Monday morning links
The major news over the past week has been Alibaba’s record US$2.8 billion fine for engaging in anti-competitive behaviour. The Godzilla vs Kong blockbuster continues to do well in the box office, providing hope for an Asian cinema recovery. A few notable South Korean IPOs now in the pipeline: South Korea’s Internet Bank KakaoBank, EV battery maker LG Energy Solution and PUBG creator Krafton. Singaporean ride hailing company Grab is planning a US$34 billion US SPAC deal. Significant flare-ups in COVID-19 cases in Japan, India and the Philippines over the past few months and new lock-downs are instituted to deal with the problem. Vaccinations for the elderly in Japan will finally start on Monday. Meanwhile, many fear Tokyo Olympics in July will turn into a superspreader event.
Asian stock ideas
I wrote a report on Indonesian chocolate manufacturer Delfi (SGX:DELFI — US$392 million)
Whitebox goes activist on LG Corp (KOSE: 003550 — US$14 billion)
Hindenburg short report China-base crypto company Ebang (NASDAQ: EBON — US$854 million)
Lillian Li deep-dive on Chinese video platform Bilibili (paywall) (NASDAQ: BILI — US$40 billion)
JPMorgan’s Guide to the Markets 2Q21
WSJ: China creates its own digital currency, a first for major economy (paywall)
Professor Niall Ferguson: Don’t let China mint the money of the future
Alex Turnbull on the weakness in PRC’s human capital stock
New York Times: Surviving the crackdown in Xinjiang
Semi-Literate on the automotive chip shortage
Japanese megabanks on the defensive as Rakuten Internet bank accounts >10m
US and Japan plan 'Belt and Road' alternative for Indo-Pacific
China’s film authority orders all cinemas to screen propaganda films at least 2x/week
US and Chinese carrier groups mass in the South China Sea
The National Interest: Is China really plotting to invade Taiwan?
Podcasts and videos
Business Breakdowns podcast episode on Alibaba (47 mins)
Lillian Li on the bear case for Meituan (1:13 hours)
Li Lu of Himalaya Capital interviewed by Bruce Greenwald (1:32 hours)
Felix Zulauf on his broad macro views (Feb 2021 recording; 1:04 hours)
Louis Gave discussing broad global macro trends, including the USD (59 mins)
New York Times discussing Myanmar’s military (25 mins)
The Economist on India’s second COVID-19 wave (21 mins)
Wall Street Journal: Why China is jumping into digital currency (16 mins)
Emily de la Bruyère: Why is China hiding its vaccine trial data? (24 mins)
Analyse Asia on the merger between Indonesia’s Gojek and Tokopedia (39 mins)
The Rachman Review: Are the US and China entering a cold war? (27 mins)
YouTuber Caspian Report on the prospects of a Taiwan invasion by 2027 (15mins)
Chart of the week – MSCI Asia Ex-Japan EV/Sales
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.
Thanks for reading!
I love any feedback: just let me know what you think here.
If you’re finding this Substack post valuable, consider sharing it with your friends.