Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

<ul>
<li>Spot container rates have surged, owing to conflict near Red Sea / Suez Canal</li>
<li>On top of higher spot rates, imposition of new fees also boosting carrier revenue</li>
<li>Evergreen's average monthly US$ revenue <em>increased</em> from Q123 to Q423</li>
</ul>


Spot container rates have surged, owing to conflict near Red Sea / Suez Canal
On top of higher spot rates, imposition of new fees also boosting carrier revenue
Evergreen's average monthly US$ revenue increased from Q123 to Q423


Spot Container Rates Surge | New Fees Also Boosting Carrier Revenue | Increases Could Lift '24 Rates

<ul>
<li>Our measure of container shipping price momentum remained weak in October</li>
<li>Poor Q3 results and downbeat Q4/FY guidance from Maersk, Zim; and Suez re-opening?</li>
<li>Conditions are poor and will likely remain that way for a while; AVOID the sector</li>
</ul>


Our measure of container shipping price momentum remained weak in October
Poor Q3 results and downbeat Q4/FY guidance from Maersk, Zim; and Suez re-opening?
Conditions are poor and will likely remain that way for a while; AVOID the sector


Monthly Container Shipping Tracker: Poor Q3 Results, Weak Guidance, A Re-Opening of Suez? | AVOID

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 analyzed the changes in foreign holdings of TWSE Stocks as of Sep 18th. The aggregated holding was USD2,281.9bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,372mln. We tabulate the league tables 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 Wistron, TSMC, MediaTek, Nanya Technology, Nan Ya Plastics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Sep 18th. The aggregated holding was USD2,281.9bn.
We estimate that foreign flows to be inflows of USD2,372mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Wistron, TSMC, MediaTek, Nanya Technology, Nan Ya Plastics.


TWSE Foreign Holding Weekly (Sep 18th): Wistron, TSMC, MediaTek, Nanya Technology, Nan Ya Plastics

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Sep 11th. The aggregated holding was USD2,267.8bn.</li>
<li>We estimate that foreign flows to be inflows of USD938mln. We tabulate the league tables 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 TSMC, Delta Electronics, ASE Industrial, MediaTek, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Sep 11th. The aggregated holding was USD2,267.8bn.
We estimate that foreign flows to be inflows of USD938mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Delta Electronics, ASE Industrial, MediaTek, Wistron.


TWSE Foreign Holding Weekly (Sep 11th): TSMC, Delta Electronics, ASE Industrial, MediaTek, Wistron

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

<ul>
<li>Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.</li>
<li>We've discussed since mid-October how we would use any pre-election pullback in the MSCI ACWI or the SPX (U.S. remains our only country overweight) as an opportunity to add exposure</li>
<li>And we continue to see a high probability of significant upside going into year-end and the early part of 2025.</li>
</ul>


Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.
We've discussed since mid-October how we would use any pre-election pullback in the MSCI ACWI or the SPX (U.S. remains our only country overweight) as an opportunity to add exposure
And we continue to see a high probability of significant upside going into year-end and the early part of 2025.


Buy the Pullback in MSCI ACWI and S&P 500; Buys in Uranium, Transports, Services, Technology, More

Taiwan

Evergreen Marine Corp. (Taiwan) Ltd. transports freight by ships. The Company operates container ships to move freight throughout the world. Evergreen Marine has interests in terminals, airline operations and motor freight transportation, as well as container manufacturing.

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Evergreen Marine Corp (2603 TT)

Spot Container Rates Surge | New Fees Also Boosting Carrier Revenue | Increases Could Lift '24 Rates

Spot container rates have surged, and carriers are also benefitting from newly-imposed ancillary charges. It's possible the ongoing conflict in the...

Tracking Traffic

Monthly Container Shipping Tracker: Poor Q3 Results, Weak Guidance, A Re-Opening of Suez? | AVOID

Weak pricing, declining earnings and cash flow, and the potential re-opening of the Suez Canal to ship traffic are all reasons to AVOID container...

Tracking Traffic

TWSE Foreign Holding Weekly (Sep 18th): Wistron, TSMC, MediaTek, Nanya Technology, Nan Ya Plastics

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Wistron, TSMC, MediaTek, Nanya Technology, Nan...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Sep 11th): TSMC, Delta Electronics, ASE Industrial, MediaTek, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Delta Electronics, ASE Industrial,...

Ke Yan, CFA, FRM

Buy the Pullback in MSCI ACWI and S&P 500; Buys in Uranium, Transports, Services, Technology, More

Buy the Pullback in MSCI $ACWI and $SPX; Still bullish on global equities with $ACWI and the SPX holding above their respective bases at $117 and...

Vermilion Research

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