Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

After extending our explicit forecast periods to 10 years from five years, w e have raised our fair value estimate for <a href="https://www.smartkarma.com/entities/14315" target="_blank" data-smartkarma-citation="entities:14315:1">China Gas Holdings Ltd (384 HK)</a>, or CGH, to HKD 11.40 from HKD 10.30; that for <a href="https://www.smartkarma.com/entities/20525" target="_blank" data-smartkarma-citation="entities:20525:1">China Resources Gas Group Ltd (1193 HK)</a>, or CRG, to HKD 27.50 from HKD 22.50; and that for <a href="https://www.smartkarma.com/entities/316" target="_blank" data-smartkarma-citation="entities:316:1">Enn Energy Holdings Ltd (2688 HK)</a>, or ENN, to HKD 50.00 from HKD 44.00.We think CGH, CRG, and ENN still have further room to grow, as their penetration rates, at 52%, 45%, and 55%, respectively, are still relatively low compared with the average level of 70% in developed markets. At current price levels, CRG and ENN look attractive, while CGH is fairly valued, in our view.Analyst: Jennifer Song &amp; Chokwai Lee

After extending our explicit forecast periods to 10 years from five years, w e have raised our fair value estimate for China Gas Holdings Ltd (384 HK), or CGH, to HKD 11.40 from HKD 10.30; that for China Resources Gas Group Ltd (1193 HK), or CRG, to HKD 27.50 from HKD 22.50; and that for Enn Energy Holdings Ltd (2688 HK), or ENN, to HKD 50.00 from HKD 44.00.We think CGH, CRG, and ENN still have further room to grow, as their penetration rates, at 52%, 45%, and 55%, respectively, are still relatively low compared with the average level of 70% in developed markets. At current price levels, CRG and ENN look attractive, while CGH is fairly valued, in our view.Analyst: Jennifer Song &amp; Chokwai Lee

Raising Fair Value Estimates for City Gas Operators After Extending Our Forecast Periods

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

The first 10 months of 2016 brought its fair share of macroeconomic challenges to the region. During the 10 months, the Straits Times Index (STI) generated a 1% total return, which was not far behind that of the MSCI AC Asia Pacific Index. However, the 1% gain is hardly the full story for the 30 STI stocks in the year thus far.  All five Global Industry Classification Standards (GICS®) Sectors without STI representation also generated gains over the first 10 months. These Sectors are also at junctures of opportunity and challenge, with Sector-wide themes such as technology disruptors, population longevity &amp; growth and asymmetric trends in commodity prices. The five Sectors have also become increasingly important for investors who seek portfolio diversification in times of increased economic uncertainty.

The first 10 months of 2016 brought its fair share of macroeconomic challenges to the region. During the 10 months, the Straits Times Index (STI) generated a 1% total return, which was not far behind that of the MSCI AC Asia Pacific Index. However, the 1% gain is hardly the full story for the 30 STI stocks in the year thus far.  All five Global Industry Classification Standards (GICS®) Sectors without STI representation also generated gains over the first 10 months. These Sectors are also at junctures of opportunity and challenge, with Sector-wide themes such as technology disruptors, population longevity &amp; growth and asymmetric trends in commodity prices. The five Sectors have also become increasingly important for investors who seek portfolio diversification in times of increased economic uncertainty. 

Buoyant Returns Beyond the Benchmark in 2016 YTD

Founder and CEO, Europacifica Consulting

Naomi Fink

Founder and CEO

Europacifica Consulting

In the first piece of the series <a href="https://www.smartkarma.com/insights/silk-roads-part-i-background" target="_blank" data-smartkarma-citation="insights:7042">Silk Roads Part I: Background</a> we outlined briefly the drivers behind China's "One Belt One Road" initiative which in our view remains an important complementary external pillar to China's ongoing domestic policy agenda, and thus a high-conviction longer-term investment theme. In the second piece in our Silk Roads series, we situate the OBOR bloc in terms of current liquid investment securities.OBOR markets already comprise 22% of world market capitalisation and are home to about 60% of cross-border investment capital resident in emerging market economies worldwide.  Of that 60%, 40% of this capital is resident in China. From an investment strategy standpoint, this shows that, while beneficiaries of the policy exist further afield than in China itself, there are merits in focusing on those Chinese names exposed to OBOR investments as the first port-of-call.

In the first piece of the series Silk Roads Part I: Background we outlined briefly the drivers behind China's "One Belt One Road" initiative which in our view remains an important complementary external pillar to China's ongoing domestic policy agenda, and thus a high-conviction longer-term investment theme. In the second piece in our Silk Roads series, we situate the OBOR bloc in terms of current liquid investment securities.OBOR markets already comprise 22% of world market capitalisation and are home to about 60% of cross-border investment capital resident in emerging market economies worldwide.  Of that 60%, 40% of this capital is resident in China. From an investment strategy standpoint, this shows that, while beneficiaries of the policy exist further afield than in China itself, there are merits in focusing on those Chinese names exposed to OBOR investments as the first port-of-call. 

Silk Roads Part 2: Big (Emerging Market) OBOR Investors

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

The decision to build two new nuclear power stations At Hinkley C in Somerset, England, has rightly been called in for review. It cannot be supported on cost, environmental, political or security grounds. It should be dropped.

The decision to build two new nuclear power stations At Hinkley C in Somerset, England, has rightly been called in for review. It cannot be supported on cost, environmental, political or security grounds. It should be dropped.

Good Reasons Not to Go Ahead with Hinkley C

Two recent reports on business confidence from the European Union and the American Chambers of Commerce in China show a marked fall in business confidence over the past year. Both reports share common concerns, although there are some marked differences, particularly on the question of innovation.

Two recent reports on business confidence from the European Union and the American Chambers of Commerce in China show a marked fall in business confidence over the past year. Both reports share common concerns, although there are some marked differences, particularly on the question of innovation.

US, EU Business Confidence Falls in China

China

Huaneng Power International, Inc. provides electricity generation services. The Company offers electricity transmission, electricity distribution, power transformation, and other related services. Huaneng Power International provides services in China.

Huaneng Power International In (600011 CH)

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Huaneng Power International In (600011 CH)

Raising Fair Value Estimates for City Gas Operators After Extending Our Forecast Periods

After extending our explicit forecast periods to 10 years from five years, w e have raised our fair value estimate for China Gas Holdings Ltd (384...

Morningstar, Inc.

Buoyant Returns Beyond the Benchmark in 2016 YTD

The first 10 months of 2016 brought its fair share of macroeconomic challenges to the region. During the 10 months, the Straits Times Index (STI)...

Singapore Exchange Ltd (SGX)

Silk Roads Part 2: Big (Emerging Market) OBOR Investors

In the first piece of the series Silk Roads Part I: Background we outlined briefly the drivers behind China's "One Belt One Road" initiative which...

Naomi Fink

Good Reasons Not to Go Ahead with Hinkley C

The decision to build two new nuclear power stations At Hinkley C in Somerset, England, has rightly been called in for review. It cannot be...

Bixmoor

US, EU Business Confidence Falls in China

Two recent reports on business confidence from the European Union and the American Chambers of Commerce in China show a marked fall in business...

Bixmoor

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)