In today’s briefing:
- Unexpected Surge in US Crude Oil Stockpile Highlights Inventory Discrepancies
- CX Daily: China’s Efforts to Unlock the Value of Data as an Asset
- Securities Watchdog Tells Quant Funds to Downsize Popular Strategy
- The Weekly Market Monitor – Please Give a Warm Welcome to BITCOIN
- EA Serving Inflation Resilience
- NPS to Invest 11 Trillion Won in Low PBR/Value Stocks in Korea?
Unexpected Surge in US Crude Oil Stockpile Highlights Inventory Discrepancies
- US crude oil inventories buildup outpaces gasoline and distillate withdrawal for the week ending on 23/Feb.
- Refinery utilisation rates rose by 0.9 percentage points on a weekly basis to 81.5%, for the first time in 2024.
- Disparity between crude oil and refined petroleum inventories to remain in the near term as refinery utilisation rates are yet to recover completely after the maintenance season.
CX Daily: China’s Efforts to Unlock the Value of Data as an Asset
- Data / In Depth: China’s efforts to unlock the value of data as an asset
- Bonds /Chart of the Day: China’s plunging long-term government bond yields
- Stocks /Securities watchdog tells quant funds to downsize popular strategy
Securities Watchdog Tells Quant Funds to Downsize Popular Strategy
- China’s securities regulator is tightening its grip on a popular and highly leveraged quantitative trading strategy that is blamed for fueling the recent stock market upheavals.
- The China Securities Regulatory Commission (CSRC) in a Wednesday statement promised to gradually reduce the size and leverage of Direct Market Access (DMA), a business model widely used by quantitative funds.
- The move will help control risks and ensure the stable and healthy operation of the market, the regulator said in the statement.
The Weekly Market Monitor – Please Give a Warm Welcome to BITCOIN
- Bitcoin rose nearly 20% this week, and the impact of spot Bitcoin ETFs is huge, but with a twist.
- This week’s US personal income data provides yet another chart showing that the recession is already behind us. But will the US consumer keep spending?
- That new The Economist cover does not bode well for stocks, but the moving average does. Yet, sentiment remains in Frenzy.
EA Serving Inflation Resilience
- Flash EA inflation unusually exceeded expectations by only slowing by 0.2pp to 2.58% in February. This outcome matches average forecasts for the month held since Dec-22.
- Resilient services inflation only slowed by 5bps to 3.93%, driving the upside surprise in the headline and core inflation rates, with the latter at 3.1%.
- The ECB will likely look at headline inflation above this pace at its June meeting, with services at 3.5% in our forecast. We still expect it to delay cuts until September.
NPS to Invest 11 Trillion Won in Low PBR/Value Stocks in Korea?
- NPS is in discussion to invest nearly 11 trillion won in low PBR/undervalued Korean stocks.
- Korea Exchange is in discussion with NPS to create a new index tracking low PBR/undervalued stocks in Korea in efforts to boost government’s efforts to boost the local stock market
- This index is tentatively named Korea Value-Up Index and institutional investors are expected to use it as one of the benchmark indices for equity investments.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
