> ## Content Index > Fetch the complete content index at: https://www.asiancenturystocks.com/llms.txt > Use this file to discover other available public pages before exploring further. # This Week in Asia #41 - URL: https://www.asiancenturystocks.com/this-week-in-asia-41/ - Published: 2026-08-31T04:09:05.000Z - Updated: 2026-08-31T04:09:05.000Z - Author: Michael Fritzell - Tags: Weekly [**Hanssem**](https://www.asiancenturystocks.com/deep-dive-2021-25-hanssem/)'s CEO has been buying stock. [**Verdad**](https://mailchi.mp/verdadcap/the-yen-panic?e=3981bfbcf5&ref=asiancenturystocks.com) argues that the Japanese yen is the cheapest G-10 currency. And my [**portfolio update**](https://www.asiancenturystocks.com/portfolio-update-august-2026/) for August 2026 is finally out. --- ## Watchlist update ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/2026/08/image-143.png) [Watchlist](https://www.asiancenturystocks.com/watchlist/) best and worst performers. Source: Koyfin - Elevator service company [**Hong-Wei Electrical**](https://sg.finance.yahoo.com/quote/4565.TWO/?ref=asiancenturystocks.com) announced it's moving from an over-the-counter listing to a main board listing on the Taiwan Stock Exchange. This will make it easier to access capital. - [**APR**](https://finance.yahoo.com/quote/278470.KS/?ref=asiancenturystocks.com)'s second-quarter results confirmed that its Medicube cosmetics brand continues to grow. Revenues grew +134% year-on-year and operating profit grew +135%. The full-year revenue guidance was raised to KRW 3 trillion with a 24-26% operating margin. - Chinese oil exploration & production company [**CNOOC**](https://www.asiancenturystocks.com/cnooc2022update/) reported its 1H2026 results, with net profit rising +23% year-on-year on the back of higher oil prices. Production growth of +4% also helped, bringing output to 399 million barrels of oil equivalent. The interim dividend was hiked to HK$0.94\. - [**Modern Dental**](https://www.asiancenturystocks.com/q-and-a-modern-dental-3600-hk/)'s 1H2026 was excellent, too. Revenue grew +11% year-on-year, driven by higher order volumes in Europe thanks to digitalization. Gross margin improved, driving net profit up +31%. - South Korean furniture retailer [**Hanssem**](https://www.asiancenturystocks.com/deep-dive-2021-25-hanssem/) has had significant insider buying in the past few weeks. CEO Kim Yu-jin has acquired roughly US$1.7 million worth of shares after the stock hit a multi-year low. Hanssem has confirmed it will cancel its entire treasury block of \~30% of shares outstanding, putting private equity owner IMM at above 50% ownership, and making a control sale far easier. Of course, that's just my own speculation – nothing is guaranteed, and IMM has given no indication they want to sell. Meanwhile, the Korean housing market is still weak. I hold no position. ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/2026/08/image-145.png) Insider buying in Hanssem. Source: Smart Insider --- ## Worth your time ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/2026/08/image-144.png) Andrew McDermott - Long-time Japan bull [**Andrew McDermott**](https://open.spotify.com/episode/5G2LhDn7TZRXk3Iicjv1xI?si=75d354c4c7684d73&ref=asiancenturystocks.com) of Mission Value Partners joined Grant Williams's podcast. He argues that Japan's manufacturing sector is top-notch across defense, semiconductors, robotics, machine tools, etc. He further argues that the Japanese yen is not a driver of corporate profitability, a statement I do not agree with. - [**Verdad**](https://mailchi.mp/verdadcap/the-yen-panic?e=3981bfbcf5&ref=asiancenturystocks.com) wrote a post about the Japanese yen. The yen has reached a multi-decade low, and speculative short positions are now the highest since 2007\. Verdad argues that the yen is now the cheapest G-10 currency on a real effective exchange rate basis. Furthermore, the US and Japan have undertaken a coordinated currency intervention to strengthen the yen. While Japan's gross debt is high, Verdad argues that the government sits on assets equivalent to 171% of GDP. - Substack author IJW at [**Turtles Research**](https://www.turtlesresearch.com/p/some-thoughts-about-incentives-of?ref=asiancenturystocks.com) wrote a very thoughtful post on Korea's corporate governance reforms. He makes the point that listed companies usually face lower inheritance taxes since they're valued at (low) market prices instead of a government-set valuation methodology. And paying out dividends not only triggers dividend taxes but also raises the inheritance tax base on the accumulated cash. - Jakub at [**Numbers Not Narratives**](https://www.numbersnotnarrative.com/p/protia-kosdaq-303360-allergy-diagnostics??ref=asiancenturystocks.com) wrote about a super-interesting South Korean in-vitro diagnostics company, [Protia](https://finance.yahoo.com/quote/303360.KQ/?ref=asiancenturystocks.com). He argues that Protia makes the best allergy tests in the world for the price. It's a typical razor-and-blades business model: the strips only work with Protia's reader. With most costs fixed, Jakub argues that operating leverage should kick in as the company continues to grow. Two question marks: high inventory days and questionable capital allocation. --- ## Portfolio update August 2026 ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/2026/08/Terminal-right-aspect-ratio-1.jpeg) Yesterday, I published another monthly portfolio review. The portfolio has done well over the past year, which mechanically lowers the forward-looking IRRs I estimate on the same holdings. Japanese stocks have become a bit expensive, so I am now finding more opportunities in South Korea, the Philippines and Indonesia. You can read the full update here: [Portfolio update August 2026A rally in Japanese SaaS stocks![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/icon/Bai-2-7b907d78-63c7-4e38-9079-d2a468f789f7.png)Asian Century StocksMichael Fritzell![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/thumbnail/Terminal-right-aspect-ratio-df903ee0-b8b1-445c-a299-9e973e2af55b.jpeg)](https://www.asiancenturystocks.com/portfolio-update-august-2026/) ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/public/images/6f96653e-67cf-48ea-8fa2-6721ec448e28_1100x51.png) *This was a *free-to-read edition* of* [*Asian Century Stocks*](https://www.asiancenturystocks.com/) *– a newsletter about Asian value stocks. New to the publication? Sign up* [*here*](https://www.asiancenturystocks.com/#/portal/signup/free)*. If you don't want to receive these free weekly updates, you can adjust your e-mail preferences* [*here*](https://www.asiancenturystocks.com/#/portal/account/newsletters)*.* Get instant access to 148 deep-dives on Asian value stocks: [Unlock the archive ](https://www.asiancenturystocks.com/#/portal/signup) --- ***Disclaimer** *: This post reflects my personal opinions and is for informational purposes only. It is not financial advice and not a recommendation to buy or sell any security, and it does not take into account your objectives, financial situation, or needs. I am not a licensed financial adviser in Singapore or anywhere else, and I don't give personalized advice — including in the comments. As of 31 August 2026, I own shares in freee. I hold no position in any other security mentioned or linked in this post, including in any automatically generated recommendation, "Keep Reading" card, or other content appended to it, whether or not that security is named above. I will not trade in any security discussed in this post for seven days after publication. Outside that window, I may buy or sell any security mentioned at any time, without notice, and I won't update this disclosure. I receive no compensation from any company, fund, platform, publication or individual mentioned or linked in this post. My revenue comes solely from reader subscriptions. People I quote or interview may hold positions in the securities they discuss, may operate paid research products of their own, and I don't independently verify their claims. Where past performance is mentioned, it is not indicative of future results. Do your own research and consult a licensed financial adviser before making any investment decision. Michael Fritzell, published by Delante Media Pte Ltd.*