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15
April 3, 2018
24

Top Longs Based on Momentum

9f3
tickernamecountrysectorPeriodChange
086280HYUNDAI GLOVIS LTDKorea (South)Industrials31.75
086280HYUNDAI GLOVIS LTDKorea (South)Industrials31.75
2357AVICHINA INDUSTRY & TECHNOLOGY LTDChinaIndustrials25.00
047050POSCO DAEWOO CORPKorea (South)Industrials19.88
051600KEPCO PLANT SERVICE & ENGINEERINGKorea (South)Industrials15.73
ACSACTIVIDADES DE CONSTRUCCION Y SERVSpainIndustrials14.81
000720HYUNDAI ENGINEERING & CONSTRUCTIONKorea (South)Industrials14.23
000720HYUNDAI ENGINEERING & CONSTRUCTIONKorea (South)Industrials14.23
2049HIWIN TECHNOLOGIES CORPTaiwanIndustrials12.31
ALFAAALFA AMexicoIndustrials11.30
25

Top Shorts Based on Momentum

9c6
tickernamecountrysectorPeriodChange
WRT1VWARTSILAFinlandIndustrials-67.80
1055CHINA SOUTHERN AIRLINES LTD HChinaIndustrials-19.53
NS8UHUTCHISON PORT HOLDINGS UNITS TRUSSingaporeIndustrials-17.14
JSMRJASA MARGA (PERSERO)IndonesiaIndustrials-15.38
WSKTWASKITA KARYA PERSERO CLS AIndonesiaIndustrials-14.29
753AIR CHINA LTD HChinaIndustrials-14.19
AGIALLIANCE GLOBAL GROUP INC.PhilippinesIndustrials-13.79
CPICAPITA PLCUnited KingdomIndustrials-13.30
ADANIPORTSADANI PORTS AND SPECIAL ECONOMIC ZIndiaIndustrials-12.84
DMCDMCI HOLDINGS INCPhilippinesIndustrials-11.54
34b
MLIndexnameytd1monthFy1PE
MXEF Index MSCIMSCI EM2.39-0.8411.4
STRQIN Index New York Stock Exchange (NYSE)STRATAQUANT INDUSTRIALS-3.68-2.4914.0
25

Commodities YTD Performance

1f40
NameUnitsKeyLastPriceCurrencyYTDChange USDpct1month
Cocking CoalCNY/MTCocking Coal1500CNY44.233.45
Cocoa (ICE)USD/MTCocoa2558.00USD32.3331.45
SteelUSD/MTSteel588USD12.004.26
NickelUSD/MTNickel13350USD8.98-3.82
Ethanol (CBOT)USD/gal.Ethanol1.47USD8.095.76
Lumber (CME)USD/1000 board feetLumber484.80USD7.661.47
Lean Hogs (CME)USd/lb.Lean Hogs0.7547USD5.802.78
Cotton #2 (ICE)USd/lb.Cotton0.8186USD5.713.96
Soybean (CBOT)USd/bu.Soybean10.2025USD5.643.00
Canola (ICE)CAD/MTCanola517.70CAD5.574.25
Rough Rice (CBOT)USD/cwtRough Rice12.31USD4.68-0.81
Brent Crude (ICE)USD/bbl.Oil69.42USD4.450.65
Corn (CBOT)USd/bu.Corn3.7225USD4.133.55
3Mo Tin (LME)USD/MT3Mo Tin20850.00USD4.12-4.90
Gold SpotUSD/t oz.Gold1347.33USD2.710.93
Wheat (CBOT)USd/bu.Wheat4.5025USD2.33-0.44
Platinum SpotUSD/t oz.Platinum957.63USD1.96-3.77
Orange Juice (ICE)USd/lb.Orange Juice1.3575USD-0.33-11.04
Oats (CBOT)USd/bu.Oats2.2725USD-2.26-15.52
Silver (Comex)USD/t oz.Silver16.62USD-3.26-2.69
3Mo Zinc (LME)USD/MT3Mo Zinc3203.00USD-3.50-9.77
Feeder Cattle (CME)USd/lb.Feeder Cattle1.3853USD-4.79-5.76
Copper (Comex)USd/lb.Copper3.0115USD-7.98-4.96
3Mo Aluminum (LME)USD/MT3Mo Aluminum2075.00USD-8.51-6.74
Coffee 'C' (ICE)USd/lb.Coffee1.1795USD-9.02-5.60
Palladium SpotUSD/t oz.Palladium983.08USD-9.89-9.07
Live Cattle (CME)USd/lb.Live Cattle1.084USD-11.69< 3a0 /td>-13.28
Natural Gas (Nymex)USD/MMBtuNatural Gas2.59USD-14.24-19.31
Rubber (Tokyo)JPY/kgRubber174.60JPY-15.65-10.69
Sugar #11 (ICE)USd/lb.Sugar0.1264USD-17.39-7.53
37

Country USD Yields Ordered By YTD Yield Chance

35
6c
36

Industrials Regional Performance Last Month

10f2
SubindustryEuropeEMUGEMWorld
Transportation: Transportation Infrastructure0.090.090.060.05
Transportation: Marine0.180.00-0.090.00
Capital Goods: Construction & Engineering0.080.090.17-0.46
Transportation: Air Freight & Logistics0.100.092.07-0.55
Commercial & Professional Services: Commercial Services & Supplies0.100.09-0.22-0.65
Commercial & Professional Services Industry Group0.150.09-0.22-0.68
Commercial & Professional Services: Professional Services0.160.090.00-0.70
Transportation Industry Group0.110.09-0.03-0.86
Capital Goods: Trading Companies & Distributors0.10-0.07-0.17-0.87
Capital Goods: Electrical Equipment0.150.090.73-0.94
Industrials Sector0.110.080.20-1.08
Transportation: Road & Rail0.120.00-1.17-1.08
Capital Goods: Aerospace & Defense0.110.09-0.88-1.16
Capital Goods Industry Group0.100.080.31-1.19
Capital Goods: Machinery0.050.09-0.44-1.25
Capital Goods: Building Products0.100.090.73-1.36
Capital Goods: Industrial Conglomerates0.100.090.84-1.58
Transportation: Airlines0.110.090.16-2.14
2f

Industrials Regional Performance YTD

1117
SubindustryEuropeEMUGEMWorld
Capital Goods: Aerospace & Defense8.069.633.836.16
Capital Goods: Trading Companies & Distributors-1.20-5.66-1.92-0.70
Commercial & Professional Services: Commercial Services & Supplies0.9110.17-1.52-1.42
Capital Goods Industry Group-1.07-0.91-0.33-2.69
Commercial & Professional Services Industry Group-5.18-0.23-1.52-2.73
Capital Goods: Electrical Equipment-3.020.64-15.94-2.94
Industrials Sector-1.95-1.26-0.88-3.11
Commercial & Professional Services: Professional Services-6.40-1.870.00-3.57
Transportation: Road & Rail-0.570.007.80-3.74
Capital Goods: Construction & Engineering-3.45-3.57-1.75-3.86
Transportation: Transportation Infrastructure1.171.17-8.12-4.45
Capital Goods: Machinery-2.30-2.955.77-4.60
Transportation Industry Group-3.21-3.31-2.05-4.83
Transportation: Airlines-2.55-5.617.13-4.98
Transportation: Air Freight & Logistics-4.69-7.8027.39-6.08
Capital Goods: Building Products-0.67-4.45-8.26-6.37
Capital Goods: Industrial Conglomerates-7.73-8.64-0.80-10.45
Transportation: Marine-11.660.00-1.96-12.64
42

Industrials Performance in Various Countries Last Month

d89
countryPeriodChange
Morocco6.43
Spain5.81
Korea (South)5.35
Netherlands4.31
Mexico3.45
Sweden2.66
Italy2.45
Kuwait1.93
France1.63
United Kingdom1.26
Qatar0.94
United States0.26
Taiwan-0.12
South Africa-0.26
Denmark-0.33
Malaysia-0.60
Chile-1.08
Thailand-1.08
Australia-1.46
Japan-1.51
Brazil-1.59
Turkey-1.83
Sri Lanka-1.90
Vietnam-2.03
Germany-2.06
Switzerland-2.14
Canada-2.41
Bangladesh-2.59
New Zealand-3.08
Hong Kong-3.86
India-3.87
China-3.98
United Arab Emirates-7.60
Singapore-8.74
Philippines-9.55
Indonesia-11.44
Finland-33.44

Industrials Valuation and Growth in Various Countries (Simple Averages)

147f
CountryPEFy0PEFy12018Growth
CHILE0.000.00208.95
CYPRUS15.4910.05150.86
SPAIN22.7218.9152.29
FRANCE21.8019.5141.83
CANADA22.9519.8841.47
TAIWAN10.799.5531.85
SWEDEN20.1517.5327.74
MEXICO15.3716.4024.19
SOUTH KOREA2.4810.3023.51
SOUTH AFRICA12.7615.3722.38
BRAZIL10.9015.1919.68
CHINA11.2912.4517.76
JAPAN15.0814.6516.98
TURKEY8.9810.5515.47
INDONESIA21.1118.7714.86
FINLAND16.8915.2113.71
ITALY23.3126.5311.61
UNITED STATES20.7217.0311.57
HONG KONG11.4610.9810.71
SWITZERLAND0.000.0010.39
BRITAIN16.2017.068.99
GERMANY20.7618.428.94
RUSSIA2.582.948.90
AUSTRALIA17.798.905.50
INDIA8.4611.133.64
NETHERLANDS23.8816.631.81
PHILIPPINES17.6220.510.69
UAE0.000.000.00
MALAYSIA14.5614.74-6.44
DENMARK7.3614.66-13.29
SINGAPORE0.000.00-40.45
1e04
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    Valuation and Growth of Various Sectors in Industrials

    35
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    3c4
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    37b
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    Link to Industrials Macro Page 39

    Industrials sector trades at 2018 simple average 13 PE Fy1 of 14.2 x a and 2018 13 PE Fy2 of 13.2 x 39

    Industrials sector trades at 2018 simple average 16 EV/EBITDA of 9.3 x a and 2018 15 EV/EBITDA of 8.7 x 46

    In terms of Dividend yield Industrials sector trades at 2018 12 Yield of 2.0 % a and 2018 1a Dividend Yield of 2.0 % 38

    On ROE basis Industrials sector trades at 2018 11 ROE of 12.2 % a and 2018 10 ROE of 12.9 % 47

    Largest Companies in Industrials by Market Capitalisation mn$

    1738
    TickerCompanyCountryIndustrySubIndustryMarketCapUSDmn
    BA USBoeing Co/TheUNITED STATESCapital GoodsAerospace & Defense208937.6
    MMM US3M CoUNITED STATESCapital GoodsIndustrial Conglomerates140937.0
    GE USGeneral Electric CoUNITED STATESCapital GoodsIndustrial Conglomerates130514.9
    SIE GRSiemens AGGERMANYCapital GoodsIndustrial Conglomerates116904.0
    HON USHoneywell International IncUNITED STATESCapital GoodsIndustrial Conglomerates115830.9
    UNP USUnion Pacific CorpUNITED STATESTransportationRailroads104637.3
    UTX USUnited Technologies CorpUNITED STATESCapital GoodsAerospace & Defense103379.3
    LMT USLockheed Martin CorpUNITED STATESCapital GoodsAerospace & Defense102956.8
    CAT USCaterpillar IncUNITED STATESCapital GoodsConstruction Machinery & Heavy93402.9
    UPS USUnited Parcel Service IncUNITED STATESTransportationAir Freight & Logistics91397.6
    AIR FPAirbus SEFRANCECapital GoodsAerospace & Defense90909.4
    GD USGeneral Dynamics CorpUNITED STATESCapital GoodsAerospace & Defense66569.6
    FDX USFedEx CorpUNITED STATESTransportationAir Freight & Logistics65416.0
    RTN USRaytheon CoUNITED STATESCapital GoodsAerospace & Defense62816.4
    NOC USNorthrop Grumman CorpUNITED STATESCapital GoodsAerospace & Defense61975.2
    DG FPVinci SAFRANCECapital GoodsConstruction & Engineering60382.9
    DPW GRDeutsche Post AGGERMANYTransportationAir Freight & Logistics56423.4
    CNR CNCanadian National Railway CoCANADATransportationRailroads56276.3
    ITW USIllinois Tool Works IncUNITED STATESCapital GoodsIndustrial Machinery55518.3
    DE USDeere & CoUNITED STATESCapital GoodsAgricultural & Farm Machinery54772.7
    64

    Number of Companies in Industrials by Country by SubIndustry and Market Capitalisation mn$

    1232
    CountryIndustrySubIndustryNumber of companiesMarketCapUSDmn
    RussiaTransportation & LogisticsTransportation & Logistics12814.4
    SOUTH KOREATransportationAirlines13235.1
    SOUTH KOREATransportationMarine11306.1
    SOUTH KOREATransportationAir Freight & Logistics14673.6
    CHINATransportationAirlines242320.0
    HONG KONGTransportationMarine Ports & Services210559.1
    CHINATransportationHighways & Railtracks212567.9
    CHINATransportationMarine213153.8
    TAIWANTransportationMarine57406.5
    TAIWANTransportationAirlines24243.8
    HONG KONGTransportationRailroads131415.6
    CHINATransportationAirport Services16201.5
    JAPANTransportationRailroads242146.3
    JAPANTransportationAir Freight & Logistics110613.5
    JAPANTransportationAirlines227740.1
    UNITED STATESTransportationAirlines382598.7
    SPAINTransportationHighways & Railtracks123932.7
    INDIATransportationMarine Ports & Services112666.7
    RUSSIATransportationAirlines12704.9
    AUSTRALIATransportationRailroads27261.9

    Top Companies Industrials by Dividend Yield

    6b6
    TickerCompanyCountryIndustrySubIndustryDividendYld_fy1
    144 HKChina Merchants Port Holdings Co LtdHONG KONGTransportationMarine Ports & Services11.4
    GLTR LIGlobaltrans Investment PLCCYPRUSTransportationRailroads10.7
    HMSG LIHMS HYDRAULIC MACHINES & SYSTEMS GROUP PLCRUSSIACapital GoodsIndustrial Machinery10.5
    AFLT RMAeroflot PJSCRUSSIATransportationAirlines9.1
    CPI LNCapita PLCBRITAINCommercial & Professional ServHuman Resource & Employment Se8.3
    39

    Cheapest Companies in Industrials on FY1 PE

    756
    TickerCompanyCountryIndustrySubIndustryPE_fy1
    042660 KSDaewoo Shipbuilding & Marine Engineering Co LtdSOUTH KOREACapital GoodsConstruction Machinery & Heavy1.4
    6502 JPToshiba CorpJAPANCapital GoodsIndustrial Conglomerates3.7
    HMSG LIHMS HYDRAULIC MACHINES & SYSTEMS GROUP PLCRUSSIACapital GoodsIndustrial Machinery3.9
    CPI LNCapita PLCBRITAINCommercial & Professional ServHuman Resource & Employment Se3.9
    047040 KSDaewoo Engineering & Construction Co LtdSOUTH KOREACapital GoodsConstruction & Engineering5.1


    Earnings Relises and Dividends

    4c4
  • 0