In today’s briefing:
- Asian Equities: Our Asian Robust Dividend Yield Basket – Revisiting After Sharp Outperformance
- BYD Teams Up With Octopus Energy to Cut EV Charging Costs in the U.K.
- [IO Technicals 2025/30] Iron Ore Rally Cools on Supply Surge, but Policy Hopes Keep Prices Afloat
- MegaRobo Technologies IPO Valuation Analysis: Headed For $1B+ Public Market Debut In Hong Kong
- Lucror Analytics – Morning Views Asia
- Hong Kong Single Stock Options Weekly (July 21–25): Materials and Energy Lead, Option Volumes Surge
Asian Equities: Our Asian Robust Dividend Yield Basket – Revisiting After Sharp Outperformance
- Since inception on February 23, our Robust Dividend Yielders basket has generated 20.3% total return, vs MSCI Asia-ex-Japan’s 11.34%. 10 stocks in our basket of 23 appreciated more than 20%.
- We reconstruct our basket screening all Asian stocks > US$2bn market cap, dividend yield >6% in 2025 and 2026, EPS CAGR > 5% and upward revision to EPS forecasts.
- Our new Dividend Yield basket has 15 stocks, 10 from HK, 3 from onshore China, 1 each from Indonesia and Singapore. Bosideng is the only stock common in both baskets.
BYD Teams Up With Octopus Energy to Cut EV Charging Costs in the U.K.
- Octopus Energy Ltd., Britain’s largest power utility, has partnered with Chinese electric vehicle (EV) giant BYD Co. Ltd. on a service in the U.K. that can help EV owners cut down on charging costs by providing them with a way to supply electricity to the grid.
- The Power Pack Bundle, launched last month, offers customers a leased BYD Dolphin and a special two-way charger that turns the car into a battery that can send electricity back to the grid during peak hours.
- This is one application of the vehicle-to-grid (V2G) system, creating a two-way street for electricity to flow between charging stations and EVs. This allows cars to charge up when power is abundant and provide electricity back into the grid when demand surges.
[IO Technicals 2025/30] Iron Ore Rally Cools on Supply Surge, but Policy Hopes Keep Prices Afloat
- Iron ore futures surged on China’s massive hydropower push, but gains faded as property sector stress lingered.
- Investors are watching the upcoming Politburo meeting for potential action on curbing excess capacity in EV, solar, and lithium battery sectors to support struggling prices.
- Prices are holding firm above key moving averages, pointing to continued upward momentum, while the RSI hints at a potential price correction.
MegaRobo Technologies IPO Valuation Analysis: Headed For $1B+ Public Market Debut In Hong Kong
- MegaRobo Technologies files for Hong Kong IPO and seeks fresh funding to expand production capacity, accelerate R&D efforts and improve working capital.
- The rapidly growing autonomous agent provider in robotics applications in China did not disclose the proposed size and price range for the share sale in filings.
- MegaRobo Technologies is enjoying healthy ~40% growth. I estimate the company’s TAM is ~$4.7B in 2024 and is expected to grow to ~$19B by 2030 only in China.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Sands China
- UST yields rose yesterday, with the curve bear flattening for a second day as the market pared expectations for Fed rate cuts. The yield on the 2Y UST increased by 4 bps to 3.92%, while that on the 10Y UST was up 1 bp at 4.40%.
- Equities closed at fresh record highs, with the S&P 500 and Nasdaq advancing 0.1% and 0.2%, respectively.
Hong Kong Single Stock Options Weekly (July 21–25): Materials and Energy Lead, Option Volumes Surge
- Materials and Energy led the week, with single stocks in both sectors posting standout gains.
- Breadth was broad-based, and average returns among winners were unusually strong.
- Single stock option volumes surged, with pronounced Call activity mid-week.
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