Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>China dominates the global battery market and its manufacturers are expanding production rapidly into international markets.  Players like CATL support global automakers with the most advanced battery technology.</li>
<li>Growth of renewable energy has increased demand for Energy Storage Solutions (ESS). ESS stores energy from renewable sources, stabilizes the power grid, and provides power for industrial and commercial buildings. </li>
<li>China's battery companies are benefiting from AI data center (AIDC) storage growth, which has created intense demand for specialized energy storage solutions for this sector.</li>
</ul>


China dominates the global battery market and its manufacturers are expanding production rapidly into international markets.  Players like CATL support global automakers with the most advanced battery technology.
Growth of renewable energy has increased demand for Energy Storage Solutions (ESS). ESS stores energy from renewable sources, stabilizes the power grid, and provides power for industrial and commercial buildings. 
China's battery companies are benefiting from AI data center (AIDC) storage growth, which has created intense demand for specialized energy storage solutions for this sector.


CHINA'S BATTERY SECTOR OUTLOOK: You're Either Positive or Negative!

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

<ul><li>Analysts positive on EQDP's effect on SGX; Morningstar sees tailwind as temporary.</li><li>RHB's Yeo boosts Frencken's target price to $2.03 due to increased demand.</li><li>UOBKH's Loh raises Keppel price target to $13.23, citing increased dividends.</li></ul>

Analysts positive on EQDP's effect on SGX; Morningstar sees tailwind as temporary.RHB's Yeo boosts Frencken's target price to $2.03 due to increased demand.UOBKH's Loh raises Keppel price target to $13.23, citing increased dividends.

Singapore Market Roundup (06-Feb-2026): Analysts upbeat on EQDP's SGX impact; Morningstar warns

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>Law / In Depth: Dumping Case Shows How Chemical-Makers Shield Themselves From Liability </li><li>Autos /: China’s Carmakers Shift Price War Tactics With Low Launch Prices</li><li>Insurance /: JD.com Obtains Hong Kong Insurance Brokerage License, Sources Say</li></ul>

Law / In Depth: Dumping Case Shows How Chemical-Makers Shield Themselves From Liability Autos /: China’s Carmakers Shift Price War Tactics With Low Launch PricesInsurance /: JD.com Obtains Hong Kong Insurance Brokerage License, Sources Say

CX Daily: Dumping Case Shows How Chemical-Makers Shield Themselves From Liability 

<ul><li>Lawsuit /In Depth: Why Singapore Sovereign Fund Sues Chinese EV-Maker Nio</li><li>Food safety /In Depth: Stinky Shrimp Sets Off Storm About School Lunches</li><li>PPI /Analysis: China Tries to Lift Factory Prices, but Demand Is Still Missing</li></ul>

Lawsuit /In Depth: Why Singapore Sovereign Fund Sues Chinese EV-Maker NioFood safety /In Depth: Stinky Shrimp Sets Off Storm About School LunchesPPI /Analysis: China Tries to Lift Factory Prices, but Demand Is Still Missing

CX Daily: Why Singapore Sovereign Fund Sues Chinese EV-Maker Nio 

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>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>Our bullish near-term outlook will remain in place as long as the 4+ month uptrend continues on ACWI-US. Remain aggressively long/continue to expect more upside into year-end and the early2026.</li>
<li>Europe's EURO STOXX 50 is breaking out from its 7-month base, above the crucial 5500 level, and RS is attempting to reverse its 5-month downtrend -- buy.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
Our bullish near-term outlook will remain in place as long as the 4+ month uptrend continues on ACWI-US. Remain aggressively long/continue to expect more upside into year-end and the early2026.
Europe's EURO STOXX 50 is breaking out from its 7-month base, above the crucial 5500 level, and RS is attempting to reverse its 5-month downtrend -- buy.


Europe Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan, China, Korea, and the U.S.

China

NIO Inc. manufactures and sells automobiles. The Company offers electric vehicles and parts, as well as provides battery charging services. NIO serves customers worldwide.

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NIO (NIO US)

CHINA'S BATTERY SECTOR OUTLOOK: You're Either Positive or Negative!

CATL is considering an equity offering of up to $5B to accelerate its overseas capacity build-out and battery project deals, especially in energy...

David Mudd

Singapore Market Roundup (06-Feb-2026): Analysts upbeat on EQDP's SGX impact; Morningstar warns

Analysts view EQDP positively for SGX; Morningstar sees it as a temporary boost. RHB raises Frencken's target to $2.03; UOBKH lifts Keppel's to...

Singapore Market Roundup

CX Daily: Dumping Case Shows How Chemical-Makers Shield Themselves From Liability

Law / In Depth: Dumping Case Shows How Chemical-Makers Shield Themselves From Liability Autos /: China’s Carmakers Shift Price War Tactics With...

Caixin Global

CX Daily: Why Singapore Sovereign Fund Sues Chinese EV-Maker Nio

TOP STORIES Lawsuit / In Depth: Why Singapore Sovereign Fund Sues Chinese EV-Maker Nio Singaporean sovereign wealth fund GIC Pte. Ltd. is suing...

Caixin Global

Europe Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan, China, Korea, and the U.S.

Europe EURO $STOXX 50 Breaking Out From 7-Month Base -- Buy; Remain Overweight Taiwan $EWT, China $MCHI, Korea $EWY, and the U.S. $SPX; Bullish...

Vermilion Research

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