In today’s briefing:
- Today’s Battery Rally Offers a Great Angle for Sector Pair Trading with Value-Up Stocks
- POSCO Group Corporate Value Pre-Announcements: Trading Angle
- India Autos: Expected Weak Wholesale Data. Hyundai Dispatches Drop in August
Today’s Battery Rally Offers a Great Angle for Sector Pair Trading with Value-Up Stocks
- Today’s surge in Korean battery stocks stems from sector rotation and improved fundamentals, with SK On’s healthier balance sheet and Samsung SDI’s new U.S. plant fueling optimism.
- But with POSCO affiliates showing standout performance relative to their peers., the value-up factor is once again shaking things up and driving those differences in relative performance.
- Today’s price action suggests using the value-up factor for long-short strategies, especially with KRX hinting at sector quotas in the value-up index.
POSCO Group Corporate Value Pre-Announcements: Trading Angle
- On 29 August, the three major POSCO Group companies including POSCO Holdings announced that they plan to provide detailed explanations of their Corporate Value Up plans in 4Q 2024.
- In general, the companies that have provided more detailed plans for their Corporate Value Up plans have done better recently.
- However, now there are cases such as the three main POSCO Group companies whose share prices are rising just by announcing that they will provide Corporate Value Up plans later.
India Autos: Expected Weak Wholesale Data. Hyundai Dispatches Drop in August
- Recent media reports on declining passenger vehicle (PV) sales in India for August are based on wholesale data and reflect expected weakness due to high dealer inventory levels.
- Hyundai Motor India (1342Z IN)‘s dispatches dropped by 8% in August, yet the company remains strong in the SUV segment, with the Creta, launched in January 2024, driving growth.
- Outlook for the passenger vehicle segment is cautiously optimistic, supported by monsoon impact, festive season, new product launches, but challenges like heavy rainfall, high inventory levels, and economic uncertainties persist.
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