Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A monthly review of how the markets and our themes are currently performing</li>
<li>Analysing what went wrong and what went right in stocks and sectors</li>
<li>Highlighting positions added or removed from the thematic investment portfolio</li>
</ul>


A monthly review of how the markets and our themes are currently performing
Analysing what went wrong and what went right in stocks and sectors
Highlighting positions added or removed from the thematic investment portfolio


November Themes and Thematic Portfolio Review

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

S&P Small Cap 600 Index / Technical Analysis

<ul>
<li>Our outlook remains bullish and the significant end-of-year rally that we have been expecting since mid-October is in full swing; continue to ride the trend higher.</li>
<li>Our election day Compass report (11/5/24) was titled "Buy the Pullback," and last week's Compass (11/19/24) was similarly titled "Buy the Pullback Again" </li>
<li>We continue to expect significant upside into year-end and the early part of 2025, with small- and mid-caps leading the way, and for index support at 20-day MAs.</li>
</ul>


Our outlook remains bullish and the significant end-of-year rally that we have been expecting since mid-October is in full swing; continue to ride the trend higher.
Our election day Compass report (11/5/24) was titled "Buy the Pullback," and last week's Compass (11/19/24) was similarly titled "Buy the Pullback Again" 
We continue to expect significant upside into year-end and the early part of 2025, with small- and mid-caps leading the way, and for index support at 20-day MAs.


Continue to Ride the Trend Higher; Upgrading Discretionary to Overweight; Overweight Mid/Small-Caps

<ul>
<li>A review of recent events/data impacting our investment themes or outlook</li>
<li>In the markets we follow, China, Gold and the JPY most impacted</li>
<li>Which ones should we fade and where has the trend changed?</li>
</ul>


A review of recent events/data impacting our investment themes or outlook
In the markets we follow, China, Gold and the JPY most impacted
Which ones should we fade and where has the trend changed?


Overview #12 - Not Another Trump Trade!Time to Fade?

<ul>
<li>Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside constructive market dynamics which have significantly improved over the past week.</li>
<li>Last week's 11/5/24 report titled "Buy the Pullback" discussed how we were buyers, expecting a strong end-of-year rally to start that day or the following day (day after the election)</li>
<li>The strong rally officially started on election day, and all that is left to do is ride the trend higher into year-end and the early part of 2025</li>
</ul>


Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside constructive market dynamics which have significantly improved over the past week.
Last week's 11/5/24 report titled "Buy the Pullback" discussed how we were buyers, expecting a strong end-of-year rally to start that day or the following day (day after the election)
The strong rally officially started on election day, and all that is left to do is ride the trend higher into year-end and the early part of 2025


Ride the Trend Higher; Significant End-Of-Year Rally Underway; Four Sector Upgrades, One Downgrade

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

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

Macroeconomics

<ul>
<li>Donald Trump is the first candidate to win non-consecutive terms as President since Grover Cleveland 132 years ago. Winning the popular vote strengthens his mandate, with Senate/House also Republican. </li>
<li>Trump proposes to cut the corporate tax rate to 15%, make his income tax cuts permanent, de-regulate energy (and end the Ukraine war). Lower oil prices and faster growth likely. </li>
<li>Lower taxes and regulation, hence lower inflation/rates, would provide a fillip to equities. Conventional energy, banks/PE would win. India, Japan, SKorea, Germany, Russia would be winners, UK/NATO the losers. </li>
</ul>


Donald Trump is the first candidate to win non-consecutive terms as President since Grover Cleveland 132 years ago. Winning the popular vote strengthens his mandate, with Senate/House also Republican. 
Trump proposes to cut the corporate tax rate to 15%, make his income tax cuts permanent, de-regulate energy (and end the Ukraine war). Lower oil prices and faster growth likely. 
Lower taxes and regulation, hence lower inflation/rates, would provide a fillip to equities. Conventional energy, banks/PE would win. India, Japan, SKorea, Germany, Russia would be winners, UK/NATO the losers. 


US: Trump Sweep of WH, Senate, House Clears the Way for Growth and Lower Brent

United States

The U.S. Dollar Index(USDX) indicates the general int'l value of the USD. The USDX does this by averaging the exchange rates between the USD and  major world currencies.  The ICE US computes this by using the rates supplied by some 500 banks. FOR REAL TIME SEE EIS ICEA<GO>. 

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

Dollar Index (DXY CURNCY)

November Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

Continue to Ride the Trend Higher; Upgrading Discretionary to Overweight; Overweight Mid/Small-Caps

Continue to Ride the Trend Higher; Upgrading Discretionary to Overweight $XLY $RSPD $XRT; Overweight Mid- & Small-Caps $IWM $IJR $IJH. Latest "Buy...

Vermilion Research

Overview #12 - Not Another Trump Trade!Time to Fade?

A review of recent events/data impacting our investment themes and outlook. We look at the some post election trends in China, Japan and Precious...

Rikki Malik

Ride the Trend Higher; Significant End-Of-Year Rally Underway; Four Sector Upgrades, One Downgrade

Ride the Trend Higher; Significant End-of-Year Rally Underway $SPX $QQQ $IWM; Four Sector Upgrades ($XLF to overweight, $XLY $XLI and $IYT to...

Vermilion Research

US: Trump Sweep of WH, Senate, House Clears the Way for Growth and Lower Brent

Trump's re-election strengthens mandate with Republican control of Senate/House. Proposed tax cuts, deregulation to boost economy/equities and...

Prasenjit K. Basu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

November Themes and Thematic Portfolio Review

We review overall market performance, our investment themes, highlighting additions and substractions in the thematic portfolio.

Rikki Malik

Continue to Ride the Trend Higher; Upgrading Discretionary to Overweight; Overweight Mid/Small-Caps

Continue to Ride the Trend Higher; Upgrading Discretionary to Overweight $XLY $RSPD $XRT; Overweight Mid- & Small-Caps $IWM $IJR $IJH. Latest "Buy...

Vermilion Research

Overview #12 - Not Another Trump Trade!Time to Fade?

A review of recent events/data impacting our investment themes and outlook. We look at the some post election trends in China, Japan and Precious...

Rikki Malik

Ride the Trend Higher; Significant End-Of-Year Rally Underway; Four Sector Upgrades, One Downgrade

Ride the Trend Higher; Significant End-of-Year Rally Underway $SPX $QQQ $IWM; Four Sector Upgrades ($XLF to overweight, $XLY $XLI and $IYT to...

Vermilion Research

US: Trump Sweep of WH, Senate, House Clears the Way for Growth and Lower Brent

​Trump's re-election strengthens mandate with Republican control of Senate/House. Proposed tax cuts, deregulation to boost economy/equities and...

Prasenjit K. Basu

Trump's re-election strengthens mandate with Republican control of Senate/House. Proposed tax cuts, deregulation to boost economy/equities and...