Silver Point

Thomas J. Monaco

Independent Insight Provider

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Thematic (Sector/Industry)

* Circular 46 enabling the CBRC to properly do its job, as Shanghai Pudong Development Bank  - the first of many high profile names - gets exposed for aggressive accounting.  * HNA, China Wanda, and Anbang Insurance monkey business also expose numerous shenanigans in the corporate sector as well.<h2>Summary</h2>The appointment of Guo Shuqing to head the China Bank Regulatory Commission (CBRC) was a clear sign that the mainland Chinese authorities are intent on cleaning up some of the excesses within the…

* Circular 46 enabling the CBRC to properly do its job, as Shanghai Pudong Development Bank  - the first of many high profile names - gets exposed for aggressive accounting.  * HNA, China Wanda, and Anbang Insurance monkey business also expose numerous shenanigans in the corporate sector as well.SummaryThe appointment of Guo Shuqing to head the China Bank Regulatory Commission (CBRC) was a clear sign that the mainland Chinese authorities are intent on cleaning up some of the excesses within the…

China Banks – Questionable Accounting Practices Exposed

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Agricultural Bank Of China / Event-Driven

This is a new H/A Spread monitor project offering a brief look at recent changes in H-Share and A-Share spreads, Southbound flow and impact, and where the spreads are trading within their own historical ranges.
Main notes this week are:
<ul>
<li>HK$13.5bn of net buying by Southbound flows, which was 1.46% of HKEx Turnover - about in line with the previous four full weeks of trading. </li>
<li>Net buying since the last net selling day has been HK$48.8bn, which is not an unusual streak. </li>
<li>Southbound flows in the…</li>
</ul>

This is a new H/A Spread monitor project offering a brief look at recent changes in H-Share and A-Share spreads, Southbound flow and impact, and where the spreads are trading within their own historical ranges.
Main notes this week are:

HK$13.5bn of net buying by Southbound flows, which was 1.46% of HKEx Turnover - about in line with the previous four full weeks of trading. 
Net buying since the last net selling day has been HK$48.8bn, which is not an unusual streak. 
Southbound flows in the…


Quiddity Weekly H/A: Discounts & Southbound Flows 20180126

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts.  What is clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE’s 20-year chart (below) reveals an in-progress trend reversal (which developed at a secular trendline) in favor of EM.In today’s report we review every global sector, highlighting actionable stocks within each.

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts.  What is clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE’s 20-year chart (below) reveals an in-progress trend reversal (which developed at a secular trendline) in favor of EM.In today’s report we review every global sector, highlighting actionable stocks within each.

This is a new H/A Spread monitor project which attempts to give a brief look at recent changes in H-Share and A-Share spreads based on various influences and sector patterns. 
<h2>H-Share/A-Share Discounts, Changes over 1wk, 4wks and Changes in Southbound Flow</h2>
The first set of tables below show...
<ul>
<li class="">the discount of the major H-share listed companies to their respective A-share,</li>
<li class="">the change in discount over 1-week and 4-weeks (positive number means the H has outperformed the A),</li>
<li class="">a measure of decile…</li>
</ul>

This is a new H/A Spread monitor project which attempts to give a brief look at recent changes in H-Share and A-Share spreads based on various influences and sector patterns. 
H-Share/A-Share Discounts, Changes over 1wk, 4wks and Changes in Southbound Flow
The first set of tables below show...

the discount of the major H-share listed companies to their respective A-share,
the change in discount over 1-week and 4-weeks (positive number means the H has outperformed the A),
a measure of decile…


Quiddity Weekly H/A: Shares Discounts & Southbound Flows 20180112

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:<ul><li>Add exposure to Energy and Materials. </li><li>Financial stocks are strengthening. </li><li>Avoid Australian banks. </li></ul>See the attached report for a complete list of our recommendations from this list.

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:Add exposure to Energy and Materials. Financial stocks are strengthening. Avoid Australian banks. See the attached report for a complete list of our recommendations from this list.

China

Industrial and Commercial Bank of China Limited provides banking services. The Company offers deposits, loans, fund underwriting, foreign currency settlement, and other services. Industrial and Commercial Bank of China provides its services to individuals, enterprises, and other clients.

Price Gauge
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ICBC (H) (1398 HK)

China Banks – Questionable Accounting Practices Exposed

* Circular 46 enabling the CBRC to properly do its job, as Shanghai Pudong Development Bank - the first of many high profile names - gets exposed...

Thomas J. Monaco

Quiddity Weekly H/A: Discounts & Southbound Flows 20180126

This is a new H/A Spread monitor project offering a brief look at recent changes in H-Share and A-Share spreads, Southbound flow and impact, and...

Travis Lundy

Global Equity Strategy: Overweight EM

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and...

Vermilion Research

Quiddity Weekly H/A: Shares Discounts & Southbound Flows 20180112

This is a new H/A Spread monitor project which attempts to give a brief look at recent changes in H-Share and A-Share spreads based on various...

Travis Lundy

Popular Stocks, Attractive Charts

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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