In today’s briefing:
- Index Rebalance & ETF Flow Recap: MSCI, S&P/ASX, STI, Sensex, Kotak Bank, SMM/KEP O&M, LIC
- DXY Above 104 Would Be a Game Changer
- Life Insurance Corporation of India: Update on LIC’s Pre-IPO ESG Ratings and Message
Index Rebalance & ETF Flow Recap: MSCI, S&P/ASX, STI, Sensex, Kotak Bank, SMM/KEP O&M, LIC
- Last Friday was the last day of the review period for the MSCI May SAIR, Shanghai Shenzhen CSI 300 Index, STAR50 INDEX, KOSPI2 INDEX, KOSDAQ 150 Index and SENSEX INDEX.
- We expect Yangzijiang Financial Holding (YZJFH SP) will be deleted from the FTSE Straits Times Index (STI) (STI INDEX) at the close on 4 May.
- ETFs focused on China, Taiwan and Hong Kong had inflows during the week while there were outflows on Korea focused ETFs.
DXY Above 104 Would Be a Game Changer
- USD met rally targets across the board versus majors and in Asia. DXY is at a key crossroad with 104 and 102 pivotal break points that will define direction.
- Sequence favors a dip (DXY 102 pivot) and re test of the 103+ zone with 104 the bigger break level. Weak below 102 (short signal).
- DXY weekly cycle kissing major triple high zone and a key crossroad.
Life Insurance Corporation of India: Update on LIC’s Pre-IPO ESG Ratings and Message
- Several months ago, I published two Insights addressing aspects of the impending IPO of Life Insurance Corporation of India (1248Z IN) from several specific ESG perspectives.
- More specifically, they addressed: 1) LIC’s pursuit of pre-IPO ESG ratings, and 2) the decidedly weak (almost non-existent) ESG messaging in the Draft Red Herring Prospectus.
- I promised an update as the IPO drew closer. Unfortunately, no pre-IPO ESG ratings yet and the same generic pre-IPO message… but at this stage, none of that really matters.
Before it’s here, it’s on Smartkarma
