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

Shenton Research

Shenton 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 analysed the earning revision of component stocks of ASX 200 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Evolution Mining, Woodside Energy, BHP, Santos, GQG Partners Inc DRC, Austal, Telix Pharmaceuticals.</li>
</ul>


We analysed the earning revision of component stocks of ASX 200 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Evolution Mining, Woodside Energy, BHP, Santos, GQG Partners Inc DRC, Austal, Telix Pharmaceuticals.


ASX 200 Index Earning Revision (Sep): Evolution Mining, Woodside Energy, BHP, Santos, Austal

<ul>
<li>We analysed the earning revision of component stocks of MS-Australia in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Woodside Energy, Santos, Rio Tinto, Qbe Insurance, Aristocrat Leisure.</li>
</ul>


We analysed the earning revision of component stocks of MS-Australia in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Woodside Energy, Santos, Rio Tinto, Qbe Insurance, Aristocrat Leisure.


MS-Australia Index Earning Revision (Sep): Woodside Energy, Santos, Rio Tinto, Qbe Insurance

Iron Ore, Copper, Equities, Mint Finance

Umang Agrawal

Iron Ore, Copper, Equities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>Simandou supply adds choice, accident headlines pressure sentiment, while restocking demand offsets rising inventories, keeping iron ore prices supported. </li>
<li>In H1 FY26, BHP’s iron ore output rose 2% YoY, but pricing headwinds from China negotiations highlight rising realisation risk despite unchanged FY26 output guidance.</li>
<li>After stalling near the upper Bollinger band, the DCE–SGX momentum has cooled but stays constructive, pointing to consolidation rather than reversal without fresh catalysts.</li>
</ul>


Simandou supply adds choice, accident headlines pressure sentiment, while restocking demand offsets rising inventories, keeping iron ore prices supported. 
In H1 FY26, BHP’s iron ore output rose 2% YoY, but pricing headwinds from China negotiations highlight rising realisation risk despite unchanged FY26 output guidance.
After stalling near the upper Bollinger band, the DCE–SGX momentum has cooled but stays constructive, pointing to consolidation rather than reversal without fresh catalysts.


Simandou Hits China, Momentum Softens: Is Iron Ore Entering a Buy-The-Dip Phase?

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Sep 25th (reported today). The aggregated short interest was USD49.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Steadfast, Wesfarmers, Macquarie, Ampol, BHP.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Sep 25th (reported today). The aggregated short interest was USD49.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Steadfast, Wesfarmers, Macquarie, Ampol, BHP.


ASX Short Interest Weekly (Sep 25th): Steadfast, Wesfarmers, Macquarie, Ampol, BHP

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>This insight recommends a basket of Asian-listed base metal producers.</li>
<li>Base metals, especially Copper, have a high probability of moving much higher as the AI race continues</li>
<li>We prefer to invest in the materials needed for the  building out of AI infrastructure  </li>
</ul>


This insight recommends a basket of Asian-listed base metal producers.
Base metals, especially Copper, have a high probability of moving much higher as the AI race continues
We prefer to invest in the materials needed for the  building out of AI infrastructure  


2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices # 2

Australia

BHP is an Australian multinational mining and metals company that extracts, processes, and markets iron ore, copper, and metallurgical coal, and is developing a potash business. It is one of the world's largest mining companies by market capitalization. The company was founded in August 1885 and is headquartered in Melbourne, Australia.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

BHP (BHP LN)

ASX 200 Index Earning Revision (Sep): Evolution Mining, Woodside Energy, BHP, Santos, Austal

We analyzed ASX 200's consensus for Sep 2026 and highlighted changes of EPS in Evolution Mining, Woodside Energy, BHP, Santos, GQG Partners Inc...

Ke Yan, CFA, FRM

MS-Australia Index Earning Revision (Sep): Woodside Energy, Santos, Rio Tinto, Qbe Insurance

We analyzed MS-Australia's consensus for Sep 2026 and highlighted changes of EPS in Woodside Energy, Santos, Rio Tinto, Qbe Insurance, Aristocrat...

Ke Yan, CFA, FRM

Simandou Hits China, Momentum Softens: Is Iron Ore Entering a Buy-The-Dip Phase?

New supply headlines cool momentum, but supportive demand and positioning suggest consolidation first, with dip-buying interest emerging near...

Mint Finance

ASX Short Interest Weekly (Sep 25th): Steadfast, Wesfarmers, Macquarie, Ampol, BHP

We analyzed ASX short interest report for the past week and highlight short interest changes in Steadfast, Wesfarmers, Macquarie, Ampol, BHP.

Ke Yan, CFA, FRM

2026 High Conviction Idea: Our Basket of Commodity Equities Will Outperform Broad Equity Indices # 2

Copper trading above $6/lb - a new ALL TIME HIGH. As we wrote here, $5 is the new floor. Spec positioning in futures close to levels signalling...

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)