Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Thematic (Sector/Industry)

<ul>
<li>The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.</li>
<li>
 Macro data points: Chinese GDP growth, retail sales, and industrial production, Indian inflation data, and Malaysian GDO growth.</li>
<li>
 Companies mentioned:<a href="https://www.smartkarma.com/entities/kakao-corp" target="_blank" data-smartkarma-citation="entities:15002:1" rel="noopener">Kakao Corp (035720 KS)</a>, <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>
</li>
</ul>


The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.

 Macro data points: Chinese GDP growth, retail sales, and industrial production, Indian inflation data, and Malaysian GDO growth.

 Companies mentioned:Kakao Corp (035720 KS), Samsung Electronics (005930 KS)



GEMWeekly (19 Jul 2024): China’s Third Plenum; India, Malaysia Macro; Kakao, Samsung Electronics

Investment Research - Asia Consumer Sector, Investory

Devi Subhakesan

Investment Research - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a>'s smartphone shipments to India surged in Q2 2024, reclaiming the top spot, while Samsung slipped to third.</li>
<li>Consumer discretionary sales, including smartphones, were weak during the quarter due to elections, subdued demand, and extreme weather.</li>
<li>The upcoming festive season is crucial for sales, with customers anticipating new launches and better bargains. 5G device upgrades continue to drive growth in 2024.</li>
</ul>



Xiaomi Corp (1810 HK)'s smartphone shipments to India surged in Q2 2024, reclaiming the top spot, while Samsung slipped to third.
Consumer discretionary sales, including smartphones, were weak during the quarter due to elections, subdued demand, and extreme weather.
The upcoming festive season is crucial for sales, with customers anticipating new launches and better bargains. 5G device upgrades continue to drive growth in 2024.


Xiaomi Corp (1810 HK): Tops India Smartphone Market; Samsung Falls to Third

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jul 19th which has an aggregated holding worth USD563.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD350mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in Samsung Heavy In, Sk Hynix, Samsung Electronics, Doosan Bobcat.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jul 19th which has an aggregated holding worth USD563.2bn.
We estimate that foreign flows to be outflows of USD350mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Samsung Heavy In, Sk Hynix, Samsung Electronics, Doosan Bobcat.


KRX Foreign Holding Weekly (Jul 19th): Samsung Heavy In, Samsung Electronics, Doosan Bobcat

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>Korean stock market ranked #1 in net inflow of foreign funds among emerging Asian countries so far in 2024.</li>
<li>There has been a net inflow of US$19.4 billion into Korea this year, more than the inflow into China (US$4.9 billion), Taiwan (US$3.6 billion), and India (US$2.0 billion) combined. </li>
<li>Three major factors impacting higher foreign capital inflow into Korean stock market this year included Corporate Value Up program, turnaround of DRAM/semiconductor sector, and political uncertainties in China and India. </li>
</ul>


Korean stock market ranked #1 in net inflow of foreign funds among emerging Asian countries so far in 2024.
There has been a net inflow of US$19.4 billion into Korea this year, more than the inflow into China (US$4.9 billion), Taiwan (US$3.6 billion), and India (US$2.0 billion) combined. 
Three major factors impacting higher foreign capital inflow into Korean stock market this year included Corporate Value Up program, turnaround of DRAM/semiconductor sector, and political uncertainties in China and India. 


Korean Stock Market Ranks #1 in Net Inflow of Foreign Funds Among Emerging Asian Countries in 2024

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jul 12th which has an aggregated short interest worth USD6.1bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Samsung Electronics (005930 KS) , Posco (005490 KS) .</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jul 12th which has an aggregated short interest worth USD6.1bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Samsung Electronics (005930 KS) , Posco (005490 KS) .


KRX Short Interest Weekly (Jul 12th): Samsung Electronics, Posco

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

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Samsung Electronics (005930 KS)

GEMWeekly (19 Jul 2024): China’s Third Plenum; India, Malaysia Macro; Kakao, Samsung Electronics

The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global...

Wium Malan, CFA

Xiaomi Corp (1810 HK): Tops India Smartphone Market; Samsung Falls to Third

Xiaomi makes a strong comeback as the leading player in the Indian smartphone market after a 6-quarter hiatus due to regulatory and other...

Devi Subhakesan

KRX Foreign Holding Weekly (Jul 19th): Samsung Heavy In, Samsung Electronics, Doosan Bobcat

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Heavy In, Sk Hynix, Samsung Electronics,...

Ke Yan, CFA, FRM

Korean Stock Market Ranks #1 in Net Inflow of Foreign Funds Among Emerging Asian Countries in 2024

Korean stock market ranked #1 in net inflow of foreign funds among emerging Asian countries so far in 2024. There has been a net inflow of US$19.4...

Douglas Kim

KRX Short Interest Weekly (Jul 12th): Samsung Electronics, Posco

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Posco.

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)