Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Korea Stock Exchange Kospi Index / Technical Analysis

Korea Stock Exchange Kospi Index (KOSPI INDEX)

The two-month pullback in Korea KOSPI has created buying opportunities. In fact, this recent weakness is largely confined to auto and financial stocks, masking strength in other segments, such as tech and materials, where bullish inflections are visible.  In this report we highlight a variety of actionable investment themes.

The two-month pullback in Korea KOSPI has created buying opportunities. In fact, this recent weakness is largely confined to auto and financial stocks, masking strength in other segments, such as tech and materials, where bullish inflections are visible.  In this report we highlight a variety of actionable investment themes.

MSCI Emerging Markets Index / Technical Analysis

In the attached strategy document we expand upon themes and opportunities in materials, technology and financials as well as an overview of opportunities in EM, Europe, and Japan.Emerging Markets: Breaking out to all-time highs, EM is unfolding as global leadership. Take advantage of pullbacks.Europe: Two words: pullback opportunity. For the past three months, Europe peeled back from the global advance, as prices diverged from bullish headlines. We view this as a welcomed event. Long-term technicals do confirm the improving headlines, but timing matters. And the STOXX 600’s test of the 200-day MA represents a timely entry point.  Just note, Europe is not a relative leader. That status belongs to EM (above).Japan: Japan represents an overlooked opportunity. With EM leading, and Europe crowding headlines, Japan is steadily emerging from a two-year base pattern, setting the stage for another leg higher

In the attached strategy document we expand upon themes and opportunities in materials, technology and financials as well as an overview of opportunities in EM, Europe, and Japan.Emerging Markets: Breaking out to all-time highs, EM is unfolding as global leadership. Take advantage of pullbacks.Europe: Two words: pullback opportunity. For the past three months, Europe peeled back from the global advance, as prices diverged from bullish headlines. We view this as a welcomed event. Long-term technicals do confirm the improving headlines, but timing matters. And the STOXX 600’s test of the 200-day MA represents a timely entry point.  Just note, Europe is not a relative leader. That status belongs to EM (above).Japan: Japan represents an overlooked opportunity. With EM leading, and Europe crowding headlines, Japan is steadily emerging from a two-year base pattern, setting the stage for another leg higher

Global Equity Strategy: Overweight EM, Pullback Opportunities in Europe, Japan Poised to Breakout

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<h2>Overview</h2><ul><li>South Korea’s monetary intermediation industry grew by 7% in 2016, well above the average growth rate of 2% over 2011-2016. Growth was stimulated by the strong performance in investment banking and the growing adoption of online and mobile banking solutions throughout the industry.</li></ul>

OverviewSouth Korea’s monetary intermediation industry grew by 7% in 2016, well above the average growth rate of 2% over 2011-2016. Growth was stimulated by the strong performance in investment banking and the growing adoption of online and mobile banking solutions throughout the industry.

Industrial Capsule: Monetary Intermediation in South Korea

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

This is an update on Korea's household debt.<a href="https://www.smartkarma.com/profiles/1188" target="_blank" data-smartkarma-citation="accounts:1188">Conrad DeQuadros</a> recently issued a report called <a href="https://www.smartkarma.com/insights/an-update-on-u-s-household-debt" target="_blank" data-smartkarma-citation="insights:10955">An Update on U.S. Household Debt</a> and we wanted to make some comparisons of Korea's household debt trends with those in the US. While the US household debt/disposable income ratio has been improving from 2008 to 2017, this ratio has been getting worse in Korea. The US household debt to personal disposable income declined to 88.4% at end of 1Q17, down from 116% at end of 4Q07. This suggests that despite…

This is an update on Korea's household debt.Conrad DeQuadros recently issued a report called An Update on U.S. Household Debt and we wanted to make some comparisons of Korea's household debt trends with those in the US. While the US household debt/disposable income ratio has been improving from 2008 to 2017, this ratio has been getting worse in Korea. The US household debt to personal disposable income declined to 88.4% at end of 1Q17, down from 116% at end of 4Q07. This suggests that despite…

An Update on Korea's Household Debt & Four Headwinds on the Korean Banking Sector

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Apr 24th. The aggregated holding was USD1,312.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD475mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, Hyundai Motor, Samsung Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Apr 24th. The aggregated holding was USD1,312.8bn.
We estimate that foreign flows to be outflows of USD475mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, Hyundai Motor, Samsung Electronics.


KRX Foreign Holding Weekly (Apr 24th): SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES

South Korea

Shinhan Financial Group Co., Ltd., a holding company, provides a full range of consumer and commercial banking-related financial services.  The company's main businesses include banking, securities brokerage, trust banking, and assets management to individuals, businesses, and other financial institutions.

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Shinhan Financial (055550 KS)

Pullback Opportunity in South Korea

The two-month pullback in Korea KOSPI has created buying opportunities. In fact, this recent weakness is largely confined to auto and financial...

Vermilion Research

Global Equity Strategy: Overweight EM, Pullback Opportunities in Europe, Japan Poised to Breakout

In the attached strategy document we expand upon themes and opportunities in materials, technology and financials as well as an overview of...

Vermilion Research

Industrial Capsule: Monetary Intermediation in South Korea

OverviewSouth Korea’s monetary intermediation industry grew by 7% in 2016, well above the average growth rate of 2% over 2011-2016. Growth was...

Euromonitor International Ltd.

An Update on Korea's Household Debt & Four Headwinds on the Korean Banking Sector

This is an update on Korea's household debt.Conrad DeQuadros recently issued a report called An Update on U.S. Household Debt and we wanted to make...

Douglas Kim

KRX Foreign Holding Weekly (Apr 24th): SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY...

Ke Yan, CFA, FRM

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