A couple of outstanding equity focused reports from the research teams at CS.
Some excellent and useful work here. The Asian report is outstanding and repeats the out performance of insurance we have seen in the dm markets recently.
Ill leave the detail to the reports. CS sees the risks of a near term pull back but the seasonal’s are strong now in the run up to year end close of books. Perhaps we can dispel the reality of the technical weakness to after the holiday season.
I would dearly like to get my hands on more Asian detailed equity research papers like this.The demographics research is spot on. Credit to corporates has been strong in Asia but consumers have not taken to debt in the same way as in the western markets. Savings remain very high. A long secular trend for the Asian consumer can’t be far away. It would be a very positive event for global money supply.
I’ll leave the individual picks to CS but i would comment that large caps are the only place to be in the Chinese market do to risks of accounting standards etc. Listings via the HK market are safer than some adr listings in the US. Link Reit is a nice Reit I do hold. The Indian listing we must be very careful with any domestic themes due to the obvious fx risks.
Much more to come
Rich