Deputy Chief Economist

Sharmila Whelan

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Thematic (Sector/Industry)

Japan & south korea / Thematic (Sector/Industry)

Amorepacific Corp (Preferred) (090435 KS)

<p>Don’t be fooled by the strength of Korea’s labour market. It is a mirage created by the government. The Korean economy is headed only one way, which is down. The export downcycle is deepening. Manufacturing is in recession. The profit cycle has gone into reverse. Our advice – sell Korean equities. There are no upsides especially with the won weakening.</p>

Don’t be fooled by the strength of Korea’s labour market. It is a mirage created by the government. The Korean economy is headed only one way, which is down. The export downcycle is deepening. Manufacturing is in recession. The profit cycle has gone into reverse. Our advice – sell Korean equities. There are no upsides especially with the won weakening.

Korea - Deepening Woes