In today’s briefing:
- SPX Bounce to Short
- Align Partners’ Corporate Activism on Korean Banks: A Media Presentation and Q&A Session
SPX Bounce to Short
- SPX bounce call from 3,800 to 3,950 is unfolding with risk of an early failure. Flat pattern wants to press lower post bounce.
- Sell points noted at 3,950 with scope to 3,980. We are using NDX and RTY as our short vehicles.
- DXY still needs some time to base at 103/102 but a low would fit with a risk top here.
Align Partners’ Corporate Activism on Korean Banks: A Media Presentation and Q&A Session
- Align Partners Capital Management (APCM) held a media presentation and a Q&A session with both the investors community and the media today.
- Align Partners’ corporate activism of the Korean banks has been one of the biggest stories in the Korean stock market this year.
- The Korean banks are likely to outperform the market in 1H23. Nonetheless, if there are further signs of housing price declines in Korea, this outperformance may not continue in 2H23.
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