BCA Research's China Investment Strategy service believes that both A-Shares and investable bourses still have room for upside in the ongoing bull market. Chinese bull markets typically last 2-2.5 years and involve three…
Highlights Chinese stocks are still in the “public participation phase” of a cyclical bull market and have not yet reached the “excess phase.” Economic fundamentals should provide support for more upside in…
South Korea's exports for the first 20 days of July fell by -12.8% year-on-year, representing a deterioration compared to last month's -7.5% contraction. On the positive side, the contraction in exports per working day is…
Asian equities have recently rallied in a parabolic fashion relative to their Latin American counterparts thanks to Asia’s comparatively large weighting in tech stocks, along with its lower count of COVID-19 cases. This…
BCA Research's Emerging Markets Strategy service analyzes the increasing concentration in the EM equity benchmark caused by outsized gains in several “new economy” stocks. If the global mania in “new economy…
At first glance, China’s GDP growth in Q2 was a positive surprise, rising 11.5% on a quarterly, seasonally adjusted rate, well above expectations of 9.6%. Moreover, while the year-to-date data continues to show a…
Highlights Exogenous risks will remain more of a threat to grain prices than out-of-whack fundamentals, which are closer to balance than not, as the USDA’s World Agricultural Supply and Demand Estimates (WASDE) indicate. COVID-…
Highlights The EM equity benchmark’s concentration in the top six stocks – that in turn correlate with US FAANGM – has risen substantially. Hence, the outlook for US mega-cap stocks will continue to significantly…
China’s June trade numbers offered some hope for the global economy. In USD terms, the annual growth rate of exports rebounded to 0.5% from -3.3% last May. Imports’ growth recovered to 2.7% from -16.7%. Shipments…