Co-founder of Cube Asia, Cube Asia

Simon Torring

Co-founder of Cube Asia

Defining Social Commerce in Southeast Asia

Cube Asia

We offer granular market data and insights for online retail in Southeast Asia, helping brands and retail companies drive profitable growth. 

Why the Cube?
3 dimensions of granularity to help you get deep into the 1) geographies, 2) categories, and 3) types of data and insights you need for your business.

The Cube is a big-data machine that is continuously listening to public data sources and primary research, and triangulating across thousands of data points using probabilistic modeling to produce an accurate and granular picture of Southeast Asia’s online retail landscape.

Equity Bottom-Up

<ul><li>It has been a challenging couple of years for Lazada, Alibaba’s e-commerce platform in Southeast Asia.</li><li>After entering – and arguably helping create – the region’s modern online shopping market in 2012 as a first-mover (then backed by Rocket Internet), Lazada’s competitive environment got tougher and tougher over the years.</li><li>First, Shopee emerged as a formidable regional competitor from 2015/2016.</li></ul>

It has been a challenging couple of years for Lazada, Alibaba’s e-commerce platform in Southeast Asia.After entering – and arguably helping create – the region’s modern online shopping market in 2012 as a first-mover (then backed by Rocket Internet), Lazada’s competitive environment got tougher and tougher over the years.First, Shopee emerged as a formidable regional competitor from 2015/2016.

Return of the King, or The Changing of the Guard: How Should We Think About Lazada

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>Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023</li>
<li>As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves </li>
<li>TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts</li>
</ul>


Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023
As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves 
TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts


Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>JD US/1810 HK/BABA US:NRDC announces positive results for “old-for-new” trade-in during September (+)</li>
<li>BILI US:Bilibili's &lt;Three Kingdoms: MDTX&gt; Shows Robust Gross Billings Performance After Season 3 Update (+)</li>
<li>PDD US/BABA US/JD US: PDD reduces the minimum withdrawal threshold for funds (/)</li>
</ul>


JD US/1810 HK/BABA US:NRDC announces positive results for “old-for-new” trade-in during September (+)
BILI US:Bilibili's &lt;Three Kingdoms: MDTX&gt; Shows Robust Gross Billings Performance After Season 3 Update (+)
PDD US/BABA US/JD US: PDD reduces the minimum withdrawal threshold for funds (/)


[Blue Lotus Daily-TMT Update]:JD US/1810 HK/BABA/BILI/PDD/1519HK/ZTO /SE/700HK/BIDU/20HK/3690HK

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>This week we look at Shopee's tie-up with YouTube on e-commerce in Indonesia, MR DIY's next plan to list in Indonesia, and <a href="https://www.smartkarma.com/entities/goto-gojek-tokopedia-tbk-pt" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">GoTo</a> helping to drive free school meals programme.</li>
<li>We also look at the potential pitfalls of AI in the banking industry specifically for micro-lending, where the data may not be reliable, leading to a higher incidence of NPLs. </li>
<li>CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.</li>
</ul>


This week we look at Shopee's tie-up with YouTube on e-commerce in Indonesia, MR DIY's next plan to list in Indonesia, and GoTo helping to drive free school meals programme.
We also look at the potential pitfalls of AI in the banking industry specifically for micro-lending, where the data may not be reliable, leading to a higher incidence of NPLs. 
CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.


CrossASEAN Ground Zero - Shopee & YouTube, MR DIY Rollingout, GOTO, and AI & Micro Lending

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

<ul>
<li>Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.</li>
<li>
<a href="https://www.smartkarma.com/entities/sea-ltd" target="_blank" data-smartkarma-citation="entities:8509:1" rel="noopener">Sea (SE US)</a> owned Shopee has partnered with YouTube to drive GMV growth and resist  competition with TikTok, which has strengthened its regional presence through its stake in Tokopedia,</li>
<li>India's strong shopping appetite was reflected in robust gold purchases in August and high demand for the iPhone 16 launched last week.</li>
</ul>


Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.

Sea (SE US) owned Shopee has partnered with YouTube to drive GMV growth and resist  competition with TikTok, which has strengthened its regional presence through its stake in Tokopedia,
India's strong shopping appetite was reflected in robust gold purchases in August and high demand for the iPhone 16 launched last week.


Weekly Consumer Tales: Shopee Youtube Tieup-China Home Price Slump-India's Rising Gold, Iphone Sales

Singapore

Sea Limited offers information technology services. The Company provides online personal computer and mobile digital content, e-commerce, and payment platforms. Sea serves customers worldwide.

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Sea Ltd (SE US)

Return of the King, or The Changing of the Guard: How Should We Think About Lazada

It has been a challenging couple of years for Lazada, Alibaba’s e-commerce platform in Southeast Asia. After entering – and arguably helping...

Simon Torring

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI ex-US, and EAFE (local currency) Also Below Resistance Though Testing Now; $EEM breakout...

Vermilion Research

[Blue Lotus Daily-TMT Update]:JD US/1810 HK/BABA/BILI/PDD/1519HK/ZTO /SE/700HK/BIDU/20HK/3690HK

NRDC reports successful "old-for-new" trade-in results, Bilibili's sees strong gross billings post update, PDD lowers minimum withdrawal...

Blue Lotus Research Institute

CrossASEAN Ground Zero - Shopee & YouTube, MR DIY Rollingout, GOTO, and AI & Micro Lending

This week we look at Shopee's tie-up with YouTube on e-commerce in Indonesia, MR DIY's next plan to list in Indonesia, and GoTo helping to drive...

Angus Mackintosh

Weekly Consumer Tales: Shopee Youtube Tieup-China Home Price Slump-India's Rising Gold, Iphone Sales

Shopee (SE US) has partnered with YouTube to boost GMV and counter competition from TikTok, which has expanded its regional presence through its...

Devi Subhakesan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Return of the King, or The Changing of the Guard: How Should We Think About Lazada

It has been a challenging couple of years for Lazada, Alibaba’s e-commerce platform in Southeast Asia. After entering – and arguably helping...

Simon Torring

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI ex-US, and EAFE (local currency) Also Below Resistance Though Testing Now; $EEM breakout...

Vermilion Research

[Blue Lotus Daily-TMT Update]:JD US/1810 HK/BABA/BILI/PDD/1519HK/ZTO /SE/700HK/BIDU/20HK/3690HK

​NRDC reports successful "old-for-new" trade-in results, Bilibili's sees strong gross billings post update, PDD lowers minimum withdrawal...

Blue Lotus Research Institute

CrossASEAN Ground Zero - Shopee & YouTube, MR DIY Rollingout, GOTO, and AI & Micro Lending

This week we look at Shopee's tie-up with YouTube on e-commerce in Indonesia, MR DIY's next plan to list in Indonesia, and GoTo helping to drive...

Angus Mackintosh

Weekly Consumer Tales: Shopee Youtube Tieup-China Home Price Slump-India's Rising Gold, Iphone Sales

Shopee (SE US) has partnered with YouTube to boost GMV and counter competition from TikTok, which has expanded its regional presence through its...

Devi Subhakesan

NRDC reports successful "old-for-new" trade-in results, Bilibili's sees strong gross billings post update, PDD lowers minimum withdrawal...