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

We continue to believe global equities (ACWI-US) are likely to test the recent low made on March 23, with an undercut of roughly 10% also in the cards. This expectation is supported by price action during prior major waterfall declines in past recessionary periods. With the global economy likely headed for a recession (or worse) we believe it is important to stay with the Sectors that have been outperforming amid the COVID-19 pandemic as we believe they are likely to continue outperforming. That means we are sticking primarily with Staples, Health Care, and Technology. We are also expanding our recommendations to include bottom-up ideas within several other Sectors.

We continue to believe global equities (ACWI-US) are likely to test the recent low made on March 23, with an undercut of roughly 10% also in the cards. This expectation is supported by price action during prior major waterfall declines in past recessionary periods. With the global economy likely headed for a recession (or worse) we believe it is important to stay with the Sectors that have been outperforming amid the COVID-19 pandemic as we believe they are likely to continue outperforming. That means we are sticking primarily with Staples, Health Care, and Technology. We are also expanding our recommendations to include bottom-up ideas within several other Sectors.

Global Equities (ACWI-US) Likely to Retest the March Low

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<h2>Headlines­</h2><ul>
<li>In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres and CNY137.9 billion, respectively</li>
<li>Retail channel development drives volume and value sales growth</li>
<li>Current value sales of bottled water increase by 6% on-trade in 2016 compared with 11% off-trade</li>
<li>Shenzhen C’est Bon Food &amp; Beverage Co Ltd replaces Nongfu Spring Co Ltd and ranks as number one player in bottled water in 2016 with an off-trade value share of 9%</li>
<li>…</li>
</ul>

Headlines­
In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres and CNY137.9 billion, respectively
Retail channel development drives volume and value sales growth
Current value sales of bottled water increase by 6% on-trade in 2016 compared with 11% off-trade
Shenzhen C’est Bon Food &amp; Beverage Co Ltd replaces Nongfu Spring Co Ltd and ranks as number one player in bottled water in 2016 with an off-trade value share of 9%
…


Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

Should we be concerned that a Chinese pork producer is buying the largest hog producer in the US? Growing concerns over food safety and problems with antibiotic resistance due to misuse should be taken seriously.

Should we be concerned that a Chinese pork producer is buying the largest hog producer in the US? Growing concerns over food safety and problems with antibiotic resistance due to misuse should be taken seriously.

Founder, Supreme Peoples Court Monitor

Susan Finder

Founder

Supreme Peoples Court Monitor

A senior judge of China's Zhejiang Province Higher People's Court gave a <a href="http://mp.weixin.qq.com/s?__biz=MjM5NjA3NDc5MA==&amp;mid=2654696679&amp;idx=1&amp;sn=de31519c793d3104b951aff8f5533d8a&amp;chksm=bd2110ae8a5699b82257b31d4423e80eb779f5de31303016012381e999a9c774bac4eaa2d167&amp;mpshare=1&amp;scene=5&amp;srcid=0123rxQfyxxt74qmE8hHGXcm#rd" target="_blank">status report</a> on civil and commercial litigation in his province, providing statistics as of the end of September, 2016. What he reported provides signals on the state of the economy there, a province critical to the Chinese economy.<h2>What is special about Zhejiang?</h2>Zhejiang is an important export base, accounting for about 12% of all Chinese exports in <a href="http://china-trade-research.hktdc.com/business-news/article/Facts-and-Figures/Zhejiang-Market-Profile/ff/en/1/1X000000/1X06BVYH.htm" target="_blank">2015</a>.  Many of the exporting companies are private and in 2015, private…

A senior judge of China's Zhejiang Province Higher People's Court gave a status report on civil and commercial litigation in his province, providing statistics as of the end of September, 2016. What he reported provides signals on the state of the economy there, a province critical to the Chinese economy.What is special about Zhejiang?Zhejiang is an important export base, accounting for about 12% of all Chinese exports in 2015.  Many of the exporting companies are private and in 2015, private…

Bad Debt Litigation in China's Export Base

Founder, Riedel Research

David Riedel

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

GCSI Rises In December but Increased Polarization Predicts Volatility in 2017<ul><li class="li2">In December the RRG Global Consumer Sentiment Index (GCSI) increased slightly to a level of .53, up from .5 in November and above the average reading of 0.37 for the first 11 months of the year.</li></ul><ul>
<li class="li2">Upward momentum in the GCSI has been enough to offset concern about rising inflation and the uncertainty of the Trump presidency in the U.S. set to begin Jan 20th.</li>
<li class="li2">
US dollar strength since Trump’s election in November dampened…</li>
</ul>

GCSI Rises In December but Increased Polarization Predicts Volatility in 2017In December the RRG Global Consumer Sentiment Index (GCSI) increased slightly to a level of .53, up from .5 in November and above the average reading of 0.37 for the first 11 months of the year.
Upward momentum in the GCSI has been enough to offset concern about rising inflation and the uncertainty of the Trump presidency in the U.S. set to begin Jan 20th.

US dollar strength since Trump’s election in November dampened…


Global Consumer Sentiment Strong in Dec but Troubling Patterns Risk Volatility in 2017

China

Yixintang Pharmaceutical Group Co., Ltd. operates pharmaceutical stores. The Company retails Chinese medicines, western medicines, and other products. Yixintang Pharmaceutical Group also provides medical equipment.

Yixintang Pharmaceutical Group (002727 CH)

COFCO Joycome Foods Limited engages in animal meat production. The Company produces, processes, distributes, and sells fresh pork, pork products, and animal feeds. COFCO Joycome Foods also operates and manages slaughterhouse throughout China.

Ping An Healthcare and Technology Company Limited provides health care software solutions. The Company offers mobile platform for online consultation, hospital referral and appointment, health management, and wellness interaction services, as well as connects consumers and patients with health care resources. Ping An Healthcare and Technology serves customers in China.

Laobaixing Pharmacy Chain JSC wholesales and distributes medical products. The Company provides Chinese herbal medicines, antibiotic preparations, biochemical drugs, and other products. Laobaixing Pharmacy Chain also provides medical equipment.

Sanjiang Shopping Club Company Limited operates community budget supermarket franchises. The Company provides customers with retail services.

New Huadu Supercenter Co., Ltd. engages in chain operations in marketplaces, sup ermarkets, department stores.

Luyan Pharma Co Ltd is a medical distributor. The Company wholesales medical equipment, vaccines, and more.

Shanghai Bailian Group Co.,Ltd. operates as a supermarket. The Company retails vegetables, fruits, meats, seafood, delicatessen products, sweets, snacks, and other related products. Shanghai Bailian Group also operates department store business.

Zhongbai Holdings Group Co., Ltd. owns and operates several department stores and supermarkets.  Through it subsidiaries, the Company also operates in pharmaceuticals manufacturing, real estate development, and property management.

Better Life Commercial Chain Share Co., Ltd. operates a chain of supermarkets, general merchandise stores and household electrical appliances stores.

Better Life Comm Chain Share Co (002251 CH)

LIFE CORPORATION operates a supermarket chain mainly in Kansai and Kanto areas. The Company sells mainly groceries, and also clothing, and household utensils.

E-MART Inc. operates E-Mart discount stores. The Company retails food, clothing, household goods, electronics, and other items through several branch stores.

AIN HOLDINGS INC. operates and franchises pharmacies in Japan.  The Company primarily sells medicines, external-use medicine, cosmetics, and food products. AIN Pharmaciez also conducts clinical tests for medical institutions.

Dongsuh Companies Inc. imports, manufactures, processes, markets and distributes general food products such as vegetable cooking oils. The Company also produces packaging materials and ceramic products including food and oil containers. Dongsuh has a cooperative relationship with Kraft Foods Inc.

CREATE SD HOLDINGS Co Ltd operates a chain of drug stores based in Kanagawa. The Company sells medical supplies, cosmetics, foodstuff, baby products and daily goods. CREATE SD HOLDINGS also sells prescription medicine.

Puregold Price Club, Inc. operates wholesale and retail stores, including supermarkets.

KANSAI SUPER MARKET LTD. is a food supermarket chain operator which mainly deals in foodstuffs, daily products, and miscellaneous goods.  The Company has markets in Hyogo and Osaka areas.

HelloFresh SE provides online food services. The Company offers a subscription service in which customers receive a weekly box of recipes and meal ideas. HelloFresh also provides ice packs, plastic packaging, meat packing, insulation materials, and other related products. HelloFresh serves customers worldwide.

BGF Retail Co., Ltd. operates convenience stores. The Company retails delicatessen, sweets, snacks, beverages, tobacco, and other related products. BGF Retail markets its products throughout South Korea.

The Spar Group Limited is a wholesale distributor of goods and services to independently owned SPAR, TOPS and Build It stores. The Company is also involved in the management of voluntary trading groups.

Shenzhen Agricultural Products Co., Ltd. operates chain supermarkets and wholesale markets for agricultural products.  The Company also provides agricultural products processing and other related services.

Shenzhen Agricultural Products Co, Ltd. (000061 CH)

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Shenzhen Agricultural Products Co, Ltd. (000061 CH)

Global Equities (ACWI-US) Likely to Retest the March Low

We continue to believe global equities (ACWI-US) are likely to test the recent low made on March 23, with an undercut of roughly 10% also in the...

Vermilion Research

Sector Capsule: Bottled Water in China

Headlines In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres...

Euromonitor International Ltd.

Issues Raised by WH Group and US Pork

Should we be concerned that a Chinese pork producer is buying the largest hog producer in the US? Growing concerns over food safety and problems...

Bixmoor

Bad Debt Litigation in China's Export Base

A senior judge of China's Zhejiang Province Higher People's Court gave a status report on civil and commercial litigation in his province,...

Susan Finder

Global Consumer Sentiment Strong in Dec but Troubling Patterns Risk Volatility in 2017

GCSI Rises In December but Increased Polarization Predicts Volatility in 2017In December the RRG Global Consumer Sentiment Index (GCSI) increased...

David Riedel

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Equities (ACWI-US) Likely to Retest the March Low

We continue to believe global equities (ACWI-US) are likely to test the recent low made on March 23, with an undercut of roughly 10% also in the...

Vermilion Research

Sector Capsule: Bottled Water in China

Headlines­ In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres...

Euromonitor International Ltd.

Issues Raised by WH Group and US Pork

Should we be concerned that a Chinese pork producer is buying the largest hog producer in the US? Growing concerns over food safety and problems...

Bixmoor

Bad Debt Litigation in China's Export Base

A senior judge of China's Zhejiang Province Higher People's Court gave a status report on civil and commercial litigation in his province,...

Susan Finder

Global Consumer Sentiment Strong in Dec but Troubling Patterns Risk Volatility in 2017

GCSI Rises In December but Increased Polarization Predicts Volatility in 2017In December the RRG Global Consumer Sentiment Index (GCSI) increased...

David Riedel

Headlines In 2016, off-trade sales of bottled water increase by 8% in volume terms and 11% in current value terms, to reach 42.1 billion litres...