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Asian Century Stocks offers investment insights focusing on Asian markets, exploring stock performance, industry trends, and economic forecasts. It features deep-dive reports, portfolio reviews, and interviews to guide professional investors, emphasizing sectors like technology, entertainment, consumer products, and housing. The content blends market analysis with regional economic dynamics, highlighting opportunities and risks.

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The hottest Substack posts of Asian Century Stocks

And their main takeaways

Naming and shaming in Japan

884 implied HN points • 17 Jan 24
💼 Business Corporate Governance Market Analysis Investor Relations Financial Performance
  1. Japan's corporate governance reforms, starting with Abenomics, have been driving positive change in the capital allocation practices of Japanese companies.
  2. The Tokyo Stock Exchange's new listing structure, especially the Prime Market, has raised standards for companies, promoting better corporate governance.
  3. The practice of naming and shaming low price/book ratio companies in Japan is pushing them to improve profitability, enhance investor communication, and comply with new capital allocation rules.

The cocoa question

805 implied HN points • 10 Jan 24
💰 Finance Commodities Markets Stocks Economics Supply Chain
  1. Cocoa prices have spiked due to poor crops in West Africa, leading to challenges for chocolate producers.
  2. The tightness in the cocoa market is expected to persist, but historically, markets tend to return to balance within three years.
  3. High cocoa prices impact processors and chocolate manufacturers, who eventually pass on costs to consumers over approximately two years.

Fraud in Asia

668 implied HN points • 24 Jan 24
💰 Finance Fraud Accounting Investments Financial Analysis
  1. Tan & Robinson's book on Asian financial statement analysis is a key resource for spotting fraud and misrepresentation in Asia.
  2. Watch out for companies with high margins, poor cash flows, fast-growing balance sheets, and complex corporate structures with frequent related party transactions.
  3. High-profile short-seller reports should be taken seriously when assessing potential fraud in companies.

Hong Kong's death has been exaggerated

471 implied HN points • 11 Feb 24
💰 Finance Investing Economy Markets Taxation Companies
  1. Investor sentiment in Hong Kong is currently negative, but the perception of the city changing or dying may be misplaced due to its advantages like low taxes, currency stability, and efficient infrastructure.
  2. Despite economic struggles in China, Hong Kong's economy is recovering with tourist returns, retail sales growth, and positive net migration, with potential for lower interest rates in the future.
  3. Hong Kong remains vital in Asia, benefiting from low taxes, reliable legal system, and financial hub status, even amidst challenges like interest rate impact and risks from geopolitics and National Security Law.

Introduction to the global wristwatch market

707 implied HN points • 21 Sep 23
💼 Business Smartwatches
  1. The history of wristwatches dates back centuries, with constant challenges and technological advancements.
  2. The introduction of the Apple Watch shifted the focus of luxury brands to higher-end markets.
  3. Watch collecting is a growing trend, with companies like Casio and Swatch Group innovating to cater to collectors.
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Travel notes: Chiang Mai

412 implied HN points • 01 Oct 23
🏝 Travel Destination Culture Economy Entertainment Tourism
  1. Chiang Mai is culturally distinct from Southern Thailand and a major tourist destination.
  2. Thailand's tourism industry has been impacted by the absence of Chinese tourists post-COVID.
  3. Major Cineplex in Chiang Mai offers a luxurious cinema experience but has seen a decrease in visitors.

10 Questions with InflationX

393 implied HN points • 26 Sep 23
💰 Finance Investing Economy Bonds Rates Currency
  1. The interview discusses the background and focus of InflationX, a fixed-income investor turning to equities.
  2. Inflation is expected to rise over the next 5-10 years due to various factors.
  3. The rapid rise in interest rates may lead to a crisis, especially with the high levels of debt.

Hidden Champions among India's ADRs/GDRs

353 implied HN points • 10 Sep 23
💰 Finance Stock Market Investing Companies Economy Market Analysis
  1. There are high-quality Indian companies listed overseas that international investors can consider.
  2. Among the 16 Indian companies listed overseas, five were highlighted as having competitive products and potential for growth.
  3. The Indian market has more than 5,000 listed stocks, with Indian ADRs and GDRs having a combined market cap of around US$660 billion.

CK Hutchison update (1 HK)

353 implied HN points • 07 Sep 23
💰 Finance Investing Stocks Earnings Inflation
  1. CK Hutchison is facing inflation pressures due to weak Euro, high inflation, and high-interest rates.
  2. The company is transitioning towards becoming more asset-light through selling assets and share buybacks to increase return on equity.
  3. Potential factors affecting CK Hutchison's future performance include interest payment repricing, margin rebounds, and growth in the retail segment.

Pricing power, revisited

314 implied HN points • 26 Oct 23
💼 Business Pricing Consumer behavior Psychology Marketing Economics
  1. Companies can raise prices by making customers feel positive about a purchase.
  2. Economic moats give companies the power to raise prices without losing business to competitors.
  3. Lowering the risk or perceived pain of purchase, creating positive emotions, and promoting a sense of community are key pricing strategies for successful companies.

What I read in September 2023

314 implied HN points • 04 Oct 23
💰 Finance Stock Analysis Market Trends Investment Strategies
  1. The author read 14 write-ups in September from sources like Value Investors Club and Substack.
  2. They believe JD.com and China Tower may be undervalued, while Ossia International and Ming Fai may have potential upside.
  3. There are concerns about Midea's exposure to the Chinese property market, but the company's strong market position and growth indicate potential resilience.

Your feedback

314 implied HN points • 03 Sep 23
💼 Business Investing Stocks Reports Book Reviews Feedback
  1. Subscribers prefer deep-dive reports and portfolio discussions over other content types.
  2. Among deep dives, stocks from Hong Kong, the US, Australia, and Japan are preferred over Southeast Asian stocks.
  3. Thematic reports on 'Hidden Champions' and other industry-related topics are well-received by readers.

Australia's coming housing bust

275 implied HN points • 11 Oct 23
💰 Finance Housing Market Interest Rates Economic Impact Market Trends
  1. Australia's housing market has experienced a long boom driven by various factors like low interest rates, commodity exports, and immigration.
  2. The affordability of Australian properties is a concern with high housing market values, low rental yields, and high household debt compared to income.
  3. Rising interest rates, declining job market, and decreasing migration from mainland China could lead to a potential housing market slump in Australia.

Hartalega update (HART MK)

176 implied HN points • 22 Oct 23
💰 Finance Investing Stocks Market Analysis Industry Analysis
  1. Hartalega is a major producer of disposable gloves, with a focus on synthetic nitrile gloves.
  2. The glove industry experienced a boom-bust cycle due to the pandemic, leading to oversupply and low prices.
  3. There are signs that glove prices may be reaching a bottom, signaling a potential return to supply-demand balance in 2-3 years.

What I read in December 2023

39 implied HN points • 07 Jan 24
💰 Finance Investing Stocks Market Analysis Financial advice
  1. The post discusses strong competitive advantages of companies like Nintendo, Samsung C&T, Topcon, Japan Lifeline, Tai Cheung, and Medley.
  2. The information in the publication is not personalized financial advice and opinions can change.
  3. Readers are advised to consult financial advisors and do their own research before making investment decisions.

What I read in October 2023

39 implied HN points • 29 Oct 23
💰 Finance Investing Stocks Subscriptions
  1. The author read 10 write-ups in October from various sources like Value Investors Club and Substack newsletters.
  2. Australia's Alumina Limited is trading close to an all-time low.
  3. Consider subscribing to Asian Century Stocks for full access to the post archives.