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

MSCI Emerging Markets Index / Technical Analysis

Today's report provides a synopsis of the technical state of emerging markets, along with actionable countries and a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.  Among the topics we highlight include:<ul><li>Brazil is reassuming a leadership role. BRIC markets continue to outperform the broad EM Index, and we recommend overweighting this segment. Within the group, Brazil is particularly attractive. The Bovespa Index, which broke out in Sept. above secular resistance, exhibits a timely pullback opportunity. Add exposure/overweight.</li><li>Actionable countries. In addition to Brazil, attractive set-ups include: Korea (the KOSPI is pulling back to support), Russia (the RTSI is consolidating above the 200-day MA, and South Africa (JSE has pulled back to base support).</li><li>Sector strength. Tech’s long-term leadership status remains intact. Stay overweight until its relative strength trend breaks down. Other sectors exhibiting improving relative strength: Energy, Materials, and Health Care.</li></ul>

Today's report provides a synopsis of the technical state of emerging markets, along with actionable countries and a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.  Among the topics we highlight include:Brazil is reassuming a leadership role. BRIC markets continue to outperform the broad EM Index, and we recommend overweighting this segment. Within the group, Brazil is particularly attractive. The Bovespa Index, which broke out in Sept. above secular resistance, exhibits a timely pullback opportunity. Add exposure/overweight.Actionable countries. In addition to Brazil, attractive set-ups include: Korea (the KOSPI is pulling back to support), Russia (the RTSI is consolidating above the 200-day MA, and South Africa (JSE has pulled back to base support).Sector strength. Tech’s long-term leadership status remains intact. Stay overweight until its relative strength trend breaks down. Other sectors exhibiting improving relative strength: Energy, Materials, and Health Care.

Emerging Markets: Outlook and Recommendations

Asia and the BRIC segment continue to outperform the broad EM universe. Based on technical breakouts in each of their relative strength trends (vs. MSCI EM), we see these trends continuing well into 2018.  Elsewhere, Russia is on the cusp of a breakout. The Philippines is breaking out. And Korea, a market that broke out earlier this year from a 6-year base, is a buy on weakness.  Today’s report includes a complete summary of our EM views as well as a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

Asia and the BRIC segment continue to outperform the broad EM universe. Based on technical breakouts in each of their relative strength trends (vs. MSCI EM), we see these trends continuing well into 2018.  Elsewhere, Russia is on the cusp of a breakout. The Philippines is breaking out. And Korea, a market that broke out earlier this year from a 6-year base, is a buy on weakness.  Today’s report includes a complete summary of our EM views as well as a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

EM Outlook: Bullish, Led by BRIC and Asia

Macro & Asian equity Technical Strategies, BBSP Asia

Federico D'Inca

Macro & Asian equity Technical Strategies

BBSP Asia

China Construction Bank H / Technical Analysis

Mid-Term Country Allocation (Tactical view) in terms of RV vs MXAPThis week: • Signals for a new tactical opportunity: Upgrade on Kospi to “Increase Exposure” from “Hold”, within a long term Kospi outperformance. • No change for the other countries: Still Overweight Nikkei, Nifty, HSI and HSCEI. • ASX under the radar for a potential outperformance (watching reintegration of channel on the ASX/MXAP at 38.60/38.85 ) but maintain hold for now until the signal is triggered. Also, keep “hold” for TWSE.

Mid-Term Country Allocation (Tactical view) in terms of RV vs MXAPThis week: • Signals for a new tactical opportunity: Upgrade on Kospi to “Increase Exposure” from “Hold”, within a long term Kospi outperformance. • No change for the other countries: Still Overweight Nikkei, Nifty, HSI and HSCEI. • ASX under the radar for a potential outperformance (watching reintegration of channel on the ASX/MXAP at 38.60/38.85 ) but maintain hold for now until the signal is triggered. Also, keep “hold” for TWSE.

BBSP Equity Asia Weekly Research 31 May 2017

Global Asset Allocation, Politics & Governance, Ecstrat

John-Paul Smith

Global Asset Allocation, Politics & Governance

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
​
More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Cross Asset Strategy

In this insight, we highlight some recent developments on the policy front in China before commenting on the tactical indicators. The main current issues for investors to consider are:<ol>
<li>is the very visible pick-up in the economy and corporate sector likely to prove self-sustaining;</li>
<li>are the authorities serious about policy tightening and/or economic reform;</li>
<li>what action will the US administration take over both the bilateral trade imbalance and also over North Korea, which has emerged as the second…</li>
</ol>

In this insight, we highlight some recent developments on the policy front in China before commenting on the tactical indicators. The main current issues for investors to consider are:
is the very visible pick-up in the economy and corporate sector likely to prove self-sustaining;
are the authorities serious about policy tightening and/or economic reform;
what action will the US administration take over both the bilateral trade imbalance and also over North Korea, which has emerged as the second…


China: Can Beijing Maintain the Policy Balancing Act Through 2017? (Part 2 of 8)

Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Equity Bottom-Up

As you know we track the Analyst Upgrades / Downgrades over the previous 2 week to identify potential trends in popularity. Which Sectors / Countries do the Analysts like and which ones do they not.<h2>% of Upgrades relative to Total (Country Level)  </h2><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/023/339/original/4.png?1490822348" class="editor-image img-responsive" data-smartkarma-image-id="23339"></figure><div class="content-caption">Source: Custom Products</div>Interestingly over the last 2 week, Hong Kong has had the most Upgrades relative to total recommendations while China has had the least. <a href="https://www.smartkarma.com/entities/175" target="_blank" data-smartkarma-citation="entities:175:1">CNOOC Ltd (883 HK)</a> had 5 upgrades and <a href="https://www.smartkarma.com/entities/368" target="_blank" data-smartkarma-citation="entities:368:1">China Oilfield Services H (2883 HK)</a> also had 5…

As you know we track the Analyst Upgrades / Downgrades over the previous 2 week to identify potential trends in popularity. Which Sectors / Countries do the Analysts like and which ones do they not.% of Upgrades relative to Total (Country Level)  Source: Custom ProductsInterestingly over the last 2 week, Hong Kong has had the most Upgrades relative to total recommendations while China has had the least. CNOOC Ltd (883 HK) had 5 upgrades and China Oilfield Services H (2883 HK) also had 5…

Most Popular / Unpopular Sectors and Countries in Asia - Ex Japan

China

China Shenhua Energy Company Limited is an integrated coal-based energy company focusing on the coal and power businesses in China. The Company also owns and operates an integrated coal transportation network consisting of dedicated rail lines and port facilities.

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China Shenhua Energy Co Ltd (601088 CH)

Emerging Markets: Outlook and Recommendations

Today's report provides a synopsis of the technical state of emerging markets, along with actionable countries and a wide variety of bottom-up...

Vermilion Research

EM Outlook: Bullish, Led by BRIC and Asia

Asia and the BRIC segment continue to outperform the broad EM universe. Based on technical breakouts in each of their relative strength trends (vs....

Vermilion Research

BBSP Equity Asia Weekly Research 31 May 2017

Mid-Term Country Allocation (Tactical view) in terms of RV vs MXAPThis week:• Signals for a new tactical opportunity: Upgrade on Kospi to “Increase...

BBSP Asia

China: Can Beijing Maintain the Policy Balancing Act Through 2017? (Part 2 of 8)

In this insight, we highlight some recent developments on the policy front in China before commenting on the tactical indicators. The main current...

John-Paul Smith

Most Popular / Unpopular Sectors and Countries in Asia - Ex Japan

As you know we track the Analyst Upgrades / Downgrades over the previous 2 week to identify potential trends in popularity. Which Sectors /...

Custom Products Group

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)