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

Mitsubishi UFJ Financial (MUFG) / Technical Analysis

<ul>
<li>Our bullish outlook on global equities (MSCI ACWI) remains intact. Actionable Themes today include Financials, Energy, and Consumer Discretionary (European Luxury Retailers)</li>
<li>We view this pullback as a buying opportunity and we are watching for $116-$117 support to hold on ACWI-US; this is an important resistance-turned-support level dating back to July 2024.</li>
<li>Europe and Japan are on the cusp of major breakouts above critical resistance levels of 5000-5120 on the EURO STOXX 50 and 2740-2820 on the TOPIX</li>
</ul>


Our bullish outlook on global equities (MSCI ACWI) remains intact. Actionable Themes today include Financials, Energy, and Consumer Discretionary (European Luxury Retailers)
We view this pullback as a buying opportunity and we are watching for $116-$117 support to hold on ACWI-US; this is an important resistance-turned-support level dating back to July 2024.
Europe and Japan are on the cusp of major breakouts above critical resistance levels of 5000-5120 on the EURO STOXX 50 and 2740-2820 on the TOPIX


Opportunity Within Europe and Japan; EURO STOXX 50 and TOPIX/Nikkei 225 Near Major Breakouts

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Equity Bottom-Up

<ul><li>Centurion is considering an REIT IPO amidst a rebound in Singapore property trusts, indicating positive market sentiment.</li><li>Microsoft plans to make a significant investment of $3 billion in India's digital infrastructure, the largest commitment in Asia.</li><li>Hong Kong is testing the market by announcing a land tender following the successful sale of an MTR plot, signaling confidence in the property sector.</li></ul>

Centurion is considering an REIT IPO amidst a rebound in Singapore property trusts, indicating positive market sentiment.Microsoft plans to make a significant investment of $3 billion in India's digital infrastructure, the largest commitment in Asia.Hong Kong is testing the market by announcing a land tender following the successful sale of an MTR plot, signaling confidence in the property sector.

Asia Real Estate Tracker (09-Jan-2025): Centurion explores REIT IPO as Singapore trusts rebound.

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>DBS upgrades PropNex &amp; APAC Realty to 'buy' citing strong pipeline of new launches in 2025.</li><li>DBS maintains neutral stance on SG stocks, predicts STI at 3,950 by 2025.</li><li>DBS maintains 'buy' rating on GVT, raises target price to $1.04 due to improved front-end opportunities. Maybank considers more share buybacks from Singtel, downplays benefits of consolidation.</li></ul>

DBS upgrades PropNex &amp; APAC Realty to 'buy' citing strong pipeline of new launches in 2025.DBS maintains neutral stance on SG stocks, predicts STI at 3,950 by 2025.DBS maintains 'buy' rating on GVT, raises target price to $1.04 due to improved front-end opportunities. Maybank considers more share buybacks from Singtel, downplays benefits of consolidation.

Singapore Market Roundup (07-Jan-2025): DBS upgrades PropNex & APAC to 'buy' on strong new launches in 2025.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>2024 marked our ninth year covering Equity Capital Markets in Asia-Pacific. In 2024, IPO volumes were mainly driven by India, even as Hong Kong showed signs of turning a corner.</li>
<li>We ended 2024 with an accuracy rate of 79.4% across 68 IPOs that we covered and 68.8% across 109 placements.</li>
<li>For those not familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific, including China ADRs.</li>
</ul>


2024 marked our ninth year covering Equity Capital Markets in Asia-Pacific. In 2024, IPO volumes were mainly driven by India, even as Hong Kong showed signs of turning a corner.
We ended 2024 with an accuracy rate of 79.4% across 68 IPOs that we covered and 68.8% across 109 placements.
For those not familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific, including China ADRs.


Aequitas 2024 IPOs and Placements Performance Review-India Driving Volumes as HK Shows Signs of Life

<ul><li>DBS predicts Singapore's STI to reach 3,950 points by 2025 and maintains a 'neutral' stance on SG stocks.</li><li>DBS maintains a 'buy' rating on GVT and raises its target price to $1.04, citing improved front-end opportunities.</li><li>Maybank considers increasing its holdings in Singtel, downplaying the benefits of consolidation in the telecommunications sector.</li></ul>

DBS predicts Singapore's STI to reach 3,950 points by 2025 and maintains a 'neutral' stance on SG stocks.DBS maintains a 'buy' rating on GVT and raises its target price to $1.04, citing improved front-end opportunities.Maybank considers increasing its holdings in Singtel, downplaying the benefits of consolidation in the telecommunications sector.

Singapore Market Roundup (06-Jan-2025): DBS predicts 2025 STI at 3,950 points.

Singapore

DBS Group Holdings Limited and its subsidiaries provide a variety of financial services.  The Company offers services including mortgage financing, lease and hire purchase financing, nominee and trustee, funds management, corporate advisory and brokerage .  DBS Group also acts as the primary dealer in Singapore government securities.

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DBS (DBS SP)

Opportunity Within Europe and Japan; EURO STOXX 50 and TOPIX/Nikkei 225 Near Major Breakouts

Opportunity Within Europe and Japan $HEDJ $DXJ; EURO $STOXX 50 and $TOPIX/Nikkei 225 Near Major Breakouts. $ACWI above $116. Buys in Financials,...

Vermilion Research

Asia Real Estate Tracker (09-Jan-2025): Centurion explores REIT IPO as Singapore trusts rebound.

Centurion is considering an REIT IPO amidst a rebound in Singapore property trusts, indicating positive market sentiment.

Asia Real Estate Tracker

Singapore Market Roundup (07-Jan-2025): DBS upgrades PropNex & APAC to 'buy' on strong new launches in 2025.

DBS upgrades PropNex & APAC Realty to 'buy', predicts STI at 3,950 by 2025; maintains 'buy' rating on GVT with $1.04 target price, while Maybank...

Singapore Market Roundup

Aequitas 2024 IPOs and Placements Performance Review-India Driving Volumes as HK Shows Signs of Life

2024 marked our ninth year covering Equity Capital Markets in Asia-Pacific. We had an accuracy rate of 79.4% for IPOs and 68.8% for placements in...

Sumeet Singh

Singapore Market Roundup (06-Jan-2025): DBS predicts 2025 STI at 3,950 points.

DBS predicts STI at 3,950 in 2025, maintains 'neutral' on SG stocks, raises GVT target to $1.04; Maybank considers buying more Singtel shares.

Singapore Market Roundup

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