According to BCA Research’s China Investment Strategy service, there is more downside for both Chinese and global semiconductor share prices. China’s semiconductor stock indexes − both offshore and A-…
According to BCA Research’s Emerging Markets Strategy service, downshifting profit growth expectations and rising interest rates herald a meaningful derating of Indian equities in both absolute terms and relative to their…
Chinese aggregate financing surprised to the downside in December, growing by CNY 1.31 trillion following CNY 1.99 trillion previously, and below expectations of CNY 1.85 trillion. In addition, M1 and M2 measures of money supply…
This week we present our Portfolio Allocation Summary for January 2023.
We recently highlighted that the Brazilian real was among the best performing major currencies in 2022 (second only to the dollar). However, the BRL’s relative strength has reversed in recent months and it has been among…
India’s lofty EPS growth expectations are set for a major disappointment. The RBI has overtightened monetary policy despite the absence of any genuine inflationary pressures in India. Fiscal stance is also restrictive. Stay…
Singapore’s non-oil domestic exports contracted by 14.6% y/y in November, a sharp deterioration from the prior month’s downwardly revised 6.1% y/y decline, and more than double the expected 6.5% drop. Notably, exports…
Relative to beaten-down expectations, global growth will surprise on the upside in 2023. Investors should overweight equities for now but look to turn more defensive in the second half of the year.
According to BCA Research’s China Investment Strategy service, China’s reopening and pro-growth stimulus will lift the economy from rock bottom. However, the recovery in the first half of this year will be uneven.…