New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Thematic (Sector/Industry)

<ul><li>Residential consents have been remarkably stable over the past two years in the 30–35k range (seasonally adjusted, annualised), with July at the upper end of this range.</li><li>The value and floor area of non-residential consents (12-month rolling) increased for the first time in 18 and 32 months respectively.</li><li>Vulcan Steel (VSL) and Steel &amp; Tube (STU) both expect another soft six-month period to finish 2025, before a pickup in activity in 2026.</li></ul>

Residential consents have been remarkably stable over the past two years in the 30–35k range (seasonally adjusted, annualised), with July at the upper end of this range.The value and floor area of non-residential consents (12-month rolling) increased for the first time in 18 and 32 months respectively.Vulcan Steel (VSL) and Steel &amp; Tube (STU) both expect another soft six-month period to finish 2025, before a pickup in activity in 2026.

<ul><li>After a stable start to the year, ready-mix concrete production (RMC) fell in the June 2025 quarter, with volumes -6% below the March quarter (on a seasonally adjusted basis) and -10% on the prior year.</li><li>FBU has started to release quarterly volume data, which include Firth ready-mix concrete volumes.</li><li>Vulcan Steel (VSL) recently outlined its initial expectations for steel volumes in FY26.</li></ul>

After a stable start to the year, ready-mix concrete production (RMC) fell in the June 2025 quarter, with volumes -6% below the March quarter (on a seasonally adjusted basis) and -10% on the prior year.FBU has started to release quarterly volume data, which include Firth ready-mix concrete volumes.Vulcan Steel (VSL) recently outlined its initial expectations for steel volumes in FY26.

Building Sector Ready-Mix Concrete—2Q Blues

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 changes in short interest of ASX Stocks as of Sep 4th (reported today). The aggregated short interest was USD51.0bn.</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 CAR, Cochlear, Predictive Discovery, Sonic Healthcare, Qantas Airways.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Sep 4th (reported today). The aggregated short interest was USD51.0bn.
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 CAR, Cochlear, Predictive Discovery, Sonic Healthcare, Qantas Airways.


ASX Short Interest Weekly (Sep 4th): CAR, Cochlear, Predictive Discovery, Sonic Healthcare

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Aug 28th (reported today). The aggregated short interest was USD50.8bn.</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 Steadfast, Brambles, Worley, Transurban, Charter Hall.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 28th (reported today). The aggregated short interest was USD50.8bn.
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 Steadfast, Brambles, Worley, Transurban, Charter Hall.


ASX Short Interest Weekly (Aug 28th): Steadfast, Brambles, Worley, Transurban, Charter Hall

<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

Australia

Vulcan Steel Ltd operates as a metals distributing and processing company. The Company offers stainless and engineering steel products. Vulcan Steel serves customers in Australia and New Zealand.

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Vulcan Steel (VSL AU)

Building Sector NZ Consents—Stable

Residential consents have been remarkably stable over the past two years in the 30–35k range (seasonally adjusted, annualised), with July at the...

Forsyth Barr

Building Sector Ready-Mix Concrete—2Q Blues

FBU has started to release quarterly volume data, which include Firth ready-mix concrete volumes. Vulcan Steel (VSL) recently outlined its initial...

Forsyth Barr

ASX Short Interest Weekly (Sep 4th): CAR, Cochlear, Predictive Discovery, Sonic Healthcare

We analyzed ASX short interest report for the past week and highlight short interest changes in CAR, Cochlear, Predictive Discovery, Sonic...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Aug 28th): Steadfast, Brambles, Worley, Transurban, Charter Hall

We analyzed ASX short interest report for the past week and highlight short interest changes in Steadfast, Brambles, Worley, Transurban, Charter Hall.

Ke Yan, CFA, FRM

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)