Amareos

Ryan Shea

Thematic (Sector/Industry)

2016's "Political Kill" season continues, making this year one of the most toxic for incumbent politicians we can ever recall.Monday saw Italian PM Renzi announce his resignation following the crushing defeat of his constitutional-reform-turned-personal-confidence-vote referendum; an outcome clearly flagged by our crowd-sourced sentiment indicators as outlined in an earlier Market Sentimentalist Insight.However, Renzi is not the only political leader whose time in office appears to be drawing to a close. South Korea’s President Park Geun-hye is facing an impeachment vote in parliament this Friday, having failed to pacify her critics with her pledge to step-down in April. The scandal has led to a surge in social unrest and contributed to South Korea being the crowd’s “most-hated” country.Such strong emotions are reminiscent of what we observed last December in Brazil, when President Rousseff also faced impeachment proceedings. Back then this extreme crowd negativity proved to be a very prescient contrarian buy-signal for Brazilian equities. Is the same now true of South Korean equities? Is Mr. Market again offering investors an early Christmas present?

2016's "Political Kill" season continues, making this year one of the most toxic for incumbent politicians we can ever recall.Monday saw Italian PM Renzi announce his resignation following the crushing defeat of his constitutional-reform-turned-personal-confidence-vote referendum; an outcome clearly flagged by our crowd-sourced sentiment indicators as outlined in an earlier Market Sentimentalist Insight.However, Renzi is not the only political leader whose time in office appears to be drawing to a close. South Korea’s President Park Geun-hye is facing an impeachment vote in parliament this Friday, having failed to pacify her critics with her pledge to step-down in April. The scandal has led to a surge in social unrest and contributed to South Korea being the crowd’s “most-hated” country.Such strong emotions are reminiscent of what we observed last December in Brazil, when President Rousseff also faced impeachment proceedings. Back then this extreme crowd negativity proved to be a very prescient contrarian buy-signal for Brazilian equities. Is the same now true of South Korean equities? Is Mr. Market again offering investors an early Christmas present?

The Market Sentimentalist: Political Kill

Public Relations and Social Media Manager, Dechert LLP

Peggy Heffner

Public Relations and Social Media Manager

Dechert is a global specialist law firm

Dechert LLP

Dechert is a global specialist law firm.
Focused on sectors with the greatest complexities, legal intricacies and highest regulatory demands, we excel in delivering practical commercial judgment and deep legal expertise for high-stakes matters.

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In an increasingly challenging environment, clients look to us to serve them in ways that are faster, sharper and leaner without compromising excellence. We developed a first-of-its kind legal project management department, which uses technology, people and processes to drive efficiency and deliver value for our clients.

We are innovators. Dechert ranked #7 in the Financial Times’ Top North American Innovative Law Firms. Financial Times also recognizes us among the Top European Innovative Law Firms and highly commends World Compass, our marketing compliance service, which offers investment firms advice in more than 100 jurisdictions.

The Securities and Futures Commission of Hong Kong (SFC) and the China Securities Regulatory Commission (CSRC) issued a joint announcement on 25 November 2016 approving the launch of the long-awaited Shenzhen-Hong Kong Stock Connect and trading commenced this week on 5 December 2016. This supplements the prior joint official announcement made by the SFC and the CSRC in August 2016.

The Securities and Futures Commission of Hong Kong (SFC) and the China Securities Regulatory Commission (CSRC) issued a joint announcement on 25 November 2016 approving the launch of the long-awaited Shenzhen-Hong Kong Stock Connect and trading commenced this week on 5 December 2016. This supplements the prior joint official announcement made by the SFC and the CSRC in August 2016.

The Shenzhen–Hong Kong Stock Connect. A Legal Update from Dechert's Financial Services Group

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

Macroeconomics

<ul><li>Global inflation has been muted over the past two years as a combination of factors curbed the upward march of price levels worldwide; yet these headwinds to inflationary pressures are dissipating.</li><li>We examine a number of metrics used to determine inflationary pressures and use them to help us understand the countries in which price levels could rise unexpectedly or faster than expected.</li><li>In summary, upside surprises to inflation are likely to be seen in China, Taiwan, Indonesia and Malaysia.</li></ul>

Global inflation has been muted over the past two years as a combination of factors curbed the upward march of price levels worldwide; yet these headwinds to inflationary pressures are dissipating.We examine a number of metrics used to determine inflationary pressures and use them to help us understand the countries in which price levels could rise unexpectedly or faster than expected.In summary, upside surprises to inflation are likely to be seen in China, Taiwan, Indonesia and Malaysia.

Inflation Outlook: Watch for Upside Surprises in Asia

A confluence of recent global developments calls for a re-examination of Asia's outlook. The following factors will largely determine the outlook for Asian economic growth:Gathering recovery in global demand: The global economy is gaining momentum, and showing signs of rising trade intensity that will boost external demand for Asian exporters. Furthermore, the easing of deflationary pressures is helping trade values to recover. A sustained recovery in global demand for Asian exports would be…

A confluence of recent global developments calls for a re-examination of Asia's outlook. The following factors will largely determine the outlook for Asian economic growth:Gathering recovery in global demand: The global economy is gaining momentum, and showing signs of rising trade intensity that will boost external demand for Asian exporters. Furthermore, the easing of deflationary pressures is helping trade values to recover. A sustained recovery in global demand for Asian exports would be…

How Have Risks for Asia Changed Recently?

Economist, Centennial Asia Advisors

Jason Tan

Economist

<ul>
<li>
China issues extraordinary ruling: On 7 Nov, China’s National People’s Congress Standing Committee passed an interpretation of Hong Kong’s Basic Law ruling that lawmakers must be “sincere” and read the prescribed oath of office “completely, accurately and solemnly”. This effectively disqualifies Localist lawmakers Sixtus Baggio Leung and Yau Wai Ching from office. A further 15 Hong Kong lawmakers could be at risk of losing their seats due to “insincere oath taking”.</li>
<li>
National security law looms…</li>
</ul>



China issues extraordinary ruling: On 7 Nov, China’s National People’s Congress Standing Committee passed an interpretation of Hong Kong’s Basic Law ruling that lawmakers must be “sincere” and read the prescribed oath of office “completely, accurately and solemnly”. This effectively disqualifies Localist lawmakers Sixtus Baggio Leung and Yau Wai Ching from office. A further 15 Hong Kong lawmakers could be at risk of losing their seats due to “insincere oath taking”.

National security law looms…


Hong Kong

Hang Seng Investment Index Funds Series - Hang Seng China Enterprises Index ETF is an exchange-traded fund established in Hong Kong.  The Fund's objective is to  provide investment returns that match the performance of the Hang Seng China En terprisesIndex (H-Share Index).  The Fund invests in constituent stocks of the H -Share Index.

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Hang Seng H Share Index ETF (2828 HK)

The Market Sentimentalist: Political Kill

2016's "Political Kill" season continues, making this year one of the most toxic for incumbent politicians we can ever recall.Monday saw Italian PM...

Amareos

The Shenzhen–Hong Kong Stock Connect. A Legal Update from Dechert's Financial Services Group

The Securities and Futures Commission of Hong Kong (SFC) and the China Securities Regulatory Commission (CSRC) issued a joint announcement on 25...

Dechert LLP

Inflation Outlook: Watch for Upside Surprises in Asia

Global inflation has been muted over the past two years as a combination of factors curbed the upward march of price levels worldwide; yet these...

Manu Bhaskaran

How Have Risks for Asia Changed Recently?

A confluence of recent global developments calls for a re-examination of Asia's outlook. The following factors will largely determine the outlook...

Manu Bhaskaran

China's the Boss in Hong Kong

China issues extraordinary ruling: On 7 Nov, China’s National People’s Congress Standing Committee passed an interpretation of Hong Kong’s Basic...

Jason Tan

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