In today’s briefing:
- Longs on Next Low
- S-REITs: Investing In An Inflationary Environment
- Flow Trading Targeting Cap Reversion in TIGER Battery ETF Rebalancing on April 13
- Four Companies Likely to Switch Their Listing from KOSDAQ to KOSPI in 2023/2024
- Realty Income Corporation: Diminishing Risk-Adjusted Returns
Longs on Next Low
- SPX and NKY top short picks near term but new low attempts will see the immediate down leg exhaust. Yield decline is exhausting.
- Increasing oversold readings set the stage for some key low on weakness. Euro bank range is 92 to 108.
- Taiwan remains our top long in Asia. Trading bounce lows in ASX, Korea and Europe look attractive/viable.
S-REITs: Investing In An Inflationary Environment
- For the better part of two decades, Singaporean real estate investment trusts (REITs) have provided an efficient and popular exposure to quality large-scale commercial properties.
- Yet as global central banks hike interest rates to address inflationary pressures, can REITs retain their attractiveness?
- SREITs have corrected as Singaporean interest rates have increased. The question is whether higher interest rates are baked in, and which SREITs will hold up; and which ones will not?
Flow Trading Targeting Cap Reversion in TIGER Battery ETF Rebalancing on April 13
- There seems to be no constituent change this time. However, opportunities from cap reversion are likely to lead to noteworthy passive flows.
- Ecopro BM and Ecopro Co will experience a weight movement of -4.35% and -3.68%p. On the other hand, SK Innovation will enjoy the most pleasant passive impact.
- At KODEX Battery’s March rebalancing, the Long SK Innovation Short Ecopro BM position setup provided a return of more than 10% with a similar level of impact x ADTV.
Four Companies Likely to Switch Their Listing from KOSDAQ to KOSPI in 2023/2024
- In this insight, we discuss four companies that are likely to switch their listing from KOSDAQ to KOSPI in 2023/2024.
- These four companies include Ecopro BM, Ecopro Co, BH Co, and Nice Information Service.
- BH Co and Nice Information Service have included the agenda of transfer of the listing from KOSDAQ to KOSPI in their upcoming AGMs this month.
Realty Income Corporation: Diminishing Risk-Adjusted Returns
- Realty Income Corporation’s sustainable growth rate has stalled, resulting in an intrinsic value below its traded market price.
- Realty Income’s market-based features, including dividend growth and low volatility, are favorable.
- However, we think the REITs valuation is a significant risk.
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