Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>Welcome to the “Week at a Glance,” where we examine the key releases and themes for the week ahead through the lens of macro trading.</li><li>China has reduced the 7-day repo rate by 10 basis points, following up with a cut in the loan prime rate.</li><li>This move mirrors the strategy from June 13, 2023.</li></ul>

Welcome to the “Week at a Glance,” where we examine the key releases and themes for the week ahead through the lens of macro trading.China has reduced the 7-day repo rate by 10 basis points, following up with a cut in the loan prime rate.This move mirrors the strategy from June 13, 2023.

The Week At Glance: A look at US Cycle indicators. You sure consensus is right?

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/ciputra-development-tbk-pt" target="_blank" data-smartkarma-citation="entities:5513:1" rel="noopener">Ciputra Development (CTRA IJ)</a>, <a href="https://www.smartkarma.com/entities/dci-indonesia-tbk-pt" target="_blank" data-smartkarma-citation="entities:33592:1" rel="noopener">DCI Indonesia (DCII IJ)</a>, <a href="https://www.smartkarma.com/entities/arwana-citramulia-tbk-pt" target="_blank" data-smartkarma-citation="entities:17042:1" rel="noopener">Arwana Citramulia (ARNA IJ)</a>, <a href="https://www.smartkarma.com/entities/thai-beverage-pcl" target="_blank" data-smartkarma-citation="entities:3656:1" rel="noopener">Thai Beverage (THBEV SP)</a>, and <a href="https://www.smartkarma.com/entities/gulf-energy-development-pcl" target="_blank" data-smartkarma-citation="entities:26038:1" rel="noopener">Gulf Energy Development (GULF TB)</a>.</li>
<li>There were also macro insights on Malaysian Politics and the Indonesian economy together with CrossASEAN Ground Zero which looks at the changing dynamics of commerce, <a href="https://www.smartkarma.com/entities/vinfast-auto-ltd" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">Vinfast (VFS US)</a>, and <a href="https://www.smartkarma.com/entities/grab-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26950:1" rel="noopener">Grab</a>.</li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The past week saw insights on Ciputra Development (CTRA IJ), DCI Indonesia (DCII IJ), Arwana Citramulia (ARNA IJ), Thai Beverage (THBEV SP), and Gulf Energy Development (GULF TB).
There were also macro insights on Malaysian Politics and the Indonesian economy together with CrossASEAN Ground Zero which looks at the changing dynamics of commerce, Vinfast (VFS US), and Grab.
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - Ciputra Development, Arwana's Catalyst, and Thai Beverage.

Political Analyst, Heteronomics

Alastair Newton

Political Analyst

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

<ul><li>Donald Trump's running mate, JD Vance, discussed economic policy during his nomination speech.</li><li>Further investigation provides some insight into what these policies might look like in practice.</li><li>However, understanding the specifics of a potential 'Trump Trade' policy remains difficult.</li></ul>

Donald Trump's running mate, JD Vance, discussed economic policy during his nomination speech.Further investigation provides some insight into what these policies might look like in practice.However, understanding the specifics of a potential 'Trump Trade' policy remains difficult.

Asia Economist and CEO, Centennial Asia Advisors

Manu Bhaskaran

Asia Economist and CEO

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

<ul>
<li>Malaysia’s strong GDP growth in 2Q24 was driven by a broad-based recovery across major economic sectors, with manufacturing making a turnaround after a difficult 2023. </li>
<li>The labour market, domestic demand, and external sector indicators also bode well for the country's growth prospects for the remainder of the year. </li>
<li>Pending the release of the confirmed GDP figures, we expect full-year growth of around 4.8%, up 25bps from our previous view. </li>
</ul>


Malaysia’s strong GDP growth in 2Q24 was driven by a broad-based recovery across major economic sectors, with manufacturing making a turnaround after a difficult 2023. 
The labour market, domestic demand, and external sector indicators also bode well for the country's growth prospects for the remainder of the year. 
Pending the release of the confirmed GDP figures, we expect full-year growth of around 4.8%, up 25bps from our previous view. 


Malaysia Economics: Comeback with Strong 2Q24 GDP Growth

Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Founder & Head of Research

Fortress Hill Advisors

Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

Premium Economic & Investment Research

<ul>
<li>Ever since the Hang Seng touches new high of 32,601 in February 2018, it has trended down  to 17,417 on latest trading day.</li>
<li>Whether it can touch new high again depending on the revision of Mainland authorities' policy towards big private enterprises and China's future growth rate</li>
<li>Local drivers such as Hong Kong GDP growth also play surprisingly important role in the performance of Hang Seng Index.</li>
</ul>


Ever since the Hang Seng touches new high of 32,601 in February 2018, it has trended down  to 17,417 on latest trading day.
Whether it can touch new high again depending on the revision of Mainland authorities' policy towards big private enterprises and China's future growth rate
Local drivers such as Hong Kong GDP growth also play surprisingly important role in the performance of Hang Seng Index.


Will the Hong Kong Stock Market Ever Return to Previous Height?