In today’s briefing:
- MV Global Defense Industry Index Rebalance: Hanwha Systems Added as Stocks Play Offence
- Mitsubishi Electric’s Nozomi Networks Acquisition, a Potential Catalyst
- MarketVector Vietnam Local Index Rebalance: 4 Adds; 9.5% Turnover; US$112m Trade
- Overview #34 – China Rocks On: Bull Market Rules
MV Global Defense Industry Index Rebalance: Hanwha Systems Added as Stocks Play Offence
- Hanwha Systems Co Ltd (272210 KS) will be added to the MarketVector Global Defense Industry Index at the close on 19 September.
- The constituent change, float changes and capping changes result in an estimated one-way turnover of 3.1% resulting in a round-trip trade of US$437m.
- Inflows to the tracking ETF have slowed down but there could be more inflows after a period of consolidation in the underlying stocks.
Mitsubishi Electric’s Nozomi Networks Acquisition, a Potential Catalyst
- Mitsubishi Electric’s $1 billion acquisition of Nozomi Networks is a strategic move to continue its transition from hardware manufacturing to a leading solutions provider in the expanding industrial cybersecurity market.
- This significant deal is expected to create growth and synergy by combining complementary strengths in operational technology (OT) security.
- The acquisition represents a major commitment to digital transformation, which is anticipated to have a positive impact on Mitsubishi Electric’s stock performance in the 5-10 year horizon.
MarketVector Vietnam Local Index Rebalance: 4 Adds; 9.5% Turnover; US$112m Trade
- FPT Corp,Vietnam Airlines Jsc, Sacombank and Gelex Electricity Jsc will be added to the MarketVector Vietnam Local Index at the close on 19 September.
- Estimated one-way turnover is 9.5% and that results in a round-trip trade of US$112m. There are a couple of stocks with more than 1x ADV to buy from passives.
- The largest passive inflow will be in Masan Group (MSN VN) following a large increase in the free float for the stock.
Overview #34 – China Rocks On: Bull Market Rules
- A review of recent events/data impacting our investment themes and outlook
- Change of mindset needed for HK/China as the bull markets broadens out
- Signs of excess are rife in many global markets, but no top yet signalled.
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