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Global / Economics & Strategy

Research Library

September 16, 2019
Research Library

Economics and Macro Strategy

Taiwan / Growth

Taiwan: Made-in-Taiwan (MIT) back to the fore

September 12, 2019
Taiwan: Made-in-Taiwan (MIT) back to the fore

After two decades of investment exodus and industrial hollowing out, “Made-in-Taiwan” (MIT) is coming back to the fore, driven by a combination of external push and domestic pull factors.

South Korea / Growth, Rates

South Korea Chartbook: More stimulus needed, more coming

September 10, 2019
South Korea Chartbook:  More stimulus needed, more coming

Concerns over prolonged economic weakness / deflation will likely mount in the months ahead, justifying the call for more stimulus.

Asia / Technology

Super Apps in Financial Services: Business Models and Oppor...

September 12, 2019
Super Apps in Financial Services: Business Models and Opportunities

Our analysts took a deep dive exploring implications on the banking and insurance sectors as SuperApps continue to gain prominence and establish themselves as a hallmark to modern convenience.

China / Infrastructure

China Infrastructure: Growth acceleration in 2020

September 12, 2019
China Infrastructure: Growth acceleration in 2020

More opportunities could be made available for China’s infrastructure sector as the Chinese government continues to roll out measures to stability the country’s economic growth.

China / Consumer

China Home Appliance Sector: Emerging positives

September 11, 2019
China Home Appliance Sector: Emerging positives

Raw material price declines help lift sales growth for appliance makers in China for 2H19. Our top BUY is Midea.

China / Equities

Monthly Market Pulse: Cautiousness prevails amidst trade wa...

September 03, 2019
Monthly Market Pulse: Cautiousness prevails amidst trade war escalation

Volatile market conditions prompt for cautious guidance from company management as civil unrest continues to plague Hong Kong society.

China / Equities

Market Strategy: What if HK unrest ends?

August 15, 2019
Market Strategy: What if HK unrest ends?

Civil unrest in Hong Kong continue to weight on its economy with expectations for GDP growth to fall to 0% for the year.

China / Equities

Market Strategy: Beneficiaries of Vietnam’s rise

August 12, 2019
Market Strategy: Beneficiaries of Vietnam’s rise

Our analysts identified buying opportunities in Hong Kong that leverages on Vietnam’s rising star as a regional economic powerhouse.

Economics Daily

  • Economics
  • Macro Strategy
  • Economics
  • Macro Strategy
Asia / Growth, FX

Chart of the Week: Global oil supply situation

September 16, 2019
Chart of the Week: Global oil supply situation

Drone attacks on Saudi Arabia’s oil facilities, amongst the world’s largest, disrupted the country’s crude production and refining capacity considerably.

Europe / Monetary, Rates

Eurozone : ECB to stay dovish “as long as necessary”

September 13, 2019
Eurozone : ECB to stay dovish “as long as necessary”

From “whatever it takes” to “as long as necessary,” outgoing European Central Bank chief Mario Draghi followed up with his promise of delivering monetary stimulus.

Global / Growth, Rates

Weekly: Interim relief

September 13, 2019
Weekly: Interim relief

Favourable newsflow related to trade war, Brexit, China stimulus, ECB, and Iran have helped risk sentiments this week, making for a constructive September so far.

Global / FX, Rates

Drone attack a major setback in the middle-east; The market...

September 16, 2019
Drone attack a major setback in the middle-east; The market pares Fed cut bets

Oil spikes as Saudi Arabia's production gets disrupted. Fed cut bets are being pared.

Global / FX, Rates

Reiterating caution on DM govvies; USD and FOMC

September 13, 2019
Reiterating caution on DM govvies; USD and FOMC

DM yields can push higher amid a better global narrative. There is scope to dial back excessive pessimism in the fx space.

Global / FX, Rates

Implications of a slightly improved macro narrative

September 12, 2019
Implications of a slightly improved macro narrative

The global narrative is turning better as trade war risks recede. China moves to ease RRR and trade tensions.

Market Movers

  • Daily Digest
  • Strategy
  • Daily Digest
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Global / Currencies

Lira traders rejoice

September 13, 2019
Lira traders rejoice

Turkey rate cut is not as big as some feared

Asia / Equities

China’s tech innovators go into overdrive

September 13, 2019
China’s tech innovators go into overdrive

The country’s corporations now rank among the world’s most prolific patent applicants

Developed Markets / Equities

ECB cuts rates further below zero

September 13, 2019
ECB cuts rates further below zero

It also revives bond purchases and will buy debt at a pace of EUR20b a month starting November

Global / Perspectives

China’s RRR cut to stimulate loan demand

September 09, 2019
China’s RRR cut to stimulate loan demand

We reaffirm our constructive stance on China’s large state banks for their c.6% dividend yield and compelling valuations.

Global / Perspectives

Dip in ISM manufacturing insignificant to S&P 500

September 04, 2019
Dip in ISM manufacturing insignificant to S&P 500

The Fed is expected to maintain an accommodative policy stance in such an environment, and this will benefit “income equities” such as Asia REITs.

Global / Perspectives

Getting ready for a no-deal Brexit

September 02, 2019
Getting ready for a no-deal Brexit

We continue to prefer US over EU/UK equities on superior economic fundamentals and the breadth of companies that ride secular growth trends.

Featured Publications

Malaysia / Infrastructure

KL-SG High Speed Rail: Riding the HSR Revival

July 19, 2019
KL-SG High Speed Rail: Riding the HSR Revival

Our analysts took a deep dive exploring possible implications from a revival of the Kuala Lumpur-Singapore High Speed Rail project. What could that mean for the economies of the two countries?

Asia / Consumer

Ride Sharing: Profitable or not?

May 27, 2019
Ride Sharing: Profitable or not?

Our analysts took a deep dive into the ride sharing business model, and identified scale and dominance as key profitability drivers. But what does that mean for smaller operators?

China / Equities

Greater Bay Area: In-depth Study

May 15, 2019
Greater Bay Area: In-depth Study

Our analysts took a deep drive to examine opportunities and challenges to come as the Greater Bay Area (GBA) embarks on its journey to become China’s newest innovation and technology hub.