Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Thematic (Sector/Industry)

China Transportation infrastructure / Thematic (Sector/Industry)

<p>With the aim of encouraging a recovery in foreign trade, the Chinese port sector’s antitrust investigations have concluded with 11%-33% handling tariff cuts on foreign trade cargos for seven major ports from 2018, which will save about CNY 4.5 billion in logistic costs for import and export enterprises, according to the National Development and Reform Commission, or NDRC. While the tariff cuts will pressure these port operators’ profit margins, we expect little impact on the sector’s monopoly…</p>

With the aim of encouraging a recovery in foreign trade, the Chinese port sector’s antitrust investigations have concluded with 11%-33% handling tariff cuts on foreign trade cargos for seven major ports from 2018, which will save about CNY 4.5 billion in logistic costs for import and export enterprises, according to the National Development and Reform Commission, or NDRC. While the tariff cuts will pressure these port operators’ profit margins, we expect little impact on the sector’s monopoly…

Shanghai International Port Group (600018 CH)

The 11%-33% Tariff Cuts on Seven Ports Will Pressure the Sector’s Earnings, but Downside Is Limited