Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/1015" target="_blank" data-smartkarma-citation="entities:1015:1">China Telecom (728 HK)</a> reported solid 4Q16 results, with a sharp acceleration in mobile service revenue propelled by strong data trends. Mobile service revenue grew by 11.1% YoY in 4Q, the best growth since 3Q14. We see good traction for China Telecom's 4G offering while pressure on domestic roaming fees seems to have had little impact. Mobile data traffic grew 136% YoY in 4Q with 83% of this being on the 4G network. Data traffic per 4G user rose 39% to 1.36GB/month - solid growth but also…

China Telecom (728 HK) reported solid 4Q16 results, with a sharp acceleration in mobile service revenue propelled by strong data trends. Mobile service revenue grew by 11.1% YoY in 4Q, the best growth since 3Q14. We see good traction for China Telecom's 4G offering while pressure on domestic roaming fees seems to have had little impact. Mobile data traffic grew 136% YoY in 4Q with 83% of this being on the 4G network. Data traffic per 4G user rose 39% to 1.36GB/month - solid growth but also…

China Telecom: Strong Revenue Growth but Higher Network Costs Hit Ebitda. Outlook Remains Positive.

China Unicom Hong Kong / Equity Bottom-Up

At first glance, the latest set of results from <a href="https://www.smartkarma.com/entities/1016" target="_blank" data-smartkarma-citation="entities:1016:1">China Unicom (762 HK)</a> look a bit disappointing as mobile service revenue growth slowed slightly in 4Q16. Our thesis on China Unicom has been to look for a stabilization of trends and a revenue turnaround. That turnaround is taking longer than expected.  On the plus side, there is evidence of better traction with subscribers while the focus on profitability and falling capex suggests a substantial improvement in returns is unfolding. Slight slowdown…

At first glance, the latest set of results from China Unicom (762 HK) look a bit disappointing as mobile service revenue growth slowed slightly in 4Q16. Our thesis on China Unicom has been to look for a stabilization of trends and a revenue turnaround. That turnaround is taking longer than expected.  On the plus side, there is evidence of better traction with subscribers while the focus on profitability and falling capex suggests a substantial improvement in returns is unfolding. Slight slowdown…

China Unicom (762 HK): Clear Focus on Improved Returns as Capex Burden Eases.

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

China Unicom Hong Kong / Technical Analysis

We remain bullish H shares in Hong Kong and looking for rotation plays and China Unicom stands out (as does China Mobile) given the bullish breakout of the price and MACD triangulation. After basing China Unicom is positioned to rally to 11.80 after a possible breakout test and backfill.MACD triangle patterns tend to be the most powerful of patterns that often result in an explosive move out of the range. Thursday and Friday's price action is a following this rule.10.0 is noted support on a…

We remain bullish H shares in Hong Kong and looking for rotation plays and China Unicom stands out (as does China Mobile) given the bullish breakout of the price and MACD triangulation. After basing China Unicom is positioned to rally to 11.80 after a possible breakout test and backfill.MACD triangle patterns tend to be the most powerful of patterns that often result in an explosive move out of the range. Thursday and Friday's price action is a following this rule.10.0 is noted support on a…

Thematic (Sector/Industry)

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized wireless capacity, the transition around 2020 to 5G looks increasingly likely to be smooth for many operators, with little impact on capex or revenue trajectories. 5G does not change the key economics of network densification. Where these are good, 5G will thrive. Where they are poor, 5G deployment will be slower. Only in markets with strong asymmetry…

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized wireless capacity, the transition around 2020 to 5G looks increasingly likely to be smooth for many operators, with little impact on capex or revenue trajectories. 5G does not change the key economics of network densification. Where these are good, 5G will thrive. Where they are poor, 5G deployment will be slower. Only in markets with strong asymmetry…

Report from Mobile World Congress: The Transition to 5G Comes into Focus.

We met with the Chinese telco operators before Christmas and our comments are summarized below. As a general comment, the meetings did not change our previously held views - we continue to have a preference for <a href="https://www.smartkarma.com/entities/1016" target="_blank" data-smartkarma-citation="entities:1016:1">China Unicom (762 HK)</a> which remains a turnaround story and where the increased competitive intensity confirms its ambitions to see a continued turnaround in revenues. <a href="https://www.smartkarma.com/entities/1015" target="_blank" data-smartkarma-citation="entities:1015:1">China Telecom (728 HK)</a> remains an attractive story, with a stable, successful strategy allowing it to continue to…

We met with the Chinese telco operators before Christmas and our comments are summarized below. As a general comment, the meetings did not change our previously held views - we continue to have a preference for China Unicom (762 HK) which remains a turnaround story and where the increased competitive intensity confirms its ambitions to see a continued turnaround in revenues. China Telecom (728 HK) remains an attractive story, with a stable, successful strategy allowing it to continue to…

Recent Meetings with the Chinese Telcos: Preference for China Unicom Retained

Hong Kong

China Unicom (Hong Kong) Limited, through its subsidiaries, provides telecommunications services in the People's Republic of China.  The Company's services include cellular, paging, long distance, data, and Internet services.

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China Unicom Hong Kong (762 HK)

China Telecom: Strong Revenue Growth but Higher Network Costs Hit Ebitda. Outlook Remains Positive.

China Telecom (728 HK) reported solid 4Q16 results, with a sharp acceleration in mobile service revenue propelled by strong data trends. Mobile...

New Street Research

China Unicom (762 HK): Clear Focus on Improved Returns as Capex Burden Eases.

At first glance, the latest set of results from China Unicom (762 HK) look a bit disappointing as mobile service revenue growth slowed slightly in...

New Street Research

China Unicom Breakout

We remain bullish H shares in Hong Kong and looking for rotation plays and China Unicom stands out (as does China Mobile) given the bullish...

Thomas Schroeder

Report from Mobile World Congress: The Transition to 5G Comes into Focus.

New Street Research attended this year's Mobile World Congress in Barcelona recently. While the move to 5G will bring huge increases in localized...

New Street Research

Recent Meetings with the Chinese Telcos: Preference for China Unicom Retained

We met with the Chinese telco operators before Christmas and our comments are summarized below. As a general comment, the meetings did not change...

New Street Research

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