Monday morning links

  • Japan’s defence spending pledge: Japan’s ruling party LDP pledged to increase defence spending to 2% of GDP - twice the current level. That would be a boon to defence contractors such as Mitsubishi Heavy and Kawasaki Heavy. I have previously written about Japanese defence companies here.

  • Japan booster shots: Japan’s new LDP leader Fumio Kishida announced that the government would begin administer third booster shots to the elderly population In December. This bolsters the Japanese recovery thesis.

  • DRAM supply glut: Taiwanese memory chip market research firm TrendForce predicted a new DRAM down-cycle next year due to shortages of processors and driver integrated circuits.

  • Hong Kong’s semi-reopening: From Wednesday 13 October 2021, residents from Macau and China’s Guangdong province can now travel quarantine-free to Hong Kong. But since quarantine is still required on the way back to mainland China, mainland tourism to Hong Kong is expected to remain muted.

Company-specific reports

(estimated reading time)

  • Drawbridge Research wrote yet another instalment of its Sony deep-dive - this time about Sony’s console gaming segment (TSE: 6758 — US$140 billion)

  • Macro Ops on Japanese crowdfunding platform Makuake (TSE: 4479 — US$521 million)

Long-form writing

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

Podcasts and videos

(listening time)

Chart of the week – Singapore sector P/Es today vs their 5-year averages: consumer stocks are cheaper than before

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

If you enjoyed this post, please consider joining 186 other full subscribers of Asian Century Stocks by pressing the button below. You will then have immediate access to the archive of past articles, 20+ deep-dives per year, thematic industry reports and access to our subscriber chat group on Telegram.

Join now