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September 24, 2018

Top Longs Based on Momentum

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25

Top Shorts Based on Momentum

35
5ae
MLIndexnameytd1monthFy1PE
STRQTC Index New York Stock Exchange (NYSE)STRATAQUANT TECHNOLOGY21.774.8922.5
MIGUBTEC Index MSCIMSCI World Biotechnology USD3.57-0.59-
MXEF Index MSCIMSCI EM-11.62-3.7110.7
FTSEIT Index FTSEFTSE ASX TECHNOLOGY INDX-25.13-3.3314.7
25

Commodities YTD Performance

1f40
NameUnitsKeyLastPriceCurrencyYTDChange USDpct1month
Cocking CoalCNY/MTCocking Coal1334CNY28.27-4.17
Brent Crude (ICE)USD/bbl.Oil79.70USD19.922.49
Wheat (CBOT)USd/bu.Wheat5.2025USD18.247.60
Cocoa (ICE)USD/MTCocoa2195.00USD13.55-10.44
Feeder Cattle (CME)USd/lb.Feeder Cattle1.5773USD8.417.43
Orange Juice (ICE)USd/lb.Orange Juice1.466USD7.64-8.63
Oats (CBOT)USd/bu.Oats2.49USD7.104.84
Cotton #2 (ICE)USd/lb.Cotton0.7896USD1.96-5.49
NickelUSD/MTNickel12465USD1.76-15.18
Canola (ICE)CAD/MTCanola486.30CAD-0.84-4.72
SteelUSD/MTSteel516USD-1.71-6.27
Corn (CBOT)USd/bu.Corn3.4525USD-3.43-2.54
Natural Gas (Nymex)USD/MMBtuNatural Gas2.91USD-3.64-1.36
Live Cattle (CME)USd/lb.Live Cattle1.1798USD-3.8913.74
Palladium SpotUSD/t oz.Palladium1039.45USD-4.726.04
3Mo Tin (LME)USD/MT3Mo Tin18870.00USD-5.77-7.61
Ethanol (CBOT)USD/gal.Ethanol1.25USD-8.09-12.59
Gold SpotUSD/t oz.Gold1205.34USD-8.12-7.36
3Mo Aluminum (LME)USD/MT3Mo Aluminum2026.00USD-10.67-10.95
Platinum SpotUSD/t oz.Platinum824.48USD-12.22-9.14
Soybean (CBOT)USd/bu.Soybean8.265USD-14.42-6.45
Rough Rice (CBOT)USD/cwtRough Rice9.98USD-15.14-11.05
Copper (Comex)USd/lb.Copper2.7405USD-16.26-9.96
Silver (Comex)USD/t oz.Silver14.36USD-16.41-12.71
Rubber (Tokyo)JPY/kgRubber169.70JPY-18.02-2.69
Lean Hogs (CME)USd/lb.Lean Hogs0.579USD-18.83-23.53
Lumber (CME)USD/1000 board feetLumber347.20USD-22.90-35.80
Sugar #11 (ICE)USd/lb.Sugar0.1164USD-23.92-4.98
Coffee 'C' (ICE)USd/lb.Coffee0.9670000000000001USD-25.41-16.46
3Mo Zinc (LME)USD/MT3Mo Zinc2434.00USD-26.66-21.20
37

Country USD Yields Ordered By YTD Yield Change

1f40
countryYieldYieldChange
Zambia12.125.90
Turkey10.945.58
Jamaica11.754.94
Lebanon11.794.53
Argentina9.613.93
Ecuador10.043.29
Tunisia8.772.98
Bermuda11.122.47
Russian Federation6.482.07
Sri Lanka6.912.05
Kenya7.611.92
Gabon7.951.90
India6.301.81
Ukraine8.491.70
Cote D'Ivoire (Ivory Coast)7.361.66
Senegal7.181.65
Italy6.591.61
Egypt7.281.50
South Africa6.291.39
China5.961.39
Nigeria7.251.38
Pakistan7.501.36
El Salvador7.601.27
Bahrain7.311.21
Ethiopia7.001.19
Iraq7.561.18
Mongolia6.601.18
Trinidad and Tobago5.271.11
Singapore5.111.08
Brazil6.781.06
Ghana7.111.06
Romania4.381.05
Jordan7.201.02
Dominican Republic5.831.00
Indonesia4.900.97
Belgium6.350.95
Australia5.650.95
Lithuania3.400.93
Serbia4.040.91
Morocco4.780.91
Hong Kong4.690.91
Oman5.640.90
Costa Rica6.880.86
Hungary4.010.85
Bolivia5.820.84
Chile5.170.83
Malaysia4.410.82
Macau5.850.82
Uruguay4.500.79
Kazakhstan5.510.79
Slovak Republic3.270.79
Netherlands5.120.78
Poland3.470.77
Kuwait4.360.76
Philippines4.080.74
Vietnam4.270.72
Peru4.810.71
Mexico5.180.68
Croatia (Hrvatska)3.900.67
Taiwan4.100.65
New Zealand5.720.65
Guatemala5.370.64
Qatar4.420.61
Panama4.700.59
Angola7.570.59
Paraguay5.740.58
Saudi Arabia5.290.58
Colombia5.010.54
Korea (South)4.150.54
United Arab Emirates4.810.53
Supranational4.100.53
Thailand4.600.53
Finland4.550.51
France7.140.47
Azerbaijan5.170.41
Sweden4.410.37
Canada6.380.30
United Kingdom5.800.30
Ireland5.420.26
United States5.660.24
Israel5.34-0.08
Germany4.98-0.16
Switzerland6.96-0.18
Venezuela5.66-1.55
Luxembourg7.39-2.09

Technology Regional Performance Last Month

b9b
SubindustryEuropeEMUGEMWorld
Software & Services: IT Services-1.12-1.12-2.331.64
Technology Hardware & Equipment: Communications Equipment2.150.099.351.05
Software & Services: Software-0.180.183.720.96
Technology Hardware & Equipment: Electronic Equipment & Instruments & Components1.936.59-7.59-0.21
Software & Services Industry Group-0.74-0.70-2.25-0.61
Information Technology Sector-1.77-2.27-2.49-1.34
Technology Hardware & Equipment Industry Group2.090.85-4.08-2.13
Semiconductors & Semiconductor Equipment Industry Group-5.51-5.51-0.80-2.83
Semiconductors & Semiconductor Equipment: Semiconductors & Semiconductor Equipment-5.51-5.51-0.80-2.83
Technology Hardware & Equipment: Technology Hardware, Storage & Peripherals0.000.00-2.48-3.58
Software & Services: Internet Software & Services-4.26-8.30-2.43-5.19

Technology Regional Performance YTD

bb6
SubindustryEuropeEMUGEMWorld
Technology Hardware & Equipment: Communications Equipment26.0619.49-43.8926.99
Software & Services: Software4.9913.76-8.7625.90
Technology Hardware & Equipment: Technology Hardware, Storage & Peripherals0.000.00-10.4624.37
Software & Services: IT Services25.3726.048.4423.87
Technology Hardware & Equipment Industry Group19.4310.21-12.2719.76
Software & Services Industry Group10.9016.51-9.7818.73
Information Technology Sector6.937.79-8.1816.48
Software & Services: Internet Software & Services-6.18-18.61-12.394.77
Semiconductors & Semiconductor Equipment Industry Group-5.02-5.022.443.74
Semiconductors & Semiconductor Equipment: Semiconductors & Semiconductor Equipment-5.02-5.022.443.74
Technology Hardware & Equipment: Electronic Equipment & Instruments & Components3.18-29.76-14.921.20

Technology Performance in Various Countries Last Month

85

Technology Valuation and Growth in Various Countries (Simple Averages)

ec8
CountryPEFy0PEFy12018Growth
RUSSIA0.0033.00116.02
NETHERLANDS14.5023.5036.46
AUSTRALIA22.0021.0029.78
UNITED STATES20.4715.3529.57
JAPAN16.2915.0024.34
SWITZERLAND20.5018.0024.31
SWEDEN22.0023.0018.67
SOUTH KOREA11.0010.2018.53
TAIWAN13.5010.5217.67
BRITAIN29.0018.0017.30
FRANCE20.5014.5013.91
CYPRUS19.0013.0010.09
IRELAND22.0022.009.61
HONG KONG9.006.009.10
GERMANY28.5022.007.95
SPAIN26.0024.006.20
CHINA11.297.145.63
BERMUDA21.0016.002.16
INDIA10.1711.670.35
BRAZIL15.0012.00-0.79
CANADA8.679.67-13.15
FINLAND0.000.00-22.57
1264
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    Valuation and Growth of Various Sectors in Technology

    35
    3e3
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    4ae
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    534
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    Link to Technology Macro Page

    Technology sector trades at 2018 simple average 1d PE Fy1 of 14.4 x and 2018 4b PE Fy2 of 13.2 x

    Technology sector trades at 2018 simple average 20 EV/EBITDA of 9.1 x and 2018 5a EV/EBITDA of 8.2 x

    In terms of Dividend yield Technology sector trades at 2018 1c Yield of 1.5 % and 2018 51 Dividend Yield of 1.6 %

    On ROE basis Technology sector trades at 2018 1b ROE of 13.5 % and 2018 56 ROE of 13.6 %

    Largest Companies in Technology by Market Capitalisation mn$

    18c5
    TickerCompanyCountryIndustrySubIndustryMarketCapUSDmn
    AAPL USApple IncUNITED STATESTechnology Hardware & EquipmenTechnology Hardware, Storage &883588.0
    MSFT USMicrosoft CorpUNITED STATESSoftware & ServicesSystems Software720546.0
    GOOG USAlphabet IncUNITED STATESSoftware & ServicesInternet Software & Services719440.0
    GOOGL USAlphabet IncUNITED STATESSoftware & ServicesInternet Software & Services719440.0
    700 HKTencent Holdings LtdCHINASoftware & ServicesInternet Software & Services493930.0
    FB USFacebook IncUNITED STATESSoftware & ServicesInternet Software & Services476042.0
    BABA USAlibaba Group Holding LtdCHINASoftware & ServicesInternet Software & Services450558.0
    SMSN LISamsung Electronics Co LtdSOUTH KOREATechnology Hardware & EquipmenTechnology Hardware, Storage &300167.0
    005930 KSSamsung Electronics Co LtdSOUTH KOREATechnology Hardware & EquipmenTechnology Hardware, Storage &299148.0
    V USVisa IncUNITED STATESSoftware & ServicesData Processing & Outsourced S249469.0
    INTC USIntel CorpUNITED STATESSemiconductors & SemiconductorSemiconductors246640.0
    2330 TTTaiwan Semiconductor Manufacturing Co LtdTAIWANSemiconductors & SemiconductorSemiconductors216440.0
    CSCO USCisco Systems IncUNITED STATESTechnology Hardware & EquipmenCommunications Equipment208791.0
    ORCL USOracle CorpUNITED STATESSoftware & ServicesSystems Software187296.0
    MA USMastercard IncUNITED STATESSoftware & ServicesData Processing & Outsourced S183782.0
    IBM USInternational Business Machines CorpUNITED STATESSoftware & ServicesIT Consulting & Other Services145609.0
    NVDA USNVIDIA CorpUNITED STATESSemiconductors & SemiconductorSemiconductors142410.0
    SAP GRSAP SEGERMANYSoftware & ServicesApplication Software133423.0
    ADBE USAdobe Systems IncUNITED STATESSoftware & ServicesApplication Software111771.0
    TXN USTexas Instruments IncUNITED STATESSemiconductors & SemiconductorSemiconductors102478.0

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

    1478
    CountryIndustrySubIndustryNumber of companiesMarketCapUSDmn
    SOUTH KOREATechnology Hardware & EquipmenTechnology Hardware, Storage &4668335.0
    SOUTH KOREATechnology Hardware & EquipmenElectronic Components431746.0
    HONG KONGTechnology Hardware & EquipmenElectronic Components14632.0
    TAIWANTechnology Hardware & EquipmenTechnology Hardware, Storage &1968858.0
    TAIWANTechnology Hardware & EquipmenElectronic Components1042637.0
    TAIWANTechnology Hardware & EquipmenElectronic Manufacturing Servi2102240.0
    TAIWANTechnology Hardware & EquipmenTechnology Distributors24909.0
    JAPANTechnology Hardware & EquipmenTechnology Hardware, Storage &587360.0
    JAPANTechnology Hardware & EquipmenElectronic Equipment & Instrum240860.0
    JAPANTechnology Hardware & EquipmenElectronic Components464328.0
    CHINATechnology Hardware & EquipmenCommunications Equipment119583.0
    CHINATechnology Hardware & EquipmenTechnology Hardware, Storage &16183.0
    UNITED STATESTechnology Hardware & EquipmenTechnology Hardware, Storage &8988787.0
    FRANCETechnology Hardware & EquipmenCommunications Equipment10.0
    UNITED STATESTechnology Hardware & EquipmenElectronic Components249427.0
    UNITED STATESTechnology Hardware & EquipmenTechnology Distributors211772.0
    CANADATechnology Hardware & EquipmenTechnology Hardware, Storage &15677.0
    UNITED STATESTechnology Hardware & EquipmenCommunications Equipment6280973.0
    SWEDENTechnology Hardware & EquipmenCommunications Equipment121022.0
    UNITED STATESTechnology Hardware & EquipmenElectronic Manufacturing Servi18833.0

    Top Companies Technology by Dividend Yield

    742
    TickerCompanyCountryIndustrySubIndustryDividendYld_fy1
    2356 TTInventec CorpTAIWANTechnology Hardware & EquipmenTechnology Hardware, Storage &7.0
    3702 TTWPG Holdings LtdTAIWANTechnology Hardware & EquipmenTechnology Distributors7.0
    148 HKKingboard Chemical Holdings LtdHONG KONGTechnology Hardware & EquipmenElectronic Components6.0
    2301 TTLite-On Technology CorpTAIWANTechnology Hardware & EquipmenTechnology Hardware, Storage &6.0
    2324 TTCompal Electronics IncTAIWANTechnology Hardware & EquipmenTechnology Hardware, Storage &6.0

    Cheapest Companies in Technology on FY1 PE

    74f
    TickerCompanyCountryIndustrySubIndustryPE_fy1
    2498 TTHTC CorpTAIWANTechnology Hardware & EquipmenTechnology Hardware, Storage &2.0
    000660 KSSK Hynix IncSOUTH KOREASemiconductors & SemiconductorSemiconductors4.0
    MU USMicron Technology IncUNITED STATESSemiconductors & SemiconductorSemiconductors4.0
    148 HKKingboard Chemical Holdings LtdHONG KONGTechnology Hardware & EquipmenElectronic Components6.0
    3800 HKGCL-Poly Energy Holdings LtdHONG KONGSemiconductors & SemiconductorSemiconductor Equipment6.0


    Earnings Relises and Dividends

    4c4
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