Monday morning links

The biggest takeaway over the past week has been the importance of reviewing the holdings of key activist funds. They are a great source of ideas, especially in Japan, where shareholder activism is becoming more common.

($ = behind paywall)

  • I wrote a discussion about the Bank of Kyoto (TSE: 8369 — US$3.4 billion) ($)

  • Best ideas from Asia-focused funds: Part 1 and Part 2 (numerous stocks)

  • Discussion of Singapore-headquartered SaaS-company Karooooo in Desert Lion Capital’s 3Q21 report (NASDAQ: KARO — US$1.1 billion)

(Largest new programs as % of market cap; min market cap: US$50m)

  1. AksharChem India (24%) (BSE: AKSHARCHEM — US$55 million)

  2. MPS Ltd (7%) (NSE: MPSLTD — US$169 million)

  3. Komatsu Matere (5%) (TSE: 3580 — US$337 million)

  4. Tokyotokeiba (4%) (TSE: 9672 — US$1.1 billion)

  5. Fukoku (3%) (TSE: 5185 — US$144 million)

(Largest over past 7 days; min market cap: US$50m)

  1. Xinyi Glass: US$6.3 million (HKSE: 868 — US$12 billion)

  2. Haichang Ocean Park: US$2.5 million (HKSE: 2255 — US$1.0 billion)

  3. Mobile World Investment: US$1.6 million (HOSE: MWG — US$4.1 billion)

  4. Vinda International: US$1.6 million (HKSE: 3331 — US$3.3 billion)

  5. Kingboard Holdings: US$440k (HKSE: 148 — US$4.9 billion)

(estimated reading time) ($ = behind a paywall)

(listening time)

China’s monthly official PMI

Thanks for reading, and I wish you a great week ahead!

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