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

Sumitomo Mitsui Financial Group / Technical Analysis

Sumitomo Mitsui Financial Group (8316 JP)

<ul>
<li>Our bullish outlook (since early-November 2023) remains intact. Continue to ride this trend higher and buy dips as long as ACWI-US and EEM-US remain above supports at $110 and $41-$42.</li>
<li>In our previous Int'l Compass (June 27) we discussed the rotation that we believed was starting, whereby global Technology (IXN-US) would consolidate as investors rotate to laggard areas.</li>
<li>This rotation has continued while Technology goes through a healthy consolidation. Continue to focus on other more value-oriented Sectors while Technology/growth consolidates</li>
</ul>


Our bullish outlook (since early-November 2023) remains intact. Continue to ride this trend higher and buy dips as long as ACWI-US and EEM-US remain above supports at $110 and $41-$42.
In our previous Int'l Compass (June 27) we discussed the rotation that we believed was starting, whereby global Technology (IXN-US) would consolidate as investors rotate to laggard areas.
This rotation has continued while Technology goes through a healthy consolidation. Continue to focus on other more value-oriented Sectors while Technology/growth consolidates


Rotation Continues; Bullish Outlook Intact; Buys in Global Financials, Industrials, Discretionary

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>Our WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.</li>
<li>We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.</li>
<li>
Most overbought:  BHP Group Ltd, POSCO Holdings, Bank of China, Hitachi Ltd. Most oversold: NetEase Cloud Music, Samsung Electronics, Meituan, Gold, Softbank Group, Contemporary Amperex Technology (CATL) </li>
</ul>


Our WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.
We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.

Most overbought:  BHP Group Ltd, POSCO Holdings, Bank of China, Hitachi Ltd. Most oversold: NetEase Cloud Music, Samsung Electronics, Meituan, Gold, Softbank Group, Contemporary Amperex Technology (CATL) 


WEEKLY Tactical Recap: Samsung Electronics, CATL, Gold, Softbank Group, NetEase, BHP, POSCO Holdings

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Overseas: SPX +0.6%, Nasdaq +0.3%; Illumina +7%, Microsoft -1%, Intel -2%</li>
<li>Today: NKY Futs +0.1% v cash. JPY/$146; Kewpie and Ezaki Glico raising prices; Appier helping Nexon</li>
<li>JapanX: Komatsu Expands Construction Software Arsenal with iVolve Acquisition for Fleet Management Services</li>
</ul>


Overseas: SPX +0.6%, Nasdaq +0.3%; Illumina +7%, Microsoft -1%, Intel -2%
Today: NKY Futs +0.1% v cash. JPY/$146; Kewpie and Ezaki Glico raising prices; Appier helping Nexon
JapanX: Komatsu Expands Construction Software Arsenal with iVolve Acquisition for Fleet Management Services


Ohayo Japan | Five Weeks of Gains; Komatsu Acquires IVolve

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.

<ul><li>For Chinese machinery manufacturers, penetration overseas remains a longterm driver.</li><li>That said, with growth trend reversing since mid-2023 after 2-3 years of extraordinary growth, the way to overseas expansion will likely be bumpy in 2024E, especially when the overseas competitors are recovering from the supply chain bottleneck.</li><li>Geographically, we expect strong demand to continue in the US and the Middle East, but weakness in Europe and China. </li></ul>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.

For Chinese machinery manufacturers, penetration overseas remains a longterm driver.That said, with growth trend reversing since mid-2023 after 2-3 years of extraordinary growth, the way to overseas expansion will likely be bumpy in 2024E, especially when the overseas competitors are recovering from the supply chain bottleneck.Geographically, we expect strong demand to continue in the US and the Middle East, but weakness in Europe and China. 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.

China Construction Machinery / HDT – 2024 Outlook

<ul>
<li>After a strong start to the week, Japanese equities ended flat after succumbing to a global tech sell-off. </li>
<li>Tadano was the best performer among Topix names this week. The street is upgrading forecasts post Q2 numbers and full year guidance revision. Makes sense</li>
<li>We highlight stocks that have had significant shareholder changes. Activists continue to increase positions and Oasis goes big on Sagami Rubber</li>
</ul>


After a strong start to the week, Japanese equities ended flat after succumbing to a global tech sell-off. 
Tadano was the best performer among Topix names this week. The street is upgrading forecasts post Q2 numbers and full year guidance revision. Makes sense
We highlight stocks that have had significant shareholder changes. Activists continue to increase positions and Oasis goes big on Sagami Rubber


Japan Weekly | Tadano, JMDC, CyberAgent, JFE, Komatsu

Japan

KOMATSU LTD. manufactures and sells construction and mining machinery, including excavators, bulldozers, and wheel loaders.  The Company, operating on a global scale, also produces forklift trucks and engineering equipment such as press system.

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Komatsu Ltd (6301 JP)

Rotation Continues; Bullish Outlook Intact; Buys in Global Financials, Industrials, Discretionary

Rotation Continues; Bullish Outlook Intact as $ACWI and $EEM hold above $110 and $41-42; Buys in global Financials, Industrials, and Consumer...

Vermilion Research

WEEKLY Tactical Recap: Samsung Electronics, CATL, Gold, Softbank Group, NetEase, BHP, POSCO Holdings

Weekly Global Macro Tactical Recap: our models tracks trends across asset classes to highlight overbought/oversold market conditions across Asian...

Nico Rosti

Ohayo Japan | Five Weeks of Gains; Komatsu Acquires IVolve

Global markets rise, with Illumina surging despite Microsoft and Intel declining. In Japan, Komatsu acquires iVolve to enhance fleet management...

Mark Chadwick

China Construction Machinery / HDT – 2024 Outlook

That said, with growth trend reversing since mid-2023 after 2-3 years of extraordinary growth, the way to overseas expansion will likely be bumpy...

CMB International

Japan Weekly | Tadano, JMDC, CyberAgent, JFE, Komatsu

Japanese equities started strong but ended flat due to a global tech sell-off. Tadano performed well, following upgrades in forecasts. Activists...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Rotation Continues; Bullish Outlook Intact; Buys in Global Financials, Industrials, Discretionary

Rotation Continues; Bullish Outlook Intact as $ACWI and $EEM hold above $110 and $41-42; Buys in global Financials, Industrials, and Consumer...

Vermilion Research

WEEKLY Tactical Recap: Samsung Electronics, CATL, Gold, Softbank Group, NetEase, BHP, POSCO Holdings

Weekly Global Macro Tactical Recap: our models tracks trends across asset classes to highlight overbought/oversold market conditions across Asian...

Nico Rosti

Ohayo Japan | Five Weeks of Gains; Komatsu Acquires IVolve

​Global markets rise, with Illumina surging despite Microsoft and Intel declining. In Japan, Komatsu acquires iVolve to enhance fleet management...

Mark Chadwick

China Construction Machinery / HDT – 2024 Outlook

That said, with growth trend reversing since mid-2023 after 2-3 years of extraordinary growth, the way to overseas expansion will likely be bumpy...

CMB International

Japan Weekly | Tadano, JMDC, CyberAgent, JFE, Komatsu

​Japanese equities started strong but ended flat due to a global tech sell-off. Tadano performed well, following upgrades in forecasts. Activists...

Mark Chadwick

Global markets rise, with Illumina surging despite Microsoft and Intel declining. In Japan, Komatsu acquires iVolve to enhance fleet management...

Japanese equities started strong but ended flat due to a global tech sell-off. Tadano performed well, following upgrades in forecasts. Activists...