Monday morning links

There is an increasing amount of evidence that Pfizer-BioNTech’s and Moderna’s mRNA vaccines don’t work as well against B.1.617, the variant responsible for India’s recent outbreak.

China’s Jan-Apr thermal power generation rose +12% compared to the same period two years ago, despite a tepid consumer recovery.

Net inflows of funds into China reached a 7-year high in 1Q21 as global investors purchased Chinese bonds.

Bytedance founder Zhang Yiming stepped down as CEO, the latest in a long string of Chinese tech CEOs handing over the leadership of their companies. One day later, the government accused TikTok of improperly collecting data.

The retail tranche of JD Logistics IPO was over-subscribed 200x and raised US$3.2 billion despite a recent weakening of Hong Kong’s IPO market.

According to defence minister Nobuo Kishi, Japan is likely to scrap the 1% GDP cap on defence spending.

Singapore’s government said it would ramp up its vaccination drive to give all adults one COVID-19 shot by early August.

Asian stock ideas

  • Front Month Substack discussing the future of Hong Kong Exchanges and Clearing (SEHK:388 — US$74 billion)

  • A new research company called Swan Street Research published a negative report on Chinese social media company Yalla Group (NYSE:YALA — US$2.4 billion)

  • nipponNuggets on Japanese business communication app Chatwork (SEHK:4448 — US$346 million)

  • The Value Investing Substack discussing Malaysia’s Innature Berhad (KLSE:INNATURE — US$105 million)

Long-form writing

Podcasts and videos

Chart of the week – Japan’s vaccination rate is improving rapidly

If you would like to support me and get 20x high-quality Asian investment ideas per year, thematic reports and catalyst-specific ideas, try out the Asian Century Stocks subscription service - for the price of a few weekly cappuccinos. Check out my previous ideas here.

Get 30 day free trial

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