Financials & FinTech research, Galliano’s Financials Research

Victor Galliano

Financials & FinTech research

Financials & FinTech, EM & Developed Markets

Galliano’s Financials Research

Galliano's Financials Research provides fundamental research in Emerging Markets financials, including FinTech, as well as financials in select Developed Markets.

The investment style applied is generally value oriented, although Growth At Reasonable Price (GARP) strategies can also be used where appropriate. 

Our investment research approach aim is often contrarian, looking to capitalise on overly sceptical or optimistic consensus views. In terms of valuation techniques, the focus is on PBV ratio to ROE, PE multiples and dividend yield, as well as the application of PEG ratios and, where appropriate, Sum of the Parts (SOTP) valuations.

Thematic (Sector/Industry)

<ul>
<li>Among the large-cap EM Asia banks, we recommend CCB in China, HDFC Bank in India, Bank Mandiri in Indonesia and Hana Financial in South Korea</li>
<li>In LatAm, we turn positive on Banco do Brasil, for its big value attributes and lesser political risk; we turn cautious on Bradesco and stay cautious on Banorte in Mexico</li>
<li>Two large-cap names to watch are Credicorp in Peru and Standard Bank of South Africa; both have challenging macro-economic backdrops but sound “bottom up” credentials</li>
</ul>


Among the large-cap EM Asia banks, we recommend CCB in China, HDFC Bank in India, Bank Mandiri in Indonesia and Hana Financial in South Korea
In LatAm, we turn positive on Banco do Brasil, for its big value attributes and lesser political risk; we turn cautious on Bradesco and stay cautious on Banorte in Mexico
Two large-cap names to watch are Credicorp in Peru and Standard Bank of South Africa; both have challenging macro-economic backdrops but sound “bottom up” credentials


Large Cap GEM Bank Screener - Our Top Picks

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 short interest of Bursa stocks as of Aug 14th. The aggregated short interest is USD1,419m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Malayan Banking, Tenaga Nasional, Kelington, Heineken, Pentamaster.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Aug 14th. The aggregated short interest is USD1,419m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Malayan Banking, Tenaga Nasional, Kelington, Heineken, Pentamaster.


Bursa Short Interest Weekly (Aug 14th): Malayan Banking, Tenaga Nasional, Kelington, Heineken

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Jul 31st. The aggregated short interest is USD1,324m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Petronas Chemicals, RHB Bank, MY EG Services, IOI Properties, SNS.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Jul 31st. The aggregated short interest is USD1,324m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Petronas Chemicals, RHB Bank, MY EG Services, IOI Properties, SNS.


Bursa Short Interest Weekly (Jul 31st): Petronas Chemicals, RHB Bank, MY EG Services, IOI Properties

Alpha-Centric ESG Research

Kyle Rudden

<ul>
<li>Combating climate change is a global imperative, and is particularly urgent for Southeast Asia which faces a disproportionate share of the adverse physical, social, and economic impacts.</li>
<li>ASEAN nations have demonstrated a strong commitment to climate action and have made real progress in certain areas, but require substantial climate financing to achieve their targets.</li>
<li>All regional ASEAN banks will play a critical role in climate finance, but those at the forefront of sustainable/green finance are poised to benefit from the region's climate transition.</li>
</ul>


Combating climate change is a global imperative, and is particularly urgent for Southeast Asia which faces a disproportionate share of the adverse physical, social, and economic impacts.
ASEAN nations have demonstrated a strong commitment to climate action and have made real progress in certain areas, but require substantial climate financing to achieve their targets.
All regional ASEAN banks will play a critical role in climate finance, but those at the forefront of sustainable/green finance are poised to benefit from the region's climate transition.


Green Banking in ASEAN: An Assessment of ASEAN Banks' Sustainable Finance Policies

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Jul 24th. The aggregated short interest is USD1,283m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Press Metal, Frontken, Nestle (Malaysia), United Plantations, Petronas Chemicals.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Jul 24th. The aggregated short interest is USD1,283m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Press Metal, Frontken, Nestle (Malaysia), United Plantations, Petronas Chemicals.


Bursa Short Interest Weekly (Jul 24th): Press Metal, Frontken, Nestle (Malaysia), United Plantations

Malaysia

Malayan Banking Berhad operates as a bank. The Company provides financial services such as insurance, asset management, stock broking, nominee services, venture capital, leasing, and Internet banking. Malayan Banking Berhad serves customers in South East Asia.

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Maybank (MAY MK)

Large Cap GEM Bank Screener - Our Top Picks

In EM Asia, we like CCB, HDFC Bank, Mandiri & Hana; in LatAm, we turn positive on Banco do Brasil, go cautious on Bradesco & remain cautious on...

Victor Galliano

Bursa Short Interest Weekly (Aug 14th): Malayan Banking, Tenaga Nasional, Kelington, Heineken

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Malayan Banking, Tenaga Nasional,...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Jul 31st): Petronas Chemicals, RHB Bank, MY EG Services, IOI Properties

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Petronas Chemicals, RHB Bank, MY EG...

Ke Yan, CFA, FRM

Green Banking in ASEAN: An Assessment of ASEAN Banks' Sustainable Finance Policies

ASEAN needs billions (probably trillions) in climate finance, and ASEAN banks are poised to play a vital role. This is an assessment of sustainable...

Kyle Rudden

Bursa Short Interest Weekly (Jul 24th): Press Metal, Frontken, Nestle (Malaysia), United Plantations

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Press Metal, Frontken, Nestle...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)