In today’s briefing:
- Deepexi Technology Pre-IPO: Decent Topline Growth But Still Unprofitable
- CSI 300 (SHSZ300) Tactical Outlook: Severe Downside Tail Risk
- Shield or Strategy? EU’s Steel Tariffs Double as a Bargaining Chip with Beijing
- Lucror Analytics – Morning Views Asia
- Iron Ore Faces Renewed Downside Amid Weak Margins and Rising Supply Concerns
Deepexi Technology Pre-IPO: Decent Topline Growth But Still Unprofitable
- Deepexi Technology is looking to raise US$100m in its upcoming Hong Kong IPO.
- Deepexi Tech has demonstrated strong topline growth, with declines in average order value being offset by growth in customers. Despite growth in the topline, the company still remains deeply unprofitable.
- In this note, we look at the company’s past performance.
CSI 300 (SHSZ300) Tactical Outlook: Severe Downside Tail Risk
- The CSI 300 Index (SHSZ300) has began a small correction. Our model has identified the current trend pattern as bearish. The pullback could reach the 4.3k/4.1k support zone.
- These corrections can last up to 4 weeks, but usually they resolve after 2-3 weeks (the index has already closed 1 week down, so there could be 1-2 more weeks).
- According to our model, the key support area is 4300: if the index breaks that support, it can fall quickly to 4100 or 4000. Read detailed tactical analysis in the insight.
Shield or Strategy? EU’s Steel Tariffs Double as a Bargaining Chip with Beijing
- The EU plans to impose 25–50% duties on Chinese steel to protect domestic producers from cheap imports and high decarbonisation costs.
- Analysts expect China’s steel exports to reach 120 million tons, intensifying global overcapacity, pressuring margins, and prompting protectionist responses worldwide.
- EU tariffs on Chinese steel are unlikely to materially impact overall exports but function as strategic leverage, potentially reshaping flows and future negotiations.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: China Jinmao, Longfor Group, Genting Berhad
- The UST curve bull steepened meaningfully yesterday, on haven flows and Fed-easing expectations after credit concerns hit two US regional banks. The yield on the 2Y UST fell 7 bps to 3.43%, while that on the 10Y UST declined 5 bps to 3.98%.
- Equities and risk assets (e.g. bitcoin) slumped following credit fears in the economy, while gold soared above USD 4.3 k/oz. The S&P 500 decreased 0.6% to 6,629, and the Nasdaq dropped 0.5% to 22,563.
Iron Ore Faces Renewed Downside Amid Weak Margins and Rising Supply Concerns
- Iron ore futures recorded a weekly loss as renewed trade tensions and weak mill margins overshadowed a brief post-holiday demand recovery.
- Managed money participants increased their net long positions, reflecting continued confidence in the bullish outlook.
- Demand for higher-grade ore remains subdued as weak mill margins persist, keeping the 65%-62% spread under sustained downward pressure in the near term.
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