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 analysed the earning revision of component stocks of MS-Australia in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on ANZ, CAR, Fortescue, Pro Medicus, BHP, Vicinity Centres Re, Cochlear.</li>
</ul>


We analysed the earning revision of component stocks of MS-Australia in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on ANZ, CAR, Fortescue, Pro Medicus, BHP, Vicinity Centres Re, Cochlear.


MS-Australia Index Earning Revision (Aug): ANZ, CAR, Fortescue, Pro Medicus, BHP, Cochlear

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 continue to view the latest pullback as healthy/normal within the ongoing bull market, and it is quite possible that the lows have been established on MSCI ACWI (ACWI-US).</li>
<li>Upgrading EM to Market Weight; MSCI Emerging Markets, China (shanghai Composite) and Hong Kong (Hang Seng) Still Bottoming; we discussed buying in our February 23, 2024 Int'l Compass
</li>
<li>Commodities all appear to be rolling over near resistance, which is what we discussed to watch for in our April 18, 2024 Int'l Compass. This has bullish implications for ACWI</li>
</ul>


We continue to view the latest pullback as healthy/normal within the ongoing bull market, and it is quite possible that the lows have been established on MSCI ACWI (ACWI-US).
Upgrading EM to Market Weight; MSCI Emerging Markets, China (shanghai Composite) and Hong Kong (Hang Seng) Still Bottoming; we discussed buying in our February 23, 2024 Int'l Compass

Commodities all appear to be rolling over near resistance, which is what we discussed to watch for in our April 18, 2024 Int'l Compass. This has bullish implications for ACWI


Upgrading Emerging Markets to Market Weight; China/Hong Kong Continue to Bottom; Energy Breakdowns

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 24th August, published on the 28th August.</li>
<li>The largest industry net increase in the past week was A$0.4bn into "Biotechnology"; the largest industry net decrease was A$0.2bn out of "Banks". Net shorts increased A$1.2bn week-on-week.</li>
<li>Companies mentioned in this regular weekly report include: <a href="https://www.smartkarma.com/entities/csl-ltd" target="_blank" data-smartkarma-citation="entities:917:1" rel="noopener">CSL Ltd (CSL AU)</a>, <a href="https://www.smartkarma.com/entities/pls-group-limited" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">PLS Group (PLS AU)</a>, <a href="https://www.smartkarma.com/entities/evolution-mining-ltd" target="_blank" data-smartkarma-citation="entities:18363:1" rel="noopener">Evolution Mining (EVN AU)</a>, <a href="https://www.smartkarma.com/entities/stockland" target="_blank" data-smartkarma-citation="entities:661:1" rel="noopener">Stockland (SGP AU)</a>, and <a href="https://www.smartkarma.com/entities/pro-medicus-ltd" target="_blank" data-smartkarma-citation="entities:13516:1" rel="noopener">Pro Medicus Ltd (PME AU)</a>.</li>
</ul>


Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 24th August, published on the 28th August.
The largest industry net increase in the past week was A$0.4bn into "Biotechnology"; the largest industry net decrease was A$0.2bn out of "Banks". Net shorts increased A$1.2bn week-on-week.
Companies mentioned in this regular weekly report include: CSL Ltd (CSL AU), PLS Group (PLS AU), Evolution Mining (EVN AU), Stockland (SGP AU), and Pro Medicus Ltd (PME AU).


Aussie Shorts [24 Aug 2026]: CSL, PLS Group, Evolution Mining, Stockland, Pro Medicus

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Aug 21st (reported today). The aggregated short interest was USD50.2bn.</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 JB Hi-Fi, CSL, Transurban, NEWMONT, Zip.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 21st (reported today). The aggregated short interest was USD50.2bn.
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 JB Hi-Fi, CSL, Transurban, NEWMONT, Zip.


ASX Short Interest Weekly (Aug 21st): JB Hi-Fi, CSL, Transurban, NEWMONT, Zip

EURO STOXX 50 Price EUR / Technical Analysis

<ul>
<li>Key support levels on global equity indexes (EURO STOXX 50, $ACWX, $EFA) are beginning to break as the U.S. dollar (DXY) and 10-year Treasury yield break above $105.70 and 4.35%.</li>
<li>This significantly increases the odds of a break below major $92-$93 support on $ACWI, and we would shift to a more cautious outlook only on a break below $92.</li>
<li>We shifted to overweight value within non-U.S. equities last week, and we are now also shifting to overweight small-caps within non-U.S. equities as well. Buys in Transportation, Communications, and HealthCare</li>
</ul>


Key support levels on global equity indexes (EURO STOXX 50, $ACWX, $EFA) are beginning to break as the U.S. dollar (DXY) and 10-year Treasury yield break above $105.70 and 4.35%.
This significantly increases the odds of a break below major $92-$93 support on $ACWI, and we would shift to a more cautious outlook only on a break below $92.
We shifted to overweight value within non-U.S. equities last week, and we are now also shifting to overweight small-caps within non-U.S. equities as well. Buys in Transportation, Communications, and HealthCare


Supports Starting to Break; Upgrading Non-U.S. Small-Caps to Overweight; Transports/Comm/HC Buys

Australia

Pro Medicus Limited develops and supplies proprietary software and IT solutions for large medical corporations and individual medical group practices.  The Group's services include billing and management systems for diagnostic imaging providers, clinical reporting systems, and appointment booking services.  Pro Medicus' e-mail system delivers encrypted diagnostic reports to group doctors.

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Pro Medicus Ltd (PME AU)

MS-Australia Index Earning Revision (Aug): ANZ, CAR, Fortescue, Pro Medicus, BHP, Cochlear

We analyzed MS-Australia's consensus for Aug 2026 and highlighted changes of EPS in ANZ, CAR, Fortescue, Pro Medicus, BHP, Vicinity Centres Re,...

Ke Yan, CFA, FRM

Upgrading Emerging Markets to Market Weight; China/Hong Kong Continue to Bottom; Energy Breakdowns

Upgrading Emerging Markets $EEM $VWO to Market Weight; China/Hong Kong Continue to Bottom $FXI $MCHI $KWEB; Lows Likely in on $ACWI; Commodities...

Vermilion Research

Aussie Shorts [24 Aug 2026]: CSL, PLS Group, Evolution Mining, Stockland, Pro Medicus

Net shorts increased A$1.2bn week-on-week. Companies mentioned in this regular weekly include: CSL, PLS, Evolution Mining, Stockland, & Pro Medicus

David Blennerhassett

ASX Short Interest Weekly (Aug 21st): JB Hi-Fi, CSL, Transurban, NEWMONT, Zip

We analyzed ASX short interest report for the past week and highlight short interest changes in JB Hi-Fi, CSL, Transurban, NEWMONT, Zip.

Ke Yan, CFA, FRM

Supports Starting to Break; Upgrading Non-U.S. Small-Caps to Overweight; Transports/Comm/HC Buys

Support levels on global indexes (EURO STOXX 50, $ACWX, $EFA) beginning to break as $DXY and 10-year Treasury yield $TNX break above $105.70 and...

Vermilion Research

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