In today’s briefing:
- Top 80 Companies in Korea by Short Interest and Days to Cover (Potential Short Squeeze Candidates)
- 4 Reasons to Be Cautious About the ZBT Buy Signal
- An American EM Crisis?
- Copper Tracker 28th April 2025: A Huge Positive From The China March Lending Data
- Iron Ore Tracker (28-Apr-2025): Iron Ore Within The Band, China Lending Data To The Rescue
Top 80 Companies in Korea by Short Interest and Days to Cover (Potential Short Squeeze Candidates)
- In this insight, we discuss potential short squeeze opportunities in the Korean stock market, using short interest and days to cover as main screening tools.
- In KOSPI, the top three stocks with highest combination of short interest and days to cover include Doosan Fuel Cell, Posco Future M, and Hotel Shilla.
- In this insight, we provided 80 companies (40 companies in KOSPI and KOSDAQ, respectively) that have high combination of short interest and days to cover ratios.
4 Reasons to Be Cautious About the ZBT Buy Signal
- Last week’s Zweig Breadth Thrust buy signal gave investors reasons to be bullish on stocks, but we beg to differ.
- Uncertainty remains high and we struggle to outline a clear intermediate-term bull case for stocks.
- Moreover, hard activity-based data is poised to converge toward the soft weak survey-based data in the coming weeks, which has not been fully discounted by the market.
An American EM Crisis?
- Confidence in the USD and Treasury assets is being eroded.
- The U.S. faces stagflation and elevated recession risk in the next 12–18 months.
- While investors usually hedge slow growth outcomes by holding USD and Treasuries, they would be better served by holding high-quality non-USD sovereign bonds and gold.
Copper Tracker 28th April 2025: A Huge Positive From The China March Lending Data
- China’s Total Social Financing (TSF) saw a 22% YoY rise, reaching 5.89 trillion yuan, surpassing the expected 4.8 trillion yuan and boosting optimism for preemptive stimulus measures.
- COMEX spreads rose above 1200 USD/ton, while Yangshan premiums climbed to 90 USD/ton, reinforcing our positive outlook on copper prices.
- Positive Q1 FY25 results from Southern Copper (SCCO US), First Quantum Minerals (FM CN), and Antofagasta PLC (ANTO LN)‘s positive production update have set the tone for a bullish copper outlook.
Iron Ore Tracker (28-Apr-2025): Iron Ore Within The Band, China Lending Data To The Rescue
- Iron ore prices experienced a modest WoW increase of 0.2%, reflecting easing trade tensions as the US considers reducing some of the stringent tariffs previously imposed.
- China’s Total Social Financing (TSF) increased by 22% YoY, reaching 5.89 trillion yuan, surpassing the expected 4.8 trillion yuan and boosting optimism for preemptive stimulus measures.
- China’s March steel production rose 5% YoY to 92.8 million tons, underscoring its vital role in the market, contributing 56% to total global production.
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