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>A pullback in global equities is underway following steep uptrend violations on MSCI ACWI (ACWI-US) and EURO STOXX 50. Both are 4-5% off their highs; further downside may be limited.</li>
<li>Several 5%-10% pullbacks are to be expected in any given year, particularly after the historic 5-month rallies, so we view this as healthy and normal within the ongoing bull market.</li>
<li>ACWI-US is currently testing important support at $105; if this area were to break, next major supports are $102 and $99; this is where we would be buying.</li>
</ul>


A pullback in global equities is underway following steep uptrend violations on MSCI ACWI (ACWI-US) and EURO STOXX 50. Both are 4-5% off their highs; further downside may be limited.
Several 5%-10% pullbacks are to be expected in any given year, particularly after the historic 5-month rallies, so we view this as healthy and normal within the ongoing bull market.
ACWI-US is currently testing important support at $105; if this area were to break, next major supports are $102 and $99; this is where we would be buying.


Pullback Underway; Further Downside Limited?; Buys in Defensives and Commodity-Related Sectors

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 latest HK SFC report for aggregate short position as of Aug 21st.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Alibaba, Hua Hong Semi, Xiaomi, Kingboard Laminates, Cspc Pharma, China Life, 3Sbio.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Aug 21st.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Alibaba, Hua Hong Semi, Xiaomi, Kingboard Laminates, Cspc Pharma, China Life, 3Sbio.


HK Short Interest Weekly: Alibaba, Hua Hong Semi, Xiaomi, Kingboard Laminates, Cspc Pharma, 3Sbio

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 28th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Innovent Bio, Minimax, Kuaishou, Ping An.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Innovent Bio, Minimax, Kuaishou, Ping An.


HK Connect Flows Weekly (Aug 28th): Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Minimax

AngloGold Ashanti Spon Adr / Technical Analysis

<ul>
<li>We continue to see more global indexes/Sectors breaking out to new highs, with the latest being the MSCI Emerging Markets index (local currency), breaking out from a 2-year base--add exposure.</li>
<li>In terms of MSCI EM specifically, this is a huge risk-on signal for global equities, as EM is pretty much as risky as it gets across the global landscape.</li>
<li>Our bullish outlook (since early November 2023) remains intact; continue to ride this trend higher, and treat pullbacks as buying opportunities.</li>
</ul>


We continue to see more global indexes/Sectors breaking out to new highs, with the latest being the MSCI Emerging Markets index (local currency), breaking out from a 2-year base--add exposure.
In terms of MSCI EM specifically, this is a huge risk-on signal for global equities, as EM is pretty much as risky as it gets across the global landscape.
Our bullish outlook (since early November 2023) remains intact; continue to ride this trend higher, and treat pullbacks as buying opportunities.


MSCI Emerging Markets Finally Join the Rally; China/HK Improve; Upgrading Taiwan, Downgrading Brazil

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Aug 14th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Jd.Com, Ntes, Montage Tech, Kingboard Laminates, Minimax, Smic.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Aug 14th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Jd.Com, Ntes, Montage Tech, Kingboard Laminates, Minimax, Smic.


HK Short Interest Weekly: Jd.Com, Ntes, Montage Tech, Kingboard Laminates, Minimax, Smic

China

PetroChina is a Chinese oil and gas company engaged in the exploration, development, production, transportation, and marketing of crude oil and natural gas, as well as new energy operations. It also refines crude oil and petroleum products, produces and markets petrochemical products, and sells natural gas. The company was founded on November 5, 1999, and is headquartered in Beijing, China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

PetroChina (857 HK)

HK Short Interest Weekly: Alibaba, Hua Hong Semi, Xiaomi, Kingboard Laminates, Cspc Pharma, 3Sbio

We analyzed the latest HK SFC report for aggregate short position as of Aug 21st and highlight short interest changes in Alibaba (9988 HK), Hua...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Aug 28th): Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Minimax

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma,...

Ke Yan, CFA, FRM

MSCI Emerging Markets Finally Join the Rally; China/HK Improve; Upgrading Taiwan, Downgrading Brazil

MSCI EM Finally Joins the Rally; China/Hong Kong Continue to Improve; Downgrading Brazil to Market Weight; Upgrading Taiwan to Overweight;...

Vermilion Research

HK Short Interest Weekly: Jd.Com, Ntes, Montage Tech, Kingboard Laminates, Minimax, Smic

We analyzed the latest HK SFC report for aggregate short position as of Aug 14th and highlight short interest changes in Jd.Com, Ntes, Montage...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Pullback Underway; Further Downside Limited?; Buys in Defensives and Commodity-Related Sectors

Pullback Underway; Further Downside Limited?; Commodities Testing Resistance; Buys in Global Defensives (Staples, Utilities, Telecomm), Commodity...

Vermilion Research

HK Short Interest Weekly: Alibaba, Hua Hong Semi, Xiaomi, Kingboard Laminates, Cspc Pharma, 3Sbio

We analyzed the latest HK SFC report for aggregate short position as of Aug 21st and highlight short interest changes in Alibaba (9988 HK), Hua...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Aug 28th): Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Minimax

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma,...

Ke Yan, CFA, FRM

MSCI Emerging Markets Finally Join the Rally; China/HK Improve; Upgrading Taiwan, Downgrading Brazil

MSCI EM Finally Joins the Rally; China/Hong Kong Continue to Improve; Downgrading Brazil to Market Weight; Upgrading Taiwan to Overweight;...

Vermilion Research

HK Short Interest Weekly: Jd.Com, Ntes, Montage Tech, Kingboard Laminates, Minimax, Smic

We analyzed the latest HK SFC report for aggregate short position as of Aug 14th and highlight short interest changes in Jd.Com, Ntes, Montage...

Ke Yan, CFA, FRM