In today’s briefing:
- Whitebox Goes Activist on Samsung C&T
- EQD | ULTRAOVERBOUGHT APAC Markets, SHORT Targets
Whitebox Goes Activist on Samsung C&T
- On 14 December, it was reported that US based Whitebox Advisors has started an activist campaign on Samsung C&T (028260 KS).
- Whitebox estimates that Samsung C&T’s stock price is about 68% undervalued compared to its NAV.
- In addition to Whitebox, there are two other foreign investors including Palliser Capital and City of London Investment Management that have requested Samsung C&T to improve corporate governance.
EQD | ULTRAOVERBOUGHT APAC Markets, SHORT Targets
- 3 main APAC markets (Nifty, Kospi 200 and ASX200) are very OVERBOUGHT.
- A WEEKLY pullback (1 week down) is expected this coming week, or the next.
- The pullback should be short-lived and last just 1 week, then the rally should resume.
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