Monday morning links
During the Chinese Communist Party’s 100th anniversary, Xi Jinping commented that:
“Anyone who dares try to [bully the nation] will have their heads bashed bloody against the Great Wall of steel forged by over 1.4 billion Chinese people.”
and
“We seek to settle the Taiwan issue in order to complete the nation’s reunification.”
China’s home rental prices rose by their fastest in over 2 years.
Gaming revenues in Macau rose for the fifth straight month in June. Macau’s and Hong Kong’s borders will open in mid-July with no quarantine needed.
Hong Kong banned all incoming flights from the UK, allegedly due to the Delta variant of COVID-19 but possibly also related to a surge in emigration to the UK.
Indonesia faces a second wave of the COVID-19 (Delta variant) and is now imposing restrictions in Java and Bali.
Malaysia issued new digital banking licenses last Wednesday.
Japan’s defence minister Yasuhide Nakayama called on Japan’s allies to recognise Taiwan as a country.
South Korean biotech firms have joined forced to co-develop a homegrown mRNA vaccine with production starting next year.
Notable IPOs: China’s ride-hailing company Didi, South PUBG developer Krafton, Korean Internet bank KakaoBank, biotech company Hutchmed, China bubble tea company Nayuki
Company-specific reports
Yet Another Value Blog discussing the Huya / Douyu spread trade (NYSE:HUYA — US$2.2 billion) / (NASDAQ:DOYU — US$1.0 billion)
Searching 4 Value on Japan’s Shinoken (JASDAQ:8909 — US$381 million)
Core Convictions Substack on JD Logistics (SEHK:2618 — US$33 billion)
Koneko Research on China’s Newater (NASDAQ:NEWA — US$37 million) merger arb
Long-form writing
I revisited my past stock ideas ($)
I wrote an industry primer on Asia’s condom industry ($)
An interview with Aaron Pek, who focuses on Malaysian value stocks
JPMorgan’s 3Q21 guide to markets
Nikkei: Key winners and losers among Asian stocks year-to-date ($)
Nippon Nuggets: What happened in Japan’s stock market during 2Q21?
Pew Survey: Views of China remain largely negative (except in Singapore)
Bloomberg: A housing frenzy is sparking bidding wars from NYC to Shenzhen ($)
Book review of Joe Studwell’s How Asia Works
Glenn Chan: Most of humanity will catch the coronavirus
Doomberg Substack on Chinese pork prices
Palladium Mag: China's state capacity through the lens of party drug availability
Nikkei: an overview of ASEAN countries’ efforts to vaccinate their populations ($)
Podcasts and videos
I did an interview with Kalani Scarrott who runs the excellent Substack “Curated by Kalani” (44 mins)
China Beige Book’s Leland Miller on weakening credit growth in China (5 mins)
Warren Buffett & Charlie Munger with a strange comment on China (43 mins)
Ray Dalio: Is the stock market in a bubble? (9 mins)
CCP’s anniversary commentary: Larry Summers (39 mins), The Economist Radio (23 mins), Richard McGregor (1:02 hours)
Amit Anand on Value Walk: How to invest in India (40 mins)
Chart of the week – Migration of inventors for each country, 2000-2010
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Thanks for reading, and I wish you a great week ahead!