Daily Brief Energy/Materials: Supreme Industries, Eastman Chemical Co, International Paper Co and more

In today’s briefing:

Index Rebalance & ETF Flow Recap: JPXNK400, Kenedix, Positioning – India, Japan, Korea
Eastman Chemical Company: Cost Optimization Success & Other Major Drivers
International Paper Company: Pioneering New Era Investments Despite Economic Woes! – Key Drivers

Index Rebalance & ETF Flow Recap: JPXNK400, Kenedix, Positioning – India, Japan, Korea

The review period for the September rebalance of the S&P/ASX family of indices ends on Friday. There will be a lot of changes across the family.
Hang Seng Indices will announce the changes to the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and the HSCI after market close on Friday.
There were HUGE inflows to onshore China focused ETFs during the week with CSI 300 Index, CSI 500 Index and SSE50 Index ETFs taking in the largest amounts.

Eastman Chemical Company delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.
Despite signs of improvement and expectations for lessening destocking in the upcoming quarters, these challenges reduced the company’s earnings outlook for the rest of the year.
We give Eastman Chemical Company a ‘Hold’ rating with a revised target price.

International Paper Company delivered a mixed set of results in the last quarter, with revenues falling short of analysts’ anticipations but above-par earnings.
Although underlying demand for their products improved during the quarter, it remained constrained by inventory destocking.
We give International Paper Company a ‘Hold’ rating with a revised target price.

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