Daily Brief Financials: KakaoBank, Agile Property Holdings, Krungthai Card, Hopson Development, iShares 20+ Year Treasury Bond ETF and more

• TPG and Anchor experienced EOD risk due to the recent plunge in Kakao Bank’s stock price. So, they will sell shares if the current price rise continues a little further.
• All three PEs of Shinhan Financial are currently expected to be seeking an early exit although they expressed last year that they would remain strategic shareholders.
• Other notable targets are Hahn & Co’s Hanon Systems and K Car and MBK Partners’ ConnectWave, likely via a phased stake sale in tranches.

The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next 30 days.

• Quietly KTC has seen its bad loans and credit costs rise
• During last year it saw a final surge in credit costs in the last quarter
• Market share losses and regulatory risk may continue to pressure its 5x PB

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Fosun International
2. Lippo Karawaci
3. Agile Property Holdings
4. China Jinmao Holdings
5. Lifestyle International Holdings

and more…

• The one-sided downward movement in both equity and bond prices in 2022 was both unusual and expected.
• The set-up for the next 12 to 18 months is favourable for bonds, both on the short and the long-end of the curve.
• The one- sided downward movement was both unexpected and expected.