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 bullish outlook on global equities (MSCI ACWI) remains intact with ACWI-US and the S&amp;P 500 firmly trending higher. Our recommendation since mid-October to use any pre-election pullback in..</li>
<li>... the ACWI or the SPX as an opportunity to add exposure continues to pay off, and there is not much left to do except ride the trend higher.</li>
<li>Additionally, we still see a high probability of significant upside going into year-end and the early part of 2025 -- and likely beyond</li>
</ul>


Our bullish outlook on global equities (MSCI ACWI) remains intact with ACWI-US and the S&amp;P 500 firmly trending higher. Our recommendation since mid-October to use any pre-election pullback in..
... the ACWI or the SPX as an opportunity to add exposure continues to pay off, and there is not much left to do except ride the trend higher.
Additionally, we still see a high probability of significant upside going into year-end and the early part of 2025 -- and likely beyond


Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Smugglers / In Depth: How China is cracking down on border trade smugglers</li><li>Pension /: China’s personal pension pilot is ready to go nationwide, sources say</li><li>EVs /: Baidu-Geely EV brand pledges to maintain deliveries as backers’ support wavers</li></ul>

Smugglers / In Depth: How China is cracking down on border trade smugglersPension /: China’s personal pension pilot is ready to go nationwide, sources sayEVs /: Baidu-Geely EV brand pledges to maintain deliveries as backers’ support wavers

CX Daily: How China is Cracking Down on Border Trade Smugglers 

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>Despite a pre-buying effect in 2024, we expect China’s passenger-vehicle (PV) sales volume to be still resilient in 2025.</li><li>We also project new-energy vehicle (NEV) market share to reach 57.8% in 2025E on a retail basis, which could make NEVs become mainstream in most price segments.</li><li>While some key themes including competition and the rising importance of new models are likely to continue in 2025, we also need to be prepared for new trends.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Despite a pre-buying effect in 2024, we expect China’s passenger-vehicle (PV) sales volume to be still resilient in 2025.We also project new-energy vehicle (NEV) market share to reach 57.8% in 2025E on a retail basis, which could make NEVs become mainstream in most price segments.While some key themes including competition and the rising importance of new models are likely to continue in 2025, we also need to be prepared for new trends.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Auto - 2025 Outlook: Likely a replica of 2024, but more

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 analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 11th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Bilibili (9626 HK), Tencent (700 HK), Bidu (9888 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Bilibili (9626 HK), Kuaishou (1024 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 11th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Bilibili (9626 HK), Tencent (700 HK), Bidu (9888 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Bilibili (9626 HK), Kuaishou (1024 HK).


Hong Kong Buybacks Weekly (Sep 11th): Bilibili, Tencent, Bidu

Equity Research Analyst - Long-Short

Raj S, CA, CFA

<ul>
<li>
<a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a> is at a pivotal stage in its transformation, and we expect it to outperform peers in the medium term.</li>
<li>Investors are seeing progress and strategic direction in three critical areas: new EV brands, increasing exports, and sustaining the success of ICE brands.</li>
<li>We are bullish about the EV capabilities of Chinese local OEMs and their ambition to enter global markets assertively. Geely Auto is one of the best plays on this theme.</li>
</ul>



Geely Auto (175 HK) is at a pivotal stage in its transformation, and we expect it to outperform peers in the medium term.
Investors are seeing progress and strategic direction in three critical areas: new EV brands, increasing exports, and sustaining the success of ICE brands.
We are bullish about the EV capabilities of Chinese local OEMs and their ambition to enter global markets assertively. Geely Auto is one of the best plays on this theme.


Geely Auto (175 HK): Initiation: A Key Play on China EV and Global Expansion Theme

Hong Kong

Geely Automobile Holdings Limited is a leading Chinese automotive company primarily engaged in the research, development, manufacturing, marketing, and sale of passenger vehicles and related components. It offers a diverse portfolio of products including sedans, SUVs, and electric vehicles under brands such as Geely Auto, Lynk & Co, and Zeekr. The company is headquartered in Hong Kong and was founded in 1973.

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Geely Auto (175 HK)

Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

Ride the Trend Higher in MSCI $ACWI and $SPX; We are still bullish as Risk-On Signals Dominate. Ideas to buy/stay long in global Discretionary,...

Vermilion Research

CX Daily: How China is Cracking Down on Border Trade Smugglers

Smugglers / In Depth: How China is cracking down on border trade smugglers “We are doing what the local government has encouraged, so why have we...

Caixin Global

Auto - 2025 Outlook: Likely a replica of 2024, but more

While some key themes including competition and the rising importance of new models are likely to continue in 2025, we also need to be prepared for...

CMB International

Hong Kong Buybacks Weekly (Sep 11th): Bilibili, Tencent, Bidu

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Bilibili (9626 HK),...

Ke Yan, CFA, FRM

Geely Auto (175 HK): Initiation: A Key Play on China EV and Global Expansion Theme

Geely Auto poised to outperform peers with focus on new EV brands, exports, making it a top play in context of our bullish view on Chinese OEMs'...

Raj S, CA, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

Ride the Trend Higher in MSCI $ACWI and $SPX; We are still bullish as Risk-On Signals Dominate. Ideas to buy/stay long in global Discretionary,...

Vermilion Research

CX Daily: How China is Cracking Down on Border Trade Smugglers

Smugglers / In Depth: How China is cracking down on border trade smugglers “We are doing what the local government has encouraged, so why have we...

Caixin Global

Auto - 2025 Outlook: Likely a replica of 2024, but more

While some key themes including competition and the rising importance of new models are likely to continue in 2025, we also need to be prepared for...

CMB International

Hong Kong Buybacks Weekly (Sep 11th): Bilibili, Tencent, Bidu

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Bilibili (9626 HK),...

Ke Yan, CFA, FRM

Geely Auto (175 HK): Initiation: A Key Play on China EV and Global Expansion Theme

​Geely Auto poised to outperform peers with focus on new EV brands, exports, making it a top play in context of our bullish view on Chinese OEMs'...

Raj S, CA, CFA

Geely Auto poised to outperform peers with focus on new EV brands, exports, making it a top play in context of our bullish view on Chinese OEMs'...