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 6-month uptrend continues on ACWI-US, which generally coincides with the 50-day MA.</li>
<li>Short-Term supports to watch on ACWI-US include the 6-month uptrend (currently at $139.40), the 50-day MA (currently $137.95), and $135.70.</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 6-month uptrend continues on ACWI-US, which generally coincides with the 50-day MA.
Short-Term supports to watch on ACWI-US include the 6-month uptrend (currently at $139.40), the 50-day MA (currently $137.95), and $135.70.


Expecting Upside to Continue into Early-2026 for Global Equities $ACWI

Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>
<a href="https://smartkarma.com/entities/petrochina-co-ltd-h">PetroChina</a> is a dominant integrated oil and gas company in China with significant scale and a strong resource base, positioning it to benefit from the country's continued economic growth and energy demand.</li>
 <li>The company is actively pursuing a transition towards a greener and lower-carbon energy mix, with increasing investments in natural gas and renewable energy sources, which could provide long-term growth opportunities.</li>
 <li>Despite a favorable dividend yield and relatively low valuation multiples compared to global peers, the company faces risks from volatile commodity prices, government regulation, and the global push towards decarbonization.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
PetroChina is a dominant integrated oil and gas company in China with significant scale and a strong resource base, positioning it to benefit from the country's continued economic growth and energy demand.
  The company is actively pursuing a transition towards a greener and lower-carbon energy mix, with increasing investments in natural gas and renewable energy sources, which could provide long-term growth opportunities.
  Despite a favorable dividend yield and relatively low valuation multiples compared to global peers, the company faces risks from volatile commodity prices, government regulation, and the global push towards decarbonization.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Cross Asset Strategy

<ul>
<li>Hong Kong's market continues its consolidation in a Secular Bull Market.  Technology and healthcare sectors have weakened, while utilities, telecom, and energy sectors have strengthened.</li>
<li>Mainland investors have slowed net buying through the Southbound Connect platform.  Dividend yield, value and low volatility are leading investment factors since October. Growth and momentum factors have lagged.</li>
<li>
<a href="https://www.smartkarma.com/entities/cosco-shipping-energy-tran-h" target="_blank" data-smartkarma-citation="entities:646:1" rel="noopener">Cosco Shipping Energy Transportation Co. Ltd. (H) (1138 HK)</a> is initiated as BUY at Shenwan Hongyuan.  VLCC rates to China are rising amid U.S. oil sanctions on Russia and Venezuela.
</li>
</ul>


Hong Kong's market continues its consolidation in a Secular Bull Market.  Technology and healthcare sectors have weakened, while utilities, telecom, and energy sectors have strengthened.
Mainland investors have slowed net buying through the Southbound Connect platform.  Dividend yield, value and low volatility are leading investment factors since October. Growth and momentum factors have lagged.

Cosco Shipping Energy Transportation Co. Ltd. (H) (1138 HK) is initiated as BUY at Shenwan Hongyuan.  VLCC rates to China are rising amid U.S. oil sanctions on Russia and Venezuela.



BUY/SELL/HOLD: Hong Kong Market Update (December 17)

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>This is the Brand Spanking New and Extra Spiffy H/A-Share Discount/Premium Weekly designed to help investors see the relationships easily. We used to do it. </li>
<li>We decided to bring it back better. There are lots of cool interactive tables, and charts, heat maps, and comparative data. And 19 Trade Recommendations. </li>
<li>We hope this new version serves readers even better. Feedback is actively solicited to see if we can improve it from here. </li>
</ul>


This is the Brand Spanking New and Extra Spiffy H/A-Share Discount/Premium Weekly designed to help investors see the relationships easily. We used to do it. 
We decided to bring it back better. There are lots of cool interactive tables, and charts, heat maps, and comparative data. And 19 Trade Recommendations. 
We hope this new version serves readers even better. Feedback is actively solicited to see if we can improve it from here. 


The Brand Spanking New Extra Spiffy 🦄H/A-Share Discount/Premium Weekly (As of 11 Aug 2023)

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.

<ul><li>Six new SDRs on SGX include Hong Kong's SMIC, JD.com, PetroChina, and Thailand's BDMS, CP Foods, Gulf.</li><li>SDRs provide cost-effective, convenient access to Hong Kong and Thai stocks, with 11 HK and 10 Thai SDRs.</li><li>SMIC, JD.com, and PetroChina SDRs have underlying ratios of 5:1, 10:1, and 1:2, respectively.</li></ul>

Six new SDRs on SGX include Hong Kong's SMIC, JD.com, PetroChina, and Thailand's BDMS, CP Foods, Gulf.SDRs provide cost-effective, convenient access to Hong Kong and Thai stocks, with 11 HK and 10 Thai SDRs.SMIC, JD.com, and PetroChina SDRs have underlying ratios of 5:1, 10:1, and 1:2, respectively.

Expanded HK and Thai SDR suite now track around 50% of the Hang Seng Index and SET50 Index

China

PetroChina Company Limited operates as an oil and gas company. The Company offers crude oil and oil products exploration, development, production and marketing. PetroChina also markets petrochemical products and derivative chemicals.

Price Gauge
52-week Range	0.00 - 0.00
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PetroChina (601857 CH)

Expecting Upside to Continue into Early-2026 for Global Equities $ACWI

Expecting Upside to Continue into Early-2026 for Global Equities $ACWI. Discussed Thursday to expect support at the 50-day MA. Actionable Themes:...

Vermilion Research

Primer: PetroChina (857 HK) - Sep 2025

PetroChina is a dominant integrated oil and gas company in China with significant scale and a strong resource base, positioning it to benefit...

αSK

BUY/SELL/HOLD: Hong Kong Market Update (December 17)

Hong Kong's market continues its consolidation in a Secular Bull Market. Technology and healthcare sectors have weakened, while utilities,...

David Mudd

Expanded HK and Thai SDR suite now track around 50% of the Hang Seng Index and SET50 Index

Six new SDRs on SGX include Hong Kong's SMIC, JD.com, PetroChina, and Thailand's BDMS, CP Foods, Gulf. SDRs provide cost-effective, convenient...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Expecting Upside to Continue into Early-2026 for Global Equities $ACWI

Expecting Upside to Continue into Early-2026 for Global Equities $ACWI. Discussed Thursday to expect support at the 50-day MA. Actionable Themes:...

Vermilion Research

Primer: PetroChina (857 HK) - Sep 2025

PetroChina is a dominant integrated oil and gas company in China with significant scale and a strong resource base, positioning it to benefit...

αSK

BUY/SELL/HOLD: Hong Kong Market Update (December 17)

Hong Kong's market continues its consolidation in a Secular Bull Market. Technology and healthcare sectors have weakened, while utilities,...

David Mudd

The Brand Spanking New Extra Spiffy 🦄H/A-Share Discount/Premium Weekly (As of 11 Aug 2023)

Quiddity's New & Improved And Really Quite Spiffy H/A Discount Monitor. All the H/A Pairs, universe & sector metrics, with interactive tables and...

Travis Lundy

Expanded HK and Thai SDR suite now track around 50% of the Hang Seng Index and SET50 Index

Six new SDRs on SGX include Hong Kong's SMIC, JD.com, PetroChina, and Thailand's BDMS, CP Foods, Gulf. SDRs provide cost-effective, convenient...

Singapore Exchange Ltd (SGX)