In today’s briefing:
- NPS Sells SK Bioscience, Naver, & LG Electronics and Buys Kakao Bank, Lotte Corp, & Samyang Foods
- Hong Kong’s Next 25 Years: A Great Global Hub with Chinese Characteristics
- Asian Monetary Policy: On the Cusp of More Aggressive Tightening
- The Week That Was in ASEAN@Smartkarma – Bank Rakyat, Golden Agri, and KBANK Back to MSCI
NPS Sells SK Bioscience, Naver, & LG Electronics and Buys Kakao Bank, Lotte Corp, & Samyang Foods
- In this insight, we discuss the recent buying and selling by the Korea National Pension Service (NPS) of Korean stocks.
- Of the 176 Korean stocks in which NPS reported changes in ownerships in 2Q 2022, NPS increased its stakes in 115 companies and reduced stakes in 61 companies.
- NPS mostly increased stakes in aerospace, defense, construction equipment, and energy sectors while reducing stakes in telecom and tourism related stocks.
Hong Kong’s Next 25 Years: A Great Global Hub with Chinese Characteristics
- Hong Kong’s standing as a great global heart of commerce and finance has taken a knock as a result of China’s tightening grip on it.
- There is a risk that its unique positioning as a bridge between China and the world could weaken and talent may leave and governance standards be undermined.
- The net effect – it remains a global hub of towering importance but its character will change as it becomes more integrated with China.
Asian Monetary Policy: On the Cusp of More Aggressive Tightening
- Inflation in the region is rising with the closing of output gaps, tightening labour markets, supply-side disruptions and elevated food and energy prices.
- Governments have come under pressure to respond, at the expense of public balance sheets, through a mix of cash transfers, fuel tax cuts/subsidies, food aid and price controls.
- Monetary policy guidance has turned more explicit, with palpable upside risk to rates in the Philippines, Korea and India. Holdouts – BI and BOT – are expected to move soon.
The Week That Was in ASEAN@Smartkarma – Bank Rakyat, Golden Agri, and KBANK Back to MSCI
- The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across South East Asia.
- The past week saw insights on Bank Rakyat Indonesia, Merdeka Copper Gold, Golden Agri Resources, and Kasikornbank plus two insights on the Emperador Inc (EMP PM) Singapore listing.
- We also saw insights on Jasmine International, Singapore Press Holdings, Mapletree Commercial Trust, Hwa Hong Corp, and Sri Trang Gloves plus a broad range of sector coverage in Thailand.
💡 Before it’s here, it’s on Smartkarma
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