In today’s briefing:
- The Stocks to Own in Asia – Vol. 45
- The Stocks to Own in ASEAN – Vol. 47
- Singapore Banks and Financed Emissions: DBS, OCBC, and UOB
- China Toll Road Sector: Higher for Longer……Yields
- #9 India Insight: Goldman Sachs on India Election, Zee& SpiceJet Fundraise, ITC Demerger
- #13Business Buzz: ECB’s ‘Hawkish’ Rate Cut, Nvidia’s $3 Trillion Market Value, Salesforce AI Center
- [Blue Lotus Daily – TMT Update]:3690 HK/700 HK/SHEIN/4385 JP/Douyin
The Stocks to Own in Asia – Vol. 45
- We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
- Portfolio changes: Four stock remains, 10 stocks added into portfolio
- Since its inception, it has generated a before-fee total return of 187% versus the MSCI Asia ex Japan of 78%
The Stocks to Own in ASEAN – Vol. 47
- We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
- Portfolio changes: Five stocks remain, nine stocks added to our portfolio
- Since its inception, the portfolio has generated a before-fee total return of 255% versus MSCI ASEAN’s 30%
Singapore Banks and Financed Emissions: DBS, OCBC, and UOB
- Singapore’s major banks – DBS, OCBC, and UOB – have set sector-specific emissions targets for indirect emissions related to financial activities, known as Scope 3 “financed” emissions.
- Collectively, these sector targets span ten carbon-intensive sectors, represent S$200+ billion in corporate loan portfolios, and cover the majority of the banks’ total financed emissions.
- Financed emissions targets facilitate decarbonisation of emissions-intensive clients, reducing climate-related risks and creating opportunities for new and innovative financial products.
China Toll Road Sector: Higher for Longer……Yields
- China’s toll road sector has gone up by 47.4% since 2022, but it remains an excellent yield play with an average yield of 7.2% and 7.8% in FY24 and FY25.
- 1Q24 profit is solid, with 3-year forecast earnings CAGR at a healthy 6.5%. Anhui Expressway H (995 HK) and Jiangsu Expressway (H) (177 HK) have the most consistent DPS trend.
- We like Jiangsu Expressway (H) (177 HK) for its track record and growth prospects. As a relative underperformer in the sector, it is poised to catch up.
#9 India Insight: Goldman Sachs on India Election, Zee& SpiceJet Fundraise, ITC Demerger
- Goldman Sachs: Coalition Management Key for BJP as Economic Stability Persists
- Zee Entertainment Enterprises (Z IN) to Raise Rs. 2,000 Crore Following Sony Deal Fallout, Spicejet Ltd (SJET IN) is also planning to raise funds in coming months
- RBI Approves Kotak Mahindra Bank (KMB IN)’s 70% Stake Sale in Insurance Arm to Zurich Insurance
#13Business Buzz: ECB’s ‘Hawkish’ Rate Cut, Nvidia’s $3 Trillion Market Value, Salesforce AI Center
- ECB Delivers ‘Hawkish’ Rate Cut Amid Revised Inflation and Growth Projections
- Devon Energy Missed Out on the US Oil and Gas Mega-Deal Wave
- Salesforce to Launch Flagship AI Center in London, Part of $4 Billion UK Investment
[Blue Lotus Daily – TMT Update]:3690 HK/700 HK/SHEIN/4385 JP/Douyin
- 3690 HK: The prevalence of short-distance trips bodes well for Metiuan, albeit long-distance trips remain lukewarm.(+)
- 700 HK: NPPA Released the June Import Game Code Approvals, and Tencent’s <VALORANT Mobile> received approval.(+)
- SHEIN/4385 JP: SHEIN expands its C2C shopping platform into Europe (+/-)
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