Monday morning links

A new format for the newsletter today. I added buybacks, insider buys and recent IPO data. I also introduced colours to make the newsletter easier to scan quickly.


($ = behind paywall)

  • I wrote a deep-dive on a Japanese karaoke equipment maker Daiichi Kosho (TSE: 7458 — US$2.0 billion) ($)

  • The Circle of Competence blog on Chinese search engine Baidu (Part 2) (NASDAQ: BIDU — US$62 billion) (h/t: Aaron Pek)

  • Olivier at Emergingvalue on Southeast Asia-focused holding company First Pacific (SEHK: 142 — US$1.7 billion). Over the weekend, Olivier also shared his thoughts on Twitter about three Hong Kong small-caps.

  • The Calico Capital Substack on Japanese small-cap tech stock Beenos (TSE: 3328 — US$372 million)

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

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

  • Xinyi Glass: US$9.7 million (HKSE: 868 — US$12 billion)

  • Gelex Group: US$8.5 million (HOSE: GEX — US$841 million)

  • Dong Hai: US$1.6 million (HOSE: DHC — US$289 million)

  • Global Consumer PCL: US$1.2 million (SET: GLOCON — US$78 million)

  • Jaymart: US$1.1 million (SET: JMART — US$363 million)

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

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China H-shares trade at a 10-year record discount to their respective A-shares


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

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