Global Head of Research, Smartkarma

Mark Artherton

Global Head of Research

LR Research

Thematic (Sector/Industry)

In Today's Issue<table class="table table-striped"><tbody>
<tr>
<td>Area</td>
<td>Item</td>
</tr>
<tr>
<td>Economic/Commodities</td>
<td>
REMITTANCES TO INDIA ARE DOWN
BRAZIL SOYBEAN EXPORTS ARE UP
PRECIOUS METALS PRICES FLIRT WITH SUPPORT _ COULD BREAKDOWN
PEMEX MAKES SIZEABLE OIL DISCOVERY
</td>
</tr>
<tr>
<td>Policy Led</td>
<td>
SAUDI PURGE
CHINA'S PARIS OUTPERFORMANCE
PBoC LOOKING AT ITS OWN DIGITAL CURRENCY
VENEZUELA SEEKS EXTERNAL DEBT RESTRUCTURING
CHINA'S MAINLAND LAW ON THE NATIONAL ANTHEM TO APPLY TO HK AND MACAU
</td>
</tr>
<tr>
<td>Management Specific</td>
<td>
AMAZON INTO HEALTH INSURANCE IN EUROPE?
CJ CHEILJIDANG SELLING CJ HEALTH?
HDFC STANDARD…
</td>
</tr>
</tbody></table>

In Today's Issue

Area
Item


Economic/Commodities

REMITTANCES TO INDIA ARE DOWN
BRAZIL SOYBEAN EXPORTS ARE UP
PRECIOUS METALS PRICES FLIRT WITH SUPPORT _ COULD BREAKDOWN
PEMEX MAKES SIZEABLE OIL DISCOVERY



Policy Led

SAUDI PURGE
CHINA'S PARIS OUTPERFORMANCE
PBoC LOOKING AT ITS OWN DIGITAL CURRENCY
VENEZUELA SEEKS EXTERNAL DEBT RESTRUCTURING
CHINA'S MAINLAND LAW ON THE NATIONAL ANTHEM TO APPLY TO HK AND MACAU



Management Specific

AMAZON INTO HEALTH INSURANCE IN EUROPE?
CJ CHEILJIDANG SELLING CJ HEALTH?
HDFC STANDARD…




Macro & Asian equity Technical Strategies, BBSP Asia

Federico D'Inca

Macro & Asian equity Technical Strategies

BBSP Asia

Technical Analysis

Mid Term Country Allocation (Tactical view) in terms of Relative Value vs MXAPWhat's new from last week • Although ASX remains within its 3-month range (below 5775) the ratio ASX/MXAP drifted to key support for an expected bounce reaction. Therefore, giving bias for ASX to shape a bullish exit from its range and outperform MXAP. (ref new AU strategies). • Rating unchanged for the rest of the countries. Outperformance in progress for Japan (Nikkei), Korea (Kospi) and HK, China (HSI, HSCEI). Still…

Mid Term Country Allocation (Tactical view) in terms of Relative Value vs MXAPWhat's new from last week • Although ASX remains within its 3-month range (below 5775) the ratio ASX/MXAP drifted to key support for an expected bounce reaction. Therefore, giving bias for ASX to shape a bullish exit from its range and outperform MXAP. (ref new AU strategies). • Rating unchanged for the rest of the countries. Outperformance in progress for Japan (Nikkei), Korea (Kospi) and HK, China (HSI, HSCEI). Still…

Equity Asia Weekly Research - 11 Oct 2017

Credit Analyst, BondAdviser

Jack Pobjoy

Credit Analyst

Australian bonds & fixed income research

BondAdviser

BondAdviser is the central reference point for intelligent information on Australian fixed income markets. We help you make informed decisions by providing unbiased research, transparent pricing data, analytics, portfolio tools and education.

BondAdviser has the broadest coverage of retail-accessible ASX-listed and over-the-counter Australian bonds and fixed income securities. We make it easy for you to review and compare investments before you place an order with your broker or dealer.

The BondAdviser Market Review is an end of month report designed to give users information on events, corporate actions, news and announcements affecting our strategic thinking (i.e. duration positioning, fundamental credit view) plus tactical opportunities as they arise.It also includes our "Data Tracker" which is designed to provide consistent and objective measures of performance and risk across the universe of domestic debt and hybrid securities.Please see attached our September 2017…

The BondAdviser Market Review is an end of month report designed to give users information on events, corporate actions, news and announcements affecting our strategic thinking (i.e. duration positioning, fundamental credit view) plus tactical opportunities as they arise.It also includes our "Data Tracker" which is designed to provide consistent and objective measures of performance and risk across the universe of domestic debt and hybrid securities.Please see attached our September 2017…

BondAdviser Market Review - September 2017

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

Equity Bottom-Up

This morning the overcapitalized AIA Group Ltd. (1299.HK) announced a not so insignificant transaction to purchase the Commonwealth Bank of Australia's (CBA.AU) life insurance business in Australia and New Zealand, and entered into an exclusive 20 year bancassurance arrangement with CBA for a cost of USD 3.04 bn in cash or 1.08x embedded value. From a P/E perspective, the deal represents 11.7x net profit of USD 262 mn prior to synergies. On a EPS basis, this cash deal is USD 0.02 per share…

This morning the overcapitalized AIA Group Ltd. (1299.HK) announced a not so insignificant transaction to purchase the Commonwealth Bank of Australia's (CBA.AU) life insurance business in Australia and New Zealand, and entered into an exclusive 20 year bancassurance arrangement with CBA for a cost of USD 3.04 bn in cash or 1.08x embedded value. From a P/E perspective, the deal represents 11.7x net profit of USD 262 mn prior to synergies. On a EPS basis, this cash deal is USD 0.02 per share…

AIA - Not Letting Cash Burning a Hole in Their Pockets

Director - Research, Consulting and Advisory, BondAdviser

Nicholas Yaxley

Director - Research, Consulting and Advisory

The BondAdviser Market Review is an end of month report designed to give users information on events, corporate actions, news and announcements affecting our strategic thinking (i.e. duration positioning, fundamental credit view) plus tactical opportunities as they arise.It also includes our "Data Tracker" which is designed to provide consistent and objective measures of performance and risk across the universe of domestic debt and hybrid securities.Please see attached our July 2017 edition.Summ…

The BondAdviser Market Review is an end of month report designed to give users information on events, corporate actions, news and announcements affecting our strategic thinking (i.e. duration positioning, fundamental credit view) plus tactical opportunities as they arise.It also includes our "Data Tracker" which is designed to provide consistent and objective measures of performance and risk across the universe of domestic debt and hybrid securities.Please see attached our July 2017 edition.Summ…

Australia

National Australia Bank Limited is an international banking group which operates in Australia, New Zealand, Europe, Asia and the United States.  The Group offers banking services, credit and access card facilities, leasing, housing and general finance, international and investment banking, wealth and funds management, life insurance and custodian, trustee and nominee services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

National Australia Bank (NAB AU)

21 Things Worth Knowing (#8)

In Today's Issue1. Saudi Crown Prince kick starts an anti-corruption drive in a bid to cement his power. So far 11 princes, 4 ministers and a...

Mark Artherton

Equity Asia Weekly Research - 11 Oct 2017

Mid Term Country Allocation (Tactical view) in terms of Relative Value vs MXAPWhat's new from last week• Although ASX remains within its 3-month...

BBSP Asia

BondAdviser Market Review - September 2017

The BondAdviser Market Review is an end of month report designed to give users information on events, corporate actions, news and announcements...

BondAdviser

AIA - Not Letting Cash Burning a Hole in Their Pockets

This morning the overcapitalized AIA Group Ltd. (1299.HK) announced a not so insignificant transaction to purchase the Commonwealth Bank of...

Thomas J. Monaco

BondAdviser Market Review - July 2017

The BondAdviser Market Review is an end of month report designed to give users information on events, corporate actions, news and announcements...

BondAdviser

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)