Independent Insight Provider

Stewart Paterson

Taurus Advisors LLP

Macroeconomics

At the time of writing the US Dollar is flirting with several support/resistance levels on charts. The Euro is oscillating around 1.05 to the dollar and has the potential to break its 2 year consolidation and move towards parity very fast. In March 2015 it traded at 1.0460 and a break of that level might send the dollar flying higher. My sense though is that the next big move up in the dollar will have more to do with bad news elsewhere, than positive news on the US. Having said that today we…

At the time of writing the US Dollar is flirting with several support/resistance levels on charts. The Euro is oscillating around 1.05 to the dollar and has the potential to break its 2 year consolidation and move towards parity very fast. In March 2015 it traded at 1.0460 and a break of that level might send the dollar flying higher. My sense though is that the next big move up in the dollar will have more to do with bad news elsewhere, than positive news on the US. Having said that today we…

Money Matters: Is the RMB About to Shoot?

The Turkish Lira has plummeted 14.5% against the dollar and 11% against the Euro since the start of October. While the Lira has never been a great store of value, even by its own standards this fall is alarming in its speed.  Turkey has USD420bn of external debt of which about USD100bn is short term (2015 Nominal GDP was UD718bn). The country continues to run a a current account deficit despite politically unacceptably low growth and a low oil price (it is an oil importer). Unemployment has been…

The Turkish Lira has plummeted 14.5% against the dollar and 11% against the Euro since the start of October. While the Lira has never been a great store of value, even by its own standards this fall is alarming in its speed.  Turkey has USD420bn of external debt of which about USD100bn is short term (2015 Nominal GDP was UD718bn). The country continues to run a a current account deficit despite politically unacceptably low growth and a low oil price (it is an oil importer). Unemployment has been…

Money Matters: Is the Lira Signalling Default Is on the Way?

APAC Investment Strategy, Animal Spirits Report

Paul M. Kitney, PhD

Quiddity Advisors

Pan-Asia Catalysts/Events

Thematic (Sector/Industry)

<ul><li>"Overweights" - Japan and Taiwan</li><li>"Underweights" - India, Singapore, Indonesia, and the Philippines</li><li>Recent Upgrades - Japan, Taiwan, and Australia. </li><li>Recent Downgrades - Hong Kong, China, Korea, India, Thailand, Indonesia and the Philippines</li><li>Key Sector Overweights - APAC financials, China consumer discretionary, Korea/Taiwan IT (semiconductors), Australia and Japan materials, Malaysia and Indonesia plantations</li><li>Key Sector Underweights - APAC consumer staples, APAC utilities, Hong Kong property</li><li>Top Bullish Themes - Macau tourism, APAC "value"factor tilt, Indian crop yield enhancement</li><li>Top Bearish Themes - Japan "minimum volatility" factor tilt and high dividend stable "bond-proxy" equities</li><li>"Top Pick" equities identified in key sectors and themes</li></ul>This is the final in a series of four short notes, which evaluate our APAC investment strategy insights over the past 3 months, provides an overview of the current state of APAC valuation and earnings, followed by an update of our asset allocation, stock, sector and equity ideas.

"Overweights" - Japan and Taiwan"Underweights" - India, Singapore, Indonesia, and the PhilippinesRecent Upgrades - Japan, Taiwan, and Australia. Recent Downgrades - Hong Kong, China, Korea, India, Thailand, Indonesia and the PhilippinesKey Sector Overweights - APAC financials, China consumer discretionary, Korea/Taiwan IT (semiconductors), Australia and Japan materials, Malaysia and Indonesia plantationsKey Sector Underweights - APAC consumer staples, APAC utilities, Hong Kong propertyTop Bullish Themes - Macau tourism, APAC "value"factor tilt, Indian crop yield enhancementTop Bearish Themes - Japan "minimum volatility" factor tilt and high dividend stable "bond-proxy" equities"Top Pick" equities identified in key sectors and themesThis is the final in a series of four short notes, which evaluate our APAC investment strategy insights over the past 3 months, provides an overview of the current state of APAC valuation and earnings, followed by an update of our asset allocation, stock, sector and equity ideas.

ANIMAL SPIRITS REPORT: Investment Outlook - Emerging Markets Trumped but Japan Escapes Value Trap

Country and Sector Earnings Revision Summary<ul><li>J-curve effects apparent in Europe, Australia, and Japan</li><li>Emerging market earnings revision underperformance led by China</li><li>Financial sector earnings recovery, especially in Japan</li><li>Consumer discretionary earnings under pressure</li><li>Earnings momentum in telecoms fading since last earnings update</li></ul>This is the third in a series of four short notes, which evaluate our APAC investment strategy insights over the past 3 months, provides an overview of the current state of APAC valuation and earnings, followed by an update of our asset allocation, stock, sector and equity ideas.

Country and Sector Earnings Revision SummaryJ-curve effects apparent in Europe, Australia, and JapanEmerging market earnings revision underperformance led by ChinaFinancial sector earnings recovery, especially in JapanConsumer discretionary earnings under pressureEarnings momentum in telecoms fading since last earnings updateThis is the third in a series of four short notes, which evaluate our APAC investment strategy insights over the past 3 months, provides an overview of the current state of APAC valuation and earnings, followed by an update of our asset allocation, stock, sector and equity ideas.

ANIMAL SPIRITS REPORT: Country and Sector Earnings Revision Summary (Dec 2016)

Public Relations and Social Media Manager, Dechert LLP

Peggy Heffner

Public Relations and Social Media Manager

Dechert is a global specialist law firm

Dechert LLP

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The Securities and Futures Commission of Hong Kong (SFC) and the China Securities Regulatory Commission (CSRC) issued a joint announcement on 25 November 2016 approving the launch of the long-awaited Shenzhen-Hong Kong Stock Connect and trading commenced this week on 5 December 2016. This supplements the prior joint official announcement made by the SFC and the CSRC in August 2016.

The Securities and Futures Commission of Hong Kong (SFC) and the China Securities Regulatory Commission (CSRC) issued a joint announcement on 25 November 2016 approving the launch of the long-awaited Shenzhen-Hong Kong Stock Connect and trading commenced this week on 5 December 2016. This supplements the prior joint official announcement made by the SFC and the CSRC in August 2016.

The Shenzhen–Hong Kong Stock Connect. A Legal Update from Dechert's Financial Services Group

Hong Kong

Hang Seng Bank is a Hong Kong-based banking and financial services company. It offers a comprehensive range of services including retail banking, wealth management, commercial banking, global banking and markets, and private banking, along with Renminbi services. The bank was founded in 1933 and is headquartered in Central, Hong Kong.

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Hang Seng Bank (11 HK)

Money Matters: Is the RMB About to Shoot?

At the time of writing the US Dollar is flirting with several support/resistance levels on charts. The Euro is oscillating around 1.05 to the...

Stewart Paterson

Money Matters: Is the Lira Signalling Default Is on the Way?

The Turkish Lira has plummeted 14.5% against the dollar and 11% against the Euro since the start of October. While the Lira has never been a great...

Stewart Paterson

ANIMAL SPIRITS REPORT: Investment Outlook - Emerging Markets Trumped but Japan Escapes Value Trap

"Overweights" - Japan and Taiwan "Underweights" - India, Singapore, Indonesia, and the Philippines Recent Upgrades - Japan, Taiwan, and...

Paul M. Kitney, PhD

ANIMAL SPIRITS REPORT: Country and Sector Earnings Revision Summary (Dec 2016)

Country and Sector Earnings Revision Summary J-curve effects apparent in Europe, Australia, and Japan Emerging market earnings revision...

Paul M. Kitney, PhD

The Shenzhen–Hong Kong Stock Connect. A Legal Update from Dechert's Financial Services Group

The Securities and Futures Commission of Hong Kong (SFC) and the China Securities Regulatory Commission (CSRC) issued a joint announcement on 25...

Dechert LLP

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52-week Range

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