Daily BriefsMacro

Daily Brief Macro: The Week That Was in [email protected] – Semen Indonesia Solid and more

In today’s briefing:

  • The Week That Was in [email protected]rtkarma – Semen Indonesia Solid, Kalbe for Longer, and CPALL’s Ticking
  • China’s Fledgling Pensions Market: Are You Positioned to Cash In?
  • The Commodity Report #87

The Week That Was in [email protected] – Semen Indonesia Solid, Kalbe for Longer, and CPALL’s Ticking

By Angus Mackintosh

  • The Week That Was in [email protected] is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia. 
  • The Past week saw insights on Semen Indonesia (SMGR IJ), Kalbe Farma (KLBF IJ), CP ALL PCL (CPALL TB), as well as an initial view on Pertamina Geothermal’s IPO.
  • In addition, there was commentary South East Asia’s Food Delivery business plus Olam Group (OLG SP)‘s plans to unlock value through an IPO of Olam Agri, and a lot more. 

China’s Fledgling Pensions Market: Are You Positioned to Cash In?

By Stanley Tsai, CFA

  • The recent rollout of a tax-deferred individual pension scheme marks a pivotal moment in the country’s preparation for seismic shifts in its demographics.
  • The transition towards Pillar 3 of the retirement system has important implications for global asset allocators’ long-term China investment thesis.
  • It’s still early days, but there are ways to participate in the growth of private pensions. We look at the scale of the opportunities available and the potential beneficiaries.

The Commodity Report #87

By The Commodity Report

  • Sentiment is very important when it comes to trading any financial asset. In terms of commodities, Goldman Sachs seems to be still a bit too optimistic for me.
  • This year has started with a pullback in prices driven by warm weather shock and rising interest rates, Jeff Currie, the head of commodities at the investment bank, said at a presentation in London on Monday.
  • But demand in China starting to rebound and there’s insufficient investment in supply, meaning the year as a whole will be a “Goldilocks” moment for rising prices, he said. 

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