In today’s briefing:
- Invest As If the Lows Are In; EURO STOXX 50 and TOPIX Reclaim Key Levels
- Mexican Banks – Looking Beyond Trump Policies, We See Value in Smaller Caps
- Singapore Stocks Most Net Bought by Institutions in April
- HIT: Newly Formed Advisory Board and Advisor With Extensive Public Affairs Experience Appear Timely
- Kobo Resources Inc – Mining Monthly: April Edition
Invest As If the Lows Are In; EURO STOXX 50 and TOPIX Reclaim Key Levels
- We remain near-term bullish since our 4/22/25 Compass when we discussed SPX 5110-5120 as a bounce spot and a level to trade [long] against.
- Possible that major lows are in at 4800-4820 SPX and $402-$412 on the Nasdaq 100 (QQQ), as discussed in 4/10/25 Int’l Compass. For now we want to remain near-term bullish
- 200-Day MAs on ACWI-US and SPX are spots where they could roll over. This is just a lean; if we see no reason to sell at those levels, we won’t.
Mexican Banks – Looking Beyond Trump Policies, We See Value in Smaller Caps
- Aside from Trump’s tariff policies, Mexican banks are under pressure from government to deliver on more competitive lending rates, with fintech challengers Nubank and MercadoLibre’s MercadoPago gaining traction in Mexico
- Despite these challenges, 1Q25 results were sound and the bank sector participated in Mexican bolsa rally in April; yet we believe there is selective attractive value there
- We apply our scorecard – which assesses balance sheet strength, returns, credit quality and valuations – that is weighted to arrive at our investment picks; BanBajio and BanRegio stand out
Singapore Stocks Most Net Bought by Institutions in April
- Institutions net sold S$73M in Singapore stocks, with STI Banks experiencing S$701M in net institutional outflow in April.
- Singtel recorded the highest net institutional inflow, with the Telecommunications Sector booking S$522M net inflow in April.
- REITs saw S$74M net institutional outflow, but Frasers Centrepoint Trust led net inflow relative to market cap.
HIT: Newly Formed Advisory Board and Advisor With Extensive Public Affairs Experience Appear Timely
- As HIT continues to expand services and enhance its platform, the company aims to broaden its target market, as it believes that organizations of all sizes can benefit from its AI-driven technology platform, which is designed to streamline and facilitate the process of researching and obtaining healthcare insurance.
- HIT began development of a large-group third-party AI-powered underwriting solutions for mid-sized and larger businesses and, in 1Q25, delivered solutions to large employers, including one that employs 1k+ people.
Kobo Resources Inc – Mining Monthly: April Edition
- What you need to know: • The metals and mining market showed a fourth straight month of strong gains in April on the back of the escalating trade tensions.
- • In April, gold was up 5.6%, silver was down 4.2%, and copper was down 9.6%.
- The equities outperformed the commodities, with the GDX up 6.5%, GDXJ up 7.3%, and SIL up 3.3%.
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