSU GROUP INC.
6861 KEYENCE CORPORATION
6869 SYSMEX CORPORATION
8306 MITSUBISHI UFJ FINANCIAL GROUP INC.
6501 HITACHI LTD.
6305 HITACHI CONSTRUCTION MACHINERY CO. LTD.
7267 HONDA MOTOR CO. LTD.
6301 KOMATSU LTD.
6503 MITSUBISHI ELECTRIC CORP.
6723 RENESAS ELECTRONICS CORPORATION
7974 NINTENDO CO. LTD.
6594 NIDEC CORPORATION
7731 NIKON CORP.
8604 NOMURA HOLDINGS INC.
7733 OLYMPUS CORP.
4666 PARK24 CO. LTD.
2371 KAKAKU.COM INC.
9984 SOFTBANK GROUP CORP.
1803 SHIMIZU CORPORATION
4063 SHIN-ETSU CHEMICAL CO LTD
6758 SONY CORPORATION
7269 SUZUKI MOTOR CORP.
1801 TAISEI CORP
6857 ADVANTEST CORP.
4186 TOKYO OHKA KOGYO CO. LTD.
8035 TOKYO ELECTRON LTD.
7203 TOYOTA MOTOR CORP.
2413 M3 INC.
2160 GNI GROUP LTD.
3659 NEXON CO. LTD.
6098 RECRUIT HOLDINGS CO. LTD.
3769 GMO PAYMENT
6460 JP SEGA SAMMY
4385 MERCARI INC.
3993 PKSHA TECHNOLOGY INC.
9434 SOFTBANK CORP.
78320 BANDAI NAMCO
45870 PEPTIDREAM INC
3491 JT GA TECHNOLOGIES
3394 JT MONEY FOWARD
6532 JT BAYCURRENT CONSULTING (6532 JT)
4483 JMDC
4180 JP APPIER GROUP
TSE: 2980 SRE HOLDINGS CORP
4194 VISIONAL INC
6526 SOCIONEXT INC
5032 JT ANYCOLOR INC
5838 RAKUTEN BANK LTD.
5253 JT COVER CORPORATION (5253 JT)
9616 JT KYORITSU MAINTENANCE (9616 JT)
- Felix Fischer
Asia Monthly – February 2025 In Review - Lucror Analytics
In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in February 2025. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the top/bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on ...
M04 MGM CHINA HOLDINGS LIMITED
MAS MELCO RESORTS & ENTERTAINMENT LIMITED SPONSORED ADR
JSWSTEEL JSW STEEL LIMITED
00813 SHIMAO GROUP HOLDINGS LIMITED
XGH CHINA WATER AFFAIRS GROUP LIMITED
00817 ENN ENERGY HOLDINGS LIMITED
CHINA JINMAO HOLDINGS GROUP LIMITED
01238 CENTRAL CHINA REAL ESTATE LIMITED
00992 POWERLONG REAL ESTATE HOLDINGS LTD.
VED LENOVO GROUP LIMITED
02777 VEDANTA RESOURCES PLC
03383 GUANGZHOU R&F PROPERTIES CO. LTD. CLASS H
TATASTEEL AGILE GROUP HOLDINGS LIMITED
4755 TATA STEEL LIMITED
MEDC RAKUTEN INC.
ICT PT MEDCO ENERGI INTERNASIONAL TBK
01098 INTERNATIONAL CONTAINER TERMINAL SERVICES INC.
00603 ROAD KING INFRASTRUCTURE LIMITED
OL5 CHINA OIL & GAS GROUP LTD.
Z25 SHUI ON LAND LTD.
SXC YANLORD LAND GROUP LIMITED
03377 SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00880 SINO-OCEAN GROUP HOLDING LTD.
INDY SJM HOLDINGS LIMITED
8WY PT INDIKA ENERGY TBK
01668 WYNN MACAU LTD.
WFG1 CHINA SOUTH CITY HOLDINGS LIMITED
SCNR WEST CHINA CEMENT LTD.
01030 SUNAC CHINA HOLDINGS LTD.
00884 SEAZEN GROUP LTD.
JPFA CIFI HOLDINGS (GROUP) CO. LTD.
00142 JAPFA COMFEED INDONESIA
600803 FIRST PACIFIC CO. LTD.
KIJA ENN ECOLOGICAL HOLDINGS (A)
BIOCON PT KAWASAN INDUSTRI JABABEKA TBK CLASS A
9984 BIOCON LIMITED
SM SOFTBANK GROUP CORP.
00405 SM INVESTMENTS CORPORATION
KOU YUEXIU REAL ESTATE INVESTMENT TRUST
VLL KWG GROUP HOLDINGS LIMITED
00656 VISTA LAND & LIFESCAPES INC.
ADANIPORTS FOSUN INTERNATIONAL LIMITED
PWON ADANI PORTS & SPECIAL ECONOMIC ZONE LTD.
ICBP PT PAKUWON JATI TBK
TBIG PT INDOFOOD CBP SUKSES MAKMUR TBK
599A PT TOWER BERSAMA INFRASTRUCTURE TBK
TATAMOTORS SANDS CHINA LTD.
ADANITRANS TATA MOTORS LIMITED
POWR ADANI TRANSMISSION LTD.
AZRE PT CIKARANG LISTRINDO TBK
01112 AZURE POWER GLOBAL LTD.
VHM HEALTH AND HAPPINESS (H&H) INTERNATIONAL HOLDINGS LIMITED
MSC VINHOMES
ADANIGREEN STUDIO CITY INTERNATIONAL HOLDINGS ADS
00017 ADANI GREEN ENERGY LIMITED
RNW NEW WORLD DEVELOPMENT CO. LTD.
PGEO RENEW ENERGY GLOBAL PLC
PT. PERTAMINA GEOTHERMAL ENERGY
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.