Transport Sector, China and Asia-focused Research

Charles De Trenck

Thematic (Sector/Industry)

Brazil Energy / Thematic (Sector/Industry)

<p>Oil symbolically broke $40 to the downside US time Monday, though many stocks last week stubbornly refused to read the tea leaves from the physical market continuing to break down.  <a href="https://www.smartkarma.com/entities/12491" target="_blank" data-smartkarma-citation="entities:12491:1">Freeport Mcmoran Inc (FCX US)</a>, for its part, was lucky and managed to announce a US$1.5bn common stock offering to continue delevering its B/S. But where does this commodities complex correction lead us from here? What is the most likely pattern to test for?</p><p>I think we need to be ready for a test to the downside and…</p>

Oil symbolically broke $40 to the downside US time Monday, though many stocks last week stubbornly refused to read the tea leaves from the physical market continuing to break down.  Freeport Mcmoran Inc (FCX US), for its part, was lucky and managed to announce a US$1.5bn common stock offering to continue delevering its B/S. But where does this commodities complex correction lead us from here? What is the most likely pattern to test for?I think we need to be ready for a test to the downside and…

Shanghai Electric Group Company (601727 CH)

China Railway Construction Corp (1186 HK)