Daily Brief Financials: German Stock Index, Onewo Space-Tech, Ethereum, CIFI Holdings and more

• TTF Dutch gas futures are set to rally off of trendline and price support that will ripple into oil and our DAX short theme.
• Oil saw a lift off the 86 support base on the back of TTF Gas popping higher and prospects of a hard European winter.  
• DAX pressure building to break the 12,400/500 pivot support that would in turn crack noted MACD support. Short theme working. New low target remains at 11,500.

• Onewo Space-Tech (ONEWO HK) aims to raise upto US$2bn in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke (2202 HK). 
• As per Frost & Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.
• In this note, we undertake a peer comparison with some of its larger listed peers.

• The current context is messy. Prices of BTC and ETH slumped twice this year (following the Terra and the Celsius/3AC crises) and show no symptoms of long-lasting recovery (yet).
• Trading volume on top NFT marketplace OpenSea down 99% in USD from May peak, and DeFi is going through an identity crisis after the Tornado Cash case (more on this later), the most notable example of the increasing regulatory pressure coming from a dozen angles.
• And all of this within a backdrop of global financial crisis and stagnation. Suppose you’re not heavily invested in crypto, financially or intellectually.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• Central China Securities
• CIFI Holdings
• Fosun International
• Sino-Ocean Service
• Times China