In today’s briefing:
- Ping An A/H Premium: Blow Out Could Lead to Sharp Reversal
- HDFC Bank: An Update
- The Big Blend
- EQD | S&P/ASX200 WEEKLY LONG Supports Reset, Ready for Bounce?
Ping An A/H Premium: Blow Out Could Lead to Sharp Reversal
- Ping An Insurance (601318 CH) trades at a 40% premium to Ping An Insurance (2318 HK). The premium has blown out the last week and there could be a reversal.
- The difference in Ping An’s AH premium versus the HSAHP Index has shrunk to its narrowest level in the last 10 years.
- Shareholding in Ping An Insurance Group of (601318 CH) via Northbound Connect has dropped and shareholding in Ping An Insurance (H) (2318 HK) via Southbound Connect has increased steadily.
HDFC Bank: An Update
- HDFC Bank reported earnings last week. The next day the stock fell 8% followed by another 4% the day after.
- HDFC Bank is one of India’s bluest blue chip stocks with a reputation for being a high quality compounder.
- What happened and where do we go from here? First, some lessons from another life.
The Big Blend
- The previous week was packed with deals, IPOs, and other SPAC-related events.
- Four new deals were announced, including SPACs taking a conglomerate, an eVTOL company, and Korean and Chinese Biotech firms public.
- Also, a new SPAC priced its IPO, and SPAC rules could come under the microscope in the week ahead when the SEC meets.
EQD | S&P/ASX200 WEEKLY LONG Supports Reset, Ready for Bounce?
- The S&P/ASX 200 INDEX closed last week down at 7421.20 (CC=-1). The index was rallying in the previous weeks, but then pulled back before reaching the previous all time highs.
- The next strong support for a LONG trade is 7288 (Q3 support), but there is a risk of a slide to lower levels, so hedge your LONG trades.
- This looks like a temporary correction (buy-the-dip opportunity to add LONG positions, or to re-enter LONG at better prices).
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