Smartkarma Daily Briefs

• On November 28th China Securities Index Co (CSI) announced the changes to the CSI 300 Index (SHSZ300 INDEX): 11 companies added and 11 deleted.
• The complete list of additions and deletions is available here (or see the attachment at the end of this insight for your convenience).
• We analyze our probabilistic models to forecast short-term market directions for the CSI 300 Index, as passive flows between here and December 12 may affect the index volatility and trend.

• Superbank (SUPA IJ) aims to raise around US$184m in its Indonesia IPO.
• Superbank is a digital bank in Indonesia operating through a combination of ecosystem-led distribution and its own standalone mobile application. 
• In this note, we look at its past performance and other deal dynamics that might impact the listing.

• Our GEM bank top picks for 1H 2026 are Banrisul, Bradesco and Ping An Bank for very attractive fundamental valuations with healthy dividends and earnings growth potential
• We also have buy recommendations on China Construction Bank (CCB) and Hana Financial, both of which are deep value plays relative to their returns, combined with sound balance sheets
• Kotak Mahindra bank is our only sell recommendation for its premium valuation, even among Indian banks, relative to its underwhelming ROE prospects

• Japanese banks are entering a new, structurally sound phase driven by the BoJ’s policy pivot, which is fundamentally elevating Net Interest Income and profitability.
• Capital efficiency and mandatory corporate governance reforms are set to significantly close the P/B gap against global peers.
• TOPIX Bank Index could be poised for continued outperformance over the broader market, making it an essential, high-conviction portfolio exposure as 8303 Shinsei returns to the index.

• During the period under consideration, i.e. September 25th, 2025 to October 24th, 2025, the EUR/USD pair exhibited a bearish trend.
• In the beginning, it showed overall a downward slope, until October 14th where the pair indicated an upward trend.
• After that, it fluctuated sideways between MA-10 and MA-20. By the end of the period the price it was slightly lower than the level of September 25th.

• The new ProService Agreement is the dominant feature of year-to-date performance, driving an uplift in revenue and profitability despite subdued market conditions.
• Velocity implementation continues, moving from enabling to growth phases.
• While higher interest costs reduce FY26 estimates, the ProService deal materially enhances expected earnings thereafter, and we have raised our fair value to 61p per share to reflect this.

• Sunway is a leading Malaysian conglomerate with a diversified business model spanning property development, construction, healthcare, and real estate investment, providing multiple revenue streams and resilience.
• Recent performance highlights strong property sales, achieving 86% of the FY25 target, and an improving balance sheet with net gearing reduced to 0.35x. However, 9M25 core net profit fell below expectations due to slower progress billings in the construction segment.
• Forward-looking catalysts include major property launches scheduled for 4Q25 and strategic expansion in the healthcare division to capture growing demand and medical tourism. The construction segment’s growth is supported by a robust order book, particularly in high-tech facilities like data centers.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Key points (machine generated)

• Papanets (9388) is a service company listed on the Fukuoka Stock Exchange Q-Board in March 2025.
• The company supports real estate management firms and related businesses with services like patrol, cleaning, and reporting through its system ‘Jun-kun.’
• Papanets also offers comprehensive interior support, including furniture manufacturing, sales, delivery, and installation.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

• Frasers Property is a geographically diversified real estate company with a significant presence across Singapore, Australia, Europe, and Southeast Asia, operating across residential, retail, commercial, industrial, and hospitality sectors.
• The company is currently trading at a significant discount to its book value, with a Price-to-Book ratio of 0.43, suggesting a potential valuation gap. This is supported by a high Smartkarma Value score of 5/5.
• Recent financial performance indicates headwinds, with both revenue and net income declining in the latest reported year. The company’s growth track record also shows negative trends over 3, 7, and 10-year periods for key metrics like revenue and EPS, signaling underlying challenges.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Key points (machine generated)

• The briefing took place on January 28, 2025, featuring Nobuharu Hattori and investor DAIBOUCHOU.
• The session is part of Urbanet Corporation’s presentation, listed on the Tokyo Stock Exchange in the real estate sector.
• The introduction stresses the importance of reading disclaimers for careful consideration of the information.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.