In today’s briefing:
- EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades- Peak Rates?
- Estun Is on Track of Achieving Its Sales Target
- China Healthcare Weekly (May.5)- 2nd Wave of COVID, Valuation Logic of China’s Core Assets, Lifetech
- ECM Weekly (7th May 2023) – Mankind, Nexus REIT, Pertamina Hulu, Growatt, DXN, Giant Biogene, Ventia
EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades- Peak Rates?
- Weekly summary of vol changes and moves across Global Markets
- Analysing ATM volatility and skew changes over the last 5 days
- We suggest a few trades to take advantage of the implied vol surfaces
Estun Is on Track of Achieving Its Sales Target
- MIR forecasts China’s industrial robot market growth to accelerate to ~12% y/y in 2023 and will sustain at double digit y/y for the next several years.
- Management sees order growth back to normal in Mar and Apr.
- Industrial robot sales volume is expected to increase to ~25K in 2023, growing by ~45% y/y.
China Healthcare Weekly (May.5)- 2nd Wave of COVID, Valuation Logic of China’s Core Assets, Lifetech
- Many people have begun to pay attention to whether there would be a second wave of COVID-19 in China. We think it is necessary to share our views.
- The overvaluation or undervaluation of China’s core assets cannot be explained solely by classic valuation models such as PE/PB/DCF, but rather by considering the deep meaning represented by the companies.
- Lifetech’s future growth space depend more on the performance of pacemakers and IBS, but they are facing different challenges. Therefore, we recommend short-term trade rather than long term hold.
ECM Weekly (7th May 2023) – Mankind, Nexus REIT, Pertamina Hulu, Growatt, DXN, Giant Biogene, Ventia
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- Nexus Select Trust will open books for India’s first Retail REIT, just as the first major India IPO for the year, Mankind Pharma seeks to list.
- There was only Ventia (VNT AU) placement during the week, along with Giant Biogene Holding (2367 HK) lockup expiry.
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