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Monthly Strategy July 2016

Table of Contents


Turkey Stance
     Turkey Valuations
     Turkey Top Stock Picks
     Turkey Top Bond Picks
     Turkey Last Month Performance Review

South Africa Stance
     South Africa Valuations
     South Africa Top Stock Picks
     South Africa Top Bond Picks
     South Africa Last Month Performance Review

Russia Stance
     Russia Valuations
     Russia Top Stock Picks
     Russia Top Bond Picks
     Russia Last Month Performance Review

Korea Stance
     Korea Valuations
     Korea Top Stock Picks
     Korea Top Bond Picks
     Korea Last Month Performance Review

India Stance
     India Valuations
     India Top Stock Picks
     India Top Bond Picks
     India Last Month Performance Review

China Stance
     China Valuations
     China Top Stock Picks
     China Top Bond Picks
     China Last Month Performance Review

Canada Stance
     Canada Valuations
     Canada Top Stock Picks
     Canada Top Bond Picks
     Canada Last Month Performance Review

Brazil Stance
     Brazil Valuations
     Brazil Top Stock Picks
     Brazil Top Bond Picks
     Brazil Last Month Performance Review

Australia Stance
     Australia Valuations
     Australia Top Stock Picks
     Australia Top Bond Picks
     Australia Last Month Performance Review

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We are still positive on emerging markets asset class.Emerging markets should react positively to weaker yuan. While effects of Brexit are somewhat negative.

India has been delivering lackluster performance for some time now, unable to capitalize on its growth, given that market rallied couple of time in the past pricing biggest emerging markets growth. Investors are waiting for the growth to feed through the multiples, which is ongoing only slowly the lack of transparency reform.

Turkey has been a lackluster market in 2016. Mostly due to geological risk premium and quarrels with Russia which dampened economic growth. Half of the problems i.e. with Russia has been solved as Putin and Erdogan figuratively shook hands and Russian tourists are expected to flood Turkey beaches, while Turkey is expected to start supplying Russia with food.

Brazil market has been one of the biggest winners on the emerging markets this year we expect some profit taking as the rally in Brazil stocks has been mostly driven by political risk removal while economic story for Brazil remains lackluster and highly dependent on commodities markets which are lagging again.

Australian markets barely remained positive this year and can tank now given that political still mate and possible correction in commodities prices.

Canada markets have been supported by commodities rally this year TSX Index up almost 7% ytd. Yet domestic story for Canada has been lagging.

Russia has been one of the stronger markets this year supported by higher oil prices and unwinding of some political risk as consensus builds among investors that Putin is more unlikely to put himself for another 6 years in 2018. Privatization themes add further positives to the markets.

China has been a laggard market this year. Yet the commodities and mining stocks have been a winning sector. We expect that some devaluation will further add a driver for China markets and for emerging markets overall.

South Africa is another lackluster market this year it is still marginally up mostly due to strength in gold names. However South Africa is much more a domestic market with very developed consumer goods and financials sectors. Rather than a commodity exporter while both sectors were under slight pressure due to weak economic growth.

Korean stocks have been pretty well supported by the tech sector. Yet an equal weight Korean index produced 30% outperformance over Kospi.


















Turkey Performance Snapshot

Index 1 month Ch%YTD Ch%1 year Ch%
XU100:IND -2.874.80-8.18
MSCI Turkey 2.5310.46-11.38
MSCI GEM 3.945.68-13.68
MSCI BRIC 2.873.09-18.47
MSCI World -0.370.43-5.30

Indexes YTD performance %

MSCI IndexYTDChange
PERU48.6
BRAZIL44.6
BRAZIL ADR43.8
EM LATIN AMERICA24.9
EFM LATIN AMERICA & CARIBBEAN INDEX24.6
COLOMBIA24.1
ANDEAN22.2
RUSSIA ADR/GDR21.1
EM LATIN AMERICA WITH BRAZIL ADR20.1
RUSSIA19.7
THAILAND17.9
NEW ZEALAND16.9
EM ex ASIA16.4
SOUTH AFRICA15.1
CANADA14.5
CHILE14.2
INDONESIA13.7
PHILIPPINES12.8
EFM AFRICA12.0
EMERGING + FRONTIER MARKETS WORKFORCE11.8
EM EASTERN EUROPE11.5
TURKEY10.5
EM EMEA10.2
SOUTH EAST ASIA9.0
HUNGARY8.9
EM EUROPE8.6
TAIWAN8.5
EFM EUROPE + CIS (E+C)8.3
EFM EMEA8.3
EM LATIN AMERICA ex BRAZIL7.9
EMERGING MARKETS HORIZON7.0
EM EUROPE & MIDDLE EAST6.7
EM 506.2
EM (EMERGING MARKETS)5.7
EFM (EMERGING + FRONTIER MARKETS)5.5
MALAYSIA5.4
EM WITH BRAZIL + INDIA + RUSSIA DR5.2
KOREA5.2
EM WITH BRAZIL ADR4.8
UNITED ARAB EMIRATES4.8
NORWAY3.9
SINGAPORE3.8
INDIA DOMESTIC3.3
NORTH AMERICA3.2
BRIC3.1
USA2.7
EM FAR EAST1.7
MEXICO1.7
EM ASIA1.6
EFM ASIA1.6
ASIA APEX 501.4
UNITED ARAB EMIRATES DOMESTIC1.2
BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
INDIA1.0
BRIC WITH BRAZIL ADR0.9
AUSTRALIA0.9
PACIFIC ex JAPAN0.7
JORDAN + EGYPT + MOROCCO0.6
World0.4
KOKUSAI INDEX (WORLD ex JP)0.4
G7 INDEX0.4
WORLD WITH USA GROSS-0.2
BELGIUM-0.7
DENMARK-1.2
PORTUGAL-1.4
HONG KONG-1.7
EFM EUROPE + CIS (E+C) ex RU-1.8
NETHERLANDS-3.1
EM (EMERGING MARKETS)+CHINA A-3.5
PACIFIC-3.8
EAFE + CANADA-4.1
EFM CEEC ex RU-4.1
NORDIC COUNTRIES-4.4
EM EASTERN EUROPE ex RUSSIA-4.5
CZECH REPUBLIC-4.8
EUROPE ex EMU-4.9
CHINA 50-4.9
QATAR-5.0
FAR EAST-5.1
UNITED KINGDOM-5.1
SWITZERLAND-5.1
FRANCE-5.2
EASEA INDEX (EAFE ex JAPAN)-5.5
EAFE ex ISRAEL-5.5
EAFE-5.6
EAFE ex UK-5.7
JAPAN-6.0
NIHONKABU-6.2
PAN-EURO-6.3
EUROPE-6.4
CHINA-6.5
EUROPE & MIDDLE EAST-6.5
EGYPT-6.5
SWEDEN-6.6
EUROPE ex SWITZERLAND-6.7
EU-6.8
EUROPE ex UK-7.0
POLAND-7.3
QATAR DOMESTIC-7.8
EMU ex GERMANY-7.9
EMU-8.2
EURO-8.5
FINLAND-8.7
GERMANY-8.9
EFM AFRICA ex ZA-10.1
AUSTRIA-11.5
SPAIN-11.5
CHINA A 50-12.9
IRELAND-13.4
ISRAEL-14.2
ITALY-22.4
GREECE-25.8

Indexes 1m performance %

IndexLastChnge
Jakarta Stock Exchange Composite Index5016.1094.39
Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
Karachi Stock Exchange KSE100 Index37786.573.87
FTSE 100 Index6360.061.19
Shanghai Stock Exchange Composite Index2930.5490.48
S&P BSE SENSEX Index26740.390.35
Russian Trading System Cash Index930.150.16
Hong Kong Hang Seng Index20791.68-0.28
S&P/TSX Composite Index14036.74-0.35
Korea Stock Exchange KOSPI Index1966.52-0.85
Dow Jones Industrial Average17694.68-1.00
Russian Depositary Index USD1069.58-1.15
Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
S&P 500 Index2070.77-1.35
MICEX Index1888.15-2.62
Borsa Istanbul 100 Index76711.97-2.87
Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
FTSE/JSE Africa All Share Index51890.42-4.74
Deutsche Boerse AG German Stock Index DAX9612.27-7.18
Nikkei 22515694.81-8.94

Currencies 1m performance %

TickerLastChnge
USDNGN:CUR282.541.92
USDGEL:CUR2.3559.92
USDGBP:CUR0.74599.18
USDARS:CUR14.9687.27
USDTND:CUR2.21975.51
USDAZN:CUR1.54794.24
USDCRC:CUR546.632.08
USDSEK:CUR8.46931.59
USDKZT:CUR338.991.01
USDHUF:CUR285.181.00
USDCNH:CUR6.65470.97
USDCNY:CUR 6.64330.88
USDINR:CUR 67.6850.70
USDRON:CUR4.07620.70
USDPLN:CUR3.97860.60
USDHRK:CUR6.76770.60
USDEGP:CUR8.87960.55
USDPHP:CUR46.9930.47
USDCZK:CUR24.40320.47
USDRSD:CUR110.98810.34
USDNOK:CUR 8.39660.32
USDKES:CUR101.250.32
USDTTD:CUR6.65150.30
USDMXN:CUR18.52910.30
USDMAD:CUR9.79210.22
USDBAM:CUR1.76060.20
USDDKK:CUR6.69580.17
USDLBP:CUR1513.750.15
USDBGN:CUR1.76060.15
USDLTL:CUR3.10820.14
USDNLG:CUR1.98380.14
USDEUR:CUR 0.90020.13
USDLVL:CUR0.63260.13
USDBHD:CUR0.377320.08
USDQAR:CUR3.64130.03
USDSAR:CUR3.75060.01
USDOMR:CUR0.3850.00
USDAED:CUR3.67290.00
USDVEF:CUR9.98750.00
USDPAB:CUR10.00
USDBSD:CUR10.00
USDBBD:CUR20.00
USDBDT:CUR78.35-0.04
USDHKD:CUR7.7586-0.12
USDJOD:CUR0.7082-0.16
USDPKR:CUR104.68-0.17
USDKWD:CUR0.30185-0.17
USDVND:CUR22300-0.42
USDMDL:CUR19.82-0.43
USDCAD:CUR 1.2946-0.80
USDTWD:CUR32.275-1.03
USDUAH:CUR24.8864-1.15
USDCHF:CUR0.9799-1.30
USDLKR:CUR146.25-1.32
USDISK:CUR123.5-1.32
USDTHB:CUR35.207-1.48
USDTRL:CUR 2894310-2.04
USDTRY:CUR2.8943-2.04
USDPEN:CUR3.2887-2.30
USDSGD:CUR1.3491-2.33
USDMYR:CUR4.02-2.70
USDAUD:CUR 1.3433-2.86
USDIDR:CUR13179-3.24
USDRUB:CUR 63.8022-3.28
USDKRW:CUR 1152.54-3.30
USDCLP:CUR661.95-4.15
USDCOP:CUR2915.6-5.00
USDNZD:CUR1.4091-5.37
USDZAR:CUR 14.8227-6.12
USDJPY:CUR 102.77-7.59
USDBRL:CUR 3.2206-9.78

Bond rates 1m performance %

countryyield1wk1d1m1y
GREECE 7.97%0.94 -41 +91 -663
PORTUGAL 3.05%0.05 -6 +4 +1
ITALY 1.37%0.01 -3 +2 -102
INDIA 7.44%-0.02 -1 -3 -45
JAPAN » -0.23%-0.11 +1 -12 --
MEXICO 5.88%-0.22 -7 -20 -17
SPAIN 1.25%-0.22 -6 -23 -109
CANADA 1.12%-0.23 +5 -22 -62
NEW ZEALAND 2.33%-0.26 +4 -22 --
SWITZERLAND -0.62%-0.27 -2 -25 -67
NETHERLANDS 0.10%-0.28 -2 -24 -96
AUSTRALIA » 2.00%-0.29 +2 -25 --
GERMANY » -0.13%-0.30 -1 -26 -92
FRANCE 0.21%-0.30 -3 -25 -102
HONG KONG 0.93%-0.30 +0 -- --
SINGAPORE 1.92%-0.30 +6 -- --
SOUTH KOREA 1.46%-0.34 -1 -32 --
UNITED STATES » 1.51%-0.36 +5 -34 -81
UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
BRAZIL 12.12%-0.75 +10 -91 -53

Commodities 1m performance %

nameunitsPriceChng
NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
SugarUSD/LB.21.0119.92
CoffeeUSD/LB.144.4519.08
SilverUSD/T OZ.18.3313.92
PalladiumUSD/T OZ.592.368.72
GOLDUSD/T OZ.1316.158.62
Copper$/t4838.003.05
PlatinumUSD/T OZ.1004.332.78
HogsUSD/LB.83.332.78
COCOAUSD/MT3034.000.97
OIL BrentUSD/BBL.49.990.73
RiceUSD/CWT10.930.28
CattleUSD/LB.114.13-1.98

Best Stocks 1m in USD %ch

NameChngePctCountry
Tofas Turk Otomobil Fabrikasi AS (TOASO:TI)7.18Turkey
Emlak Konut Gayrimenkul Yatirim Ortakligi AS (EKGYO:TI)3.82Turkey
Akbank TAS (AKBNK:TI)3.78Turkey
Enka Insaat ve Sanayi AS (ENKAI:TI)3.78Turkey
Eregli Demir ve Celik Fabrikalari TAS (EREGL:TI)2.63Turkey
Turkiye Sise ve Cam Fabrikalari AS (SISE:TI)2.36Turkey
Turkiye Is Bankasi (ISCTR:TI)2.02Turkey
Anadolu Efes Biracilik Ve Malt Sanayii AS (AEFES:TI)1.36Turkey
Turkiye Garanti Bankasi AS (GARAN:TI)1.09Turkey
Arcelik AS (ARCLK:TI)0.34Turkey

Worst Stocks 1m in USD %

NameChngePctCountry
TAV Havalimanlari Holding AS (TAVHL:TI)-17.59Istanbul, 34149 Turkey
Ford Otomotiv Sanayi AS (FROTO:TI)-10.24Turkey
Turk Hava Yollari AO (THYAO:TI)-9.27Turkey
Koza Altin Isletmeleri AS (KOZAL:TI)-7.95Turkey
Turkiye Halk Bankasi AS (HALKB:TI)-7.16Turkey
Coca-Cola Icecek AS (CCOLA:TI)-5.62Turkey
Tupras Turkiye Petrol Rafinerileri AS (TUPRS:TI)-4.86Turkey
Turkcell Iletisim Hizmetleri AS (TCELL:TI)-3.59Turkey
Yapi ve Kredi Bankasi AS (YKBNK:TI)-2.73Turkey
BIM Birlesik Magazalar AS (BIMAS:TI)-2.45Turkey

Best Stocks YTD in USD %

NameChngePctCountry
Arcelik AS (ARCLK:TI)52.58Turkey
Eregli Demir ve Celik Fabrikalari TAS (EREGL:TI)51.33Turkey
Tofas Turk Otomobil Fabrikasi AS (TOASO:TI)39.16Turkey
Akbank TAS (AKBNK:TI)29.45Turkey
KOC Holding AS (KCHOL:TI)25.38Turkey
Yapi ve Kredi Bankasi AS (YKBNK:TI)23.15Turkey
Turkiye Sise ve Cam Fabrikalari AS (SISE:TI)22.48Turkey
Turkiye Vakiflar Bankasi TAO (VAKBN:TI)21.65Turkey
Haci Omer Sabanci Holding AS (SAHOL:TI)19.29Turkey
Turk Telekomunikasyon AS (TTKOM:TI)17.86Turkey

Worst Stocks YTD in USD %

NameChngePctCountry
TAV Havalimanlari Holding AS (TAVHL:TI)-26.79Istanbul, 34149 Turkey
Turk Hava Yollari AO (THYAO:TI)-20.44Turkey
Turkiye Halk Bankasi AS (HALKB:TI)-15.28Turkey
Coca-Cola Icecek AS (CCOLA:TI)-6.04Turkey
Tupras Turkiye Petrol Rafinerileri AS (TUPRS:TI)-2.83Turkey
Turkiye Is Bankasi (ISCTR:TI)4.93Turkey
Anadolu Efes Biracilik Ve Malt Sanayii AS (AEFES:TI)5.48Turkey
Turkcell Iletisim Hizmetleri AS (TCELL:TI)8.05Turkey
Ford Otomotiv Sanayi AS (FROTO:TI)9.15Turkey
Enka Insaat ve Sanayi AS (ENKAI:TI)12.28Turkey

Sector Performance 1m in USD %

sectorChngePct
Industrials-17.59
Consumer Discretionary-3.07
Energy-2.93
Consumer Staples-2.24
Communications-1.73
Materials-0.98
Financials0.05
Utilities3.78

Sector Performance YTD in USD %

sectorChngePct
Industrials-26.79
Consumer Staples4.30
Energy11.27
Utilities12.28
Communications12.95
Financials14.18
Consumer Discretionary19.67
Materials28.95

Table of Contents


Turkey Stance
     Turkey Valuations
     Turkey Top Stock Picks
     Turkey Top Bond Picks
     Turkey Last Month Performance Review

South Africa Stance
     South Africa Valuations
     South Africa Top Stock Picks
     South Africa Top Bond Picks
     South Africa Last Month Performance Review

Russia Stance
     Russia Valuations
     Russia Top Stock Picks
     Russia Top Bond Picks
     Russia Last Month Performance Review

Korea Stance
     Korea Valuations
     Korea Top Stock Picks
     Korea Top Bond Picks
     Korea Last Month Performance Review

India Stance
     India Valuations
     India Top Stock Picks
     India Top Bond Picks
     India Last Month Performance Review

China Stance
     China Valuations
     China Top Stock Picks
     China Top Bond Picks
     China Last Month Performance Review

Canada Stance
     Canada Valuations
     Canada Top Stock Picks
     Canada Top Bond Picks
     Canada Last Month Performance Review

Brazil Stance
     Brazil Valuations
     Brazil Top Stock Picks
     Brazil Top Bond Picks
     Brazil Last Month Performance Review

Australia Stance
     Australia Valuations
     Australia Top Stock Picks
     Australia Top Bond Picks
     Australia Last Month Performance Review


















Turkey



Our Stance

Turkey has been a lackluster market in 2016. Mostly due to geological risk premium and quarrels with Russia which dampened economic growth. Half of the problems i.e. with Russia has been solved as Putin and Erdogan figuratively shook hands and Russian tourists are expected to flood Turkey beaches, while Turkey is expected to start supplying Russia with food.




Turkey Last Month Review

Turkey XU100:IND Index lost-2.87% last month. To finish the month at 76711.97

MSCI Turkey Index gained 2.53% last month. Its overall up 10.46% since the beginning of the year.

At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

TRL last month gained 2.04% against US dollar. To finish the month at 2894310per USD.

Sovereign eurobonds are trading with average yield of 4.25% and tightened by -0.49% last month.

Corporate eurobonds are trading with average yield of 3.76% and tightened by -0.40% last month.

Local currency bonds are trading with average yield of 8.88% and tightened by -0.54% last month.

While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

Best stocks last month in Turkey included Tofas Turk Otomobil Fabrikasi AS (TOASO:TI) +7.18%, Emlak Konut Gayrimenkul Yatirim Ortakligi AS (EKGYO:TI) +3.82%, Akbank TAS (AKBNK:TI) +3.78%, Enka Insaat ve Sanayi AS (ENKAI:TI) +3.78%, Eregli Demir ve Celik Fabrikalari TAS (EREGL:TI) +2.63%, Turkiye Sise ve Cam Fabrikalari AS (SISE:TI) +2.36%, Turkiye Is Bankasi (ISCTR:TI) +2.02%, Anadolu Efes Biracilik Ve Malt Sanayii AS (AEFES:TI) +1.36%, Turkiye Garanti Bankasi AS (GARAN:TI) +1.09%, Arcelik AS (ARCLK:TI) +0.34%, .

Worst stocks last month included TAV Havalimanlari Holding AS (TAVHL:TI) -17.59%, Ford Otomotiv Sanayi AS (FROTO:TI) -10.24%, Turk Hava Yollari AO (THYAO:TI) -9.27%, Koza Altin Isletmeleri AS (KOZAL:TI) -7.95%, Turkiye Halk Bankasi AS (HALKB:TI) -7.16%, Coca-Cola Icecek AS (CCOLA:TI) -5.62%, Tupras Turkiye Petrol Rafinerileri AS (TUPRS:TI) -4.86%, Turkcell Iletisim Hizmetleri AS (TCELL:TI) -3.59%, Yapi ve Kredi Bankasi AS (YKBNK:TI) -2.73%, BIM Birlesik Magazalar AS (BIMAS:TI) -2.45%,

Best stocks YTD included Arcelik AS (ARCLK:TI) +52.58%, Eregli Demir ve Celik Fabrikalari TAS (EREGL:TI) +51.33%, Tofas Turk Otomobil Fabrikasi AS (TOASO:TI) +39.16%, Akbank TAS (AKBNK:TI) +29.45%, KOC Holding AS (KCHOL:TI) +25.38%, Yapi ve Kredi Bankasi AS (YKBNK:TI) +23.15%, Turkiye Sise ve Cam Fabrikalari AS (SISE:TI) +22.48%, Turkiye Vakiflar Bankasi TAO (VAKBN:TI) +21.65%, Haci Omer Sabanci Holding AS (SAHOL:TI) +19.29%, Turk Telekomunikasyon AS (TTKOM:TI) +17.86%,

While worst stocks YTD included TAV Havalimanlari Holding AS (TAVHL:TI) -26.79%, Turk Hava Yollari AO (THYAO:TI) -20.44%, Turkiye Halk Bankasi AS (HALKB:TI) -15.28%, Coca-Cola Icecek AS (CCOLA:TI) -6.04%, Tupras Turkiye Petrol Rafinerileri AS (TUPRS:TI) -2.83%, Turkiye Is Bankasi (ISCTR:TI) 4.93%, Anadolu Efes Biracilik Ve Malt Sanayii AS (AEFES:TI) 5.48%, Turkcell Iletisim Hizmetleri AS (TCELL:TI) 8.05%, Ford Otomotiv Sanayi AS (FROTO:TI) 9.15%, Enka Insaat ve Sanayi AS (ENKAI:TI) 12.28%,

In terms of sector performance last month

the best sectors included Utilities +3.78%, Financials +0.05%, Materials-0.98%,

While worst sector performance last month showed Industrials -17.59%, Consumer Discretionary -3.07%, Energy -2.93%,

YTD the best sectors remain Materials +28.95%, Consumer Discretionary +19.67%, Financials +14.18%,

While the worst sectors are Industrials -26.79%, Consumer Staples 4.30%, Energy 11.27%,

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Some Political news headlines for Turkey include:

  • On World Press Freedom Day, Turkish Journalist on Trial for ...
  • Turkey's Ahmet Davutoglu pressures Angela Merkel, says visa ...
  • Turkey, Croatia set sights on $1B trade volume
  • Middle East's many border barriers: do good fences really make ...
  • Mr. Erdogan Will See You Now: Welcome to Banking's Toughest Job
  • Turkey\'s PM unveils new cabinet

    While some economic events and news headlines include:

    2016-06-01--Turkey Markit Manufacturing PMI MAY

  • Turkey's PMI weakens to lowest in over seven years in June
  • Weak Global PMI Rounds Off Worst Quarter In 3 Years

    2016-06-03--Turkey Inflation Rate YoY MAY

  • Fitch: Reforms Key to Durable Turkish Macroeconomic Improvement
  • Emerging Markets Weekly Update

    2016-06-03--Turkey Inflation Rate MoM MAY

  • The world's losers are revolting, and Brexit is only the beginning
  • Trump attacks Clinton: CNN's Reality Check Team inspects the claims

    2016-06-03--Turkey PPI MoM MAY

  • ISIS Math Education Starts With Banning the Plus Sign
  • Banks may launch 'divorce mortgages' to spare couples agony of ...

    2016-06-03--Turkey PPI YoY MAY

  • Is China Iron Ore Demand Recovering?
  • Lloyds Banking Group PLC (ADR) Stock Dips After Drop in Profits

    2016-06-10--Turkey GDP Growth Rate QoQ Q1

  • Global house price boom continues
  • Still Long De' Longhi, Even Without WMF

    2016-06-10--Turkey GDP Growth Rate YoY Q1

  • Post-Brexit: Week One
  • Economists agree on 4.5 pct growth for today's Q1 data

    2016-06-07--Turkey Treasury Cash Balance MAY

  • In a world of low rates, what else can the RBA and central banks do
  • Brexit Fallout, Spain Poll, Wimbledon: Week Ahead June 25-July 2

    2016-06-08--Turkey Industrial Production YoY APR

  • DAX 30 Sees Massive Slide Lower, much like Global Bonds
  • Beaufort Securities Breakfast Alert: Armadale Capital, Amphion ...

    2016-06-08--Turkey Retail Sales MoM APR

  • 'Gangster turkey' crashes into N.J. home, terrorizes mom and kids
  • FDA to extend tobacco regulations to e-cigarettes, other products

    2016-06-08--Turkey Retail Sales YoY APR

  • Fitch Affirms BNP Paribas at 'A+'; Outlook Stable
  • Brazilian Real Outshines Emerging Economies' Currencies

    2016-06-10--Turkey Current Account APR

  • Monarch Airlines restructure Part 1: a solid return to profit, with ...
  • Form NSAR-A PRUDENTIAL INVESTMENT For: Apr 30

    2016-06-15--Turkey Unemployment Rate MAR

  • RHB Sukuk Weekly: Moodys' Raised Emaar Sukuk to Baa3 and EIB ...
  • Turkey's Media Crackdown Knows No Borders

    2016-06-17--Turkey Construction Output YoY Q1

  • Caspian Overview: Cash Again from Kashagan
  • Beaufort Securities Breakfast Alert: BP, Fuller Smith & Turner, Tesco

    2016-06-22--Turkey Consumer Confidence JUN

  • Turkish June consumer confidence up to 69.43 points- statistics ...
  • Read the Remarks From the 'Three Amigos' Summit Press Conference

    2016-06-24--Turkey Business Confidence JUN

  • Editorial Roundup: Excerpts from recent editorials
  • Planes, Trains, Autos — A haven from Mideast chaos is on the move

    2016-06-24--Turkey Capacity Utilization JUN

  • Schnitzer Steel's (SCHN) CEO Tamara Lundgren on Q3 2016 ...
  • US stocks close lower for 5th day after Fed meeting

    2016-06-20--Turkey Central Government Debt MAY

  • Debt Boom That Put JPMorgan on Top After Decade Gathers Pace
  • Vladimir Putin Has a Plan for Destroying the West—and It Looks a ...

    2016-06-21--Turkey TCMB Interest Rate Decision

  • Erdoganomics
  • Pound to Euro (GBP/EUR), Sterling to Turkish Lira (GBP/TRY ...

    2016-06-21--Turkey TCMB Overnight Lending Rate

  • Sell-off of Turkish stocks continues for fourth consecutive week
  • Best Oil Price in 3 Weeks, Pound Sterling to Ruble Exchange Rate ...

    2016-07-04--Turkey Inflation Rate YoY JUN

  • Fitch: Reforms Key to Durable Turkish Macroeconomic Improvement
  • Emerging Markets Weekly Update

    2016-07-04--Turkey Inflation Rate MoM JUN

  • Brazilian Real Outshines Emerging Economies' Currencies
  • DAX 30 Gains while German Debt hits Record Low on Global ...

    2016-07-04--Turkey PPI MoM JUN

  • Former RBS chief Fred Goodwin won't be charged over company's ...
  • Reactiv Media boss avoids £75000 fine after putting his cold call ...

    2016-07-04--Turkey PPI YoY JUN

  • DAX 30: To Bounce Back on a Strong NFP?
  • DAX 30 Prepares To Tackle Important 10000 Level Next Week As ...

    2016-07-05--Turkey End of Ramadan

  • Many Muslim countries marking end of Ramadan one day after Turkey
  • Forgotten Ottoman Eid traditions make comeback in Turkey

    2016-07-06--Turkey End of Ramadan

  • Many Muslim countries marking end of Ramadan one day after Turkey
  • Forgotten Ottoman Eid traditions make comeback in Turkey

    2016-07-07--Turkey End of Ramadan

  • Many Muslim countries marking end of Ramadan one day after Turkey
  • Forgotten Ottoman Eid traditions make comeback in Turkey

  • Anti-terror, security expenses boost Turkey's economic growth
  • Turkey's economic growth soars in first quarter of 2016

  • Samsung Group And Apple Eye Turkey For Growth
  • Technology Is The Path To Turkey's Future

  • Samsung Group And Apple Eye Turkey For Growth
  • Technology Is The Path To Turkey's Future

  • Turkey's 2.9 pct growth in 2014 fails to meet target
  • Turkish PMI dips to 6-year low, exports contract by 14 pct in March

  • Greece's cash crunch
  • Turkey runs deficit in February due to infrastructure, interest ...

  • Turkish Treasury to repay $16.5 billion of debt by June

    Companies Reported last month include:

    Best Stocks Last Month and News

    Tofas Turk Otomobil Fabrikasi AS (TOASO:TI)+7.18%

    Emlak Konut Gayrimenkul Yatirim Ortakligi AS (EKGYO:TI)+3.82%

  • Şubat ayında bu hisselere dikkat!

    Akbank TAS (AKBNK:TI)+3.78%

    Enka Insaat ve Sanayi AS (ENKAI:TI)+3.78%

    Eregli Demir ve Celik Fabrikalari TAS (EREGL:TI)+2.63%

    Turkiye Sise ve Cam Fabrikalari AS (SISE:TI)+2.36%

  • Turkey Stocks: Koc, Sabanci, Sisecam, Anadolu Cam, Trakya Cam

    Turkiye Is Bankasi (ISCTR:TI)+2.02%

    Anadolu Efes Biracilik Ve Malt Sanayii AS (AEFES:TI)+1.36%

    Turkiye Garanti Bankasi AS (GARAN:TI)+1.09%

  • Huawei P9 Haziran ayı ortasında Türkiye'de

    Arcelik AS (ARCLK:TI)+0.34%

  • KKDF'nin kaldırılması hisseler nasıl etkileyecek?

    Worst Stocks Last Month and News

    TAV Havalimanlari Holding AS (TAVHL:TI) -17.59%

  • Ekim ayında 'AL'ınabilecek hisseler

    Ford Otomotiv Sanayi AS (FROTO:TI) -10.24%

    Turk Hava Yollari AO (THYAO:TI) -9.27%

  • Şubat ayında bu hisselere dikkat!

    Koza Altin Isletmeleri AS (KOZAL:TI) -7.95%

    Turkiye Halk Bankasi AS (HALKB:TI) -7.16%

    Coca-Cola Icecek AS (CCOLA:TI) -5.62%

    Tupras Turkiye Petrol Rafinerileri AS (TUPRS:TI) -4.86%

    Turkcell Iletisim Hizmetleri AS (TCELL:TI) -3.59%

  • Mikhail Fridman

    Yapi ve Kredi Bankasi AS (YKBNK:TI) -2.73%

    BIM Birlesik Magazalar AS (BIMAS:TI) -2.45%

    Valuations




    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    TAV Havalimanlari Holding ASTAVHL:TIIstanbul, 34149 Turkey Transport Support Services1528.017.75%7.531.4318.9958.36-35.7042.69
    Tofas Turk Otomobil Fabrikasi ASTOASO:TITurkey Automobiles4328.282.87%14.651.188.0542.0542.6886.70
    BIM Birlesik Magazalar ASBIMAS:TITurkey Food & Drug Stores5929.171.74%28.100.963.4248.8920.2453.02
    Turkiye Sise ve Cam Fabrikalari ASSISE:TITurkey Non Wood Building Materials2380.733.58%10.590.969.0737.9117.4862.44
    Akbank TASAKBNK:TITurkey Banks11483.061.78%9.591.6417.1017.0711.4944.64
    KOC Holding ASKCHOL:TITurkey Refining & Marketing11459.562.19%9.290.485.1720.3510.7735.56
    Emlak Konut Gayrimenkul Yatirim Ortakligi ASEKGYO:TITurkey Real Estate Services3778.653.31%10.776.4359.7035.6510.05103.20
    Turkiye Vakiflar Bankasi TAOVAKBN:TITurkey Banks3882.170.88%251.520.700.28221.347.67-13.66
    Eregli Demir ve Celik Fabrikalari TASEREGL:TITurkey Steel Producers5017.887.13%15.471.278.21110.306.73118.34
    Tupras Turkiye Petrol Rafinerileri ASTUPRS:TITurkey Refining & Marketing5444.9210.18%6.790.446.4869.122.6680.05
    Yapi ve Kredi Bankasi ASYKBNK:TITurkey Banks5921.33-8.270.8310.04-0.002.4912.83
    Ford Otomotiv Sanayi ASFROTO:TITurkey Automobiles3883.886.15%14.000.664.7186.10-1.5383.86
    Haci Omer Sabanci Holding ASSAHOL:TITurkey Banks6552.361.59%8.870.616.8814.10-2.6818.00
    Enka Insaat ve Sanayi ASENKAI:TITurkey Power Generation6450.541.69%12.251.5912.9820.70-2.9727.03
    Turkiye Garanti Bankasi ASGARAN:TITurkey Banks11127.531.74%8.881.3314.9815.45-4.6225.50
    Turk Telekomunikasyon ASTTKOM:TITurkey Telecom Carriers7270.563.94%16.571.438.6365.29-9.3056.61
    Turkiye Is BankasiISCTR:TITurkey Banks7096.543.71%6.260.6810.8623.22-12.9823.42
    Turkcell Iletisim Hizmetleri ASTCELL:TITurkey Telecom Carriers7993.875.11%9.421.8019.1148.14-13.4352.96
    Coca-Cola Icecek ASCCOLA:TITurkey Beverages3100.970.33%38.221.333.4812.61-18.07-31.63
    Anadolu Efes Biracilik Ve Malt Sanayii ASAEFES:TITurkey Beverages3917.931.26%154.531.130.73194.71-21.7027.78
    Turkiye Halk Bankasi ASHALKB:TITurkey Banks3639.712.17%4.830.5912.2210.48-25.391.04
    Turk Hava Yollari AOTHYAO:TITurkey Airlines2692.66-5.730.274.71-0.00-34.35-26.79
    Koza Altin Isletmeleri ASKOZAL:TITurkey Precious Metal Mining671.55-4.862.6153.70-0.00-47.679.74
    Arcelik ASARCLK:TITurkey Home Improvement4754.301.88%15.430.946.0929.0144.6072.84

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications15264.411.710.3794505.856.343.34.63.212.818.2-29.714.113.6-0.5-11.5-0.7
    Consumer Discretionary15659.112.06.6509681.041.827.03.52.013.216.4-19.56.19.63.519.13.1
    Consumer Staples12948.19.97.5584775.336.438.01.31.831.628.212.12.610.37.7-1.612.3
    Energy16904.513.012.6973390.436.140.84.84.48.512.4-31.55.69.74.18.2-21.0
    Financials53481.441.032.82543065.716.126.02.14.08.48.8-4.515.320.45.1-0.73.2
    Industrials1528.01.25.8453138.258.423.47.81.87.518.6-59.719.011.4-7.6-35.722.9
    Materials8070.26.27.6590209.429.627.56.03.113.118.1-27.612.29.8-2.45.4-0.1
    Utilities6450.55.03.7288099.020.732.21.73.112.312.4-0.813.013.40.4-3.0-5.6

    Top 5 Turkey Index Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Eregli Demir ve Celik Fabrikalari TASEREGL:TITurkey Steel Producers5017.887.13%15.471.278.21110.306.73118.34
    Emlak Konut Gayrimenkul Yatirim Ortakligi ASEKGYO:TITurkey Real Estate Services3778.653.31%10.776.4359.7035.6510.05103.20
    Tofas Turk Otomobil Fabrikasi ASTOASO:TITurkey Automobiles4328.282.87%14.651.188.0542.0542.6886.70
    Ford Otomotiv Sanayi ASFROTO:TITurkey Automobiles3883.886.15%14.000.664.7186.10-1.5383.86
    Tupras Turkiye Petrol Rafinerileri ASTUPRS:TITurkey Refining & Marketing5444.9210.18%6.790.446.4869.122.6680.05

    Top 5 Turkey Index Short Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Coca-Cola Icecek ASCCOLA:TITurkey Beverages3100.970.33%38.221.333.4812.61-18.07-31.63
    Turk Hava Yollari AOTHYAO:TITurkey Airlines2692.66-5.730.274.71-0.00-34.35-26.79
    Turkiye Vakiflar Bankasi TAOVAKBN:TITurkey Banks3882.170.88%251.520.700.28221.347.67-13.66
    Turkiye Halk Bankasi ASHALKB:TITurkey Banks3639.712.17%4.830.5912.2210.48-25.391.04
    Koza Altin Isletmeleri ASKOZAL:TITurkey Precious Metal Mining671.55-4.862.6153.70-0.00-47.679.74
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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    Weekly Fund flow into Turkey focused funds showed (Previous Week)-5.8 USD mn of outflow.


    Top 10 Turkey Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    CENTRAL EUROPE RUSSIA AND TURKEY FUND INC/THE (CEE)20.8167.1
    CONCEPT FUND SOLUTIONS - DB X-TRACKERS MSCI TURKEY INDEX UCITS ETF DR (XDTK)-0.13.9
    ISTANBUL GOLD EXCHANGE TRADED FUND (GLDTR)-0.218.8
    HSBC FIC FI MULTIMERCADO LONGO PRAZO DIVERSIFICACAO (HSBCALT)-0.28.8
    HSBC YATIRIM B TIPI ALTIN FONU (HSBCALT)-0.28.8
    NBAD - MENA DIVIDEND LEADER FUND - USD ACC (NBMDLUA)-0.6176.5
    CENTRAL EUROPE RUSSIA AND TURKEY FUND INC/THE (XCEEX)-0.7167.1
    SEB SICAV 1 - EAST EUROPE EX RUSSIA FUND - C (SEBEEUA)-3.1154.7
    ISHARES MSCI TURKEY UCITS ETF (IDTK)-5.792.2

    Top 10 Turkey Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    ISHARES MSCI TURKEY UCITS ETF (IDTK)-5.792.2
    SEB SICAV 1 - EAST EUROPE EX RUSSIA FUND - C (SEBEEUA)-3.1154.7
    CENTRAL EUROPE RUSSIA AND TURKEY FUND INC/THE (XCEEX)-0.7167.1
    NBAD - MENA DIVIDEND LEADER FUND - USD ACC (NBMDLUA)-0.6176.5
    HSBC FIC FI MULTIMERCADO LONGO PRAZO DIVERSIFICACAO (HSBCALT)-0.28.8
    HSBC YATIRIM B TIPI ALTIN FONU (HSBCALT)-0.28.8
    ISTANBUL GOLD EXCHANGE TRADED FUND (GLDTR)-0.218.8
    CONCEPT FUND SOLUTIONS - DB X-TRACKERS MSCI TURKEY INDEX UCITS ETF DR (XDTK)-0.13.9
    CENTRAL EUROPE RUSSIA AND TURKEY FUND INC/THE (CEE)20.8167.1



    Bond Picks

    Souvereign Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    TURKEY REPUBLIC OF (GOVERNMENT) 45121.76.63USDFeb 17, 204513.585.16-0.477.60
  • Austrian Interior Minister 'Ashamed' After Vote Annulled
    • TURKEY (REPUBLIC OF) 41112.26.00USDJan 14, 204112.975.12-0.517.30
  • Liberia Consoles Turkey after Deadly Terror Attack
    • TURKEY (REPUBLIC OF) 36122.26.88USDMar 17, 203611.435.08-0.466.30
  • Ruthless and barbaric killers
    • TURKEY (REPUBLIC OF) 30174.611.88USDJan 15, 20308.214.47-0.456.10
  • Roanoke woman helps refugees on Greek island
    • TURKEY (REPUBLIC OF) 24111.25.75USDMar 22, 20246.294.04-0.543.60
  • Article – 10 years of Lux Film Prize: find out the nominations for 2016

    • Corporate Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    TURKIYE GARANTI BANKASI AS RegS 21108.26.25USDApr 20, 20214.184.32-0.411.70
  • Lira Sinks as Turkey Decision to Hold Rates Puzzles Bulls
    • TURKIYE VAKIFLAR BANKASI TAO MTN RegS 25101.36.88USDFeb 3, 20253.152.91-0.382.38
    TURKIYE IS BANKASI AS RegS 17101.23.88USDNov 7, 20171.322.92-0.300.30
  • (TEKRAR) KAP : TURKIYE IS BANKASI AS / ISATR ISBTR ISCTR ...
    • YAPI VE KREDI BANKASI AS RegS 2099.664.00USDJan 22, 20203.284.10-0.471.56
  • KAP: SIRKET GENEL BILGI FORMU YKBNK [ ] /YAPI VE KREDI ...
    • AKBANK TAS RegS 22102.45.00USDOct 24, 20225.424.56-0.442.43
  • Lira Sinks as Turkey Decision to Hold Rates Puzzles Bulls

    • Local Currency Bonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    TURKEY (REPUBLIC OF) 1833.586.30TRYFeb 14, 20181.478.63-0.451.10
  • Croatia 2-1 Spain and Czech Republic 0-2 Turkey, Euro 2016 ...
    • TURKEY (REPUBLIC OF) 2234.018.50TRYSep 14, 20224.619.00-0.601.76
  • Turkey plans to offer citizenship to Syrian refugees
    • TURKEY (REPUBLIC OF) 1934.558.50TRYJul 10, 20192.528.77-0.481.27
  • Czech Republic meets with Turkey for spot in next round
    • TURKEY (REPUBLIC OF) 2334.328.80TRYSep 27, 20235.159.08-0.571.82
  • Euro 2016: Wales v Northern Ireland, England v Iceland & Republic ...
    • TURKEY (REPUBLIC OF) 1734.839.00TRYMar 8, 20170.648.74-0.400.93
  • The Latest: Turkey fans light flares after loss to Spain

    • View Turkey Econ Page






    • South Africa Performance Snapshot

    Index 1 month Ch%YTD Ch%1 year Ch%
    JALSH:IND -4.742.14-1.48
    MSCI South Africa 8.3715.06-17.30
    MSCI GEM 3.945.68-13.68
    MSCI BRIC 2.873.09-18.47
    MSCI World -0.370.43-5.30

    Indexes YTD performance %

    MSCI IndexYTDChange
    PERU48.6
    BRAZIL44.6
    BRAZIL ADR43.8
    EM LATIN AMERICA24.9
    EFM LATIN AMERICA & CARIBBEAN INDEX24.6
    COLOMBIA24.1
    ANDEAN22.2
    RUSSIA ADR/GDR21.1
    EM LATIN AMERICA WITH BRAZIL ADR20.1
    RUSSIA19.7
    THAILAND17.9
    NEW ZEALAND16.9
    EM ex ASIA16.4
    SOUTH AFRICA15.1
    CANADA14.5
    CHILE14.2
    INDONESIA13.7
    PHILIPPINES12.8
    EFM AFRICA12.0
    EMERGING + FRONTIER MARKETS WORKFORCE11.8
    EM EASTERN EUROPE11.5
    TURKEY10.5
    EM EMEA10.2
    SOUTH EAST ASIA9.0
    HUNGARY8.9
    EM EUROPE8.6
    TAIWAN8.5
    EFM EUROPE + CIS (E+C)8.3
    EFM EMEA8.3
    EM LATIN AMERICA ex BRAZIL7.9
    EMERGING MARKETS HORIZON7.0
    EM EUROPE & MIDDLE EAST6.7
    EM 506.2
    EM (EMERGING MARKETS)5.7
    EFM (EMERGING + FRONTIER MARKETS)5.5
    MALAYSIA5.4
    EM WITH BRAZIL + INDIA + RUSSIA DR5.2
    KOREA5.2
    EM WITH BRAZIL ADR4.8
    UNITED ARAB EMIRATES4.8
    NORWAY3.9
    SINGAPORE3.8
    INDIA DOMESTIC3.3
    NORTH AMERICA3.2
    BRIC3.1
    USA2.7
    EM FAR EAST1.7
    MEXICO1.7
    EM ASIA1.6
    EFM ASIA1.6
    ASIA APEX 501.4
    UNITED ARAB EMIRATES DOMESTIC1.2
    BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
    INDIA1.0
    BRIC WITH BRAZIL ADR0.9
    AUSTRALIA0.9
    PACIFIC ex JAPAN0.7
    JORDAN + EGYPT + MOROCCO0.6
    World0.4
    KOKUSAI INDEX (WORLD ex JP)0.4
    G7 INDEX0.4
    WORLD WITH USA GROSS-0.2
    BELGIUM-0.7
    DENMARK-1.2
    PORTUGAL-1.4
    HONG KONG-1.7
    EFM EUROPE + CIS (E+C) ex RU-1.8
    NETHERLANDS-3.1
    EM (EMERGING MARKETS)+CHINA A-3.5
    PACIFIC-3.8
    EAFE + CANADA-4.1
    EFM CEEC ex RU-4.1
    NORDIC COUNTRIES-4.4
    EM EASTERN EUROPE ex RUSSIA-4.5
    CZECH REPUBLIC-4.8
    EUROPE ex EMU-4.9
    CHINA 50-4.9
    QATAR-5.0
    FAR EAST-5.1
    UNITED KINGDOM-5.1
    SWITZERLAND-5.1
    FRANCE-5.2
    EASEA INDEX (EAFE ex JAPAN)-5.5
    EAFE ex ISRAEL-5.5
    EAFE-5.6
    EAFE ex UK-5.7
    JAPAN-6.0
    NIHONKABU-6.2
    PAN-EURO-6.3
    EUROPE-6.4
    CHINA-6.5
    EUROPE & MIDDLE EAST-6.5
    EGYPT-6.5
    SWEDEN-6.6
    EUROPE ex SWITZERLAND-6.7
    EU-6.8
    EUROPE ex UK-7.0
    POLAND-7.3
    QATAR DOMESTIC-7.8
    EMU ex GERMANY-7.9
    EMU-8.2
    EURO-8.5
    FINLAND-8.7
    GERMANY-8.9
    EFM AFRICA ex ZA-10.1
    AUSTRIA-11.5
    SPAIN-11.5
    CHINA A 50-12.9
    IRELAND-13.4
    ISRAEL-14.2
    ITALY-22.4
    GREECE-25.8

    Indexes 1m performance %

    IndexLastChnge
    Jakarta Stock Exchange Composite Index5016.1094.39
    Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
    Karachi Stock Exchange KSE100 Index37786.573.87
    FTSE 100 Index6360.061.19
    Shanghai Stock Exchange Composite Index2930.5490.48
    S&P BSE SENSEX Index26740.390.35
    Russian Trading System Cash Index930.150.16
    Hong Kong Hang Seng Index20791.68-0.28
    S&P/TSX Composite Index14036.74-0.35
    Korea Stock Exchange KOSPI Index1966.52-0.85
    Dow Jones Industrial Average17694.68-1.00
    Russian Depositary Index USD1069.58-1.15
    Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
    S&P 500 Index2070.77-1.35
    MICEX Index1888.15-2.62
    Borsa Istanbul 100 Index76711.97-2.87
    Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
    FTSE/JSE Africa All Share Index51890.42-4.74
    Deutsche Boerse AG German Stock Index DAX9612.27-7.18
    Nikkei 22515694.81-8.94

    Currencies 1m performance %

    TickerLastChnge
    USDNGN:CUR282.541.92
    USDGEL:CUR2.3559.92
    USDGBP:CUR0.74599.18
    USDARS:CUR14.9687.27
    USDTND:CUR2.21975.51
    USDAZN:CUR1.54794.24
    USDCRC:CUR546.632.08
    USDSEK:CUR8.46931.59
    USDKZT:CUR338.991.01
    USDHUF:CUR285.181.00
    USDCNH:CUR6.65470.97
    USDCNY:CUR 6.64330.88
    USDINR:CUR 67.6850.70
    USDRON:CUR4.07620.70
    USDPLN:CUR3.97860.60
    USDHRK:CUR6.76770.60
    USDEGP:CUR8.87960.55
    USDPHP:CUR46.9930.47
    USDCZK:CUR24.40320.47
    USDRSD:CUR110.98810.34
    USDNOK:CUR 8.39660.32
    USDKES:CUR101.250.32
    USDTTD:CUR6.65150.30
    USDMXN:CUR18.52910.30
    USDMAD:CUR9.79210.22
    USDBAM:CUR1.76060.20
    USDDKK:CUR6.69580.17
    USDLBP:CUR1513.750.15
    USDBGN:CUR1.76060.15
    USDLTL:CUR3.10820.14
    USDNLG:CUR1.98380.14
    USDEUR:CUR 0.90020.13
    USDLVL:CUR0.63260.13
    USDBHD:CUR0.377320.08
    USDQAR:CUR3.64130.03
    USDSAR:CUR3.75060.01
    USDOMR:CUR0.3850.00
    USDAED:CUR3.67290.00
    USDVEF:CUR9.98750.00
    USDPAB:CUR10.00
    USDBSD:CUR10.00
    USDBBD:CUR20.00
    USDBDT:CUR78.35-0.04
    USDHKD:CUR7.7586-0.12
    USDJOD:CUR0.7082-0.16
    USDPKR:CUR104.68-0.17
    USDKWD:CUR0.30185-0.17
    USDVND:CUR22300-0.42
    USDMDL:CUR19.82-0.43
    USDCAD:CUR 1.2946-0.80
    USDTWD:CUR32.275-1.03
    USDUAH:CUR24.8864-1.15
    USDCHF:CUR0.9799-1.30
    USDLKR:CUR146.25-1.32
    USDISK:CUR123.5-1.32
    USDTHB:CUR35.207-1.48
    USDTRL:CUR 2894310-2.04
    USDTRY:CUR2.8943-2.04
    USDPEN:CUR3.2887-2.30
    USDSGD:CUR1.3491-2.33
    USDMYR:CUR4.02-2.70
    USDAUD:CUR 1.3433-2.86
    USDIDR:CUR13179-3.24
    USDRUB:CUR 63.8022-3.28
    USDKRW:CUR 1152.54-3.30
    USDCLP:CUR661.95-4.15
    USDCOP:CUR2915.6-5.00
    USDNZD:CUR1.4091-5.37
    USDZAR:CUR 14.8227-6.12
    USDJPY:CUR 102.77-7.59
    USDBRL:CUR 3.2206-9.78

    Bond rates 1m performance %

    countryyield1wk1d1m1y
    GREECE 7.97%0.94 -41 +91 -663
    PORTUGAL 3.05%0.05 -6 +4 +1
    ITALY 1.37%0.01 -3 +2 -102
    INDIA 7.44%-0.02 -1 -3 -45
    JAPAN » -0.23%-0.11 +1 -12 --
    MEXICO 5.88%-0.22 -7 -20 -17
    SPAIN 1.25%-0.22 -6 -23 -109
    CANADA 1.12%-0.23 +5 -22 -62
    NEW ZEALAND 2.33%-0.26 +4 -22 --
    SWITZERLAND -0.62%-0.27 -2 -25 -67
    NETHERLANDS 0.10%-0.28 -2 -24 -96
    AUSTRALIA » 2.00%-0.29 +2 -25 --
    GERMANY » -0.13%-0.30 -1 -26 -92
    FRANCE 0.21%-0.30 -3 -25 -102
    HONG KONG 0.93%-0.30 +0 -- --
    SINGAPORE 1.92%-0.30 +6 -- --
    SOUTH KOREA 1.46%-0.34 -1 -32 --
    UNITED STATES » 1.51%-0.36 +5 -34 -81
    UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
    BRAZIL 12.12%-0.75 +10 -91 -53

    Commodities 1m performance %

    nameunitsPriceChng
    NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
    SugarUSD/LB.21.0119.92
    CoffeeUSD/LB.144.4519.08
    SilverUSD/T OZ.18.3313.92
    PalladiumUSD/T OZ.592.368.72
    GOLDUSD/T OZ.1316.158.62
    Copper$/t4838.003.05
    PlatinumUSD/T OZ.1004.332.78
    HogsUSD/LB.83.332.78
    COCOAUSD/MT3034.000.97
    OIL BrentUSD/BBL.49.990.73
    RiceUSD/CWT10.930.28
    CattleUSD/LB.114.13-1.98

    Best Stocks 1m in USD %ch

    NameChngePctCountry
    Kumba Iron Ore Ltd (KIO:SJ)46.63South Africa
    Gold Fields Ltd (GFI:SJ)34.72South Africa
    AngloGold Ashanti Ltd (ANG:SJ)31.50South Africa
    Harmony Gold Mining Co Ltd (HAR:SJ)29.16South Africa
    African Rainbow Minerals Ltd (ARI:SJ)23.87South Africa
    Assore Ltd (ASR:SJ)20.08South Africa
    Aspen Pharmacare Holdings Ltd (APN:SJ)17.99South Africa
    Impala Platinum Holdings Ltd (IMP:SJ)12.49South Africa
    MTN Group Ltd (MTN:SJ)12.33South Africa
    Exxaro Resources Ltd (EXX:SJ)7.94South Africa

    Worst Stocks 1m in USD %

    NameChngePctCountry
    PPC Ltd (PPC:SJ)-26.52South Africa
    Sasol Ltd (SOL:SJ)-18.38South Africa
    Investec Ltd (INL:SJ)-17.24South Africa
    Truworths International Ltd (TRU:SJ)-15.22South Africa
    Barclays Africa Group Ltd (BGA:SJ)-11.03South Africa
    MMI Holdings Ltd/South Africa (MMI:SJ)-10.61South Africa
    Sanlam Ltd (SLM:SJ)-9.83South Africa
    Foschini Group Ltd/The (TFG:SJ)-8.86South Africa
    Woolworths Holdings Ltd/South Africa (WHL:SJ)-8.46South Africa
    Sappi Ltd (SAP:SJ)-7.97South Africa

    Best Stocks YTD in USD %

    NameChngePctCountry
    Harmony Gold Mining Co Ltd (HAR:SJ)294.63South Africa
    Kumba Iron Ore Ltd (KIO:SJ)224.69South Africa
    Assore Ltd (ASR:SJ)223.62South Africa
    AngloGold Ashanti Ltd (ANG:SJ)178.81South Africa
    Anglo American Platinum Ltd (AMS:SJ)143.96South Africa
    African Rainbow Minerals Ltd (ARI:SJ)137.19South Africa
    Anglo American PLC (AGL:SJ)125.41United Kingdom
    Impala Platinum Holdings Ltd (IMP:SJ)114.55South Africa
    Gold Fields Ltd (GFI:SJ)97.90South Africa
    Northam Platinum Ltd (NHM:SJ)81.61South Africa

    Worst Stocks YTD in USD %

    NameChngePctCountry
    PPC Ltd (PPC:SJ)-50.60South Africa
    Investec Ltd (INL:SJ)-17.63South Africa
    Woolworths Holdings Ltd/South Africa (WHL:SJ)-13.40South Africa
    Nampak Ltd (NPK:SJ)-12.37South Africa
    Discovery Ltd (DSY:SJ)-0.74South Africa
    Netcare Ltd (NTC:SJ)-0.36South Africa
    Sasol Ltd (SOL:SJ)0.40South Africa
    Reunert Ltd (RLO:SJ)1.59Woodmead, Sandton, 2191 South Africa
    Truworths International Ltd (TRU:SJ)2.06South Africa
    Remgro Ltd (REM:SJ)5.29South Africa

    Sector Performance 1m in USD %

    sectorChngePct
    Consumer Discretionary-10.15
    Financials-5.72
    Energy-5.22
    Industrials-3.06
    Consumer Staples-2.62
    Technology-0.24
    Health Care2.23
    Communications3.70
    Materials14.40

    Sector Performance YTD in USD %

    sectorChngePct
    Technology1.59
    Health Care10.99
    Financials11.20
    Communications16.33
    Consumer Discretionary19.70
    Consumer Staples20.52
    Industrials31.64
    Energy33.94
    Materials120.88

    Table of Contents


    Turkey Stance
         Turkey Valuations
         Turkey Top Stock Picks
         Turkey Top Bond Picks
         Turkey Last Month Performance Review

    South Africa Stance
         South Africa Valuations
         South Africa Top Stock Picks
         South Africa Top Bond Picks
         South Africa Last Month Performance Review

    Russia Stance
         Russia Valuations
         Russia Top Stock Picks
         Russia Top Bond Picks
         Russia Last Month Performance Review

    Korea Stance
         Korea Valuations
         Korea Top Stock Picks
         Korea Top Bond Picks
         Korea Last Month Performance Review

    India Stance
         India Valuations
         India Top Stock Picks
         India Top Bond Picks
         India Last Month Performance Review

    China Stance
         China Valuations
         China Top Stock Picks
         China Top Bond Picks
         China Last Month Performance Review

    Canada Stance
         Canada Valuations
         Canada Top Stock Picks
         Canada Top Bond Picks
         Canada Last Month Performance Review

    Brazil Stance
         Brazil Valuations
         Brazil Top Stock Picks
         Brazil Top Bond Picks
         Brazil Last Month Performance Review

    Australia Stance
         Australia Valuations
         Australia Top Stock Picks
         Australia Top Bond Picks
         Australia Last Month Performance Review


















    South Africa



    Our Stance

    South Africa is another lackluster market this year it is still marginally up mostly due to strength in gold names. However South Africa is much more a domestic market with very developed consumer goods and financials sectors. Rather than a commodity exporter while both sectors were under slight pressure due to weak economic growth.




    South Africa Last Month Review

    South Africa JALSH:IND Index lost-4.74% last month. To finish the month at 51890.42

    MSCI South Africa Index gained 8.37% last month. Its overall up 15.06% since the beginning of the year.

    At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

    ZAR last month gained 6.12% against US dollar. To finish the month at 14.8227per USD.

    Sovereign eurobonds are trading with average yield of 4.85% and tightened by -0.80% last month.

    Corporate eurobonds are trading with average yield of 4.75% and tightened by -0.97% last month.

    Local currency bonds are trading with average yield of 8.71% and tightened by -0.42% last month.

    While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

    Best stocks last month in South Africa included Kumba Iron Ore Ltd (KIO:SJ) +46.63%, Gold Fields Ltd (GFI:SJ) +34.72%, AngloGold Ashanti Ltd (ANG:SJ) +31.50%, Harmony Gold Mining Co Ltd (HAR:SJ) +29.16%, African Rainbow Minerals Ltd (ARI:SJ) +23.87%, Assore Ltd (ASR:SJ) +20.08%, Aspen Pharmacare Holdings Ltd (APN:SJ) +17.99%, Impala Platinum Holdings Ltd (IMP:SJ) +12.49%, MTN Group Ltd (MTN:SJ) +12.33%, Exxaro Resources Ltd (EXX:SJ) +7.94%, .

    Worst stocks last month included PPC Ltd (PPC:SJ) -26.52%, Sasol Ltd (SOL:SJ) -18.38%, Investec Ltd (INL:SJ) -17.24%, Truworths International Ltd (TRU:SJ) -15.22%, Barclays Africa Group Ltd (BGA:SJ) -11.03%, MMI Holdings Ltd/South Africa (MMI:SJ) -10.61%, Sanlam Ltd (SLM:SJ) -9.83%, Foschini Group Ltd/The (TFG:SJ) -8.86%, Woolworths Holdings Ltd/South Africa (WHL:SJ) -8.46%, Sappi Ltd (SAP:SJ) -7.97%,

    Best stocks YTD included Harmony Gold Mining Co Ltd (HAR:SJ) +294.63%, Kumba Iron Ore Ltd (KIO:SJ) +224.69%, Assore Ltd (ASR:SJ) +223.62%, AngloGold Ashanti Ltd (ANG:SJ) +178.81%, Anglo American Platinum Ltd (AMS:SJ) +143.96%, African Rainbow Minerals Ltd (ARI:SJ) +137.19%, Anglo American PLC (AGL:SJ) +125.41%, Impala Platinum Holdings Ltd (IMP:SJ) +114.55%, Gold Fields Ltd (GFI:SJ) +97.90%, Northam Platinum Ltd (NHM:SJ) +81.61%,

    While worst stocks YTD included PPC Ltd (PPC:SJ) -50.60%, Investec Ltd (INL:SJ) -17.63%, Woolworths Holdings Ltd/South Africa (WHL:SJ) -13.40%, Nampak Ltd (NPK:SJ) -12.37%, Discovery Ltd (DSY:SJ) -0.74%, Netcare Ltd (NTC:SJ) -0.36%, Sasol Ltd (SOL:SJ) 0.40%, Reunert Ltd (RLO:SJ) 1.59%, Truworths International Ltd (TRU:SJ) 2.06%, Remgro Ltd (REM:SJ) 5.29%,

    In terms of sector performance last month

    the best sectors included Materials +14.40%, Communications +3.70%, Health Care +2.23%,

    While worst sector performance last month showed Consumer Discretionary -10.15%, Financials -5.72%, Energy -5.22%,

    YTD the best sectors remain Materials +120.88%, Energy +33.94%, Industrials +31.64%,

    While the worst sectors are Technology 1.59%, Health Care 10.99%, Financials 11.20%,

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    Some Political news headlines for South Africa include:

  • President Jacob Zuma attends funeral of ANC bus crash victims
  • African activists call for President Zuma's resignation
  • Ministers and President Zuma expected in Bay for Imbizo Week
  • Is that light in the end of the tunnel or it's the train coming? Gauteng ...
  • Sekolah Libur Sebulan Penuh
  • Fibre breaks in Egypt down Seacom again
  • This is who'll chair parliamentary committees - ANC

    While some economic events and news headlines include:

    2016-06-01--South Africa Total New Vehicle Sales MAY

  • SA's new vehicle sales drop in May
  • RAM conversion done right

    2016-06-03--South Africa Standard Bank PMI MAY

  • June PMI points to slump in private-sector conditions
  • Standard Bank Q2 manufacturing PMI

    2016-06-01--South Africa Barclays Manufacturing PMI MAY

  • PMI figures signal upbeat factory sector
  • BUSINESS DAY TV: Rand is still weaker and is vital to ...

    2016-06-07--South Africa Foreign Exchange Reserves MAY

  • South Africa's net reserves rise to $40.826 billion in June
  • FOREX Africa: After Nigeria, Next Currency Devaluation May Be In ...

    2016-06-08--South Africa GDP Growth Rate QoQ Q1

  • Precious Metals Second Quarter 2016 Review And The Outlook For ...
  • FxWirePro Stay hedged in USD-ZAR via CCS as SARB in dilemma ...

    2016-06-08--South Africa GDP Growth Rate YoY Q1

  • Beaufort Securities Breakfast Alert: UK car registrations reach record ...
  • Nigeria's economy slides into recession in Q2

    2016-06-09--South Africa Gold Production YoY APR

  • Beaufort Securities Breakfast Alert: UK car registrations reach record ...
  • Norilsk Nickel - Substantial Upside Potential Due To Growing Nickel ...

    2016-06-09--South Africa Mining Production MoM APR

  • As Chinese, Iranian and Indonesian As Apple Pie
  • Today's Market View Including: Aureus Mining, BHP Billiton, Kibo ...

    2016-06-09--South Africa Mining Production YoY APR

  • Beaufort Securities Breakfast Alert: UK car registrations reach record ...
  • South Africa's agricultural sector looks to regrowth

    2016-06-09--South Africa Manufacturing Production YoY APR

  • Beaufort Securities Breakfast Alert: UK car registrations reach record ...
  • Beaufort Securities Breakfast Alert: Jiasen International Holdings ...

    2016-06-09--South Africa Manufacturing Production MoM APR

  • World's biggest oil producers meet to discuss possible freeze on ...
  • Will You Sprint, Stroll or Stumble Into a Career?

    2016-06-10--South Africa Business Confidence Q2

  • South Africa's Q2 business confidence tumbles to seven-year low
  • Consumer confidence takes a battering

    2016-06-14--South Africa Current Account Q1

  • South Africa's current account deficit widens in Q1 as exports slump
  • Q1 revenue growth set to hit a 2-yr high: Crisil

    2016-06-15--South Africa Retail Sales MoM APR

  • Today's multi-tasking, chore-sharing, ever-attentive dad is sparking ...
  • A Lab-Grown Diamond Is Forever

    2016-06-15--South Africa Retail Sales YoY APR

  • Beaufort Securities Breakfast Alert: UK car registrations reach record ...
  • Retail survey finds retailer confidence at a 15-year low

    2016-06-22--South Africa Core Inflation Rate YoY MAY

  • Tempered Risk Appetite May Cut The Rally Short
  • Naspers' (NPSNY) CEO Bob van Dijk on Q4 2016 Results ...

    2016-06-22--South Africa Inflation Rate YoY MAY

  • Eskom Profit Surges as International Power Sales Climb 12%
  • Inflation Up Again - A Never Ending Problem - FDC

    2016-06-22--South Africa Inflation Rate MoM MAY

  • Falling pound hits British pensioners living overseas
  • NPR's Interview With President Obama About 'Obama's Years'

    2016-07-05--South Africa Consumer Confidence Q2

  • Standard Bank Q2 manufacturing PMI
  • Consumer confidence takes a battering

    2016-07-05--South Africa Standard Bank PMI JUN

  • June PMI points to slump in private-sector conditions
  • Pound to Rand Exchange Rate: Confidence inn South African ...

    2016-07-07--South Africa Foreign Exchange Reserves JUN

  • South Africa's net reserves rise to $40.826 billion in June
  • European Stocks Rise as Oil Advances Toward $48; Pound Rebounds

  • South Africa's 'messy' political state hampers economic growth ...
  • Brexit Could Hurt South Africa's GDP Growth, Kganyago Says

  • Barclays Africa seeks Nigerian investment banking license, sees ...
  • Private equity looking past South Africa for growth

  • Toronto Maple Leafs fans win their dream wedding
  • Zuma stance may harvest a food crisis

  • Government mulls panel to resolve exporters' issues, boost shipments
  • Op-Ed: South Africa in the Age of Austerity

  • Op-Ed: South Africa in the Age of Austerity
  • Highlights of South Africa's Budget Speech 2015

  • Op-Ed: South Africa in the Age of Austerity

    Companies Reported last month include:

    Best Stocks Last Month and News

    Kumba Iron Ore Ltd (KIO:SJ)+46.63%

    Gold Fields Ltd (GFI:SJ)+34.72%

  • Endeavour Mining: Could This Pink Sheet's Investors 'Strike Gold'?

    AngloGold Ashanti Ltd (ANG:SJ)+31.50%

    Harmony Gold Mining Co Ltd (HAR:SJ)+29.16%

    African Rainbow Minerals Ltd (ARI:SJ)+23.87%

    Assore Ltd (ASR:SJ)+20.08%

    Aspen Pharmacare Holdings Ltd (APN:SJ)+17.99%

    Impala Platinum Holdings Ltd (IMP:SJ)+12.49%

  • MTN Group Ltd (MTN:SJ)+12.33%

  • Iran Watchers' Stock Buying Guide Is Loaded With Dubai Names

    Exxaro Resources Ltd (EXX:SJ)+7.94%

  • Zirconium: Not Just Bling

    Worst Stocks Last Month and News

    PPC Ltd (PPC:SJ) -26.52%

    Sasol Ltd (SOL:SJ) -18.38%

    Investec Ltd (INL:SJ) -17.24%

    Truworths International Ltd (TRU:SJ) -15.22%

    Barclays Africa Group Ltd (BGA:SJ) -11.03%

  • Net 1 UEPS: Hidden Gem With Tremendous Upside Potential

    MMI Holdings Ltd/South Africa (MMI:SJ) -10.61%

    Sanlam Ltd (SLM:SJ) -9.83%

    Foschini Group Ltd/The (TFG:SJ) -8.86%

    Woolworths Holdings Ltd/South Africa (WHL:SJ) -8.46%

    Sappi Ltd (SAP:SJ) -7.97%

    Valuations




    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Rand Merchant Investment Holdings LtdRMI:SJSandton, 2196 South Africa P&C Insurance3917.853.01%19.574.1521.2158.91-0.9154.21
    Harmony Gold Mining Co LtdHAR:SJSouth Africa Precious Metal Mining1881.27--1.720.000.00259.05253.63
    AngloGold Ashanti LtdANG:SJSouth Africa Precious Metal Mining8257.23--2.070.000.00154.91149.48
    Assore LtdASR:SJSouth Africa Steel Raw Material Suppliers1753.892.72%11.098.5877.3730.16101.97192.99
    Gold Fields LtdGFI:SJSouth Africa Precious Metal Mining4463.230.31%-1.910.00-0.0084.3578.93
    Anglo American Platinum LtdAMS:SJSouth Africa Precious Metal Mining7306.05-974.711.770.18-0.0050.84-929.11
    Sappi LtdSAP:SJSouth Africa Paper2390.25-9.250.444.76-0.0045.5535.63
    Bidvest Group Ltd/TheBVT:SJSouth Africa Food Products Wholesalers3046.807.21%6.710.233.4348.3839.7479.41
    African Rainbow Minerals LtdARI:SJSouth Africa Steel Raw Material Suppliers1427.753.62%17.162.3713.8162.1229.9783.31
    Tiger Brands LtdTBS:SJSouth Africa Packaged Food4653.592.73%18.741.849.8251.1625.3062.11
    Vodacom Group LtdVOD:SJSouth Africa Telecom Carriers17086.414.69%19.183.1116.2189.9524.77106.33
    Pick n Pay Stores LtdPIK:SJSouth Africa Food & Drug Stores2352.962.10%31.720.471.4866.6124.2055.15
    Northam Platinum LtdNHM:SJSouth Africa Precious Metal Mining1602.85--2.760.000.0023.6218.19
    Naspers LtdNPN:SJSouth Africa Entertainment Content63485.000.24%91.9710.7811.7222.0716.76-46.85
    Redefine Properties LtdRDF:SJSouth Africa REIT3756.307.34%8.155.5467.9859.8215.48129.70
    Impala Platinum Holdings LtdIMP:SJSouth Africa Precious Metal Mining2669.88-233.041.010.43-0.007.20-230.83
    SPAR Group Ltd/TheSPP:SJSouth Africa Food & Drug Stores2443.393.33%22.630.431.9075.365.9155.12
    Life Healthcare Group Holdings LtdLHC:SJSouth Africa Health Care Facilities2661.144.29%19.272.5012.9782.675.8676.81
    Aspen Pharmacare Holdings LtdAPN:SJSouth Africa Generic Pharma11517.980.58%36.254.7713.1621.033.48-4.01
    Truworths International LtdTRU:SJSouth Africa Specialty Apparel Stores2424.965.35%12.352.5520.6566.071.9470.88
    Growthpoint Properties LtdGRT:SJSouth Africa REIT4786.055.29%18.377.7442.1397.181.61117.13
    Shoprite Holdings LtdSHP:SJSouth Africa Food & Drug Stores6376.432.43%20.370.733.5849.501.0728.36
    Sasol LtdSOL:SJSouth Africa Integrated Oils17221.794.41%9.281.4015.0940.920.3741.68
    Steinhoff International Holdings LtdSHF:SJSouth Africa Home Products Stores0.00---0.000.00-0.15-5.57
    Mr Price Group LtdMPC:SJSouth Africa Specialty Apparel Stores0.00---0.000.00-0.15-5.57
    Mediclinic International LtdMDC:SJSouth Africa Health Care Facilities0.00---0.000.00-0.15-5.57
    Remgro LtdREM:SJSouth Africa Packaged Food8317.701.87%15.354.7130.6828.70-0.6837.94
    Foschini Group Ltd/TheTFG:SJSouth Africa Specialty Apparel Stores2023.564.98%13.541.3610.0467.43-2.7555.76
    Kumba Iron Ore LtdKIO:SJSouth Africa Steel Raw Material Suppliers2541.96-9.851.0310.46-0.00-3.66-8.48
    Massmart Holdings LtdMSM:SJSouth Africa Mass Merchants1911.641.99%25.150.331.3150.05-5.5115.28
    Sanlam LtdSLM:SJSouth Africa Life Insurance8403.794.28%12.321.3510.9652.73-5.9539.99
    Discovery LtdDSY:SJSouth Africa Managed Care5148.261.42%20.931.959.3229.72-5.986.70
    Exxaro Resources LtdEXX:SJSouth Africa Coal Operations1664.412.20%15.001.379.1333.00-6.0715.64
    RMB Holdings LtdRMH:SJSouth Africa Banks5072.135.58%10.31--0.0057.53-7.1534.65
    FirstRand LtdFSR:SJSouth Africa Banks16568.485.17%11.282.5222.3458.32-8.3955.56
    Liberty Holdings LtdLBH:SJSouth Africa Life Insurance2279.755.88%7.690.435.5945.22-8.5429.16
    Imperial Holdings LtdIPL:SJSouth Africa Automotive Retailers2116.985.43%9.000.262.8948.87-11.1726.17
    Barloworld LtdBAW:SJSouth Africa Industrial Distribution & Rental1047.644.75%9.290.242.5844.13-11.1720.83
    Woolworths Holdings Ltd/South AfricaWHL:SJSouth Africa Food & Drug Stores5623.273.57%18.481.226.6065.97-11.8236.85
    Netcare LtdNTC:SJSouth Africa Health Care Facilities3079.342.96%16.981.166.8350.26-11.8422.85
    Standard Bank Group LtdSBK:SJSouth Africa Banks13539.985.46%8.891.2013.5048.54-12.8234.90
    Investec LtdINL:SJSouth Africa Banks5421.465.60%10.771.2011.1460.31-15.9939.27
    Barclays Africa Group LtdBGA:SJSouth Africa Banks7802.147.37%8.051.0913.5459.33-16.4342.97
    Nedbank Group LtdNED:SJSouth Africa Banks6129.746.07%7.981.0413.0348.44-16.6531.42
    MMI Holdings Ltd/South AfricaMMI:SJSouth Africa Life Insurance2303.477.27%11.440.736.3883.17-16.9755.71
    MTN Group LtdMTN:SJSouth Africa Telecom Carriers17907.979.15%19.191.769.17175.59-24.33135.81
    PPC LtdPPC:SJSouth Africa Cement & Aggregates301.134.62%5.150.407.7723.79-52.10-31.11
    Nampak LtdNPK:SJSouth Africa Containers & Packaging873.494.92%10.370.686.5651.02-34.447.34
    Anglo American PLCAGL:SJUnited Kingdom Steel Raw Material Suppliers12870.343.06%-0.630.00-0.00-5.40-10.82
    Reunert LtdRLO:SJWoodmead, Sandton, 2191 South Africa Office Electronics772.416.72%10.431.1911.4170.09-1.9963.65

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications98479.431.610.3794505.836.543.32.63.219.218.25.512.013.61.610.7-0.7
    Consumer Discretionary6565.52.16.6509681.060.927.05.32.011.616.4-29.311.79.6-2.1-3.73.1
    Consumer Staples34725.811.27.5584775.350.338.03.01.818.628.2-34.011.010.3-0.76.812.3
    Energy18886.26.112.6973390.440.240.84.24.49.812.4-21.014.69.7-4.9-0.2-21.0
    Financials79981.225.732.82543065.758.326.05.54.010.98.823.919.520.40.9-8.93.2
    Health Care22406.77.22.3178295.834.420.31.51.028.131.7-11.411.417.05.6-0.513.6
    Industrials1047.60.35.8453138.244.123.44.81.89.318.6-50.02.611.48.8-11.222.9
    Materials48339.315.57.6590209.44.027.52.63.110.918.1-39.810.69.8-0.857.5-0.1
    Technology772.40.210.8833615.670.129.26.72.310.418.9-45.011.419.88.4-2.02.8

    Top 5 South Africa Index Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Harmony Gold Mining Co LtdHAR:SJSouth Africa Precious Metal Mining1881.27--1.720.000.00259.05253.63
    Assore LtdASR:SJSouth Africa Steel Raw Material Suppliers1753.892.72%11.098.5877.3730.16101.97192.99
    AngloGold Ashanti LtdANG:SJSouth Africa Precious Metal Mining8257.23--2.070.000.00154.91149.48
    MTN Group LtdMTN:SJSouth Africa Telecom Carriers17907.979.15%19.191.769.17175.59-24.33135.81
    Redefine Properties LtdRDF:SJSouth Africa REIT3756.307.34%8.155.5467.9859.8215.48129.70

    Top 5 South Africa Index Short Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Anglo American Platinum LtdAMS:SJSouth Africa Precious Metal Mining7306.05-974.711.770.18-0.0050.84-999.99
    Impala Platinum Holdings LtdIMP:SJSouth Africa Precious Metal Mining2669.88-233.041.010.43-0.007.20-317.74
    Naspers LtdNPN:SJSouth Africa Entertainment Content63485.000.24%91.9710.7811.7222.0716.76-133.76
    PPC LtdPPC:SJSouth Africa Cement & Aggregates301.134.62%5.150.407.7723.79-52.10-118.03
    Anglo American PLCAGL:SJUnited Kingdom Steel Raw Material Suppliers12870.343.06%-0.630.00-0.00-5.40-97.73
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    Weekly Fund flow into South Africa focused funds showed (Previous Week)0.7 USD mn of inflow


    Top 10 South Africa Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    BG SELECTION SICAV - AFRICA & MIDDLE EAST EQUITIES - A CAP (BGAFMAX)0.5161.5
    T ROWE PRICE INSTITUTIONAL AFRICA & MIDDLE EAST FUND (TRIAX)0.3163.3
    ISHARES MSCI SOUTH AFRICA UCITS ETF (IRSA)0.122.0
    EASTSPRING INVESTMENTS - AFRICA EQUITY FUND - ED USD (ESAFEDU)0.0102.5
    MITONOPTIMAL IP SA INFLATION LINKED INDEX FUND - B (MITILBB)-0.15.4
    VANGUARD FTSE EMERGING MARKETS ETF (VWO)-2920.535009.0

    Top 10 South Africa Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    VANGUARD FTSE EMERGING MARKETS ETF (VWO)-2920.535009.0
    MITONOPTIMAL IP SA INFLATION LINKED INDEX FUND - B (MITILBB)-0.15.4
    EASTSPRING INVESTMENTS - AFRICA EQUITY FUND - ED USD (ESAFEDU)0.0102.5
    ISHARES MSCI SOUTH AFRICA UCITS ETF (IRSA)0.122.0
    T ROWE PRICE INSTITUTIONAL AFRICA & MIDDLE EAST FUND (TRIAX)0.3163.3
    BG SELECTION SICAV - AFRICA & MIDDLE EAST EQUITIES - A CAP (BGAFMAX)0.5161.5



    Bond Picks

    Souvereign Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    REPUBLIC OF SOUTH AFRICA 19111.26.88USDMay 27, 20192.672.82-0.511.20
  • I won't abandon physically challenged athletes – Ochei
    • SOUTH AFRICA (REPUBLIC OF) 20108.05.50USDMar 9, 20203.343.18-0.702.40
  • South Africa: Top 20 Finish for SA's Hatherly At World Championships
    • SOUTH AFRICA (REPUBLIC OF) 25110.75.88USDSep 16, 20257.174.44-0.534.10
  • MOOCs guide for policy-makers in developing countries
    • ESKOM HOLDINGS LTD RegS 2198.005.75USDJan 26, 20213.966.26-1.576.00
  • Insults fly before and after EFF eviction
    • SOUTH AFRICA (REPUBLIC OF) 26103.34.88USDApr 14, 20267.784.45-0.624.80
  • South Africa 32 Ireland 26: Damian de Allende scores late try to ...

    • Corporate Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    MYRIAD INTERNATIONAL HLDG BV RegS 20109.16.00USDJul 18, 20203.573.56-0.130.40
  • Fitch Affirms Naspers at 'BB+'; Outlook Stable
    • ESKOM HOLDINGS LTD RegS 2199.155.75USDJan 26, 20213.975.96-1.806.88
  • Insults fly before and after EFF eviction
    • ANGLOGOLD ASHANTI HOLDINGS PLC 22102.05.13USDAug 1, 20225.174.74-0.975.00
  • AngloGold Ashanti says it has cut its net debt by 30% in 2015

    • Local Currency Bonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    SOUTH AFRICA (REPUBLIC OF) 267.5910.50ZARDec 21, 20266.448.84-0.500.68
  • South Africa 32 Ireland 26: Damian de Allende scores late try to ...
    • SOUTH AFRICA (REPUBLIC OF) 306.188.00ZARJan 31, 20307.489.23-0.480.58
  • Art Briefs: WSSU Choir to be featured on publishing company site
    • SOUTH AFRICA (REPUBLIC OF) 364.916.25ZARMar 31, 20369.149.41-0.390.47
  • MOOCs guide for policy-makers in developing countries
    • SOUTH AFRICA (REPUBLIC OF) 486.238.75ZARFeb 28, 20488.989.63-0.340.56
  • Jamsie O'Connor: Tribe can finally get fire started in the championship
    • SOUTH AFRICA (REPUBLIC OF) 376.198.50ZARJan 31, 20378.489.54-0.340.54
  • Ruzafa, Paterson win XT France

    • View South Africa Econ Page






    • Russia Performance Snapshot

    Index 1 month Ch%YTD Ch%1 year Ch%
    RTSI$:IND 0.1622.94-1.36
    MSCI Russia 1.9219.68-5.55
    MSCI GEM 3.945.68-13.68
    MSCI BRIC 2.873.09-18.47
    MSCI World -0.370.43-5.30

    Indexes YTD performance %

    MSCI IndexYTDChange
    PERU48.6
    BRAZIL44.6
    BRAZIL ADR43.8
    EM LATIN AMERICA24.9
    EFM LATIN AMERICA & CARIBBEAN INDEX24.6
    COLOMBIA24.1
    ANDEAN22.2
    RUSSIA ADR/GDR21.1
    EM LATIN AMERICA WITH BRAZIL ADR20.1
    RUSSIA19.7
    THAILAND17.9
    NEW ZEALAND16.9
    EM ex ASIA16.4
    SOUTH AFRICA15.1
    CANADA14.5
    CHILE14.2
    INDONESIA13.7
    PHILIPPINES12.8
    EFM AFRICA12.0
    EMERGING + FRONTIER MARKETS WORKFORCE11.8
    EM EASTERN EUROPE11.5
    TURKEY10.5
    EM EMEA10.2
    SOUTH EAST ASIA9.0
    HUNGARY8.9
    EM EUROPE8.6
    TAIWAN8.5
    EFM EUROPE + CIS (E+C)8.3
    EFM EMEA8.3
    EM LATIN AMERICA ex BRAZIL7.9
    EMERGING MARKETS HORIZON7.0
    EM EUROPE & MIDDLE EAST6.7
    EM 506.2
    EM (EMERGING MARKETS)5.7
    EFM (EMERGING + FRONTIER MARKETS)5.5
    MALAYSIA5.4
    EM WITH BRAZIL + INDIA + RUSSIA DR5.2
    KOREA5.2
    EM WITH BRAZIL ADR4.8
    UNITED ARAB EMIRATES4.8
    NORWAY3.9
    SINGAPORE3.8
    INDIA DOMESTIC3.3
    NORTH AMERICA3.2
    BRIC3.1
    USA2.7
    EM FAR EAST1.7
    MEXICO1.7
    EM ASIA1.6
    EFM ASIA1.6
    ASIA APEX 501.4
    UNITED ARAB EMIRATES DOMESTIC1.2
    BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
    INDIA1.0
    BRIC WITH BRAZIL ADR0.9
    AUSTRALIA0.9
    PACIFIC ex JAPAN0.7
    JORDAN + EGYPT + MOROCCO0.6
    World0.4
    KOKUSAI INDEX (WORLD ex JP)0.4
    G7 INDEX0.4
    WORLD WITH USA GROSS-0.2
    BELGIUM-0.7
    DENMARK-1.2
    PORTUGAL-1.4
    HONG KONG-1.7
    EFM EUROPE + CIS (E+C) ex RU-1.8
    NETHERLANDS-3.1
    EM (EMERGING MARKETS)+CHINA A-3.5
    PACIFIC-3.8
    EAFE + CANADA-4.1
    EFM CEEC ex RU-4.1
    NORDIC COUNTRIES-4.4
    EM EASTERN EUROPE ex RUSSIA-4.5
    CZECH REPUBLIC-4.8
    EUROPE ex EMU-4.9
    CHINA 50-4.9
    QATAR-5.0
    FAR EAST-5.1
    UNITED KINGDOM-5.1
    SWITZERLAND-5.1
    FRANCE-5.2
    EASEA INDEX (EAFE ex JAPAN)-5.5
    EAFE ex ISRAEL-5.5
    EAFE-5.6
    EAFE ex UK-5.7
    JAPAN-6.0
    NIHONKABU-6.2
    PAN-EURO-6.3
    EUROPE-6.4
    CHINA-6.5
    EUROPE & MIDDLE EAST-6.5
    EGYPT-6.5
    SWEDEN-6.6
    EUROPE ex SWITZERLAND-6.7
    EU-6.8
    EUROPE ex UK-7.0
    POLAND-7.3
    QATAR DOMESTIC-7.8
    EMU ex GERMANY-7.9
    EMU-8.2
    EURO-8.5
    FINLAND-8.7
    GERMANY-8.9
    EFM AFRICA ex ZA-10.1
    AUSTRIA-11.5
    SPAIN-11.5
    CHINA A 50-12.9
    IRELAND-13.4
    ISRAEL-14.2
    ITALY-22.4
    GREECE-25.8

    Indexes 1m performance %

    IndexLastChnge
    Jakarta Stock Exchange Composite Index5016.1094.39
    Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
    Karachi Stock Exchange KSE100 Index37786.573.87
    FTSE 100 Index6360.061.19
    Shanghai Stock Exchange Composite Index2930.5490.48
    S&P BSE SENSEX Index26740.390.35
    Russian Trading System Cash Index930.150.16
    Hong Kong Hang Seng Index20791.68-0.28
    S&P/TSX Composite Index14036.74-0.35
    Korea Stock Exchange KOSPI Index1966.52-0.85
    Dow Jones Industrial Average17694.68-1.00
    Russian Depositary Index USD1069.58-1.15
    Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
    S&P 500 Index2070.77-1.35
    MICEX Index1888.15-2.62
    Borsa Istanbul 100 Index76711.97-2.87
    Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
    FTSE/JSE Africa All Share Index51890.42-4.74
    Deutsche Boerse AG German Stock Index DAX9612.27-7.18
    Nikkei 22515694.81-8.94

    Currencies 1m performance %

    TickerLastChnge
    USDNGN:CUR282.541.92
    USDGEL:CUR2.3559.92
    USDGBP:CUR0.74599.18
    USDARS:CUR14.9687.27
    USDTND:CUR2.21975.51
    USDAZN:CUR1.54794.24
    USDCRC:CUR546.632.08
    USDSEK:CUR8.46931.59
    USDKZT:CUR338.991.01
    USDHUF:CUR285.181.00
    USDCNH:CUR6.65470.97
    USDCNY:CUR 6.64330.88
    USDINR:CUR 67.6850.70
    USDRON:CUR4.07620.70
    USDPLN:CUR3.97860.60
    USDHRK:CUR6.76770.60
    USDEGP:CUR8.87960.55
    USDPHP:CUR46.9930.47
    USDCZK:CUR24.40320.47
    USDRSD:CUR110.98810.34
    USDNOK:CUR 8.39660.32
    USDKES:CUR101.250.32
    USDTTD:CUR6.65150.30
    USDMXN:CUR18.52910.30
    USDMAD:CUR9.79210.22
    USDBAM:CUR1.76060.20
    USDDKK:CUR6.69580.17
    USDLBP:CUR1513.750.15
    USDBGN:CUR1.76060.15
    USDLTL:CUR3.10820.14
    USDNLG:CUR1.98380.14
    USDEUR:CUR 0.90020.13
    USDLVL:CUR0.63260.13
    USDBHD:CUR0.377320.08
    USDQAR:CUR3.64130.03
    USDSAR:CUR3.75060.01
    USDOMR:CUR0.3850.00
    USDAED:CUR3.67290.00
    USDVEF:CUR9.98750.00
    USDPAB:CUR10.00
    USDBSD:CUR10.00
    USDBBD:CUR20.00
    USDBDT:CUR78.35-0.04
    USDHKD:CUR7.7586-0.12
    USDJOD:CUR0.7082-0.16
    USDPKR:CUR104.68-0.17
    USDKWD:CUR0.30185-0.17
    USDVND:CUR22300-0.42
    USDMDL:CUR19.82-0.43
    USDCAD:CUR 1.2946-0.80
    USDTWD:CUR32.275-1.03
    USDUAH:CUR24.8864-1.15
    USDCHF:CUR0.9799-1.30
    USDLKR:CUR146.25-1.32
    USDISK:CUR123.5-1.32
    USDTHB:CUR35.207-1.48
    USDTRL:CUR 2894310-2.04
    USDTRY:CUR2.8943-2.04
    USDPEN:CUR3.2887-2.30
    USDSGD:CUR1.3491-2.33
    USDMYR:CUR4.02-2.70
    USDAUD:CUR 1.3433-2.86
    USDIDR:CUR13179-3.24
    USDRUB:CUR 63.8022-3.28
    USDKRW:CUR 1152.54-3.30
    USDCLP:CUR661.95-4.15
    USDCOP:CUR2915.6-5.00
    USDNZD:CUR1.4091-5.37
    USDZAR:CUR 14.8227-6.12
    USDJPY:CUR 102.77-7.59
    USDBRL:CUR 3.2206-9.78

    Bond rates 1m performance %

    countryyield1wk1d1m1y
    GREECE 7.97%0.94 -41 +91 -663
    PORTUGAL 3.05%0.05 -6 +4 +1
    ITALY 1.37%0.01 -3 +2 -102
    INDIA 7.44%-0.02 -1 -3 -45
    JAPAN » -0.23%-0.11 +1 -12 --
    MEXICO 5.88%-0.22 -7 -20 -17
    SPAIN 1.25%-0.22 -6 -23 -109
    CANADA 1.12%-0.23 +5 -22 -62
    NEW ZEALAND 2.33%-0.26 +4 -22 --
    SWITZERLAND -0.62%-0.27 -2 -25 -67
    NETHERLANDS 0.10%-0.28 -2 -24 -96
    AUSTRALIA » 2.00%-0.29 +2 -25 --
    GERMANY » -0.13%-0.30 -1 -26 -92
    FRANCE 0.21%-0.30 -3 -25 -102
    HONG KONG 0.93%-0.30 +0 -- --
    SINGAPORE 1.92%-0.30 +6 -- --
    SOUTH KOREA 1.46%-0.34 -1 -32 --
    UNITED STATES » 1.51%-0.36 +5 -34 -81
    UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
    BRAZIL 12.12%-0.75 +10 -91 -53

    Commodities 1m performance %

    nameunitsPriceChng
    NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
    SugarUSD/LB.21.0119.92
    CoffeeUSD/LB.144.4519.08
    SilverUSD/T OZ.18.3313.92
    PalladiumUSD/T OZ.592.368.72
    GOLDUSD/T OZ.1316.158.62
    Copper$/t4838.003.05
    PlatinumUSD/T OZ.1004.332.78
    HogsUSD/LB.83.332.78
    COCOAUSD/MT3034.000.97
    OIL BrentUSD/BBL.49.990.73
    RiceUSD/CWT10.930.28
    CattleUSD/LB.114.13-1.98

    Best Stocks 1m in USD %ch

    NameChngePctCountry
    Inter RAO UES PJSC (IRAO:RM)32.79Russian Federation
    Federal Grid PJSC (FEES:RM)27.28Russian Federation
    LSR Group PJSC (LSRG:LI)21.34Russian Federation
    Evraz PLC (EVR:LN)17.31Russian Federation
    Tatneft PJSC (TATN:RM)14.92Russian Federation
    Rosneft PJSC (ROSN:RM)13.91Russian Federation
    Lukoil PJSC (LKOH:RM)10.20Russian Federation
    Aeroflot PJSC (AFLT:RM)10.14Russian Federation
    Severstal PJSC (CHMF:RM)9.08Russian Federation
    Gazprom Neft PJSC (SIBN:RM)9.05Russian Federation

    Worst Stocks 1m in USD %

    NameChngePctCountry
    Mail.Ru Group Ltd (MAIL:LI)-6.06Russian Federation
    Magnit PJSC (MGNT:LI)-4.76Russian Federation
    MegaFon PJSC (MFON:LI)-3.57Russian Federation
    MegaFon PJSC (MFON:RM)-3.57Russian Federation
    Surgutneftegas OJSC (SNGSP:RM)-2.56Russian Federation
    Rostelecom PJSC (RTKM:RM)-1.82Russian Federation
    TMK PJSC (TRMK:RM)-1.73Russian Federation
    United Co RUSAL PLC (486:HK)-1.54Russian Federation
    TMK PJSC (TMKS:LI)0.00Russian Federation
    Gazprom PJSC (GAZP:RM)0.70Russian Federation

    Best Stocks YTD in USD %

    NameChngePctCountry
    Federal Grid PJSC (FEES:RM)201.34Russian Federation
    Inter RAO UES PJSC (IRAO:RM)130.09Russian Federation
    TCS Group Holding PLC (TCS:LI)76.63Cyprus
    Evraz PLC (EVR:LN)74.71Russian Federation
    Aeroflot PJSC (AFLT:RM)74.03Russian Federation
    Sberbank of Russia PJSC (SBER:RM)57.52Russian Federation
    LSR Group PJSC (LSRG:LI)56.48Russian Federation
    Rosneft PJSC (ROSN:RM)55.87Russian Federation
    Moscow Exchange MICEX-RTS PJSC (MOEX:RM)49.11Russian Federation
    Mobile TeleSystems PJSC (MBT:US)42.90Russian Federation

    Worst Stocks YTD in USD %

    NameChngePctCountry
    QIWI plc (QIWI:US)-23.01Cyprus
    Mail.Ru Group Ltd (MAIL:LI)-17.52Russian Federation
    Magnit PJSC (MGNT:LI)-15.20Russian Federation
    TMK PJSC (TRMK:RM)-14.69Russian Federation
    TMK PJSC (TMKS:LI)-12.19Russian Federation
    MegaFon PJSC (MFON:LI)-7.30Russian Federation
    Magnit PJSC (MGNT:RM)-7.04Russian Federation
    MegaFon PJSC (MFON:RM)-6.24Russian Federation
    United Co RUSAL PLC (486:HK)-2.63Russian Federation
    AK Transneft OJSC (TRNFP:RM)-1.29Russian Federation

    Sector Performance 1m in USD %

    sectorChngePct
    Consumer Staples-1.16
    Communications0.33
    Materials5.24
    Energy5.91
    Financials8.66
    Consumer Discretionary10.14
    Utilities21.49

    Sector Performance YTD in USD %

    sectorChngePct
    Consumer Staples-11.12
    Materials15.54
    Communications17.23
    Energy20.85
    Financials37.43
    Consumer Discretionary74.03
    Utilities113.33

    Table of Contents


    Turkey Stance
         Turkey Valuations
         Turkey Top Stock Picks
         Turkey Top Bond Picks
         Turkey Last Month Performance Review

    South Africa Stance
         South Africa Valuations
         South Africa Top Stock Picks
         South Africa Top Bond Picks
         South Africa Last Month Performance Review

    Russia Stance
         Russia Valuations
         Russia Top Stock Picks
         Russia Top Bond Picks
         Russia Last Month Performance Review

    Korea Stance
         Korea Valuations
         Korea Top Stock Picks
         Korea Top Bond Picks
         Korea Last Month Performance Review

    India Stance
         India Valuations
         India Top Stock Picks
         India Top Bond Picks
         India Last Month Performance Review

    China Stance
         China Valuations
         China Top Stock Picks
         China Top Bond Picks
         China Last Month Performance Review

    Canada Stance
         Canada Valuations
         Canada Top Stock Picks
         Canada Top Bond Picks
         Canada Last Month Performance Review

    Brazil Stance
         Brazil Valuations
         Brazil Top Stock Picks
         Brazil Top Bond Picks
         Brazil Last Month Performance Review

    Australia Stance
         Australia Valuations
         Australia Top Stock Picks
         Australia Top Bond Picks
         Australia Last Month Performance Review


















    Russia



    Our Stance

    Russia has been one of the stronger markets this year supported by higher oil prices and unwinding of some political risk as consensus builds among investors that Putin is more unlikely to put himself for another 6 years in 2018. Privatization themes add further positives to the markets.




    Russia Last Month Review

    Russia RTSI$:IND Index gained 0.16% last month. To finish the month at 930.15

    MSCI Russia Index gained 1.92% last month. Its overall up 19.68% since the beginning of the year.

    At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

    RUB last month gained 3.28% against US dollar. To finish the month at 63.8022per USD.

    Sovereign eurobonds are trading with average yield of 4.05% and tightened by -0.44% last month.

    Corporate eurobonds are trading with average yield of 4.09% and tightened by -0.40% last month.

    Local currency bonds are trading with average yield of 9.07% and tightened by -0.36% last month.

    While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

    Best stocks last month in Russia included Inter RAO UES PJSC (IRAO:RM) +32.79%, Federal Grid PJSC (FEES:RM) +27.28%, LSR Group PJSC (LSRG:LI) +21.34%, Evraz PLC (EVR:LN) +17.31%, Tatneft PJSC (TATN:RM) +14.92%, Rosneft PJSC (ROSN:RM) +13.91%, Lukoil PJSC (LKOH:RM) +10.20%, Aeroflot PJSC (AFLT:RM) +10.14%, Severstal PJSC (CHMF:RM) +9.08%, Gazprom Neft PJSC (SIBN:RM) +9.05%, .

    Worst stocks last month included Mail.Ru Group Ltd (MAIL:LI) -6.06%, Magnit PJSC (MGNT:LI) -4.76%, MegaFon PJSC (MFON:LI) -3.57%, MegaFon PJSC (MFON:RM) -3.57%, Surgutneftegas OJSC (SNGSP:RM) -2.56%, Rostelecom PJSC (RTKM:RM) -1.82%, TMK PJSC (TRMK:RM) -1.73%, United Co RUSAL PLC (486:HK) -1.54%, TMK PJSC (TMKS:LI) 0.00%, Gazprom PJSC (GAZP:RM) 0.70%,

    Best stocks YTD included Federal Grid PJSC (FEES:RM) +201.34%, Inter RAO UES PJSC (IRAO:RM) +130.09%, TCS Group Holding PLC (TCS:LI) +76.63%, Evraz PLC (EVR:LN) +74.71%, Aeroflot PJSC (AFLT:RM) +74.03%, Sberbank of Russia PJSC (SBER:RM) +57.52%, LSR Group PJSC (LSRG:LI) +56.48%, Rosneft PJSC (ROSN:RM) +55.87%, Moscow Exchange MICEX-RTS PJSC (MOEX:RM) +49.11%, Mobile TeleSystems PJSC (MBT:US) +42.90%,

    While worst stocks YTD included QIWI plc (QIWI:US) -23.01%, Mail.Ru Group Ltd (MAIL:LI) -17.52%, Magnit PJSC (MGNT:LI) -15.20%, TMK PJSC (TRMK:RM) -14.69%, TMK PJSC (TMKS:LI) -12.19%, MegaFon PJSC (MFON:LI) -7.30%, Magnit PJSC (MGNT:RM) -7.04%, MegaFon PJSC (MFON:RM) -6.24%, United Co RUSAL PLC (486:HK) -2.63%, AK Transneft OJSC (TRNFP:RM) -1.29%,

    In terms of sector performance last month

    the best sectors included Utilities +21.49%, Consumer Discretionary +10.14%, Financials +8.66%,

    While worst sector performance last month showed Consumer Staples -1.16%, Communications 0.33%, Materials 5.24%,

    YTD the best sectors remain Utilities +113.33%, Consumer Discretionary +74.03%, Financials +37.43%,

    While the worst sectors are Consumer Staples -11.12%, Materials 15.54%, Communications 17.23%,

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    Some Political news headlines for Russia include:

  • The 'Trump effect' will help authoritarians around the world
  • Putin woos Russians by pledging to turn back clock
  • Who is Michael Garcia? Sportsmail provides lowdown on the FIFA ...
  • Doping in Russian football given toughest and serious control ...
  • Russia Extends Hold on Pension Savings for Budget Through 2015
  • Gold eases, near 2-week low as market eyes Fed statement
  • Ukrainian forces kill five separatists as Putin warns of consequences ...

    While some economic events and news headlines include:

    2016-06-01--Russia Markit Manufacturing PMI MAY

  • Russia's manufacturing PMI gives economy hope
  • U.S. Jobs, Australia Votes, Wimbledon: Week Ahead July 2-9

    2016-06-03--Russia Markit Services PMI MAY

  • U.S. Jobs, Australia Votes, Wimbledon: Week Ahead July 2-9
  • Russia''s Services PMI Shows Growth Slowed in May From April

    2016-06-06--Russia Inflation Rate YoY MAY

  • Fitch: Lack of Growth Pushes Russian Telecoms to Seek Synergies
  • Fitch: Reforms Key to Durable Turkish Macroeconomic Improvement

    2016-06-06--Russia Inflation Rate MoM MAY

  • NPR's full interview: President Obama on 'Obama's years'
  • MOM & POP: Containing Chernobyl is a daunting task

    2016-06-07--Russia Foreign Exchange Reserves MAY

  • Anders: The 'system' of 'fractional reserve banking'
  • Why Putin could be one of Brexit's biggest winners

    2016-06-10--Russia Interest Rate Decision

  • Russia: US Fed Decision to Maintain Key Interest Rates Expected
  • US Federal Reserve decision on interest rate will indirectly impact ...

    2016-06-10--Russia Balance of Trade APR

  • Investing Action Plan: Jobs Data; Apple, Facebook, Disney CEOs
  • Trade deficit expands

    2016-06-16--Russia Industrial Production YoY MAY

  • Ford's future models and platforms
  • Lakeland Industries Beats Our Estimates: Maintain Buy Rating

    2016-06-17--Russia PPI YoY MAY

  • Ubiquiti Networks Gaining Traction - A Look At Real Time Channel ...
  • Market briefing: UK markets closed stronger yesterday, helped by ...

    2016-06-17--Russia PPI MoM MAY

  • Market briefing: UK markets closed stronger yesterday, helped by ...
  • Ex-lollipop lady Elizabeth Hollins accuses RBS bosses of ...

    2016-06-15--Russia GDP Growth Rate YoY Final Q1

  • Taking The Rollercoaster Ride On The Asia-Europe Trade
  • 10 things you need to know before the opening bell

    2016-06-20--Russia Unemployment Rate MAY

  • Europe Is a Minefield
  • Investing Action Plan: Jobs Data; Apple, Facebook, Disney CEOs

    2016-06-20--Russia Real Wage Growth YoY MAY

  • Today's Market View Including: Aureus Mining, BHP Billiton, Kibo ...
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    2016-06-20--Russia Retail Sales YoY MAY

  • Ford's future models and platforms
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  • US think tank: Russia's authorities can do a lot to accelerate ...
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  • Russia must profit from weak ruble by diversifying exports, say ...

  • Russia Said to Keep $50 Oil Outlook in Budget After Crude Gains
  • Russia's Budget Deficit More Than Doubles in a Month

  • UPDATE 3-Russia's Sberbank sees margin squeeze worsening in ...

    Companies Reported last month include:

    (C) Sberbank of Russia PJSC

    fins

  • Russian Ruble Falls Most in World on Oil After Two-Day Holiday
  • Putin Promoting Sochi Tightens Grip as Investors Fret

    (P) Gazprom PAO

    energ

  • Sanctioned Russian Bank Courts London Investors in Sign of Thaw
  • Russia Beckons Brave Investors

    (C) Lukoil PJSC

    energ

  • Shell's BG Risk Starts to Pay as Output Added, Costs Slashed
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    Best Stocks Last Month and News

    Inter RAO UES PJSC (IRAO:RM)+32.79%

    Federal Grid PJSC (FEES:RM)+27.28%

    LSR Group PJSC (LSRG:LI)+21.34%

    Evraz PLC (EVR:LN)+17.31%

  • The Week Ahead: Nerves raw, confidence shaken

    Tatneft PJSC (TATN:RM)+14.92%

    Rosneft PJSC (ROSN:RM)+13.91%

    Lukoil PJSC (LKOH:RM)+10.20%

    Aeroflot PJSC (AFLT:RM)+10.14%

    Severstal PJSC (CHMF:RM)+9.08%

    Gazprom Neft PJSC (SIBN:RM)+9.05%

    Worst Stocks Last Month and News

    Mail.Ru Group Ltd (MAIL:LI) -6.06%

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    Magnit PJSC (MGNT:LI) -4.76%

    MegaFon PJSC (MFON:LI) -3.57%

    MegaFon PJSC (MFON:RM) -3.57%

    Surgutneftegas OJSC (SNGSP:RM) -2.56%

    Rostelecom PJSC (RTKM:RM) -1.82%

    TMK PJSC (TRMK:RM) -1.73%

    United Co RUSAL PLC (486:HK) -1.54%

    TMK PJSC (TMKS:LI) 0.00%

    Gazprom PJSC (GAZP:RM) 0.70%

  • Highest and Cheapest Gasoline Prices by Country

    Valuations







    Bond Picks

    Souvereign Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    RUSSIAN (FEDERATION OF) RegS 30122.07.50USDMar 31, 20304.042.36-0.05-0.10
  • Russian military achievements of recent years leave the West in a ...
    • RUSSIAN FEDERATION RegS 23108.74.88USDSep 16, 20236.093.49-0.432.70
  • IAAF suspends Russian high jumper Chicherova for doping probe
    • RUSSIAN (FEDERATION OF) RegS 28174.712.75USDJun 24, 20287.674.58-0.242.90
  • Historic icons make return journey to Russia for inspection
    • RUSSIAN FEDERATION (GOVERNMENT) RegS 20108.05.00USDApr 29, 20203.502.78-0.762.70
  • 'Weed' isn't necessarily a bad word
    • RUSSIAN FEDERATION RegS 42113.35.63USDApr 4, 204213.904.73-0.548.30
  • An American Brexit?

    • Corporate Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    SB CAPITAL SA RegS 22110.76.13USDFeb 7, 20224.743.97-0.683.50
  • @FGCU_Baseball Falls to Bisons in Dramatic Series Opener
    • EVRAZ GROUP SA RegS 21108.28.25USDJan 28, 20213.766.15-0.993.90
  • Evraz North America's stand alone credit profile cut to 'b-'
    • VIMPELCOM HOLDINGS NV RegS 22109.07.50USDMar 1, 20224.635.63-0.361.80
  • Top Ten International Anti-Corruption Developments For December ...
    • MMC FINANCE LTD RegS 20106.15.55USDOct 28, 20203.873.99-0.180.60
  • NICE Actimize Cited as a Leading Vendor for Holistic and ...
    • GAZ CAPITAL SA RegS 2898.004.95USDFeb 6, 20288.655.18-0.423.52
  • A Threat-Based Strategy for NATO's Southern Flank

    • Local Currency Bonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    RUSSIAN FEDERATION 231.467.00RUBJan 25, 20234.988.48-0.680.11
  • The Latest: Summer Sanders participated in medals ceremony
    • RUSSIAN FEDERATION 211.517.60RUBApr 14, 20213.878.61-0.650.10
  • OCR: only two Russian athletes have chances to participate in ...
    • RUSSIAN FEDERATION 191.486.80RUBDec 11, 20192.988.86-0.540.09
  • Secretary-General's visit to Belgium, Russian Federation and ...
    • RUSSIAN FEDERATION 271.578.15RUBFeb 3, 20276.848.32-0.650.14
  • Sistema to acquire 17.14% of SSTL from the Russian Federation
    • RUSSIAN FEDERATION 171.547.40RUBApr 19, 20170.749.760.050.07
  • Sistema to buy out Russian govt's 17% stake in Indian subsidiary

    • View Russia Econ Page






    • Korea Performance Snapshot

    Index 1 month Ch%YTD Ch%1 year Ch%
    KOSPI:IND -0.850.27-4.56
    MSCI Korea 5.785.21-3.26
    MSCI GEM 3.945.68-13.68
    MSCI BRIC 2.873.09-18.47
    MSCI World -0.370.43-5.30

    Indexes YTD performance %

    MSCI IndexYTDChange
    PERU48.6
    BRAZIL44.6
    BRAZIL ADR43.8
    EM LATIN AMERICA24.9
    EFM LATIN AMERICA & CARIBBEAN INDEX24.6
    COLOMBIA24.1
    ANDEAN22.2
    RUSSIA ADR/GDR21.1
    EM LATIN AMERICA WITH BRAZIL ADR20.1
    RUSSIA19.7
    THAILAND17.9
    NEW ZEALAND16.9
    EM ex ASIA16.4
    SOUTH AFRICA15.1
    CANADA14.5
    CHILE14.2
    INDONESIA13.7
    PHILIPPINES12.8
    EFM AFRICA12.0
    EMERGING + FRONTIER MARKETS WORKFORCE11.8
    EM EASTERN EUROPE11.5
    TURKEY10.5
    EM EMEA10.2
    SOUTH EAST ASIA9.0
    HUNGARY8.9
    EM EUROPE8.6
    TAIWAN8.5
    EFM EUROPE + CIS (E+C)8.3
    EFM EMEA8.3
    EM LATIN AMERICA ex BRAZIL7.9
    EMERGING MARKETS HORIZON7.0
    EM EUROPE & MIDDLE EAST6.7
    EM 506.2
    EM (EMERGING MARKETS)5.7
    EFM (EMERGING + FRONTIER MARKETS)5.5
    MALAYSIA5.4
    EM WITH BRAZIL + INDIA + RUSSIA DR5.2
    KOREA5.2
    EM WITH BRAZIL ADR4.8
    UNITED ARAB EMIRATES4.8
    NORWAY3.9
    SINGAPORE3.8
    INDIA DOMESTIC3.3
    NORTH AMERICA3.2
    BRIC3.1
    USA2.7
    EM FAR EAST1.7
    MEXICO1.7
    EM ASIA1.6
    EFM ASIA1.6
    ASIA APEX 501.4
    UNITED ARAB EMIRATES DOMESTIC1.2
    BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
    INDIA1.0
    BRIC WITH BRAZIL ADR0.9
    AUSTRALIA0.9
    PACIFIC ex JAPAN0.7
    JORDAN + EGYPT + MOROCCO0.6
    World0.4
    KOKUSAI INDEX (WORLD ex JP)0.4
    G7 INDEX0.4
    WORLD WITH USA GROSS-0.2
    BELGIUM-0.7
    DENMARK-1.2
    PORTUGAL-1.4
    HONG KONG-1.7
    EFM EUROPE + CIS (E+C) ex RU-1.8
    NETHERLANDS-3.1
    EM (EMERGING MARKETS)+CHINA A-3.5
    PACIFIC-3.8
    EAFE + CANADA-4.1
    EFM CEEC ex RU-4.1
    NORDIC COUNTRIES-4.4
    EM EASTERN EUROPE ex RUSSIA-4.5
    CZECH REPUBLIC-4.8
    EUROPE ex EMU-4.9
    CHINA 50-4.9
    QATAR-5.0
    FAR EAST-5.1
    UNITED KINGDOM-5.1
    SWITZERLAND-5.1
    FRANCE-5.2
    EASEA INDEX (EAFE ex JAPAN)-5.5
    EAFE ex ISRAEL-5.5
    EAFE-5.6
    EAFE ex UK-5.7
    JAPAN-6.0
    NIHONKABU-6.2
    PAN-EURO-6.3
    EUROPE-6.4
    CHINA-6.5
    EUROPE & MIDDLE EAST-6.5
    EGYPT-6.5
    SWEDEN-6.6
    EUROPE ex SWITZERLAND-6.7
    EU-6.8
    EUROPE ex UK-7.0
    POLAND-7.3
    QATAR DOMESTIC-7.8
    EMU ex GERMANY-7.9
    EMU-8.2
    EURO-8.5
    FINLAND-8.7
    GERMANY-8.9
    EFM AFRICA ex ZA-10.1
    AUSTRIA-11.5
    SPAIN-11.5
    CHINA A 50-12.9
    IRELAND-13.4
    ISRAEL-14.2
    ITALY-22.4
    GREECE-25.8

    Indexes 1m performance %

    IndexLastChnge
    Jakarta Stock Exchange Composite Index5016.1094.39
    Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
    Karachi Stock Exchange KSE100 Index37786.573.87
    FTSE 100 Index6360.061.19
    Shanghai Stock Exchange Composite Index2930.5490.48
    S&P BSE SENSEX Index26740.390.35
    Russian Trading System Cash Index930.150.16
    Hong Kong Hang Seng Index20791.68-0.28
    S&P/TSX Composite Index14036.74-0.35
    Korea Stock Exchange KOSPI Index1966.52-0.85
    Dow Jones Industrial Average17694.68-1.00
    Russian Depositary Index USD1069.58-1.15
    Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
    S&P 500 Index2070.77-1.35
    MICEX Index1888.15-2.62
    Borsa Istanbul 100 Index76711.97-2.87
    Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
    FTSE/JSE Africa All Share Index51890.42-4.74
    Deutsche Boerse AG German Stock Index DAX9612.27-7.18
    Nikkei 22515694.81-8.94

    Currencies 1m performance %

    TickerLastChnge
    USDNGN:CUR282.541.92
    USDGEL:CUR2.3559.92
    USDGBP:CUR0.74599.18
    USDARS:CUR14.9687.27
    USDTND:CUR2.21975.51
    USDAZN:CUR1.54794.24
    USDCRC:CUR546.632.08
    USDSEK:CUR8.46931.59
    USDKZT:CUR338.991.01
    USDHUF:CUR285.181.00
    USDCNH:CUR6.65470.97
    USDCNY:CUR 6.64330.88
    USDINR:CUR 67.6850.70
    USDRON:CUR4.07620.70
    USDPLN:CUR3.97860.60
    USDHRK:CUR6.76770.60
    USDEGP:CUR8.87960.55
    USDPHP:CUR46.9930.47
    USDCZK:CUR24.40320.47
    USDRSD:CUR110.98810.34
    USDNOK:CUR 8.39660.32
    USDKES:CUR101.250.32
    USDTTD:CUR6.65150.30
    USDMXN:CUR18.52910.30
    USDMAD:CUR9.79210.22
    USDBAM:CUR1.76060.20
    USDDKK:CUR6.69580.17
    USDLBP:CUR1513.750.15
    USDBGN:CUR1.76060.15
    USDLTL:CUR3.10820.14
    USDNLG:CUR1.98380.14
    USDEUR:CUR 0.90020.13
    USDLVL:CUR0.63260.13
    USDBHD:CUR0.377320.08
    USDQAR:CUR3.64130.03
    USDSAR:CUR3.75060.01
    USDOMR:CUR0.3850.00
    USDAED:CUR3.67290.00
    USDVEF:CUR9.98750.00
    USDPAB:CUR10.00
    USDBSD:CUR10.00
    USDBBD:CUR20.00
    USDBDT:CUR78.35-0.04
    USDHKD:CUR7.7586-0.12
    USDJOD:CUR0.7082-0.16
    USDPKR:CUR104.68-0.17
    USDKWD:CUR0.30185-0.17
    USDVND:CUR22300-0.42
    USDMDL:CUR19.82-0.43
    USDCAD:CUR 1.2946-0.80
    USDTWD:CUR32.275-1.03
    USDUAH:CUR24.8864-1.15
    USDCHF:CUR0.9799-1.30
    USDLKR:CUR146.25-1.32
    USDISK:CUR123.5-1.32
    USDTHB:CUR35.207-1.48
    USDTRL:CUR 2894310-2.04
    USDTRY:CUR2.8943-2.04
    USDPEN:CUR3.2887-2.30
    USDSGD:CUR1.3491-2.33
    USDMYR:CUR4.02-2.70
    USDAUD:CUR 1.3433-2.86
    USDIDR:CUR13179-3.24
    USDRUB:CUR 63.8022-3.28
    USDKRW:CUR 1152.54-3.30
    USDCLP:CUR661.95-4.15
    USDCOP:CUR2915.6-5.00
    USDNZD:CUR1.4091-5.37
    USDZAR:CUR 14.8227-6.12
    USDJPY:CUR 102.77-7.59
    USDBRL:CUR 3.2206-9.78

    Bond rates 1m performance %

    countryyield1wk1d1m1y
    GREECE 7.97%0.94 -41 +91 -663
    PORTUGAL 3.05%0.05 -6 +4 +1
    ITALY 1.37%0.01 -3 +2 -102
    INDIA 7.44%-0.02 -1 -3 -45
    JAPAN » -0.23%-0.11 +1 -12 --
    MEXICO 5.88%-0.22 -7 -20 -17
    SPAIN 1.25%-0.22 -6 -23 -109
    CANADA 1.12%-0.23 +5 -22 -62
    NEW ZEALAND 2.33%-0.26 +4 -22 --
    SWITZERLAND -0.62%-0.27 -2 -25 -67
    NETHERLANDS 0.10%-0.28 -2 -24 -96
    AUSTRALIA » 2.00%-0.29 +2 -25 --
    GERMANY » -0.13%-0.30 -1 -26 -92
    FRANCE 0.21%-0.30 -3 -25 -102
    HONG KONG 0.93%-0.30 +0 -- --
    SINGAPORE 1.92%-0.30 +6 -- --
    SOUTH KOREA 1.46%-0.34 -1 -32 --
    UNITED STATES » 1.51%-0.36 +5 -34 -81
    UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
    BRAZIL 12.12%-0.75 +10 -91 -53

    Commodities 1m performance %

    nameunitsPriceChng
    NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
    SugarUSD/LB.21.0119.92
    CoffeeUSD/LB.144.4519.08
    SilverUSD/T OZ.18.3313.92
    PalladiumUSD/T OZ.592.368.72
    GOLDUSD/T OZ.1316.158.62
    Copper$/t4838.003.05
    PlatinumUSD/T OZ.1004.332.78
    HogsUSD/LB.83.332.78
    COCOAUSD/MT3034.000.97
    OIL BrentUSD/BBL.49.990.73
    RiceUSD/CWT10.930.28
    CattleUSD/LB.114.13-1.98

    Best Stocks 1m in USD %ch

    NameChngePctCountry
    Hanwha Techwin Co Ltd (012450:KS)15.23Korea, Republic of (South)
    Doosan Infracore Co Ltd (042670:KS)14.13Korea, Republic of (South)
    LG Display Co Ltd (034220:KS)13.99Korea, Republic of (South)
    Korea Zinc Co Ltd (010130:KS)9.87Korea, Republic of (South)
    LG Household & Health Care Ltd (051900:KS)9.71Korea, Republic of (South)
    NHN Entertainment Corp (181710:KS)9.06Korea, Republic of (South)
    Lotte Chemical Corp (011170:KS)9.03Korea, Republic of (South)
    SK Hynix Inc (000660:KS)8.13Korea, Republic of (South)
    NCSoft Corp (036570:KS)7.73Korea, Republic of (South)
    NAVER Corp (035420:KS)6.51Korea, Republic of (South)

    Worst Stocks 1m in USD %

    NameChngePctCountry
    Hyundai Merchant Marine Co Ltd (011200:KS)-23.58Korea, Republic of (South)
    SK Innovation Co Ltd (096770:KS)-12.96Korea, Republic of (South)
    Samsung Heavy Industries Co Ltd (010140:KS)-12.20Korea, Republic of (South)
    Coway Co Ltd (021240:KS)-11.58Korea, Republic of (South)
    Hyundai Marine & Fire Insurance Co Ltd (001450:KS)-11.37Korea, Republic of (South)
    Daewoo Shipbuilding & Marine Engineering Co Ltd (042660:KS)-11.03Korea, Republic of (South)
    Hanon Systems (018880:KS)-10.92Korea, Republic of (South)
    Dongbu Insurance Co Ltd (005830:KS)-10.75Korea, Republic of (South)
    Lotte Shopping Co Ltd (023530:KS)-10.66Korea, Republic of (South)
    Hanwha Life Insurance Co Ltd (088350:KS)-10.59Korea, Republic of (South)

    Best Stocks YTD in USD %

    NameChngePctCountry
    Doosan Infracore Co Ltd (042670:KS)65.50Korea, Republic of (South)
    Posco Daewoo Corp (047050:KS)57.16Korea, Republic of (South)
    Hanwha Techwin Co Ltd (012450:KS)51.26Korea, Republic of (South)
    LS Corp (006260:KS)46.53Seoul, Korea, 135-798 Korea, Republic of (South)
    GS Engineering & Construction Corp (006360:KS)44.78Korea, Republic of (South)
    Hyundai Mipo Dockyard Co Ltd (010620:KS)39.19Korea, Republic of (South)
    OCI Co Ltd (010060:KS)37.18Korea, Republic of (South)
    Samsung Card Co Ltd (029780:KS)35.98Korea, Republic of (South)
    KT&G Corp (033780:KS)28.16Korea, Republic of (South)
    POSCO (005490:KS)25.40Korea, Republic of (South)

    Worst Stocks YTD in USD %

    NameChngePctCountry
    Hyundai Merchant Marine Co Ltd (011200:KS)-49.40Korea, Republic of (South)
    LG Chem Ltd (051915:KS)-27.05Korea, Republic of (South)
    LG Chem Ltd (051910:KS)-25.80Korea, Republic of (South)
    Hyundai Wia Corp (011210:KS)-21.01Korea, Republic of (South)
    Hanwha Life Insurance Co Ltd (088350:KS)-20.24Korea, Republic of (South)
    Samsung Engineering Co Ltd (028050:KS)-20.01Korea, Republic of (South)
    Samsung Electro-Mechanics Co Ltd (009150:KS)-18.57Korea, Republic of (South)
    Orion Corp/Republic of Korea (001800:KS)-18.32Korea, Republic of (South)
    Samsung Heavy Industries Co Ltd (010140:KS)-17.07Korea, Republic of (South)
    Kia Motors Corp (000270:KS)-16.93Korea, Republic of (South)

    Sector Performance 1m in USD %

    sectorChngePct
    Consumer Discretionary-6.03
    Energy-5.15
    Financials-4.96
    Industrials-2.40
    Utilities-0.46
    Consumer Staples-0.20
    Materials-0.11
    Communications1.51
    Health Care2.00
    Technology2.41

    Sector Performance YTD in USD %

    sectorChngePct
    Financials-3.56
    Consumer Discretionary-2.24
    Consumer Staples2.56
    Communications5.17
    Materials6.06
    Technology6.06
    Industrials12.28
    Energy15.27
    Utilities15.54
    Health Care15.76

    Table of Contents


    Turkey Stance
         Turkey Valuations
         Turkey Top Stock Picks
         Turkey Top Bond Picks
         Turkey Last Month Performance Review

    South Africa Stance
         South Africa Valuations
         South Africa Top Stock Picks
         South Africa Top Bond Picks
         South Africa Last Month Performance Review

    Russia Stance
         Russia Valuations
         Russia Top Stock Picks
         Russia Top Bond Picks
         Russia Last Month Performance Review

    Korea Stance
         Korea Valuations
         Korea Top Stock Picks
         Korea Top Bond Picks
         Korea Last Month Performance Review

    India Stance
         India Valuations
         India Top Stock Picks
         India Top Bond Picks
         India Last Month Performance Review

    China Stance
         China Valuations
         China Top Stock Picks
         China Top Bond Picks
         China Last Month Performance Review

    Canada Stance
         Canada Valuations
         Canada Top Stock Picks
         Canada Top Bond Picks
         Canada Last Month Performance Review

    Brazil Stance
         Brazil Valuations
         Brazil Top Stock Picks
         Brazil Top Bond Picks
         Brazil Last Month Performance Review

    Australia Stance
         Australia Valuations
         Australia Top Stock Picks
         Australia Top Bond Picks
         Australia Last Month Performance Review


















    Korea



    Our Stance

    Korean stocks have been pretty well supported by the tech sector. Yet an equal weight Korean index produced 30% outperformance over Kospi.




    Korea Last Month Review

    Korea KOSPI:IND Index lost-0.85% last month. To finish the month at 1966.52

    MSCI Korea Index gained 5.78% last month. Its overall up 5.21% since the beginning of the year.

    At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

    KRW last month gained 3.3% against US dollar. To finish the month at 1152.54per USD.

    Corporate eurobonds are trading with average yield of 1.94% and tightened by -0.25% last month.

    Local currency bonds are trading with average yield of 1.40% and tightened by -0.21% last month.

    While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

    Best stocks last month in Korea included Hanwha Techwin Co Ltd (012450:KS) +15.23%, Doosan Infracore Co Ltd (042670:KS) +14.13%, LG Display Co Ltd (034220:KS) +13.99%, Korea Zinc Co Ltd (010130:KS) +9.87%, LG Household & Health Care Ltd (051900:KS) +9.71%, NHN Entertainment Corp (181710:KS) +9.06%, Lotte Chemical Corp (011170:KS) +9.03%, SK Hynix Inc (000660:KS) +8.13%, NCSoft Corp (036570:KS) +7.73%, NAVER Corp (035420:KS) +6.51%, .

    Worst stocks last month included Hyundai Merchant Marine Co Ltd (011200:KS) -23.58%, SK Innovation Co Ltd (096770:KS) -12.96%, Samsung Heavy Industries Co Ltd (010140:KS) -12.20%, Coway Co Ltd (021240:KS) -11.58%, Hyundai Marine & Fire Insurance Co Ltd (001450:KS) -11.37%, Daewoo Shipbuilding & Marine Engineering Co Ltd (042660:KS) -11.03%, Hanon Systems (018880:KS) -10.92%, Dongbu Insurance Co Ltd (005830:KS) -10.75%, Lotte Shopping Co Ltd (023530:KS) -10.66%, Hanwha Life Insurance Co Ltd (088350:KS) -10.59%,

    Best stocks YTD included Doosan Infracore Co Ltd (042670:KS) +65.50%, Posco Daewoo Corp (047050:KS) +57.16%, Hanwha Techwin Co Ltd (012450:KS) +51.26%, LS Corp (006260:KS) +46.53%, GS Engineering & Construction Corp (006360:KS) +44.78%, Hyundai Mipo Dockyard Co Ltd (010620:KS) +39.19%, OCI Co Ltd (010060:KS) +37.18%, Samsung Card Co Ltd (029780:KS) +35.98%, KT&G Corp (033780:KS) +28.16%, POSCO (005490:KS) +25.40%,

    While worst stocks YTD included Hyundai Merchant Marine Co Ltd (011200:KS) -49.40%, LG Chem Ltd (051915:KS) -27.05%, LG Chem Ltd (051910:KS) -25.80%, Hyundai Wia Corp (011210:KS) -21.01%, Hanwha Life Insurance Co Ltd (088350:KS) -20.24%, Samsung Engineering Co Ltd (028050:KS) -20.01%, Samsung Electro-Mechanics Co Ltd (009150:KS) -18.57%, Orion Corp/Republic of Korea (001800:KS) -18.32%, Samsung Heavy Industries Co Ltd (010140:KS) -17.07%, Kia Motors Corp (000270:KS) -16.93%,

    In terms of sector performance last month

    the best sectors included Technology +2.41%, Health Care +2.00%, Communications +1.51%,

    While worst sector performance last month showed Consumer Discretionary -6.03%, Energy -5.15%, Financials -4.96%,

    YTD the best sectors remain Health Care +15.76%, Utilities +15.54%, Energy +15.27%,

    While the worst sectors are Financials -3.56%, Consumer Discretionary -2.24%, Consumer Staples 2.56%,

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    Some Political news headlines for Korea include:

  • Yoo takes new tack to stimulate the economy
  • Report: Kim says N. Korea has hydrogen bomb
  • Iran leader urges for nuclear weapons-free Korean Peninsula
  • S. Korea to open rice market in 2015 under high-tariff terms
  • [Anaysis] Ministry of Employment announces new guidelines for ...
  • 'Killer' dust

    While some economic events and news headlines include:

  • South Korean Economy Slowly Regaining Traction after ...
  • Brexit to cut S. Korea's economic growth: foreign IBs

  • South Korea Consumer Price Index Growth (YoY) fell from previous ...
  • Export contribution to S. Korea's growth hits 5-year low

  • The way we give disaster aid to poor countries makes no sense
  • South Korea's housing market booms - except for prices

  • South Korea Cuts Interest Rate
  • Export contribution to S. Korea's growth hits 5-year low

  • Free-trade lemmings are perilously close to the cliff
  • Macau's Glitter Fades as Beijing Takes Firmer Hand

  • South Korea in balancing act on household debt

    Companies Reported last month include:

    (P) Samsung Electronics Co Ltd

    Cons

  • Samsung Electronics announces Q1 results
  • Why Samsung Is Undervalued

    Best Stocks Last Month and News

    Hanwha Techwin Co Ltd (012450:KS)+15.23%

  • [ANALYST REPORT] The global robot revolution is here, and growing

    Doosan Infracore Co Ltd (042670:KS)+14.13%

  • StanChart private equity arm preferred bidder for Doosan Infracore ...

    LG Display Co Ltd (034220:KS)+13.99%

  • LG Display Q4 profit tumbles to lowest in nearly four years as panel ...

    Korea Zinc Co Ltd (010130:KS)+9.87%

    LG Household & Health Care Ltd (051900:KS)+9.71%

  • HSBC Finds Beauty in Korean Cosmetics Stocks

    NHN Entertainment Corp (181710:KS)+9.06%

  • Why Baidu And Alibaba Are JP Morgan's Top Picks

    Lotte Chemical Corp (011170:KS)+9.03%

  • South Korea's Hotel Lotte postpones $4.5 billion IPO indefinitely ...

    SK Hynix Inc (000660:KS)+8.13%

  • As tide turns against chip industry, Samsung forges ahead of rivals

    NCSoft Corp (036570:KS)+7.73%

  • Aggressive China online game firms eye global crown

    NAVER Corp (035420:KS)+6.51%

  • Line's IPO price range indicates strong demand, values firm at up to ...

    Worst Stocks Last Month and News

    Hyundai Merchant Marine Co Ltd (011200:KS) -23.58%

  • Korean Shipping Companies 'Under Severe Stress' as Debt Mounts

    SK Innovation Co Ltd (096770:KS) -12.96%

  • Philippines makes first exports of Galoc crude oil

    Samsung Heavy Industries Co Ltd (010140:KS) -12.20%

  • South Korean shipbuilding hub battens down the hatches as orders ...

    Coway Co Ltd (021240:KS) -11.58%

  • South Korea Stocks: Korea Exchange Bank, LG Display, Woongjin

    Hyundai Marine & Fire Insurance Co Ltd (001450:KS) -11.37%

    Daewoo Shipbuilding & Marine Engineering Co Ltd (042660:KS) -11.03%

  • Daewoo Shipbuilding shareholder says to sell controlling stake

    Hanon Systems (018880:KS) -10.92%

    Dongbu Insurance Co Ltd (005830:KS) -10.75%

    Lotte Shopping Co Ltd (023530:KS) -10.66%

  • South Korea's Hotel Lotte postpones $4.5 billion IPO indefinitely ...

    Hanwha Life Insurance Co Ltd (088350:KS) -10.59%

  • ING's Asia exit plan nears end as MBK agrees to buy South Korea unit

    Valuations




    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Korea Gas Corp036460:KSDaegu Korea, Republic of (South) Utility Networks3158.580.43%14.140.151.066.08-7.29-9.51
    LG Household & Health Care Ltd051900:KSKorea, Republic of (South) Household Products15957.260.47%38.893.128.0218.2866.1558.34
    Hanon Systems018880:KSKorea, Republic of (South) Auto Parts4803.180.48%22.970.994.3111.0346.8744.01
    S-1 Corp012750:KSKorea, Republic of (South) Comml & Res Bldg Equip & Sys3484.731.13%27.141.957.1830.6739.7655.25
    KT&G Corp033780:KSKorea, Republic of (South) Tobacco15737.522.57%16.514.0524.5342.4338.4993.72
    Hanwha Techwin Co Ltd012450:KSKorea, Republic of (South) Defense Primes2412.840.57%15.191.056.918.6636.5741.73
    Korea Electric Power Corp015760:KSKorea, Republic of (South) Utility Networks32767.545.25%2.660.6424.0613.9734.1174.25
    Samsung Electronics Co Ltd005935:KSKorea, Republic of (South) Communications Equipment21848.781.76%--0.00-0.0027.5832.36
    Hanwha Chemical Corp009830:KSKorea, Republic of (South) Basic & Diversified Chemicals3386.110.63%12.370.463.727.7927.2531.17
    Celltrion Inc068270:KSKorea, Republic of (South) Generic Pharma10106.41-62.5418.3329.31-0.0026.97-1.48
    SK Innovation Co Ltd096770:KSKorea, Republic of (South) Refining & Marketing11159.273.44%10.750.282.6036.9826.9060.52
    Yuhan Corp000100:KSKorea, Republic of (South) Specialty Pharma3034.000.64%20.992.7212.9613.4326.0536.23
    Hyundai Mobis Co Ltd012330:KSKorea, Republic of (South) Auto Parts21263.951.39%7.620.668.6610.5926.0342.44
    NCSoft Corp036570:KSKorea, Republic of (South) Application Software4761.661.09%27.876.1422.0330.3823.0552.37
    S-Oil Corp010950:KSKorea, Republic of (South) Refining & Marketing7470.373.13%10.170.515.0131.8322.9854.44
    NAVER Corp035420:KSKorea, Republic of (South) Internet Media21473.310.15%39.156.4116.375.8722.6810.55
    LG Electronics Inc066570:KSKorea, Republic of (South) Consumer Electronics7985.120.71%33.790.160.4723.9921.7217.18
    Hankook Tire Co Ltd161390:KSKorea, Republic of (South) Auto Parts5519.510.78%9.280.9710.457.2419.2332.42
    Samsung Electronics Co Ltd005930:KSKorea, Republic of (South) Communications Equipment179345.961.45%10.740.928.5715.5718.4936.67
    Amorepacific Corp090430:KSKorea, Republic of (South) Household Products22302.970.31%47.445.3511.2814.7114.97-1.71
    Dongbu Insurance Co Ltd005830:KSKorea, Republic of (South) P&C Insurance3975.262.39%9.940.303.0223.7613.1734.78
    Hite Jinro Co Ltd000080:KSKorea, Republic of (South) Beverages1462.064.15%31.460.872.77130.5611.04117.68
    LG Display Co Ltd034220:KSKorea, Republic of (South) Electronics Components8605.421.80%19.470.361.8535.0510.8633.07
    Coway Co Ltd021240:KSKorea, Republic of (South) Home Improvement6478.932.88%20.003.0215.1057.6010.5568.03
    Kangwon Land Inc035250:KSKorea, Republic of (South) Casinos & Gaming7569.862.40%18.355.0427.4744.0410.1468.07
    LG Corp003550:KSKorea, Republic of (South) Industrial Distribution & Rental9703.262.00%10.651.1010.3321.309.0534.81
    Samsung Card Co Ltd029780:KSKorea, Republic of (South) Consumer Finance4039.283.72%13.171.4210.7848.998.1959.57
    LG Chem Ltd051915:KSKorea, Republic of (South) Basic & Diversified Chemicals1178.302.55%--0.00-0.006.8311.61
    KT Corp030200:KSKorea, Republic of (South) Telecom Carriers6867.381.64%22.440.331.4736.805.4826.09
    Hyundai Motor Co005385:KSKorea, Republic of (South) Automobiles2005.363.30%--0.00-0.005.109.88
    Lotte Chemical Corp011170:KSKorea, Republic of (South) Basic & Diversified Chemicals8332.040.89%7.770.8210.556.924.6819.16
    NHN Entertainment Corp181710:KSKorea, Republic of (South) Application Software1132.45-6.431.7827.68-0.004.4430.48
    LG Uplus Corp032640:KSKorea, Republic of (South) Telecom Carriers4079.072.31%12.430.433.4628.714.2928.81
    Hyundai Motor Co005387:KSKorea, Republic of (South) Automobiles3088.503.27%--0.00-0.004.088.86
    Korea Zinc Co Ltd010130:KSKorea, Republic of (South) Base Metals8766.331.58%18.131.9010.4828.654.0729.84
    LS Industrial Systems Co Ltd010120:KSKorea, Republic of (South) Electrical Power Equipment1227.612.11%13.150.634.7927.753.8127.98
    Hyundai Mipo Dockyard Co Ltd010620:KSKorea, Republic of (South) Shipbuilding1190.41-20.370.291.42-0.003.39-10.78
    Hyundai Marine & Fire Insurance Co Ltd001450:KSKorea, Republic of (South) P&C Insurance2231.162.60%9.750.181.8525.352.2024.42
    Hyundai Motor Co005380:KSKorea, Republic of (South) Automobiles24964.102.29%5.270.295.5012.071.5918.67
    AMOREPACIFIC Group002790:KSKorea, Republic of (South) Household Products11838.390.23%42.641.964.609.811.11-22.35
    GS Engineering & Construction Corp006360:KSKorea, Republic of (South) Non-Residential Bldg Const1680.08-58.570.170.29-0.001.09-52.41
    Samsung C&T Corp/Old000830:KSKorea, Republic of (South) Chemicals Distribution0.00---0.000.00-0.024.76
    Lotte Confectionery Co Ltd004990:KSKorea, Republic of (South) Packaged Food2348.820.59%37.641.203.1922.21-0.03-7.49
    Samsung Electro-Mechanics Co Ltd009150:KSKorea, Republic of (South) Electronics Components3244.231.00%13.330.584.3513.33-0.988.15
    GS Holdings Corp078930:KSKorea, Republic of (South) Food & Drug Stores3829.923.15%8.610.354.0727.12-1.5825.77
    Samsung SDI Co Ltd006400:KSKorea, Republic of (South) Electronics Components6484.120.92%-1.070.00-0.00-1.812.97
    CJ CheilJedang Corp097950:KSKorea, Republic of (South) Packaged Food4394.840.65%24.660.391.5816.03-1.99-4.27
    LG Chem Ltd051910:KSKorea, Republic of (South) Basic & Diversified Chemicals14304.871.80%14.400.825.6925.92-2.3419.65
    Shinhan Financial Group Co Ltd055550:KSKorea, Republic of (South) Banks15383.683.20%7.191.0815.0223.01-3.2932.32
    Kia Motors Corp000270:KSKorea, Republic of (South) Automobiles14571.332.65%6.230.335.3016.51-3.7916.57
    Doosan Heavy Industries & Construction Co Ltd034020:KSKorea, Republic of (South) Electrical Power Equipment2029.593.85%-0.140.00-0.00-4.110.67
    POSCO005490:KSKorea, Republic of (South) Steel Producers15273.813.95%91.670.290.32362.10-4.21271.31
    Daelim Industrial Co Ltd000210:KSKorea, Republic of (South) Non-Residential Bldg Const2333.250.39%16.640.281.686.49-4.89-8.58
    Posco Daewoo Corp047050:KSKorea, Republic of (South) Metal Svc Center & Other Whslrs2408.512.04%26.750.160.6054.57-5.4527.75
    Hyundai Glovis Co Ltd086280:KSKorea, Republic of (South) Logistics Services5548.061.75%14.720.432.9225.76-5.8012.93
    Cheil Worldwide Inc030000:KSKorea, Republic of (South) Advertising & Marketing1642.011.82%22.090.582.6340.20-5.8719.64
    Samsung Fire & Marine Insurance Co Ltd000810:KSKorea, Republic of (South) P&C Insurance10942.991.93%14.540.563.8528.06-6.7915.36
    Samsung Life Insurance Co Ltd032830:KSKorea, Republic of (South) Life Insurance16472.011.89%8.830.697.8116.69-6.8813.57
    Korea Aerospace Industries Ltd047810:KSKorea, Republic of (South) Defense Primes6223.720.54%33.882.417.1118.30-7.65-11.34
    KB Financial Group Inc105560:KSKorea, Republic of (South) Banks10763.043.04%7.590.8010.5423.07-7.7023.11
    Daewoo Engineering & Construction Co Ltd047040:KSKorea, Republic of (South) Non-Residential Bldg Const2046.02-22.490.231.02-0.00-8.12-24.81
    Kumho Petrochemical Co Ltd011780:KSKorea, Republic of (South) Basic & Diversified Chemicals1679.211.26%15.350.422.7419.34-9.561.95
    Hyundai Heavy Industries Co Ltd009540:KSKorea, Republic of (South) Shipbuilding6706.46--0.130.000.00-9.99-5.21
    Doosan Corp000150:KSKorea, Republic of (South) Electrical Power Equipment1731.984.84%-0.080.00-0.00-10.03-5.25
    SK Telecom Co Ltd017670:KSKorea, Republic of (South) Telecom Carriers14949.394.67%9.370.909.6143.76-11.3337.44
    Hyundai Department Store Co Ltd069960:KSKorea, Republic of (South) Department Stores2591.920.55%11.921.7014.266.56-11.981.70
    Hyundai Wia Corp011210:KSKorea, Republic of (South) Auto Parts1975.951.31%8.300.293.4910.87-12.13-1.28
    OCI Co Ltd010060:KSKorea, Republic of (South) Renewable Energy Equipment2026.13--0.850.000.00-12.91-8.13
    Industrial Bank of Korea024110:KSKorea, Republic of (South) Banks5401.854.04%6.350.6910.8725.65-15.4819.47
    Hyosung Corp004800:KSKorea, Republic of (South) Basic & Diversified Chemicals3630.942.93%7.810.324.1022.88-16.677.27
    Hyundai Engineering & Construction Co Ltd000720:KSKorea, Republic of (South) Infrastructure Construction3164.631.52%10.750.191.7716.34-16.84-4.71
    Lotte Shopping Co Ltd023530:KSKorea, Republic of (South) Department Stores5394.071.01%-0.200.00-0.00-17.08-12.30
    LG Innotek Co Ltd011070:KSKorea, Republic of (South) Electronics Components1607.410.45%33.880.320.9415.25-17.51-30.42
    Hana Financial Group Inc086790:KSKorea, Republic of (South) Diversified Banks5876.812.83%7.120.517.1620.15-20.154.82
    Orion Corp/Republic of Korea001800:KSKorea, Republic of (South) Packaged Food4735.700.66%29.361.996.7819.38-20.87-19.29
    NH Investment & Securities Co Ltd005940:KSKorea, Republic of (South) Institutional Brokerage2219.924.39%10.621.7216.2046.62-21.0435.94
    KCC Corp002380:KSKorea, Republic of (South) Basic & Diversified Chemicals3365.342.44%20.331.055.1649.61-21.7417.47
    Hyundai Securities Co Ltd003450:KSKorea, Republic of (South) Institutional Brokerage1283.857.97%5.691.2922.6745.35-23.7243.39
    DGB Financial Group Inc139130:KSKorea, Republic of (South) Banks1247.513.28%4.970.499.8616.30-24.051.92
    SK Hynix Inc000660:KSKorea, Republic of (South) Semiconductor Devices19303.571.63%6.331.2419.5910.32-24.324.03
    CJ Corp001040:KSKorea, Republic of (South) Packaged Food5271.220.65%31.400.240.7620.41-24.32-29.77
    Mirae Asset Securities Co Ltd037620:KSKorea, Republic of (South) Institutional Brokerage2309.021.50%10.862.0719.0616.29-25.154.12
    SK Holdings Co Ltd034730:KSKorea, Republic of (South) IT Services12326.331.68%1.920.189.383.23-25.25-9.79
    Doosan Infracore Co Ltd042670:KSKorea, Republic of (South) Construction & Mining Machinery1286.44--0.220.000.00-25.62-20.85
    Korea Investment Holdings Co Ltd071050:KSKorea, Republic of (South) Institutional Brokerage2090.152.31%8.431.6819.9319.47-26.199.57
    E-MART Inc139480:KSKorea, Republic of (South) Food & Drug Stores4015.050.90%10.210.333.239.19-27.87-20.88
    Hyundai Steel Co004020:KSKorea, Republic of (South) Steel Producers5298.901.63%8.640.354.0514.08-28.27-14.00
    Hanwha Life Insurance Co Ltd088350:KSKorea, Republic of (South) Life Insurance4260.753.17%9.220.303.2529.23-29.02-0.98
    Hanwha Corp000880:KSKorea, Republic of (South) Insurance Services & Other2279.611.42%-0.050.00-0.00-29.10-24.32
    Samsung Securities Co Ltd016360:KSKorea, Republic of (South) Institutional Brokerage2330.652.84%10.592.0219.0730.08-31.4411.90
    SK Networks Co Ltd001740:KSKorea, Republic of (South) Refining & Marketing1269.141.69%20.380.070.3434.44-33.56-14.38
    BNK Financial Group Inc138930:KSKorea, Republic of (South) Banks2264.041.87%4.330.5312.248.10-39.71-18.93
    Korean Air Lines Co Ltd003490:KSKorea, Republic of (South) Airlines1610.00--0.160.000.00-40.71-35.93
    Hyundai Development Co-Engineering & Construction012630:KSKorea, Republic of (South) Non-Residential Bldg Const2514.061.30%11.000.625.6414.30-41.38-27.66
    Mirae Asset Daewoo Co Ltd006800:KSKorea, Republic of (South) Institutional Brokerage2246.734.15%10.642.0319.0844.16-43.4413.94
    Samsung Engineering Co Ltd028050:KSKorea, Republic of (South) Infrastructure Construction1729.39--0.070.000.00-48.90-44.12
    Samsung Heavy Industries Co Ltd010140:KSKorea, Republic of (South) Shipbuilding1770.05--0.190.000.00-51.19-46.42
    Daewoo Shipbuilding & Marine Engineering Co Ltd042660:KSKorea, Republic of (South) Shipbuilding1017.39--0.060.000.00-67.90-63.12
    Hyundai Merchant Marine Co Ltd011200:KSKorea, Republic of (South) Marine Shipping395.66--0.080.000.00-70.32-65.55
    Shinsegae Co Ltd004170:KSKorea, Republic of (South) Department Stores1618.650.66%4.760.7315.343.14-26.69-8.19
    LS Corp006260:KSSeoul, Korea, 135-798 Korea, Republic of (South) Electrical Components1579.722.20%-0.160.00-0.0038.1142.89

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications49011.26.110.3794505.824.843.32.03.224.918.236.810.713.62.97.4-0.7
    Consumer Discretionary103455.312.86.6509681.015.627.01.92.09.516.4-42.19.39.60.37.63.1
    Consumer Staples91893.811.47.5584775.320.638.01.01.833.328.218.19.810.30.518.212.3
    Energy21924.92.712.6973390.431.740.83.24.411.112.4-10.53.49.76.318.4-21.0
    Financials97618.312.132.82543065.724.226.02.84.09.18.83.410.220.410.2-11.33.2
    Health Care13140.41.62.3178295.83.120.30.61.052.931.766.925.517.0-8.526.813.6
    Industrials59775.47.45.8453138.212.223.41.61.819.618.65.45.711.45.7-4.622.9
    Materials67624.48.47.6590209.422.827.52.23.113.818.1-23.85.19.84.7-3.5-0.1
    Technology266645.033.010.8833615.614.029.21.52.311.518.9-39.29.219.810.613.02.8
    Utilities35926.14.53.7288099.013.332.24.83.13.712.4-70.222.013.4-8.630.5-5.6

    Top 5 Korea Index Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    POSCO005490:KSKorea, Republic of (South) Steel Producers15273.813.95%91.670.290.32362.10-4.21271.31
    Hite Jinro Co Ltd000080:KSKorea, Republic of (South) Beverages1462.064.15%31.460.872.77130.5611.04117.68
    KT&G Corp033780:KSKorea, Republic of (South) Tobacco15737.522.57%16.514.0524.5342.4338.4993.72
    Korea Electric Power Corp015760:KSKorea, Republic of (South) Utility Networks32767.545.25%2.660.6424.0613.9734.1174.25
    Kangwon Land Inc035250:KSKorea, Republic of (South) Casinos & Gaming7569.862.40%18.355.0427.4744.0410.1468.07

    Top 5 Korea Index Short Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Hyundai Merchant Marine Co Ltd011200:KSKorea, Republic of (South) Marine Shipping395.66--0.080.000.00-70.32-65.55
    Daewoo Shipbuilding & Marine Engineering Co Ltd042660:KSKorea, Republic of (South) Shipbuilding1017.39--0.060.000.00-67.90-63.12
    GS Engineering & Construction Corp006360:KSKorea, Republic of (South) Non-Residential Bldg Const1680.08-58.570.170.29-0.001.09-52.41
    Samsung Heavy Industries Co Ltd010140:KSKorea, Republic of (South) Shipbuilding1770.05--0.190.000.00-51.19-46.42
    Samsung Engineering Co Ltd028050:KSKorea, Republic of (South) Infrastructure Construction1729.39--0.070.000.00-48.90-44.12
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    Weekly Fund flow into Korea focused funds showed (Previous Week)-104.4 USD mn of outflow.


    Top 10 Korea Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    KOREA FUND INC/THE (KF)14.9231.5
    FIDELITY FUNDS - KOREA FUND - A (FIDFKLI)6.4143.8
    JPMORGAN KOREAN FUND (JFKORTI)3.7304.8
    KOREA EQUITY FUND INC (KEF)3.580.3
    KB CHINA MAINLAND A SHARE LEVERAGE SEC FEEDER INVST TRUST-EQUITY-DERV FOF (3AF8926)3.2175.5
    UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (099340)3.138.1
    MATTHEWS KOREA FUND (MAKOX)2.7202.3
    INVESCO KOREAN EQUITY FUND - C INC (INVKGDB)1.9237.5
    UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (2772642)1.238.1
    INVESCO KOREAN EQUITY FUND - B INC (INVKGBB)0.5237.5

    Top 10 Korea Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    ISHARES MSCI SOUTH KOREA CAPPED ETF (EWY)-111.23136.0
    MIRAE ASSET TIGER CONSUMER STAPLES ETF (139280)-28.6290.7
    JPMORGAN FUNDS - KOREA EQUITY FUND (JR63)-13.1167.1
    MIRAE ROGERS AGRICULTURAL PRODUCT INDEX SPECIAL ASSET INVEST CMDTY-DERIVATIVE (5620974)-11.971.2
    MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)-9.6310.0
    KOREA FUND INC/THE (XKFDX)-5.7231.5
    BARING KOREA FEEDER FUND (BRGKORI)-2.863.6
    WISDOMTREE KOREA HEDGED EQUITY FUND (DXKW)-2.116.2
    LYXOR ETF MSCI KOREA (KOR)-1.987.3
    JPMORGAN FUNDS - KOREA EQUITY FUND - A$D (JPFJKAD)-0.9147.0



    Bond Picks

    Corporate Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    EXPORT-IMPORT BANK OF KOREA 21111.54.38USDSep 15, 20214.672.02-0.210.90
  • UPDATE 3-S.Korea creates $9.5 bln fund for banks exposed to ...
    • KOREA GAS CORP MTN RegS 24110.83.88USDFeb 12, 20246.592.32-0.332.30
  • Co-ordinated education spending is key to success
    • KOREA DEVELOPMENT BANK 24110.03.75USDJan 22, 20246.562.29-0.292.00
  • Guyana closer to all-clear over anti-money laundering framework ...
    • EXPORT-IMPORT BANK OF KOREA 25103.62.88USDJan 21, 20257.512.41-0.181.50
  • BUSINESS IN BRIEF 3/7
    • KOREA DEVELOPMENT BANK (THE) 17102.53.50USDAug 22, 20171.121.24-0.220.10
  • Asian millionaires top charts while wage gap widens

    • Local Currency Bonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    KOREA (REPUBLIC OF) 170.092.75KRWSep 10, 20171.171.31-0.140.00
  • USA claim fourth FIBA U17 World Championship title
    • KOREA (REPUBLIC OF) 270.125.25KRWMar 10, 20278.541.50-0.280.01
  • Seeing Syrian refugees another way - as economic assets
    • KOREA MONETARY STABILIZATION BOND 170.091.71KRWApr 2, 20170.751.32-0.120.01
  • Russian Manufacturing Gauge Returns to Growth as Output Surges
    • KOREA (REPUBLIC OF) 180.105.75KRWSep 10, 20182.051.30-0.180.01
  • USA claim fourth FIBA U17 World Championship title
    • KOREA (REPUBLIC OF) 170.095.50KRWSep 10, 20171.151.29-0.190.00
  • USA claim fourth FIBA U17 World Championship title

    • View Korea Econ Page






    • India Performance Snapshot

    Index 1 month Ch%YTD Ch%1 year Ch%
    SENSEX:IND 0.352.82-1.87
    MSCI India 1.771.03-7.28
    MSCI GEM 3.945.68-13.68
    MSCI BRIC 2.873.09-18.47
    MSCI World -0.370.43-5.30

    Indexes YTD performance %

    MSCI IndexYTDChange
    PERU48.6
    BRAZIL44.6
    BRAZIL ADR43.8
    EM LATIN AMERICA24.9
    EFM LATIN AMERICA & CARIBBEAN INDEX24.6
    COLOMBIA24.1
    ANDEAN22.2
    RUSSIA ADR/GDR21.1
    EM LATIN AMERICA WITH BRAZIL ADR20.1
    RUSSIA19.7
    THAILAND17.9
    NEW ZEALAND16.9
    EM ex ASIA16.4
    SOUTH AFRICA15.1
    CANADA14.5
    CHILE14.2
    INDONESIA13.7
    PHILIPPINES12.8
    EFM AFRICA12.0
    EMERGING + FRONTIER MARKETS WORKFORCE11.8
    EM EASTERN EUROPE11.5
    TURKEY10.5
    EM EMEA10.2
    SOUTH EAST ASIA9.0
    HUNGARY8.9
    EM EUROPE8.6
    TAIWAN8.5
    EFM EUROPE + CIS (E+C)8.3
    EFM EMEA8.3
    EM LATIN AMERICA ex BRAZIL7.9
    EMERGING MARKETS HORIZON7.0
    EM EUROPE & MIDDLE EAST6.7
    EM 506.2
    EM (EMERGING MARKETS)5.7
    EFM (EMERGING + FRONTIER MARKETS)5.5
    MALAYSIA5.4
    EM WITH BRAZIL + INDIA + RUSSIA DR5.2
    KOREA5.2
    EM WITH BRAZIL ADR4.8
    UNITED ARAB EMIRATES4.8
    NORWAY3.9
    SINGAPORE3.8
    INDIA DOMESTIC3.3
    NORTH AMERICA3.2
    BRIC3.1
    USA2.7
    EM FAR EAST1.7
    MEXICO1.7
    EM ASIA1.6
    EFM ASIA1.6
    ASIA APEX 501.4
    UNITED ARAB EMIRATES DOMESTIC1.2
    BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
    INDIA1.0
    BRIC WITH BRAZIL ADR0.9
    AUSTRALIA0.9
    PACIFIC ex JAPAN0.7
    JORDAN + EGYPT + MOROCCO0.6
    World0.4
    KOKUSAI INDEX (WORLD ex JP)0.4
    G7 INDEX0.4
    WORLD WITH USA GROSS-0.2
    BELGIUM-0.7
    DENMARK-1.2
    PORTUGAL-1.4
    HONG KONG-1.7
    EFM EUROPE + CIS (E+C) ex RU-1.8
    NETHERLANDS-3.1
    EM (EMERGING MARKETS)+CHINA A-3.5
    PACIFIC-3.8
    EAFE + CANADA-4.1
    EFM CEEC ex RU-4.1
    NORDIC COUNTRIES-4.4
    EM EASTERN EUROPE ex RUSSIA-4.5
    CZECH REPUBLIC-4.8
    EUROPE ex EMU-4.9
    CHINA 50-4.9
    QATAR-5.0
    FAR EAST-5.1
    UNITED KINGDOM-5.1
    SWITZERLAND-5.1
    FRANCE-5.2
    EASEA INDEX (EAFE ex JAPAN)-5.5
    EAFE ex ISRAEL-5.5
    EAFE-5.6
    EAFE ex UK-5.7
    JAPAN-6.0
    NIHONKABU-6.2
    PAN-EURO-6.3
    EUROPE-6.4
    CHINA-6.5
    EUROPE & MIDDLE EAST-6.5
    EGYPT-6.5
    SWEDEN-6.6
    EUROPE ex SWITZERLAND-6.7
    EU-6.8
    EUROPE ex UK-7.0
    POLAND-7.3
    QATAR DOMESTIC-7.8
    EMU ex GERMANY-7.9
    EMU-8.2
    EURO-8.5
    FINLAND-8.7
    GERMANY-8.9
    EFM AFRICA ex ZA-10.1
    AUSTRIA-11.5
    SPAIN-11.5
    CHINA A 50-12.9
    IRELAND-13.4
    ISRAEL-14.2
    ITALY-22.4
    GREECE-25.8

    Indexes 1m performance %

    IndexLastChnge
    Jakarta Stock Exchange Composite Index5016.1094.39
    Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
    Karachi Stock Exchange KSE100 Index37786.573.87
    FTSE 100 Index6360.061.19
    Shanghai Stock Exchange Composite Index2930.5490.48
    S&P BSE SENSEX Index26740.390.35
    Russian Trading System Cash Index930.150.16
    Hong Kong Hang Seng Index20791.68-0.28
    S&P/TSX Composite Index14036.74-0.35
    Korea Stock Exchange KOSPI Index1966.52-0.85
    Dow Jones Industrial Average17694.68-1.00
    Russian Depositary Index USD1069.58-1.15
    Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
    S&P 500 Index2070.77-1.35
    MICEX Index1888.15-2.62
    Borsa Istanbul 100 Index76711.97-2.87
    Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
    FTSE/JSE Africa All Share Index51890.42-4.74
    Deutsche Boerse AG German Stock Index DAX9612.27-7.18
    Nikkei 22515694.81-8.94

    Currencies 1m performance %

    TickerLastChnge
    USDNGN:CUR282.541.92
    USDGEL:CUR2.3559.92
    USDGBP:CUR0.74599.18
    USDARS:CUR14.9687.27
    USDTND:CUR2.21975.51
    USDAZN:CUR1.54794.24
    USDCRC:CUR546.632.08
    USDSEK:CUR8.46931.59
    USDKZT:CUR338.991.01
    USDHUF:CUR285.181.00
    USDCNH:CUR6.65470.97
    USDCNY:CUR 6.64330.88
    USDINR:CUR 67.6850.70
    USDRON:CUR4.07620.70
    USDPLN:CUR3.97860.60
    USDHRK:CUR6.76770.60
    USDEGP:CUR8.87960.55
    USDPHP:CUR46.9930.47
    USDCZK:CUR24.40320.47
    USDRSD:CUR110.98810.34
    USDNOK:CUR 8.39660.32
    USDKES:CUR101.250.32
    USDTTD:CUR6.65150.30
    USDMXN:CUR18.52910.30
    USDMAD:CUR9.79210.22
    USDBAM:CUR1.76060.20
    USDDKK:CUR6.69580.17
    USDLBP:CUR1513.750.15
    USDBGN:CUR1.76060.15
    USDLTL:CUR3.10820.14
    USDNLG:CUR1.98380.14
    USDEUR:CUR 0.90020.13
    USDLVL:CUR0.63260.13
    USDBHD:CUR0.377320.08
    USDQAR:CUR3.64130.03
    USDSAR:CUR3.75060.01
    USDOMR:CUR0.3850.00
    USDAED:CUR3.67290.00
    USDVEF:CUR9.98750.00
    USDPAB:CUR10.00
    USDBSD:CUR10.00
    USDBBD:CUR20.00
    USDBDT:CUR78.35-0.04
    USDHKD:CUR7.7586-0.12
    USDJOD:CUR0.7082-0.16
    USDPKR:CUR104.68-0.17
    USDKWD:CUR0.30185-0.17
    USDVND:CUR22300-0.42
    USDMDL:CUR19.82-0.43
    USDCAD:CUR 1.2946-0.80
    USDTWD:CUR32.275-1.03
    USDUAH:CUR24.8864-1.15
    USDCHF:CUR0.9799-1.30
    USDLKR:CUR146.25-1.32
    USDISK:CUR123.5-1.32
    USDTHB:CUR35.207-1.48
    USDTRL:CUR 2894310-2.04
    USDTRY:CUR2.8943-2.04
    USDPEN:CUR3.2887-2.30
    USDSGD:CUR1.3491-2.33
    USDMYR:CUR4.02-2.70
    USDAUD:CUR 1.3433-2.86
    USDIDR:CUR13179-3.24
    USDRUB:CUR 63.8022-3.28
    USDKRW:CUR 1152.54-3.30
    USDCLP:CUR661.95-4.15
    USDCOP:CUR2915.6-5.00
    USDNZD:CUR1.4091-5.37
    USDZAR:CUR 14.8227-6.12
    USDJPY:CUR 102.77-7.59
    USDBRL:CUR 3.2206-9.78

    Bond rates 1m performance %

    countryyield1wk1d1m1y
    GREECE 7.97%0.94 -41 +91 -663
    PORTUGAL 3.05%0.05 -6 +4 +1
    ITALY 1.37%0.01 -3 +2 -102
    INDIA 7.44%-0.02 -1 -3 -45
    JAPAN » -0.23%-0.11 +1 -12 --
    MEXICO 5.88%-0.22 -7 -20 -17
    SPAIN 1.25%-0.22 -6 -23 -109
    CANADA 1.12%-0.23 +5 -22 -62
    NEW ZEALAND 2.33%-0.26 +4 -22 --
    SWITZERLAND -0.62%-0.27 -2 -25 -67
    NETHERLANDS 0.10%-0.28 -2 -24 -96
    AUSTRALIA » 2.00%-0.29 +2 -25 --
    GERMANY » -0.13%-0.30 -1 -26 -92
    FRANCE 0.21%-0.30 -3 -25 -102
    HONG KONG 0.93%-0.30 +0 -- --
    SINGAPORE 1.92%-0.30 +6 -- --
    SOUTH KOREA 1.46%-0.34 -1 -32 --
    UNITED STATES » 1.51%-0.36 +5 -34 -81
    UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
    BRAZIL 12.12%-0.75 +10 -91 -53

    Commodities 1m performance %

    nameunitsPriceChng
    NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
    SugarUSD/LB.21.0119.92
    CoffeeUSD/LB.144.4519.08
    SilverUSD/T OZ.18.3313.92
    PalladiumUSD/T OZ.592.368.72
    GOLDUSD/T OZ.1316.158.62
    Copper$/t4838.003.05
    PlatinumUSD/T OZ.1004.332.78
    HogsUSD/LB.83.332.78
    COCOAUSD/MT3034.000.97
    OIL BrentUSD/BBL.49.990.73
    RiceUSD/CWT10.930.28
    CattleUSD/LB.114.13-1.98

    Best Stocks 1m in USD %ch

    NameChngePctCountry
    Jaiprakash Associates Ltd (JPA:IN)106.54India
    Unitech Ltd (UT:IN)77.69India
    Bank of India (BOI:IN)30.89India
    Aditya Birla Nuvo Ltd (ABNL:IN)20.74India
    Jindal Steel & Power Ltd (JSP:IN)19.23India
    Canara Bank (CBK:IN)19.03India
    DLF Ltd (DLFU:IN)18.41India
    Bharat Heavy Electricals Ltd (BHEL:IN)17.79India
    Adani Enterprises Ltd (ADE:IN)17.08India
    Hindalco Industries Ltd (HNDL:IN)16.81India

    Worst Stocks 1m in USD %

    NameChngePctCountry
    Infosys Ltd (INFO:IN)-6.41India
    Tata Consultancy Services Ltd (TCS:IN)-4.78India
    Kotak Mahindra Bank Ltd (KMB:IN)-4.03India
    Asian Paints Ltd (APNT:IN)-3.69India
    Apollo Hospitals Enterprise Ltd (APHS:IN)-1.84India
    Tata Steel Ltd (TATA:IN)-1.73India
    Hero MotoCorp Ltd (HMCL:IN)-1.40India
    Bajaj Auto Ltd (BJAUT:IN)-1.31India
    Divi's Laboratories Ltd (DIVI:IN)-0.43India
    Idea Cellular Ltd (IDEA:IN)-0.43India

    Best Stocks YTD in USD %

    NameChngePctCountry
    Piramal Enterprises Ltd (PIEL:IN)49.06India
    Hindalco Industries Ltd (HNDL:IN)42.80India
    JSW Steel Ltd (JSTL:IN)42.15India
    Mahindra & Mahindra Financial Services Ltd (MMFS:IN)41.24India
    Shriram Transport Finance Co Ltd (SHTF:IN)39.41India
    DLF Ltd (DLFU:IN)28.63India
    Tata Steel Ltd (TATA:IN)27.10India
    Bharat Petroleum Corp Ltd (BPCL:IN)24.26India
    Aditya Birla Nuvo Ltd (ABNL:IN)22.84India
    Godrej Consumer Products Ltd (GCPL:IN)21.75Mumbai, 400079 India

    Worst Stocks YTD in USD %

    NameChngePctCountry
    Reliance Communications Ltd (RCOM:IN)-43.51India
    Wockhardt Ltd (WPL:IN)-41.53India
    Idea Cellular Ltd (IDEA:IN)-27.90India
    Cipla Ltd/India (CIPLA:IN)-24.14India
    Jindal Steel & Power Ltd (JSP:IN)-24.02India
    Adani Ports & Special Economic Zone Ltd (ADSEZ:IN)-21.02India
    Bharat Heavy Electricals Ltd (BHEL:IN)-20.02India
    United Breweries Ltd (UBBL:IN)-17.94India
    Lupin Ltd (LPC:IN)-16.95India
    Rural Electrification Corp Ltd (RECL:IN)-13.57India

    Sector Performance 1m in USD %

    sectorChngePct
    Technology-1.26
    Health Care3.80
    Consumer Discretionary4.51
    Consumer Staples4.84
    Utilities5.51
    Communications5.90
    Energy7.58
    Industrials8.82
    Financials14.00
    Materials18.31

    Sector Performance YTD in USD %

    sectorChngePct
    Communications-7.71
    Health Care-5.09
    Industrials-3.84
    Technology-1.25
    Utilities0.82
    Financials1.32
    Consumer Staples1.58
    Energy1.79
    Materials15.93
    Consumer Discretionary16.59

    Table of Contents


    Turkey Stance
         Turkey Valuations
         Turkey Top Stock Picks
         Turkey Top Bond Picks
         Turkey Last Month Performance Review

    South Africa Stance
         South Africa Valuations
         South Africa Top Stock Picks
         South Africa Top Bond Picks
         South Africa Last Month Performance Review

    Russia Stance
         Russia Valuations
         Russia Top Stock Picks
         Russia Top Bond Picks
         Russia Last Month Performance Review

    Korea Stance
         Korea Valuations
         Korea Top Stock Picks
         Korea Top Bond Picks
         Korea Last Month Performance Review

    India Stance
         India Valuations
         India Top Stock Picks
         India Top Bond Picks
         India Last Month Performance Review

    China Stance
         China Valuations
         China Top Stock Picks
         China Top Bond Picks
         China Last Month Performance Review

    Canada Stance
         Canada Valuations
         Canada Top Stock Picks
         Canada Top Bond Picks
         Canada Last Month Performance Review

    Brazil Stance
         Brazil Valuations
         Brazil Top Stock Picks
         Brazil Top Bond Picks
         Brazil Last Month Performance Review

    Australia Stance
         Australia Valuations
         Australia Top Stock Picks
         Australia Top Bond Picks
         Australia Last Month Performance Review


















    India



    Our Stance

    India has been delivering lackluster performance for some time now, unable to capitalize on it growth, given that market rallied couple of time in the past pricing biggest emerging markets growth. Investors are waiting for the growth to feed through the multiples, which is ongoing only slowly the lack of transparency reform.




    India Last Month Review

    India SENSEX:IND Index gained 0.35% last month. To finish the month at 26740.39

    MSCI India Index gained 1.77% last month. Its overall up 1.03% since the beginning of the year.

    At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

    INR last month lost -0.7% against US dollar. To finish the month at 67.685per USD.

    Corporate eurobonds are trading with average yield of 4.41% and tightened by -0.28% last month.

    While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

    Best stocks last month in India included Jaiprakash Associates Ltd (JPA:IN) +106.54%, Unitech Ltd (UT:IN) +77.69%, Bank of India (BOI:IN) +30.89%, Aditya Birla Nuvo Ltd (ABNL:IN) +20.74%, Jindal Steel & Power Ltd (JSP:IN) +19.23%, Canara Bank (CBK:IN) +19.03%, DLF Ltd (DLFU:IN) +18.41%, Bharat Heavy Electricals Ltd (BHEL:IN) +17.79%, Adani Enterprises Ltd (ADE:IN) +17.08%, Hindalco Industries Ltd (HNDL:IN) +16.81%, .

    Worst stocks last month included Infosys Ltd (INFO:IN) -6.41%, Tata Consultancy Services Ltd (TCS:IN) -4.78%, Kotak Mahindra Bank Ltd (KMB:IN) -4.03%, Asian Paints Ltd (APNT:IN) -3.69%, Apollo Hospitals Enterprise Ltd (APHS:IN) -1.84%, Tata Steel Ltd (TATA:IN) -1.73%, Hero MotoCorp Ltd (HMCL:IN) -1.40%, Bajaj Auto Ltd (BJAUT:IN) -1.31%, Divi's Laboratories Ltd (DIVI:IN) -0.43%, Idea Cellular Ltd (IDEA:IN) -0.43%,

    Best stocks YTD included Piramal Enterprises Ltd (PIEL:IN) +49.06%, Hindalco Industries Ltd (HNDL:IN) +42.80%, JSW Steel Ltd (JSTL:IN) +42.15%, Mahindra & Mahindra Financial Services Ltd (MMFS:IN) +41.24%, Shriram Transport Finance Co Ltd (SHTF:IN) +39.41%, DLF Ltd (DLFU:IN) +28.63%, Tata Steel Ltd (TATA:IN) +27.10%, Bharat Petroleum Corp Ltd (BPCL:IN) +24.26%, Aditya Birla Nuvo Ltd (ABNL:IN) +22.84%, Godrej Consumer Products Ltd (GCPL:IN) +21.75%,

    While worst stocks YTD included Reliance Communications Ltd (RCOM:IN) -43.51%, Wockhardt Ltd (WPL:IN) -41.53%, Idea Cellular Ltd (IDEA:IN) -27.90%, Cipla Ltd/India (CIPLA:IN) -24.14%, Jindal Steel & Power Ltd (JSP:IN) -24.02%, Adani Ports & Special Economic Zone Ltd (ADSEZ:IN) -21.02%, Bharat Heavy Electricals Ltd (BHEL:IN) -20.02%, United Breweries Ltd (UBBL:IN) -17.94%, Lupin Ltd (LPC:IN) -16.95%, Rural Electrification Corp Ltd (RECL:IN) -13.57%,

    In terms of sector performance last month

    the best sectors included Materials +18.31%, Financials +14.00%, Industrials +8.82%,

    While worst sector performance last month showed Technology -1.26%, Health Care 3.80%, Consumer Discretionary 4.51%,

    YTD the best sectors remain Consumer Discretionary +16.59%, Materials +15.93%, Energy +1.79%,

    While the worst sectors are Communications -7.71%, Health Care -5.09%, Industrials -3.84%,

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    Some Political news headlines for India include:

  • MOU with Foreign Countries
  • Being cosmopolitan in India
  • India, Mauritius sign MoU to promote cooperation in traditional ...
  • Govt committed to use TRIPS to protect domestic pharma: Nirmala ...
  • South Transmission Capacity Hits New Peak at 5.9K-MW
  • WCD Minister, Smt Maneka Sanjay Gandhi congratulates Prime ...
  • Can't blame Fadnavis government for water woes, will expose ...

    While some economic events and news headlines include:

    2016-06-01--India Nikkei Manufacturing PMI MAY

  • India manufacturing PMI up to 51.7 in June
  • Nikkei India Services PMI eases June 2016

    2016-06-01--India Current Account Q1

  • India within whisker of trade surplus in Q1 but Brexit risk, oil prices ...
  • Oilmeal exports decline 61% in Q1 on price disparity

    2016-06-02--India Infrastructure Output YoY APR

  • For king, then country
  • An unplanned presidency

    2016-06-03--India Nikkei Services PMI MAY

  • Nikkei India Services PMI eases June 2016
  • India's June services PMI logs 2nd slowest growth in a year

    2016-06-03--India Foreign Reserves 27/MAY

  • Form FWP SPDR GOLD TRUST Filed by: SPDR GOLD TRUST
  • Second Bi-monthly Monetary Policy Statement, 2016-17 by ...

    2016-06-06--India Current Account Q1

  • India within whisker of trade surplus in Q1 but Brexit risk, oil prices ...
  • Oilmeal exports decline 61% in Q1 on price disparity

    2016-06-07--India Cash Reserve Ratio

  • Cash reserve ratio has lost its relevance
  • RBI keeps repo rate unchanged at 6.50%, CRR at 4%

    2016-06-07--India RBI Interest Rate Decision

  • India Seeks More Reserved Central Bank
  • Are markets getting hopeful RBI will cut interest rates?

    2016-06-10--India Foreign Reserves 3/JUN

  • Forex reserves continue to slide, fall to $360.2 billion
  • Opec fails to reach agreement on oil production levels

    2016-06-10--India Deposit Growth YoY 29/MAY

  • Lower valuations, strong order book make Skipper analysts' favourite
  • AirAsia X yields skyrocket as Malaysian competition rationalises and ...

    2016-06-10--India Bank Loan Growth 29/MAY

  • HSBC Private Bank appeals against record HK$605 million fine by ...
  • Bye-bye generous dividends? HSBC profit down 18pc to US$5.4b

    2016-06-10--India Industrial Production YoY APR

  • Surimi outlook: Dropping Hokkaido output could see prices above ...
  • British industry smashed expectations in April - but don't expect it to ...

    2016-06-10--India Manufacturing Production YoY APR

  • Today's Market View Including: Bluerock Diamonds, BHP Billton ...
  • Today's Market View Including: Kenmare Resources, Gryphon ...

    2016-06-15--India Balance of Trade MAY

  • US Ran $29016900000 Merchandise Trade Deficit With China in May
  • PM Narendra Modi on four-nation tour

    2016-06-17--India Foreign Reserves 10/JUN

  • How Yemen's wartime central bank keeps country afloat
  • Bank NPA: PSBs need Rs 1.2 lakh cr capital infusion

    2016-06-13--India Inflation Rate YoY MAY

  • Earnings to grow at 15% for 3-4 quarters: Robert Parker, Credit Suisse
  • Market Currents: Saudi maintains strong oil exports to US, Asia

    2016-06-14--India WPI Manufacturing YoY MAY

  • Our demographic dividend could become a nightmare if we don't ...
  • Pay panel award to boost consumption, raise savings: India Ratings ...

    2016-06-14--India WPI Fuel YoY MAY

  • Our demographic dividend could become a nightmare if we don't ...
  • Raghuram Rajan's exit may fuel middle class anger against Modi govt

    2016-06-14--India WPI Food YoY MAY

  • Wholesale inflation up for 2nd month; rises to 0.79% in May
  • 10 things you need to know today

    2016-06-14--India WPI Inflation YoY MAY

  • 10 things you need to know today
  • Debate on Rajan's reappointment is welcome as long as it is on ...

    2016-06-24--India Foreign Reserves 17/JUN

  • CAD narrows to 0.1 pc of GDP in Jan-Mar
  • What did Hong Kong do to become so uncool?

    2016-06-24--India Deposit Growth YoY 10/JUN

  • RBI to stay on hold until 2016-end, says Nomura

    2016-06-24--India Bank Loan Growth 10/JUN

  • SBI, Spain's CaixaBank ink pact to fund Indo-Spanish JVs, local ...
  • Twelve stocks in focus in Friday morning trade

    2016-07-08--India Foreign Reserves 1/JUL

  • Oil hits 2016 high on US draw forecasts, Nigeria woes
  • China's forex reserves rise for second month in a row in April to US ...

    2016-07-08--India Deposit Growth YoY 24/JUN

  • Union Bank of India (Q4 FY16): Asset quality pressures aggravate
  • Financial Reforms - Past and Present: Raghuram Rajan

    2016-07-08--India Bank Loan Growth 24/JUN

  • need2know: Rajan factor & other macro triggers that may move ...
  • Banks to sit tight on loans as jewellers face fall in earnings

    2016-07-05--India Nikkei Services PMI JUN

  • Nikkei India Services PMI eases June 2016
  • India's June services PMI logs 2nd slowest growth in a year

    2016-07-06--India End of Ramadan

  • Celebrating Ramadan in India
  • When is Eid al-Fitr 2016? Dates, wishes, significance of Muslim's ...

  • US raises an eyebrow over India's 7.5% economic growth
  • Kim Jong-Un Getting Fatter At Astronomical Rate, Terrified Of ...

  • India Headlines: GDP Growth of 7.8%, Foreign Investment Peaking?
  • India's Economic Picture Brighter, but Investment, Structural Reforms ...

  • India's Careful Plan for Growth
  • Kerala to become 'zero population growth' state

  • India holds up Scotch whisky's declining exports
  • Stronger rupee hurting India's exports

  • FM presents revenue surplus Rs 32310 crore budget
  • Column: Looking at the Budget

  • As bad debt bites, Indian banks call for US-type bankruptcy law

    Companies Reported last month include:

    (C) Sun Pharmaceutical Industries Ltd

    health

  • We are not a generics player: Arun Kumar
  • Term Sheet -- Tuesday, July 5

    (P) Sun Pharmaceutical Industries Ltd

    health

  • On radar: Sun Pharma to discuss buy back
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    industr

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    (P) Tata Motors Ltd

    industr

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    Valuations




    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    JSW Steel LtdJSTL:INIndia Steel Producers0.51%-0.870.00-0.0065.3152.35
    Piramal Enterprises LtdPIEL:INIndia Specialty Pharma1.13%27.994.0614.5131.6361.6066.78
    Reliance Infrastructure LtdRELI:INIndia Utility Networks1.50%7.550.9011.9211.3340.2943.03
    Aditya Birla Nuvo LtdABNL:INIndia Telecom Carriers0.39%8.790.738.303.4339.8029.79
    DLF LtdDLFU:INIndia Real Estate Owners & Developers1.28%50.883.035.9665.1334.5841.82
    Shriram Transport Finance Co LtdSHTF:INIndia Consumer Finance0.81%23.592.6711.3219.1128.8922.76
    Bharat Petroleum Corp LtdBPCL:INIndia Refining & Marketing1.37%9.900.424.2413.5623.4318.37
    Hero MotoCorp LtdHMCL:INIndia Automobiles1.03%20.082.2211.0620.6822.4021.10
    Zee Entertainment Enterprises LtdZ:INIndia Entertainment Content0.49%50.387.3714.6324.6921.51-2.51
    Divi's Laboratories LtdDIVI:INIndia Specialty Pharma0.88%27.208.0029.4123.9420.1833.37
    Asian Paints LtdAPNT:INIndia Specialty Chemicals0.76%54.736.2111.3541.5920.135.38
    Hindalco Industries LtdHNDL:INIndia Base Metals0.78%62.990.270.4349.1319.86-6.53
    Infosys LtdINFO:INIndia IT Services2.09%19.664.2521.6241.0919.7749.86
    Mahindra & Mahindra Financial Services LtdMMFS:INIndia Automobiles1.13%25.883.0211.6729.2419.1321.20
    Reliance Power LtdRPWR:INIndia Power Generation1.87%11.001.4012.7320.5718.2227.56
    Power Grid Corp of India LtdPWGR:INIndia Utility Networks1.43%14.023.9828.3920.0517.5539.01
    ITC LtdITC:INIndia Tobacco1.77%29.737.5325.3352.6217.1052.36
    Tata Steel LtdTATA:INIndia Steel Producers2.40%-0.280.00-0.0014.271.31
    NTPC LtdNTPC:INIndia Power Generation2.23%12.361.5912.8627.5614.2229.32
    Reliance Capital LtdRCAPT:INIndia P&C Insurance2.44%9.421.0511.1522.9814.1025.85
    Titan Co LtdTTAN:INIndia Apparel, Footwear & Acc Design0.55%51.783.196.1628.4811.96-18.14
    LIC Housing Finance LtdLICHF:INIndia Mortgage Finance1.10%15.092.0213.3916.6011.2613.19
    Mahindra & Mahindra LtdMM:INIndia Automobiles0.82%38.651.243.2131.6911.25-5.46
    HDFC Bank LtdHDFCB:INIndia Banks0.81%22.923.9517.2318.577.917.83
    UltraTech Cement LtdUTCEM:INIndia Cement & Aggregates0.28%40.443.699.1211.327.57-25.38
    Dabur India LtdDABUR:INIndia Household Products0.73%43.206.4414.9131.547.37-2.35
    Tata Motors LtdTTMT:INIndia Automobiles0.04%14.130.574.030.576.62-15.87
    ACC LtdACC:INIndia Cement & Aggregates1.07%50.782.615.1454.336.462.19
    Ambuja Cements LtdACEM:INIndia Cement & Aggregates1.10%48.854.248.6853.745.416.01
    Apollo Hospitals Enterprise LtdAPHS:INIndia Health Care Facilities0.45%56.553.095.4625.454.52-34.07
    Bank of BarodaBOB:INIndia Banks--0.710.000.004.39-8.57
    Bajaj Auto LtdBJAUT:INIndia Automobiles0.19%19.923.3917.023.784.03-8.05
    Kotak Mahindra Bank LtdKMB:INIndia Banks0.07%39.154.8612.412.743.59-33.37
    GAIL India LtdGAIL:INIndia Utility Networks1.42%21.780.904.1330.932.763.08
    Reliance Industries LtdRIL:INIndia Refining & Marketing1.06%10.591.0610.0111.23-0.05-2.36
    Ranbaxy Laboratories LtdRBXY:INIndia Generic Pharma--3.430.000.00-0.06-13.02
    GlaxoSmithKline Consumer Healthcare LtdSKB:INIndia Packaged Food1.13%37.886.3616.7942.80-0.298.46
    Hindustan Unilever LtdHUVR:INIndia Household Products1.78%47.645.8812.3484.80-0.5236.02
    Jaiprakash Associates LtdJPA:INIndia Cement & Aggregates--0.160.000.00-2.05-15.01
    Housing Development Finance Corp LtdHDFC:INIndia Mortgage Finance2.22%19.533.7719.3043.36-3.5026.67
    Tata Consultancy Services LtdTCS:INIndia IT Services1.76%19.964.4622.3435.13-3.9720.58
    Dr Reddy's Laboratories LtdDRRD:INIndia Generic Pharma0.58%29.413.8513.0917.06-5.72-17.95
    Adani Enterprises LtdADE:INIndia Coal Operations0.47%8.930.212.354.20-5.78-21.12
    Jindal Steel & Power LtdJSP:INIndia Steel Producers--0.380.000.00-9.75-22.71
    Siemens LtdSIEM:INIndia Electrical Power Equipment0.47%1,286.354.3799.990.47-10.46413.05
    Unitech LtdUT:INIndia Real Estate Owners & Developers--0.930.000.00-10.66-23.62
    Sun Pharmaceutical Industries LtdSUNP:INIndia Generic Pharma0.13%39.906.7616.945.19-11.00-41.73
    Oil India LtdOINL:INIndia Exploration & Production4.28%11.232.3821.1948.06-11.9833.08
    Larsen & Toubro LtdLT:INIndia Infrastructure Construction1.16%28.821.445.0033.43-12.12-15.47
    Cairn India LtdCAIR:INIndia Exploration & Production2.00%-3.260.00-0.00-13.77-26.74
    State Bank of IndiaSBIN:INIndia Banks1.16%15.070.624.1117.48-16.05-22.48
    Reliance Communications LtdRCOM:INIndia Telecom Carriers-19.050.613.20-0.00-16.57-45.38
    Coal India LtdCOAL:INIndia Coal Operations8.51%14.252.7018.95121.27-16.6596.35
    Lupin LtdLPC:INIndia Generic Pharma0.48%30.885.1116.5514.82-17.14-29.61
    ICICI Bank LtdICICIBC:INIndia Banks2.03%14.071.4110.0228.56-18.57-7.02
    Canara BankCBK:INIndia Banks--0.250.000.00-19.23-32.19
    HCL Technologies LtdHCLT:INIndia IT Services0.83%13.432.4318.0911.15-19.58-16.73
    Cipla Ltd/IndiaCIPLA:INIndia Generic Pharma0.39%27.033.0711.3610.54-19.58-37.67
    United Breweries LtdUBBL:INIndia Beverages0.15%70.444.596.5210.57-20.61-86.93
    Oil & Natural Gas Corp LtdONGC:INIndia Exploration & Production3.70%13.921.5210.9251.50-21.7913.75
    United Spirits LtdUNSP:INIndia Beverages-40.404.1910.37-0.00-22.60-65.59
    Rural Electrification Corp LtdRECL:INIndia Commercial Finance9.12%3.250.7723.6929.64-26.8510.27
    Wockhardt LtdWPL:INIndia Generic Pharma-32.422.377.31-0.00-34.03-72.10
    Adani Ports & Special Economic Zone LtdADSEZ:INIndia Transport Support Services0.51%15.496.2740.487.90-34.27-14.34
    Bank of IndiaBOI:INIndia Banks--0.180.000.00-35.86-48.82
    Idea Cellular LtdIDEA:INIndia Telecom Carriers0.57%12.321.068.607.02-38.98-48.63
    Bharat Heavy Electricals LtdBHEL:INIndia Electrical Power Equipment0.73%-1.320.00-0.00-43.25-56.21
    Wipro LtdWPRO:INIndia IT Services1.06%15.612.6817.1716.552.827.96
    Godrej Consumer Products LtdGCPL:INMumbai, 400079 India Household Products0.35%50.566.1712.2017.7032.29-1.33
    Bharti Airtel LtdBHARTI:INNew Delhi, 110 070 India Telecom Carriers0.37%26.931.535.689.96-13.22-37.46

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications10.3794505.843.33.218.213.6-0.7
    Consumer Discretionary6.6509681.027.02.016.49.63.1
    Consumer Staples7.5584775.338.01.828.210.312.3
    Energy12.6973390.440.84.412.49.7-21.0
    Financials32.82543065.726.04.08.820.43.2
    Health Care2.3178295.820.31.031.717.013.6
    Industrials5.8453138.223.41.818.611.422.9
    Materials7.6590209.427.53.118.19.8-0.1
    Technology10.8833615.629.22.318.919.82.8
    Utilities3.7288099.032.23.112.413.4-5.6

    Top 5 India Index Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Siemens LtdSIEM:INIndia Electrical Power Equipment0.47%1,286.354.3799.990.47-10.46413.05
    Coal India LtdCOAL:INIndia Coal Operations8.51%14.252.7018.95121.27-16.6596.35
    Piramal Enterprises LtdPIEL:INIndia Specialty Pharma1.13%27.994.0614.5131.6361.6066.78
    ITC LtdITC:INIndia Tobacco1.77%29.737.5325.3352.6217.1052.36
    JSW Steel LtdJSTL:INIndia Steel Producers0.51%-0.870.00-0.0065.3152.35

    Top 5 India Index Short Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    United Breweries LtdUBBL:INIndia Beverages0.15%70.444.596.5210.57-20.61-86.93
    Wockhardt LtdWPL:INIndia Generic Pharma-32.422.377.31-0.00-34.03-72.10
    United Spirits LtdUNSP:INIndia Beverages-40.404.1910.37-0.00-22.60-65.59
    Bharat Heavy Electricals LtdBHEL:INIndia Electrical Power Equipment0.73%-1.320.00-0.00-43.25-56.21
    Bank of IndiaBOI:INIndia Banks--0.180.000.00-35.86-48.82
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    Weekly Fund flow into India focused funds showed (Previous Week)-243.5 USD mn of outflow.


    Top 10 India Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    INDIA FUND INC/THE (IFN)287.6759.7
    MORGAN STANLEY INDIA INVESTMENT FUND INC (IIF)227.3446.5
    ISHARES MSCI INDIA ETF (INDA)39.63591.0
    RELIANCE FIXED HORIZON FUND - XXIV - SERIES 3 (RL243RD)20.635.7
    LYXOR ETF MSCI INDIA (INDI)12.21288.9
    GOLDMAN SACHS INDIA EQUITY PORTFOLIO - R USD ACC (GSIERUA)8.71684.0
    RELIANCE GOLD SAVINGS FUND - DIVIDEND (RELGSVD)5.7149.3
    DSP BLACKROCK WORLD GOLD FUND - GROWTH (DSPWGOG)3.745.2
    HSBC FONDO GLOBAL 1 SA DE CV SIRV (HSBRICA)3.5376.2
    HSBC GLOBAL INVESTMENT FUNDS - BRIC EQUITY - A (HSBRICA)3.5376.2

    Top 10 India Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    VANGUARD FTSE EMERGING MARKETS ETF (VWO)-2920.535009.0
    ABERDEEN GLOBAL - INDIAN EQUITY FUND - R 2 ACC (AGINR2A)-200.35272.7
    WISDOMTREE INDIA EARNINGS FUND (EPI)-186.01369.0
    ABERDEEN GLOBAL - INDIAN EQUITY FUND - A2 (AGINDA2)-117.83616.0
    FRANKLIN TEMPLETON INVESTMENT FUNDS - FRANKLIN INDIA FUND - N(ACC) USD (FRAINNA)-99.53065.0
    INDIA FUND INC/THE (XIFNX)-76.5759.7
    VONTOBEL INDIA FUND - CLASS 1 (VOINDIA)-37.11206.0
    FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON BRIC FUND - A(ACC) EUR H1 (TEMACEH)-28.3779.1
    ISHARES INDIA 50 ETF (INDY)-27.5705.9
    SCHRODER INTERNATIONAL SELECTION FUND - BRIC - A ACC SFR (SCHRBAC)-22.6839.7



    Bond Picks

    Corporate Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    RELIANCE HOLDINGS USA INC RegS 22111.95.40USDFeb 14, 20224.853.06-0.281.30
  • Form NSAR-A FRANKLIN VALUE INVESTORS For: Apr 30
    • BHARTI AIRTEL INTERNATIONAL NETHER RegS 23108.05.13USDMar 11, 20235.673.75-0.130.70
  • Airtel to sell mobile towers in Congo to Helios Towers Africa
    • ONGC VIDESH LTD RegS 24106.74.63USDJul 15, 20246.663.65-0.282.00
  • ONGC Videsh completes $1.3 billion stake acquisition in Russian field
    • EXPORT-IMPORT BANK OF INDIA MTN RegS 23104.94.00USDJan 14, 20235.713.15-0.181.00
  • Masala bonds to spice up Indian SOE fundraising
    • STATE BANK OF INDIA/LONDON RegS 19103.93.62USDApr 17, 20192.662.17-0.080.10
  • Emami ropes in Sania Mirza as brand ambassador of Kesh King

    • View India Econ Page






    • China Performance Snapshot

    Index 1 month Ch%YTD Ch%1 year Ch%
    SHCOMP:IND 0.48-17.38-26.88
    MSCI China -0.56-6.48-25.31
    MSCI GEM 3.945.68-13.68
    MSCI BRIC 2.873.09-18.47
    MSCI World -0.370.43-5.30

    Indexes YTD performance %

    MSCI IndexYTDChange
    PERU48.6
    BRAZIL44.6
    BRAZIL ADR43.8
    EM LATIN AMERICA24.9
    EFM LATIN AMERICA & CARIBBEAN INDEX24.6
    COLOMBIA24.1
    ANDEAN22.2
    RUSSIA ADR/GDR21.1
    EM LATIN AMERICA WITH BRAZIL ADR20.1
    RUSSIA19.7
    THAILAND17.9
    NEW ZEALAND16.9
    EM ex ASIA16.4
    SOUTH AFRICA15.1
    CANADA14.5
    CHILE14.2
    INDONESIA13.7
    PHILIPPINES12.8
    EFM AFRICA12.0
    EMERGING + FRONTIER MARKETS WORKFORCE11.8
    EM EASTERN EUROPE11.5
    TURKEY10.5
    EM EMEA10.2
    SOUTH EAST ASIA9.0
    HUNGARY8.9
    EM EUROPE8.6
    TAIWAN8.5
    EFM EUROPE + CIS (E+C)8.3
    EFM EMEA8.3
    EM LATIN AMERICA ex BRAZIL7.9
    EMERGING MARKETS HORIZON7.0
    EM EUROPE & MIDDLE EAST6.7
    EM 506.2
    EM (EMERGING MARKETS)5.7
    EFM (EMERGING + FRONTIER MARKETS)5.5
    MALAYSIA5.4
    EM WITH BRAZIL + INDIA + RUSSIA DR5.2
    KOREA5.2
    EM WITH BRAZIL ADR4.8
    UNITED ARAB EMIRATES4.8
    NORWAY3.9
    SINGAPORE3.8
    INDIA DOMESTIC3.3
    NORTH AMERICA3.2
    BRIC3.1
    USA2.7
    EM FAR EAST1.7
    MEXICO1.7
    EM ASIA1.6
    EFM ASIA1.6
    ASIA APEX 501.4
    UNITED ARAB EMIRATES DOMESTIC1.2
    BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
    INDIA1.0
    BRIC WITH BRAZIL ADR0.9
    AUSTRALIA0.9
    PACIFIC ex JAPAN0.7
    JORDAN + EGYPT + MOROCCO0.6
    World0.4
    KOKUSAI INDEX (WORLD ex JP)0.4
    G7 INDEX0.4
    WORLD WITH USA GROSS-0.2
    BELGIUM-0.7
    DENMARK-1.2
    PORTUGAL-1.4
    HONG KONG-1.7
    EFM EUROPE + CIS (E+C) ex RU-1.8
    NETHERLANDS-3.1
    EM (EMERGING MARKETS)+CHINA A-3.5
    PACIFIC-3.8
    EAFE + CANADA-4.1
    EFM CEEC ex RU-4.1
    NORDIC COUNTRIES-4.4
    EM EASTERN EUROPE ex RUSSIA-4.5
    CZECH REPUBLIC-4.8
    EUROPE ex EMU-4.9
    CHINA 50-4.9
    QATAR-5.0
    FAR EAST-5.1
    UNITED KINGDOM-5.1
    SWITZERLAND-5.1
    FRANCE-5.2
    EASEA INDEX (EAFE ex JAPAN)-5.5
    EAFE ex ISRAEL-5.5
    EAFE-5.6
    EAFE ex UK-5.7
    JAPAN-6.0
    NIHONKABU-6.2
    PAN-EURO-6.3
    EUROPE-6.4
    CHINA-6.5
    EUROPE & MIDDLE EAST-6.5
    EGYPT-6.5
    SWEDEN-6.6
    EUROPE ex SWITZERLAND-6.7
    EU-6.8
    EUROPE ex UK-7.0
    POLAND-7.3
    QATAR DOMESTIC-7.8
    EMU ex GERMANY-7.9
    EMU-8.2
    EURO-8.5
    FINLAND-8.7
    GERMANY-8.9
    EFM AFRICA ex ZA-10.1
    AUSTRIA-11.5
    SPAIN-11.5
    CHINA A 50-12.9
    IRELAND-13.4
    ISRAEL-14.2
    ITALY-22.4
    GREECE-25.8

    Indexes 1m performance %

    IndexLastChnge
    Jakarta Stock Exchange Composite Index5016.1094.39
    Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
    Karachi Stock Exchange KSE100 Index37786.573.87
    FTSE 100 Index6360.061.19
    Shanghai Stock Exchange Composite Index2930.5490.48
    S&P BSE SENSEX Index26740.390.35
    Russian Trading System Cash Index930.150.16
    Hong Kong Hang Seng Index20791.68-0.28
    S&P/TSX Composite Index14036.74-0.35
    Korea Stock Exchange KOSPI Index1966.52-0.85
    Dow Jones Industrial Average17694.68-1.00
    Russian Depositary Index USD1069.58-1.15
    Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
    S&P 500 Index2070.77-1.35
    MICEX Index1888.15-2.62
    Borsa Istanbul 100 Index76711.97-2.87
    Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
    FTSE/JSE Africa All Share Index51890.42-4.74
    Deutsche Boerse AG German Stock Index DAX9612.27-7.18
    Nikkei 22515694.81-8.94

    Currencies 1m performance %

    TickerLastChnge
    USDNGN:CUR282.541.92
    USDGEL:CUR2.3559.92
    USDGBP:CUR0.74599.18
    USDARS:CUR14.9687.27
    USDTND:CUR2.21975.51
    USDAZN:CUR1.54794.24
    USDCRC:CUR546.632.08
    USDSEK:CUR8.46931.59
    USDKZT:CUR338.991.01
    USDHUF:CUR285.181.00
    USDCNH:CUR6.65470.97
    USDCNY:CUR 6.64330.88
    USDINR:CUR 67.6850.70
    USDRON:CUR4.07620.70
    USDPLN:CUR3.97860.60
    USDHRK:CUR6.76770.60
    USDEGP:CUR8.87960.55
    USDPHP:CUR46.9930.47
    USDCZK:CUR24.40320.47
    USDRSD:CUR110.98810.34
    USDNOK:CUR 8.39660.32
    USDKES:CUR101.250.32
    USDTTD:CUR6.65150.30
    USDMXN:CUR18.52910.30
    USDMAD:CUR9.79210.22
    USDBAM:CUR1.76060.20
    USDDKK:CUR6.69580.17
    USDLBP:CUR1513.750.15
    USDBGN:CUR1.76060.15
    USDLTL:CUR3.10820.14
    USDNLG:CUR1.98380.14
    USDEUR:CUR 0.90020.13
    USDLVL:CUR0.63260.13
    USDBHD:CUR0.377320.08
    USDQAR:CUR3.64130.03
    USDSAR:CUR3.75060.01
    USDOMR:CUR0.3850.00
    USDAED:CUR3.67290.00
    USDVEF:CUR9.98750.00
    USDPAB:CUR10.00
    USDBSD:CUR10.00
    USDBBD:CUR20.00
    USDBDT:CUR78.35-0.04
    USDHKD:CUR7.7586-0.12
    USDJOD:CUR0.7082-0.16
    USDPKR:CUR104.68-0.17
    USDKWD:CUR0.30185-0.17
    USDVND:CUR22300-0.42
    USDMDL:CUR19.82-0.43
    USDCAD:CUR 1.2946-0.80
    USDTWD:CUR32.275-1.03
    USDUAH:CUR24.8864-1.15
    USDCHF:CUR0.9799-1.30
    USDLKR:CUR146.25-1.32
    USDISK:CUR123.5-1.32
    USDTHB:CUR35.207-1.48
    USDTRL:CUR 2894310-2.04
    USDTRY:CUR2.8943-2.04
    USDPEN:CUR3.2887-2.30
    USDSGD:CUR1.3491-2.33
    USDMYR:CUR4.02-2.70
    USDAUD:CUR 1.3433-2.86
    USDIDR:CUR13179-3.24
    USDRUB:CUR 63.8022-3.28
    USDKRW:CUR 1152.54-3.30
    USDCLP:CUR661.95-4.15
    USDCOP:CUR2915.6-5.00
    USDNZD:CUR1.4091-5.37
    USDZAR:CUR 14.8227-6.12
    USDJPY:CUR 102.77-7.59
    USDBRL:CUR 3.2206-9.78

    Bond rates 1m performance %

    countryyield1wk1d1m1y
    GREECE 7.97%0.94 -41 +91 -663
    PORTUGAL 3.05%0.05 -6 +4 +1
    ITALY 1.37%0.01 -3 +2 -102
    INDIA 7.44%-0.02 -1 -3 -45
    JAPAN » -0.23%-0.11 +1 -12 --
    MEXICO 5.88%-0.22 -7 -20 -17
    SPAIN 1.25%-0.22 -6 -23 -109
    CANADA 1.12%-0.23 +5 -22 -62
    NEW ZEALAND 2.33%-0.26 +4 -22 --
    SWITZERLAND -0.62%-0.27 -2 -25 -67
    NETHERLANDS 0.10%-0.28 -2 -24 -96
    AUSTRALIA » 2.00%-0.29 +2 -25 --
    GERMANY » -0.13%-0.30 -1 -26 -92
    FRANCE 0.21%-0.30 -3 -25 -102
    HONG KONG 0.93%-0.30 +0 -- --
    SINGAPORE 1.92%-0.30 +6 -- --
    SOUTH KOREA 1.46%-0.34 -1 -32 --
    UNITED STATES » 1.51%-0.36 +5 -34 -81
    UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
    BRAZIL 12.12%-0.75 +10 -91 -53

    Commodities 1m performance %

    nameunitsPriceChng
    NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
    SugarUSD/LB.21.0119.92
    CoffeeUSD/LB.144.4519.08
    SilverUSD/T OZ.18.3313.92
    PalladiumUSD/T OZ.592.368.72
    GOLDUSD/T OZ.1316.158.62
    Copper$/t4838.003.05
    PlatinumUSD/T OZ.1004.332.78
    HogsUSD/LB.83.332.78
    COCOAUSD/MT3034.000.97
    OIL BrentUSD/BBL.49.990.73
    RiceUSD/CWT10.930.28
    CattleUSD/LB.114.13-1.98

    Best Stocks 1m in USD %ch

    NameChngePctCountry
    Zhaojin Mining Industry Co Ltd (1818:HK)40.03China
    Zijin Mining Group Co Ltd (2899:HK)30.02China
    Yanzhou Coal Mining Co Ltd (1171:HK)15.29China
    China Coal Energy Co Ltd (1898:HK)12.79China
    Agile Property Holdings Ltd (3383:HK)11.03China
    China Shenhua Energy Co Ltd (1088:HK)10.23China
    Jiangxi Copper Co Ltd (358:HK)9.79China
    Aluminum Corp of China Ltd (2600:HK)9.39China
    China Merchants Bank Co Ltd (3968:HK)7.16China
    Industrial & Commercial Bank of China Ltd (1398:HK)6.47China

    Worst Stocks 1m in USD %

    NameChngePctCountry
    PICC Property & Casualty Co Ltd (2328:HK)-17.06China
    China BlueChemical Ltd (3983:HK)-12.15China
    Weichai Power Co Ltd (2338:HK)-11.35China
    Intime Retail Group Co Ltd (1833:HK)-9.49China
    Fosun International Ltd (656:HK)-8.20China
    Dongfeng Motor Group Co Ltd (489:HK)-7.25China
    People's Insurance Co Group of China Ltd/The (1339:HK)-7.03China
    ANTA Sports Products Ltd (2020:HK)-6.93China
    Tsingtao Brewery Co Ltd (168:HK)-6.93China
    Want Want China Holdings Ltd (151:HK)-6.92China

    Best Stocks YTD in USD %

    NameChngePctCountry
    Zhaojin Mining Industry Co Ltd (1818:HK)119.05China
    Zijin Mining Group Co Ltd (2899:HK)46.13China
    Yanzhou Coal Mining Co Ltd (1171:HK)44.13China
    China Coal Energy Co Ltd (1898:HK)40.07China
    China Communications Services Corp Ltd (552:HK)39.38China
    Guangzhou Automobile Group Co Ltd (2238:HK)36.99China
    Sinopec Shanghai Petrochemical Co Ltd (338:HK)25.86China
    China Shenhua Energy Co Ltd (1088:HK)22.26China
    Sinopharm Group Co Ltd (1099:HK)21.37China
    CNOOC Ltd (883:HK)21.19China

    Worst Stocks YTD in USD %

    NameChngePctCountry
    Sihuan Pharmaceutical Holdings Group Ltd (460:HK)-61.98China
    ZTE Corp (763:HK)-42.59China
    Lenovo Group Ltd (992:HK)-38.13China
    Tingyi Cayman Islands Holding Corp (322:HK)-32.92China
    Sino-Ocean Group Holding Ltd (3377:HK)-29.62
    China Life Insurance Co Ltd (2628:HK)-29.15China
    ANTA Sports Products Ltd (2020:HK)-28.23China
    Parkson Retail Group Ltd (3368:HK)-26.78China
    Greentown China Holdings Ltd (3900:HK)-26.27Hangzhou China
    China BlueChemical Ltd (3983:HK)-26.25China

    Sector Performance 1m in USD %

    sectorChngePct
    Communications-4.85
    Consumer Staples-1.94
    Consumer Discretionary-1.70
    Industrials-1.45
    Technology-0.95
    Utilities-0.08
    Financials1.48
    Health Care1.51
    Energy4.96
    Materials5.77

    Sector Performance YTD in USD %

    sectorChngePct
    Technology-21.20
    Health Care-13.35
    Consumer Discretionary-8.98
    Consumer Staples-8.13
    Financials-6.35
    Utilities-5.21
    Industrials-4.98
    Communications0.45
    Materials13.68
    Energy20.15

    Table of Contents


    Turkey Stance
         Turkey Valuations
         Turkey Top Stock Picks
         Turkey Top Bond Picks
         Turkey Last Month Performance Review

    South Africa Stance
         South Africa Valuations
         South Africa Top Stock Picks
         South Africa Top Bond Picks
         South Africa Last Month Performance Review

    Russia Stance
         Russia Valuations
         Russia Top Stock Picks
         Russia Top Bond Picks
         Russia Last Month Performance Review

    Korea Stance
         Korea Valuations
         Korea Top Stock Picks
         Korea Top Bond Picks
         Korea Last Month Performance Review

    India Stance
         India Valuations
         India Top Stock Picks
         India Top Bond Picks
         India Last Month Performance Review

    China Stance
         China Valuations
         China Top Stock Picks
         China Top Bond Picks
         China Last Month Performance Review

    Canada Stance
         Canada Valuations
         Canada Top Stock Picks
         Canada Top Bond Picks
         Canada Last Month Performance Review

    Brazil Stance
         Brazil Valuations
         Brazil Top Stock Picks
         Brazil Top Bond Picks
         Brazil Last Month Performance Review

    Australia Stance
         Australia Valuations
         Australia Top Stock Picks
         Australia Top Bond Picks
         Australia Last Month Performance Review


















    China



    Our Stance

    China has been a laggard market this year. Yet the commodities and mining stocks have been a winning sector. We expect that some devaluation will further add a driver for China markets and for emerging markets overall.




    China Last Month Review

    China SHCOMP:IND Index gained 0.48% last month. To finish the month at 2930.549

    MSCI China Index lost-0.56% last month. Its overall down -6.48% since the beginning of the year.

    At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

    CNY last month lost -0.88% against US dollar. To finish the month at 6.6433per USD.

    Sovereign eurobonds are trading with average yield of 2.68% and tightened by -0.27% last month.

    Corporate eurobonds are trading with average yield of 3.50% and tightened by -0.22% last month.

    While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

    Best stocks last month in China included Zhaojin Mining Industry Co Ltd (1818:HK) +40.03%, Zijin Mining Group Co Ltd (2899:HK) +30.02%, Yanzhou Coal Mining Co Ltd (1171:HK) +15.29%, China Coal Energy Co Ltd (1898:HK) +12.79%, Agile Property Holdings Ltd (3383:HK) +11.03%, China Shenhua Energy Co Ltd (1088:HK) +10.23%, Jiangxi Copper Co Ltd (358:HK) +9.79%, Aluminum Corp of China Ltd (2600:HK) +9.39%, China Merchants Bank Co Ltd (3968:HK) +7.16%, Industrial & Commercial Bank of China Ltd (1398:HK) +6.47%, .

    Worst stocks last month included PICC Property & Casualty Co Ltd (2328:HK) -17.06%, China BlueChemical Ltd (3983:HK) -12.15%, Weichai Power Co Ltd (2338:HK) -11.35%, Intime Retail Group Co Ltd (1833:HK) -9.49%, Fosun International Ltd (656:HK) -8.20%, Dongfeng Motor Group Co Ltd (489:HK) -7.25%, People's Insurance Co Group of China Ltd/The (1339:HK) -7.03%, ANTA Sports Products Ltd (2020:HK) -6.93%, Tsingtao Brewery Co Ltd (168:HK) -6.93%, Want Want China Holdings Ltd (151:HK) -6.92%,

    Best stocks YTD included Zhaojin Mining Industry Co Ltd (1818:HK) +119.05%, Zijin Mining Group Co Ltd (2899:HK) +46.13%, Yanzhou Coal Mining Co Ltd (1171:HK) +44.13%, China Coal Energy Co Ltd (1898:HK) +40.07%, China Communications Services Corp Ltd (552:HK) +39.38%, Guangzhou Automobile Group Co Ltd (2238:HK) +36.99%, Sinopec Shanghai Petrochemical Co Ltd (338:HK) +25.86%, China Shenhua Energy Co Ltd (1088:HK) +22.26%, Sinopharm Group Co Ltd (1099:HK) +21.37%, CNOOC Ltd (883:HK) +21.19%,

    While worst stocks YTD included Sihuan Pharmaceutical Holdings Group Ltd (460:HK) -61.98%, ZTE Corp (763:HK) -42.59%, Lenovo Group Ltd (992:HK) -38.13%, Tingyi Cayman Islands Holding Corp (322:HK) -32.92%, Sino-Ocean Group Holding Ltd (3377:HK) -29.62%, China Life Insurance Co Ltd (2628:HK) -29.15%, ANTA Sports Products Ltd (2020:HK) -28.23%, Parkson Retail Group Ltd (3368:HK) -26.78%, Greentown China Holdings Ltd (3900:HK) -26.27%, China BlueChemical Ltd (3983:HK) -26.25%,

    In terms of sector performance last month

    the best sectors included Materials +5.77%, Energy +4.96%, Health Care +1.51%,

    While worst sector performance last month showed Communications -4.85%, Consumer Staples -1.94%, Consumer Discretionary -1.70%,

    YTD the best sectors remain Energy +20.15%, Materials +13.68%, Communications +0.45%,

    While the worst sectors are Technology -21.20%, Health Care -13.35%, Consumer Discretionary -8.98%,

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    Some Political news headlines for China include:

  • China Steps Up Ideological Campaign on World Press Freedom Day
  • China marks 100th birthday of late vice president
  • Infrastructure expansion in rural areas key to growth
  • Chinese leaders demand solid efforts to drive new-type urbanization
  • PM Netanyahu Meets Chinese Vice Premier Liu Yandong
  • Xinhua Insight: China's long march into space
  • Foreign Ministry Spokesperson Lu Kang's Regular Press ...

    While some economic events and news headlines include:

    2016-06-01--China NBS Manufacturing PMI MAY

  • China's softening PMI data suggests growth has peaked and capital ...
  • Weak China Data Point to Slowing Growth

    2016-06-01--China Non Manufacturing PMI MAY

  • China official nonmanufacturing PMI rises in June
  • China's softening PMI data suggests growth has peaked and capital ...

    2016-06-01--China Caixin Manufacturing PMI MAY

  • China June PMIs fall to 4-month low
  • China Caixin services PMI jumps in June to 52.7

    2016-06-03--China Caixin Services PMI MAY

  • China service sector activity jumps to 11-month high: Caixin PMI
  • China - Caixin Services PMI, 52.7 (prior 51.2) Composite 50.3 (50.5)

    2016-06-10--China Money Supply M2 YoY MAY

  • China's New Yuan Loans Rose in May, but Its Debt Pile Increased
  • China's Retail Sales Growth Dropped Unexpectedly in May

    2016-06-12--China Fixed Asset Investment YoY MAY

  • China's Fixed Asset Investment Fell to a 16-Year Low in May
  • China's Industrial Production Remained Steady in May

    2016-06-12--China Industrial Production YoY MAY

  • Quarterly China Report of Potato Starch Q2 2016
  • China's Industrial Production Remained Steady in May

    2016-06-12--China Retail Sales YoY MAY

  • China's Retail Sales Growth Dropped Unexpectedly in May
  • Himax Surges 7% as Nomura Cites Role in 'Exciting' Microsoft ...

    2016-06-08--China Exports YoY MAY

  • China May $-denominated exports fall 4.1% YoY in slight miss
  • Earnings to grow at 15% for 3-4 quarters: Robert Parker, Credit Suisse

    2016-06-08--China Imports YoY MAY

  • [ANALYST REPORT] China's import recovery in May
  • Quarterly China Report of Potato Starch Q2 2016

    2016-06-09--China Inflation Rate YoY MAY

  • Earnings to grow at 15% for 3-4 quarters: Robert Parker, Credit Suisse
  • Market Currents: Saudi maintains strong oil exports to US, Asia

    2016-06-09--China Inflation Rate MoM MAY

  • Daily Report: Aussie Lower as RBA on Hold, BoE Carney to Speak
  • Mid-Day Report: Sterling Resumes Fall as BoE Lowers Bank Capital ...

    2016-06-09--China PPI YoY MAY

  • How Did China's CPI and PPI Move in May?
  • Oil Sticking at $50

    2016-06-10--China New Yuan Loans MAY

  • UPDATE 2-China May new yuan loans beat forecasts but money ...
  • China's New Yuan Loans Rose in May, but Its Debt Pile Increased

    2016-06-10--China FDI (YTD) YoY MAY

  • Bracing for a New Period of Monetary Easing
  • Forex: Bracing for a New Period of Monetary Easing

    2016-06-10--China Outstanding Loan Growth YoY MAY

  • Latin American ADRs Heatmap: Weekly Update
  • What Are Broadcom's Growth Deterrents?

    2016-06-07--China Foreign Exchange Reserves MAY

  • China data to show weak trade; drop in forex reserves
  • HOT TOPICS Search

    2016-06-08--China Balance of Trade MAY

  • US Ran $29016900000 Merchandise Trade Deficit With China in May
  • Asia markets trade mixed after oil rises, Fed revives growth concerns

    2016-06-14--China Outstanding Loan Growth YoY MAY

  • Latin American ADRs Heatmap: Weekly Update
  • What Are Broadcom's Growth Deterrents?

    2016-06-14--China Money Supply M2 YoY MAY

  • China's New Yuan Loans Rose in May, but Its Debt Pile Increased
  • China's Retail Sales Growth Dropped Unexpectedly in May

    2016-06-14--China New Yuan Loans MAY

  • UPDATE 2-China May new yuan loans beat forecasts but money ...
  • China's New Yuan Loans Rose in May, but Its Debt Pile Increased

    2016-06-18--China House Price Index YoY MAY

  • Market Currents: Chinese stockpiling strong…demand less so
  • Beaufort Securities Breakfast Alert: Sterling falls to new low against ...

    2016-06-13--China FDI (YTD) YoY MAY

  • Bracing for a New Period of Monetary Easing
  • Forex: Bracing for a New Period of Monetary Easing

    2016-06-13--China Industrial Production YoY MAY

  • Quarterly China Report of Potato Starch Q2 2016
  • China's Industrial Production Remained Steady in May

    2016-06-13--China Retail Sales YoY MAY

  • China's Retail Sales Growth Dropped Unexpectedly in May
  • Himax Surges 7% as Nomura Cites Role in 'Exciting' Microsoft ...

    2016-06-13--China Fixed Asset Investment YoY MAY

  • China's Fixed Asset Investment Fell to a 16-Year Low in May
  • China's Industrial Production Remained Steady in May

    2016-06-23--China MNI Business Sentiment Indicator JUN

  • China's MNI Business Sentiment Rose Sharply in June
  • China MNI indicator in June shows rebound in business sentiments

    2016-07-10--China Inflation Rate YoY JUN

  • Pakistan to resume semi-annual gas tariff notification, IMF assured
  • Latin American ADRs Heatmap: Weekly Update

    2016-07-10--China Inflation Rate MoM JUN

  • RBA Holds Interest Rate Steady At 1.75%
  • Daily Report: Aussie Lower as RBA on Hold, BoE Carney to Speak

    2016-07-10--China PPI YoY JUN

  • How Did China's CPI and PPI Move in May?
  • Brazilian Real Outshines Emerging Economies' Currencies

    2016-07-05--China Caixin Services PMI JUN

  • China Caixin services PMI rebounds in June
  • China June PMIs fall to 4-month low

    2016-07-07--China Foreign Exchange Reserves JUN

  • China data to show weak trade; drop in forex reserves
  • S. Korea's foreign exchange reserves shrink in June

    2016-07-10--China FDI (YTD) YoY JUN

  • Bracing for a New Period of Monetary Easing
  • Forex: Bracing for a New Period of Monetary Easing

  • China economic growth 'entering a new normal'
  • China growth looks stable but may need official nudge

  • China press: China may boost investment to stabilise growth
  • HK's Growth Enterprise Market jumps after China relaxes insurers ...

  • How China used more cement in 3 years than the US did in the ...
  • China's one-child policy proves hard to undo

  • Why Chinese Steel Exports Are Stirring Protests
  • China Export Gains Show Foreign Demand Still Aiding Growth

  • Iron ore price slump increases the Treasurer's budget headaches
  • China Projects 2015 Budget Deficit of 1.62 Trillion Yuan

  • China Expands Social-Security Fund Investments to Local ...

    Companies Reported last month include:

    Tencent Holdings Ltd

    Tech

  • S. Africa's media giant takes risks that pay off
  • Tencent Woos Investors to Join Clan Buying Supercell

    Lenovo Group Ltd

    Tech

  • Inside the Hun family's business empire
  • Lenovo Turns to Phones With Novel Technology for Growth

    Best Stocks Last Month and News

    Zhaojin Mining Industry Co Ltd (1818:HK)+40.03%

  • Watch Out for This Chinese Gold Stock

    Zijin Mining Group Co Ltd (2899:HK)+30.02%

  • Watch Out for This Chinese Gold Stock

    Yanzhou Coal Mining Co Ltd (1171:HK)+15.29%

  • Credit Suisse Keeps It Basic With 6 Stock Picks

    China Coal Energy Co Ltd (1898:HK)+12.79%

  • Credit Suisse Keeps It Basic With 6 Stock Picks

    Agile Property Holdings Ltd (3383:HK)+11.03%

  • Morning Report APAC: Sales tax delay talk gives Tokyo stocks a lift

    China Shenhua Energy Co Ltd (1088:HK)+10.23%

  • And the Most Attractive Stock Market for 2016 Is…

    Jiangxi Copper Co Ltd (358:HK)+9.79%

  • 7 Stocks Winning from Commodity Price Rebound

    Aluminum Corp of China Ltd (2600:HK)+9.39%

  • Chalco Too Hot to Handle as Aluminum Melts

    China Merchants Bank Co Ltd (3968:HK)+7.16%

  • China Banks Guru Warns of Bad Debt Reckoning

    Industrial & Commercial Bank of China Ltd (1398:HK)+6.47%

  • China's Postal Savings Bank files for potential $10 billion IPO

    Worst Stocks Last Month and News

    PICC Property & Casualty Co Ltd (2328:HK) -17.06%

  • AIG selling down $1.2 billion stake in Chinese insurer PICC P&C: IFR

    China BlueChemical Ltd (3983:HK) -12.15%

  • Western Potash Corp. Receives Strategic Investment from China ...

    Weichai Power Co Ltd (2338:HK) -11.35%

  • Why China's Gone MAD

    Intime Retail Group Co Ltd (1833:HK) -9.49%

  • China's Alibaba files in US for what may be biggest tech IPO

    Fosun International Ltd (656:HK) -8.20%

  • Future is Bright for Fosun

    Dongfeng Motor Group Co Ltd (489:HK) -7.25%

  • Dongfeng Leads China Auto Gain: Safe Risk-On Play, Says Credit ...

    People's Insurance Co Group of China Ltd/The (1339:HK) -7.03%

    ANTA Sports Products Ltd (2020:HK) -6.93%

  • Klay Thompson's Sneaker Line Scores Big in China ANTA KT series ...

    Tsingtao Brewery Co Ltd (168:HK) -6.93%

  • China's Beer Stocks Lack Spirit

    Want Want China Holdings Ltd (151:HK) -6.92%

  • Asian Markets Slip on Lower Oil Prices, China Outlook

    Valuations




    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Sino-Ocean Group Holding Ltd3377:HKReal Estate Owners & Developers3108.933.89%9.610.687.0837.38-34.811.13
    Zhongsheng Group Holdings Ltd881:HKBeijing, 100007 China Automotive Retailers1170.361.18%17.310.130.7520.43-17.70-12.75
    Zhaojin Mining Industry Co Ltd1818:HKChina Precious Metal Mining3558.000.50%75.584.095.4137.79140.25108.95
    Guangzhou Automobile Group Co Ltd2238:HKChina Automobiles18305.172.60%9.051.5417.0223.5356.9089.48
    Guangzhou R&F Properties Co Ltd2777:HKChina Real Estate Owners & Developers4178.3614.10%4.930.6312.7869.5140.16118.60
    Evergrande Real Estate Group Ltd3333:HKChina Real Estate Owners & Developers8445.929.36%5.860.457.6854.8539.7097.45
    Zijin Mining Group Co Ltd2899:HKChina Precious Metal Mining10871.072.42%32.850.742.2579.5036.6986.67
    BYD Co Ltd1211:HKChina Automobiles19936.33-28.261.184.18-0.0033.1710.16
    Sinopharm Group Co Ltd1099:HKChina Health Care Supply Chain13178.661.31%23.450.391.6630.7225.2435.26
    Sinopec Shanghai Petrochemical Co Ltd338:HKChina Basic & Diversified Chemicals8446.823.18%10.540.524.9333.5224.5853.57
    Tencent Holdings Ltd700:HKChina Application Software213835.510.27%45.5212.6127.7012.2922.3217.88
    China Communications Services Corp Ltd552:HKChina Infrastructure Construction3463.773.03%9.900.292.9330.0020.3844.49
    Jiangsu Expressway Co Ltd177:HKChina Infrastructure Construction6480.294.42%18.535.4629.4781.9016.20110.12
    Shui On Land Ltd272:HKChina Real Estate Owners & Developers2058.832.51%17.302.1212.2543.4211.7151.17
    Shenzhou International Group Holdings Ltd2313:HKChina Apparel, Footwear & Acc Design6798.141.91%19.323.6018.6336.9011.2148.51
    Country Garden Holdings Co Ltd2007:HKChina Real Estate Owners & Developers9352.314.73%6.560.548.2331.0311.0544.83
    AviChina Industry & Technology Co Ltd2357:HKChina Aircraft & Parts4221.800.43%30.020.993.3012.9110.89-1.84
    Yanzhou Coal Mining Co Ltd1171:HKChina Coal Operations6771.720.23%4.990.306.011.156.479.73
    China Coal Energy Co Ltd1898:HKChina Coal Operations9661.52--0.790.000.004.875.95
    Shanghai Pharmaceuticals Holding Co Ltd2607:HKChina Health Care Supply Chain7011.072.22%13.180.372.8129.263.9723.94
    Beijing Capital International Airport Co Ltd694:HKChina Transport Support Services4521.612.21%18.413.5519.2840.693.7446.38
    Agile Property Holdings Ltd3383:HKChina Real Estate Owners & Developers2191.203.34%10.460.343.2534.942.8831.69
    Wumart Stores Inc1025:HKChina Food & Drug Stores0.00---0.000.000.001.08
    China Shanshui Cement Group Ltd691:HKChina Cement & Aggregates2739.65--1.640.000.000.001.08
    China Railway Construction Corp Ltd1186:HKChina Infrastructure Construction19754.591.84%8.120.182.2214.94-2.177.95
    CNOOC Ltd883:HKChina Exploration & Production55246.125.21%18.242.1611.8495.03-3.3586.37
    SOHO China Ltd410:HKChina Real Estate Owners & Developers2446.15-30.3816.5154.34-0.00-4.1220.93
    Uni-President China Holdings Ltd220:HKChina Beverages3785.750.67%31.001.143.6820.77-4.27-9.74
    Shandong Weigao Group Medical Polymer Co Ltd1066:HKChina Health Care Supplies2579.042.01%15.903.2720.5731.96-5.7032.01
    Haitong Securities Co Ltd6837:HKChina Institutional Brokerage24520.714.19%7.042.0729.4029.50-6.4646.49
    Golden Eagle Retail Group Ltd3308:HKChina Department Stores1866.002.37%12.453.1525.3029.51-7.3636.08
    Longfor Properties Co Ltd960:HKChina Real Estate Owners & Developers7439.134.27%5.511.0418.8723.53-8.0229.95
    China Shenhua Energy Co Ltd1088:HKChina Coal Operations41703.592.65%15.951.418.8442.27-9.6326.61
    Aluminum Corp of China Ltd2600:HKChina Base Metals7841.54-161.330.260.16-0.00-9.92-170.01
    ANTA Sports Products Ltd2020:HKChina Specialty Apparel Stores4777.854.04%15.632.9018.5563.15-10.2356.92
    Zhuzhou CRRC Times Electric Co Ltd3898:HKChina Railroad Rolling Stock6280.241.27%14.182.9821.0218.01-10.8815.04
    China Petroleum & Chemical Corp386:HKChina Integrated Oils86609.183.30%15.710.311.9751.84-11.2527.94
    ENN Energy Holdings Ltd2688:HKChina Utility Networks5182.582.05%17.051.086.3334.95-13.1212.20
    China Communications Construction Co Ltd1800:HKChina Infrastructure Construction23344.162.79%7.170.283.9120.00-14.653.17
    China Minsheng Banking Corp Ltd1988:HKChina Banks46039.733.78%4.830.8417.3918.26-14.8317.07
    China Railway Group Ltd390:HKChina Infrastructure Construction22556.871.76%9.260.181.9416.30-15.32-5.26
    Dongfeng Motor Group Co Ltd489:HKChina Automobiles8895.632.92%5.150.479.1315.04-15.734.37
    Jiangxi Copper Co Ltd358:HKChina Base Metals6310.271.25%39.910.150.3849.89-15.74-4.30
    Zhejiang Expressway Co Ltd576:HKChina Infrastructure Construction4013.775.67%8.972.1523.9750.86-15.7451.20
    China Longyuan Power Group Corp Ltd916:HKChina Power Generation6266.841.40%14.542.2015.1320.36-17.294.74
    China Pacific Insurance Group Co Ltd2601:HKChina Life Insurance34417.724.61%11.230.817.2151.77-17.3831.46
    China Merchants Bank Co Ltd3968:HKChina Banks63522.164.84%6.221.1818.9730.10-18.0225.92
    CITIC Securities Co Ltd6030:HKChina Institutional Brokerage29112.433.50%9.532.1822.8833.36-18.2329.56
    China CITIC Bank Corp Ltd998:HKChina Banks36227.915.42%4.550.7115.6024.66-18.2818.52
    BBMG Corp2009:HKChina Cement & Aggregates5725.480.73%9.980.525.217.29-18.86-15.26
    Intime Retail Group Co Ltd1833:HKChina Department Stores2134.874.32%8.672.0023.0737.45-19.2633.68
    China Telecom Corp Ltd728:HKChina Telecom Carriers36928.322.68%12.070.746.1332.35-19.478.02
    China Construction Bank Corp939:HKChina Banks164340.136.36%4.781.1423.8530.40-19.8030.76
    Hengan International Group Co Ltd1044:HKChina Household Products10264.493.20%19.813.2716.5163.39-19.8241.35
    PICC Property & Casualty Co Ltd2328:HKChina P&C Insurance22553.393.02%6.900.578.2620.84-20.802.49
    Agricultural Bank of China Ltd1288:HKChina Banks146939.417.05%4.350.9421.6130.67-21.7127.30
    New China Life Insurance Co Ltd1336:HKChina Life Insurance16277.151.21%10.400.504.8112.58-24.91-16.84
    Industrial & Commercial Bank of China Ltd1398:HKChina Banks230978.446.55%4.641.2025.8630.39-25.3827.31
    Ping An Insurance Group Co of China Ltd2318:HKChina Life Insurance83944.941.87%9.470.768.0317.71-25.44-8.10
    China Shipping Container Lines Co Ltd2866:HKChina Marine Shipping5662.58--0.520.000.00-25.66-24.58
    Chongqing Rural Commercial Bank Co Ltd3618:HKChina Banks4639.036.10%4.170.8420.1425.44-26.9515.54
    Anhui Conch Cement Co Ltd914:HKChina Cement & Aggregates12070.432.72%11.261.6614.7430.63-26.988.21
    China COSCO Holdings Co Ltd1919:HKChina Marine Shipping6929.10--0.420.000.00-27.28-26.20
    Weichai Power Co Ltd2338:HKChina Commercial Vehicles4590.953.04%19.560.371.8959.46-27.5215.36
    Daphne International Holdings Ltd210:HKChina Specialty Apparel Stores255.08--0.240.000.00-27.69-26.61
    Fosun International Ltd656:HKChina Steel Producers11000.731.72%8.060.8310.3013.86-28.29-11.11
    Bank of China Ltd3988:HKChina Banks135081.146.73%4.761.0121.2232.03-29.7419.84
    People's Insurance Co Group of China Ltd/The1339:HKChina P&C Insurance15857.860.91%5.450.264.774.96-30.07-24.71
    China International Marine Containers Group Co Ltd2039:HKChina Fabricated Metal & Hardware4857.122.71%12.190.423.4533.03-31.13-5.76
    Bank of Communications Co Ltd3328:HKChina Banks55826.286.52%4.660.8618.4530.38-31.2913.97
    Zoomlion Heavy Industry Science and Technology Co Ltd1157:HKChina Construction & Mining Machinery4368.357.19%-0.810.00-0.00-33.49-32.40
    Want Want China Holdings Ltd151:HKChina Packaged Food8566.442.76%16.152.5515.7944.57-33.6411.66
    PetroChina Co Ltd857:HKChina Integrated Oils189861.182.00%52.180.500.96104.36-35.9718.25
    Datang International Power Generation Co Ltd991:HKChina Power Generation6780.3510.06%8.070.364.4681.18-36.9041.75
    Air China Ltd753:HKChina Airlines12267.762.36%8.040.546.7218.97-37.26-18.53
    China BlueChemical Ltd3983:HKChina Agricultural Chemicals849.676.61%6.830.537.7645.15-39.627.54
    China Southern Airlines Co Ltd1055:HKChina Airlines9531.082.14%10.100.333.2721.61-39.75-23.89
    ZTE Corp763:HKChina Communications Equipment8188.523.12%10.300.343.3032.14-41.01-14.79
    Shanghai Electric Group Co Ltd2727:HKChina Electrical Power Equipment12528.90-17.240.462.67-0.00-42.27-55.76
    Tsingtao Brewery Co Ltd168:HKChina Beverages5310.571.76%17.561.196.7830.91-43.44-22.23
    Huaneng Power International Inc902:HKChina Power Generation15059.2311.93%4.590.4810.4654.76-44.2317.48
    China Life Insurance Co Ltd2628:HKChina Life Insurance81259.173.03%11.560.796.8335.03-44.70-13.32
    China Oilfield Services Ltd2883:HKChina Oil & Gas Services & Equip6849.051.35%22.631.054.6430.55-44.95-31.31
    Great Wall Motor Co Ltd2333:HKChina Automobiles11155.283.43%6.410.7111.0821.99-45.19-17.45
    China National Building Material Co Ltd3323:HKChina Cement & Aggregates2393.951.27%15.670.161.0219.90-45.98-39.64
    Parkson Retail Group Ltd3368:HKChina Department Stores238.978.64%--0.00-0.00-48.27-47.18
    Lenovo Group Ltd992:HKChina Computer Hardware & Storage6643.725.71%-0.150.00-0.00-49.19-48.10
    Tingyi Cayman Islands Holding Corp322:HKChina Beverages5084.102.53%24.510.572.3362.01-52.39-11.48
    Sihuan Pharmaceutical Holdings Group Ltd460:HKChina Generic Pharma2244.823.10%7.324.7665.0322.69-59.9721.51
    CRRC Corp Ltd1766:HKChina Railroad Rolling Stock35372.052.58%13.540.685.0234.93-24.592.90
    Greentown China Holdings Ltd3900:HKHangzhou China Real Estate Owners & Developers1566.45-19.420.402.06-0.00-29.21-45.49
    Sun Art Retail Group Ltd6808:HKHong Kong (SAR) Food & Drug Stores6369.443.67%17.760.452.5365.18-18.3732.67

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications36928.31.610.3794505.832.343.32.73.212.118.2-33.56.113.67.5-19.5-0.7
    Consumer Discretionary97332.54.26.6509681.020.127.02.72.013.516.4-17.710.69.6-1.01.63.1
    Consumer Staples39380.81.77.5584775.350.938.02.71.820.128.2-28.79.710.30.6-28.512.3
    Energy396702.417.012.6973390.456.740.82.84.433.912.4173.43.79.76.0-21.7-21.0
    Financials1232324.952.932.82543065.729.526.05.44.06.18.8-30.719.020.41.4-23.33.2
    Health Care25013.61.12.3178295.829.720.31.81.018.331.7-42.39.617.07.48.413.6
    Industrials168946.27.25.8453138.223.623.42.61.812.318.6-33.96.211.45.2-16.522.9
    Materials71807.63.17.6590209.431.327.52.13.117.718.1-2.26.19.83.70.6-0.1
    Technology228667.79.810.8833615.612.629.20.52.344.218.9133.926.819.8-7.018.02.8
    Utilities33289.01.43.7288099.050.632.28.03.19.112.4-26.69.513.43.9-32.8-5.6

    Top 5 China Index Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Guangzhou R&F Properties Co Ltd2777:HKChina Real Estate Owners & Developers4178.3614.10%4.930.6312.7869.5140.16118.60
    Jiangsu Expressway Co Ltd177:HKChina Infrastructure Construction6480.294.42%18.535.4629.4781.9016.20110.12
    Zhaojin Mining Industry Co Ltd1818:HKChina Precious Metal Mining3558.000.50%75.584.095.4137.79140.25108.95
    Evergrande Real Estate Group Ltd3333:HKChina Real Estate Owners & Developers8445.929.36%5.860.457.6854.8539.7097.45
    Guangzhou Automobile Group Co Ltd2238:HKChina Automobiles18305.172.60%9.051.5417.0223.5356.9089.48

    Top 5 China Index Short Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Aluminum Corp of China Ltd2600:HKChina Base Metals7841.54-161.330.260.16-0.00-9.92-170.24
    Shanghai Electric Group Co Ltd2727:HKChina Electrical Power Equipment12528.90-17.240.462.67-0.00-42.27-55.99
    Lenovo Group Ltd992:HKChina Computer Hardware & Storage6643.725.71%-0.150.00-0.00-49.19-48.33
    Parkson Retail Group Ltd3368:HKChina Department Stores238.978.64%--0.00-0.00-48.27-47.42
    Greentown China Holdings Ltd3900:HKHangzhou China Real Estate Owners & Developers1566.45-19.420.402.06-0.00-29.21-45.72
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
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    Weekly Fund flow into China focused funds showed (Previous Week)-68.5 USD mn of outflow.


    Top 10 China Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    HSBC EQUITY FUND/INDIA - DIVIDEND (HSBCHED)253.61441.0
    HSBC GLOBAL INVESTMENT FUNDS - CHINESE EQUITY - ED (HSBCHED)253.61441.0
    CHINA FUND INC/THE (CHN)35.5370.2
    BOCI-PRUDENTIAL - W.I.S.E. - CSI CHINA TRACKER FUND (2827)14.5473.9
    JPMORGAN CHINA REGION FUND INC (JFC)12.0153.1
    ABERDEEN GREATER CHINA FUND INC (GCH)11.389.3
    LION GLOBAL GOLD FUND OF FUNDS QDII (LIOGGDQ)3.5103.0
    HSBC FONDO GLOBAL 1 SA DE CV SIRV (HSBRICA)3.5376.2
    HSBC GLOBAL INVESTMENT FUNDS - BRIC EQUITY - A (HSBRICA)3.5376.2
    KB CHINA MAINLAND A SHARE LEVERAGE SEC FEEDER INVST TRUST-EQUITY-DERV FOF (3AF8926)3.2175.5

    Top 10 China Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    VANGUARD FTSE EMERGING MARKETS ETF (VWO)-2920.535009.0
    HANG SENG INVESTMENT INDEX FUNDS SERIES - H-SHARE INDEX ETF (2828)-133.95973.8
    FIDELITY FUNDS - CHINA RMB BOND FUND - A ACC EURO (FFCRAAE)-102.41162.8
    BLACKROCK GLOBAL FUNDS - CHINA FUND - HEDGE EURA2 (H2ZP)-57.61880.0
    ISHARES CHINA LARGE-CAP ETF (FXI)-57.63501.0
    CHANGSHENG TELECOM INDUSTRY FUND (CHTEINF)-29.7668.4
    FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON BRIC FUND - A(ACC) EUR H1 (TEMACEH)-28.3779.1
    SCHRODER INTERNATIONAL SELECTION FUND - BRIC - A ACC SFR (SCHRBAC)-22.6839.7
    CITIC-PRUDENTIAL CSI 800 FINANCIAL INDEX CLASSIFIED FUND (150158)-22.5374.7
    DB X-TRACKERS HARVEST CSI 300 CHINA A-SHARES FUND (ASHR)-19.8326.5



    Bond Picks

    Souvereign Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 20101.12.50USDApr 28, 20203.642.19-0.351.26
  • Full Steam Ahead
    • STATE GRID OVERSEAS INVESTMENT 201 RegS 24110.14.13USDMay 7, 20246.752.69-0.191.40
  • Obama carbon emissions rule halted by Supreme Court
    • CHINA DEVELOPMENT BANK CORP MTN RegS 20102.42.50USDOct 9, 20204.041.91-0.130.50
  • Is it worth it?
    • SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 24107.74.38USDApr 10, 20246.613.23-0.281.90
  • Full Steam Ahead
    • SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 22106.23.90USDMay 17, 20225.272.74-0.462.50
  • SEG Announces 2015 Annual Results

    • Corporate Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    SHIMAO PROPERTY HOLDINGS LTD RegS 21110.48.13USDJan 22, 20211.515.49-0.301.10
  • Welcome, you are now entering China
    • CNOOC FINANCE (2012) LTD RegS 42111.95.00USDMay 2, 204214.744.23-0.304.80
  • Oil sands fared well through Canada fire, but restart a challenge
    • COUNTRY GARDEN HOLDINGS COMPANY LT RegS 20107.47.50USDMar 9, 20202.245.24-0.692.20
  • Google boss on life beyond the smartphone and how the company ...
    • SINOPEC GROUP OVERSEAS DEVELOPMENT RegS 23107.94.38USDOct 17, 20236.273.15-0.241.60
  • Belt-tightening works: China's official spending on perks well under ...
    • BANK OF CHINA LTD / HONG KONG MTN RegS 25106.73.88USDJun 30, 20257.663.02-0.141.20
  • Treasury takes tough line against directors of Denel

    • View China Econ Page






    • Canada Performance Snapshot

    Index 1 month Ch%YTD Ch%1 year Ch%
    SPTSX:IND -0.356.81-5.21
    MSCI Canada 0.83
    MSCI GEM 3.945.68-13.68
    MSCI BRIC 2.873.09-18.47
    MSCI World -0.370.43-5.30

    Indexes YTD performance %

    MSCI IndexYTDChange
    PERU48.6
    BRAZIL44.6
    BRAZIL ADR43.8
    EM LATIN AMERICA24.9
    EFM LATIN AMERICA & CARIBBEAN INDEX24.6
    COLOMBIA24.1
    ANDEAN22.2
    RUSSIA ADR/GDR21.1
    EM LATIN AMERICA WITH BRAZIL ADR20.1
    RUSSIA19.7
    THAILAND17.9
    NEW ZEALAND16.9
    EM ex ASIA16.4
    SOUTH AFRICA15.1
    CANADA14.5
    CHILE14.2
    INDONESIA13.7
    PHILIPPINES12.8
    EFM AFRICA12.0
    EMERGING + FRONTIER MARKETS WORKFORCE11.8
    EM EASTERN EUROPE11.5
    TURKEY10.5
    EM EMEA10.2
    SOUTH EAST ASIA9.0
    HUNGARY8.9
    EM EUROPE8.6
    TAIWAN8.5
    EFM EUROPE + CIS (E+C)8.3
    EFM EMEA8.3
    EM LATIN AMERICA ex BRAZIL7.9
    EMERGING MARKETS HORIZON7.0
    EM EUROPE & MIDDLE EAST6.7
    EM 506.2
    EM (EMERGING MARKETS)5.7
    EFM (EMERGING + FRONTIER MARKETS)5.5
    MALAYSIA5.4
    EM WITH BRAZIL + INDIA + RUSSIA DR5.2
    KOREA5.2
    EM WITH BRAZIL ADR4.8
    UNITED ARAB EMIRATES4.8
    NORWAY3.9
    SINGAPORE3.8
    INDIA DOMESTIC3.3
    NORTH AMERICA3.2
    BRIC3.1
    USA2.7
    EM FAR EAST1.7
    MEXICO1.7
    EM ASIA1.6
    EFM ASIA1.6
    ASIA APEX 501.4
    UNITED ARAB EMIRATES DOMESTIC1.2
    BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
    INDIA1.0
    BRIC WITH BRAZIL ADR0.9
    AUSTRALIA0.9
    PACIFIC ex JAPAN0.7
    JORDAN + EGYPT + MOROCCO0.6
    World0.4
    KOKUSAI INDEX (WORLD ex JP)0.4
    G7 INDEX0.4
    WORLD WITH USA GROSS-0.2
    BELGIUM-0.7
    DENMARK-1.2
    PORTUGAL-1.4
    HONG KONG-1.7
    EFM EUROPE + CIS (E+C) ex RU-1.8
    NETHERLANDS-3.1
    EM (EMERGING MARKETS)+CHINA A-3.5
    PACIFIC-3.8
    EAFE + CANADA-4.1
    EFM CEEC ex RU-4.1
    NORDIC COUNTRIES-4.4
    EM EASTERN EUROPE ex RUSSIA-4.5
    CZECH REPUBLIC-4.8
    EUROPE ex EMU-4.9
    CHINA 50-4.9
    QATAR-5.0
    FAR EAST-5.1
    UNITED KINGDOM-5.1
    SWITZERLAND-5.1
    FRANCE-5.2
    EASEA INDEX (EAFE ex JAPAN)-5.5
    EAFE ex ISRAEL-5.5
    EAFE-5.6
    EAFE ex UK-5.7
    JAPAN-6.0
    NIHONKABU-6.2
    PAN-EURO-6.3
    EUROPE-6.4
    CHINA-6.5
    EUROPE & MIDDLE EAST-6.5
    EGYPT-6.5
    SWEDEN-6.6
    EUROPE ex SWITZERLAND-6.7
    EU-6.8
    EUROPE ex UK-7.0
    POLAND-7.3
    QATAR DOMESTIC-7.8
    EMU ex GERMANY-7.9
    EMU-8.2
    EURO-8.5
    FINLAND-8.7
    GERMANY-8.9
    EFM AFRICA ex ZA-10.1
    AUSTRIA-11.5
    SPAIN-11.5
    CHINA A 50-12.9
    IRELAND-13.4
    ISRAEL-14.2
    ITALY-22.4
    GREECE-25.8

    Indexes 1m performance %

    IndexLastChnge
    Jakarta Stock Exchange Composite Index5016.1094.39
    Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
    Karachi Stock Exchange KSE100 Index37786.573.87
    FTSE 100 Index6360.061.19
    Shanghai Stock Exchange Composite Index2930.5490.48
    S&P BSE SENSEX Index26740.390.35
    Russian Trading System Cash Index930.150.16
    Hong Kong Hang Seng Index20791.68-0.28
    S&P/TSX Composite Index14036.74-0.35
    Korea Stock Exchange KOSPI Index1966.52-0.85
    Dow Jones Industrial Average17694.68-1.00
    Russian Depositary Index USD1069.58-1.15
    Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
    S&P 500 Index2070.77-1.35
    MICEX Index1888.15-2.62
    Borsa Istanbul 100 Index76711.97-2.87
    Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
    FTSE/JSE Africa All Share Index51890.42-4.74
    Deutsche Boerse AG German Stock Index DAX9612.27-7.18
    Nikkei 22515694.81-8.94

    Currencies 1m performance %

    TickerLastChnge
    USDNGN:CUR282.541.92
    USDGEL:CUR2.3559.92
    USDGBP:CUR0.74599.18
    USDARS:CUR14.9687.27
    USDTND:CUR2.21975.51
    USDAZN:CUR1.54794.24
    USDCRC:CUR546.632.08
    USDSEK:CUR8.46931.59
    USDKZT:CUR338.991.01
    USDHUF:CUR285.181.00
    USDCNH:CUR6.65470.97
    USDCNY:CUR 6.64330.88
    USDINR:CUR 67.6850.70
    USDRON:CUR4.07620.70
    USDPLN:CUR3.97860.60
    USDHRK:CUR6.76770.60
    USDEGP:CUR8.87960.55
    USDPHP:CUR46.9930.47
    USDCZK:CUR24.40320.47
    USDRSD:CUR110.98810.34
    USDNOK:CUR 8.39660.32
    USDKES:CUR101.250.32
    USDTTD:CUR6.65150.30
    USDMXN:CUR18.52910.30
    USDMAD:CUR9.79210.22
    USDBAM:CUR1.76060.20
    USDDKK:CUR6.69580.17
    USDLBP:CUR1513.750.15
    USDBGN:CUR1.76060.15
    USDLTL:CUR3.10820.14
    USDNLG:CUR1.98380.14
    USDEUR:CUR 0.90020.13
    USDLVL:CUR0.63260.13
    USDBHD:CUR0.377320.08
    USDQAR:CUR3.64130.03
    USDSAR:CUR3.75060.01
    USDOMR:CUR0.3850.00
    USDAED:CUR3.67290.00
    USDVEF:CUR9.98750.00
    USDPAB:CUR10.00
    USDBSD:CUR10.00
    USDBBD:CUR20.00
    USDBDT:CUR78.35-0.04
    USDHKD:CUR7.7586-0.12
    USDJOD:CUR0.7082-0.16
    USDPKR:CUR104.68-0.17
    USDKWD:CUR0.30185-0.17
    USDVND:CUR22300-0.42
    USDMDL:CUR19.82-0.43
    USDCAD:CUR 1.2946-0.80
    USDTWD:CUR32.275-1.03
    USDUAH:CUR24.8864-1.15
    USDCHF:CUR0.9799-1.30
    USDLKR:CUR146.25-1.32
    USDISK:CUR123.5-1.32
    USDTHB:CUR35.207-1.48
    USDTRL:CUR 2894310-2.04
    USDTRY:CUR2.8943-2.04
    USDPEN:CUR3.2887-2.30
    USDSGD:CUR1.3491-2.33
    USDMYR:CUR4.02-2.70
    USDAUD:CUR 1.3433-2.86
    USDIDR:CUR13179-3.24
    USDRUB:CUR 63.8022-3.28
    USDKRW:CUR 1152.54-3.30
    USDCLP:CUR661.95-4.15
    USDCOP:CUR2915.6-5.00
    USDNZD:CUR1.4091-5.37
    USDZAR:CUR 14.8227-6.12
    USDJPY:CUR 102.77-7.59
    USDBRL:CUR 3.2206-9.78

    Bond rates 1m performance %

    countryyield1wk1d1m1y
    GREECE 7.97%0.94 -41 +91 -663
    PORTUGAL 3.05%0.05 -6 +4 +1
    ITALY 1.37%0.01 -3 +2 -102
    INDIA 7.44%-0.02 -1 -3 -45
    JAPAN » -0.23%-0.11 +1 -12 --
    MEXICO 5.88%-0.22 -7 -20 -17
    SPAIN 1.25%-0.22 -6 -23 -109
    CANADA 1.12%-0.23 +5 -22 -62
    NEW ZEALAND 2.33%-0.26 +4 -22 --
    SWITZERLAND -0.62%-0.27 -2 -25 -67
    NETHERLANDS 0.10%-0.28 -2 -24 -96
    AUSTRALIA » 2.00%-0.29 +2 -25 --
    GERMANY » -0.13%-0.30 -1 -26 -92
    FRANCE 0.21%-0.30 -3 -25 -102
    HONG KONG 0.93%-0.30 +0 -- --
    SINGAPORE 1.92%-0.30 +6 -- --
    SOUTH KOREA 1.46%-0.34 -1 -32 --
    UNITED STATES » 1.51%-0.36 +5 -34 -81
    UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
    BRAZIL 12.12%-0.75 +10 -91 -53

    Commodities 1m performance %

    nameunitsPriceChng
    NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
    SugarUSD/LB.21.0119.92
    CoffeeUSD/LB.144.4519.08
    SilverUSD/T OZ.18.3313.92
    PalladiumUSD/T OZ.592.368.72
    GOLDUSD/T OZ.1316.158.62
    Copper$/t4838.003.05
    PlatinumUSD/T OZ.1004.332.78
    HogsUSD/LB.83.332.78
    COCOAUSD/MT3034.000.97
    OIL BrentUSD/BBL.49.990.73
    RiceUSD/CWT10.930.28
    CattleUSD/LB.114.13-1.98

    Best Stocks 1m in USD %ch

    NameChngePctCountry
    Silver Wheaton Corp (SLW:CN)25.45Canada
    Colonial Coal International Corp (CAD:CN)22.49Canada
    Yamana Gold Inc (YRI:CN)22.46Canada
    Barrick Gold Corp (ABX:CN)20.81Canada
    Franco-Nevada Corp (FNV:CN)14.68Canada
    Baytex Energy Corp (BTE:CN)13.56Canada
    Agnico Eagle Mines Ltd (AEM:CN)12.26Canada
    Goldcorp Inc (G:CN)10.18Vancouver, BC V6C 2X8 Canada
    TransCanada Corp (TRP:CN)9.54Canada
    MEG Energy Corp (MEG:CN)9.19Canada

    Worst Stocks 1m in USD %

    NameChngePctCountry
    Valeant Pharmaceuticals International Inc (VRX:CN)-20.46United States
    Magna International Inc (MG:CN)-16.39Canada
    Manulife Financial Corp (MFC:CN)-11.62Canada
    BlackBerry Ltd (BB:CN)-10.28Canada
    Cenovus Energy Inc (CVE:CN)-10.26Canada
    CGI Group Inc (GIB/A:CN)-10.04Canada
    Cameco Corp (CCO:CN)-9.28Canada
    Sun Life Financial Inc (SLF:CN)-8.48Canada
    Crescent Point Energy Corp (CPG:CN)-7.09Canada
    IGM Financial Inc (IGM:CN)-6.61Canada

    Best Stocks YTD in USD %

    NameChngePctCountry
    Colonial Coal International Corp (CAD:CN)260.75Canada
    Yamana Gold Inc (YRI:CN)203.94Canada
    Barrick Gold Corp (ABX:CN)197.73Canada
    Agnico Eagle Mines Ltd (AEM:CN)108.54Canada
    Silver Wheaton Corp (SLW:CN)104.65Canada
    First Quantum Minerals Ltd (FM:CN)91.28Canada
    Baytex Energy Corp (BTE:CN)74.16Canada
    Franco-Nevada Corp (FNV:CN)70.10Canada
    Goldcorp Inc (G:CN)69.46Vancouver, BC V6C 2X8 Canada
    Eldorado Gold Corp (ELD:CN)62.82Canada

    Worst Stocks YTD in USD %

    NameChngePctCountry
    Valeant Pharmaceuticals International Inc (VRX:CN)-76.79United States
    Pacific Exploration and Production Corp (PRE:CN)-59.99Colombia
    BlackBerry Ltd (BB:CN)-29.16Canada
    Magna International Inc (MG:CN)-14.84Canada
    Cameco Corp (CCO:CN)-11.85Canada
    MEG Energy Corp (MEG:CN)-11.39Canada
    Manulife Financial Corp (MFC:CN)-9.94Canada
    Potash Corp of Saskatchewan Inc (POT:CN)-3.95Canada
    CI Financial Corp (CIX:CN)-3.43Canada
    Imperial Oil Ltd (IMO:CN)-1.18Canada

    Sector Performance 1m in USD %

    sectorChngePct
    Health Care-20.46
    Technology-6.83
    Consumer Discretionary-5.74
    Financials-4.31
    Consumer Staples-2.03
    Industrials0.56
    Energy2.38
    Communications3.48
    Utilities5.39
    Materials8.87

    Sector Performance YTD in USD %

    sectorChngePct
    Health Care-76.79
    Consumer Discretionary2.87
    Technology3.41
    Financials8.97
    Industrials20.90
    Consumer Staples21.91
    Communications24.95
    Utilities38.99
    Energy40.52
    Materials81.28

    Table of Contents


    Turkey Stance
         Turkey Valuations
         Turkey Top Stock Picks
         Turkey Top Bond Picks
         Turkey Last Month Performance Review

    South Africa Stance
         South Africa Valuations
         South Africa Top Stock Picks
         South Africa Top Bond Picks
         South Africa Last Month Performance Review

    Russia Stance
         Russia Valuations
         Russia Top Stock Picks
         Russia Top Bond Picks
         Russia Last Month Performance Review

    Korea Stance
         Korea Valuations
         Korea Top Stock Picks
         Korea Top Bond Picks
         Korea Last Month Performance Review

    India Stance
         India Valuations
         India Top Stock Picks
         India Top Bond Picks
         India Last Month Performance Review

    China Stance
         China Valuations
         China Top Stock Picks
         China Top Bond Picks
         China Last Month Performance Review

    Canada Stance
         Canada Valuations
         Canada Top Stock Picks
         Canada Top Bond Picks
         Canada Last Month Performance Review

    Brazil Stance
         Brazil Valuations
         Brazil Top Stock Picks
         Brazil Top Bond Picks
         Brazil Last Month Performance Review

    Australia Stance
         Australia Valuations
         Australia Top Stock Picks
         Australia Top Bond Picks
         Australia Last Month Performance Review


















    Canada



    Our Stance

    Canada markets have been supported by commodities rally this year TSX Index up almost 7% ytd. Yet domestic story for Canada has been lagging.




    Canada Last Month Review

    Canada SPTSX:IND Index lost-0.35% last month. To finish the month at 14036.74

    MSCI Canada Index gained 0.83% last month. Its overall up % since the beginning of the year.

    At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

    CAD last month gained 0.8% against US dollar. To finish the month at 1.2946per USD.

    While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

    Best stocks last month in Canada included Silver Wheaton Corp (SLW:CN) +25.45%, Colonial Coal International Corp (CAD:CN) +22.49%, Yamana Gold Inc (YRI:CN) +22.46%, Barrick Gold Corp (ABX:CN) +20.81%, Franco-Nevada Corp (FNV:CN) +14.68%, Baytex Energy Corp (BTE:CN) +13.56%, Agnico Eagle Mines Ltd (AEM:CN) +12.26%, Goldcorp Inc (G:CN) +10.18%, TransCanada Corp (TRP:CN) +9.54%, MEG Energy Corp (MEG:CN) +9.19%, .

    Worst stocks last month included Valeant Pharmaceuticals International Inc (VRX:CN) -20.46%, Magna International Inc (MG:CN) -16.39%, Manulife Financial Corp (MFC:CN) -11.62%, BlackBerry Ltd (BB:CN) -10.28%, Cenovus Energy Inc (CVE:CN) -10.26%, CGI Group Inc (GIB/A:CN) -10.04%, Cameco Corp (CCO:CN) -9.28%, Sun Life Financial Inc (SLF:CN) -8.48%, Crescent Point Energy Corp (CPG:CN) -7.09%, IGM Financial Inc (IGM:CN) -6.61%,

    Best stocks YTD included Colonial Coal International Corp (CAD:CN) +260.75%, Yamana Gold Inc (YRI:CN) +203.94%, Barrick Gold Corp (ABX:CN) +197.73%, Agnico Eagle Mines Ltd (AEM:CN) +108.54%, Silver Wheaton Corp (SLW:CN) +104.65%, First Quantum Minerals Ltd (FM:CN) +91.28%, Baytex Energy Corp (BTE:CN) +74.16%, Franco-Nevada Corp (FNV:CN) +70.10%, Goldcorp Inc (G:CN) +69.46%, Eldorado Gold Corp (ELD:CN) +62.82%,

    While worst stocks YTD included Valeant Pharmaceuticals International Inc (VRX:CN) -76.79%, Pacific Exploration and Production Corp (PRE:CN) -59.99%, BlackBerry Ltd (BB:CN) -29.16%, Magna International Inc (MG:CN) -14.84%, Cameco Corp (CCO:CN) -11.85%, MEG Energy Corp (MEG:CN) -11.39%, Manulife Financial Corp (MFC:CN) -9.94%, Potash Corp of Saskatchewan Inc (POT:CN) -3.95%, CI Financial Corp (CIX:CN) -3.43%, Imperial Oil Ltd (IMO:CN) -1.18%,

    In terms of sector performance last month

    the best sectors included Materials +8.87%, Utilities +5.39%, Communications +3.48%,

    While worst sector performance last month showed Health Care -20.46%, Technology -6.83%, Consumer Discretionary -5.74%,

    YTD the best sectors remain Materials +81.28%, Energy +40.52%, Utilities +38.99%,

    While the worst sectors are Health Care -76.79%, Consumer Discretionary 2.87%, Technology 3.41%,

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    Some Political news headlines for Canada include:

  • Did the Governor General say too much on refugees and the niqab?
  • GARDEN BRUNCH EDITION -- TRUMP revives Latino activism ...
  • Canadian minister rejected Arctic drilling review warning -memo
  • Who's in and who's out: election night big wins and losses
  • Vizag all set for Naval power display
  • Bay of Fundy lone Canadian contender for New7Wonders of Nature
  • Canadians Need to Be Better Educated About the Trans-Pacific ...

    While some economic events and news headlines include:

    2016-06-01--Canada RBC Manufacturing PMI MAY

  • Canadian RBC PMI Dips to Three-Month Low
  • Canadian Manufacturing Optimism Is At A 4-Month Low: RBC

    2016-06-02--Canada BoC Schembri Speech

  • CANADA ECONOMICS: RBC Awaits Speech By BoC's Poloz ...
  • CANADA ECONOMICS: RBC on Schembri's Speech of Thursday ...

    2016-06-03--Canada Balance of Trade APR

  • The weak jobs report in May raised serious red flags for the Fed
  • Canada: International Merchandise Trade, May 2016

    2016-06-03--Canada Exports APR

  • Canadian economy rebounds 0.1% in April, in line with forecast
  • US Iron Ore exports and imports surged higher in April

    2016-06-03--Canada Imports APR

  • US Iron Ore exports and imports surged higher in April
  • Revenue Update on Pier 1 Imports Inc(NYSE:PIR)

    2016-06-03--Canada Labor Productivity QoQ Q1

  • Cloud Unit Pushes Amazon to Record Profit
  • US First-Quarter GDP Growth Revised Higher; Corporate Profits Rose

    2016-06-04--Canada BoC Gov Poloz Press Conference

  • USD/CAD Canadian Dollar Higher as Oil Price Rises
  • USD/CAD Loonie Lower on Signs of Oil Glut

    2016-06-09--Canada New Housing Price Index MoM APR

  • Week In Review: LatAm Macro Headlines
  • Daily Report: Dollar Recovers as Selling Exhausted But Downside ...

    2016-06-09--Canada BoC Financial System Review

  • USD/CAD – Loonie Stable on BOC Financial Review and Oil Drop
  • BoC Review: Bank of Canada Warns over Housing Vulnerability

    2016-06-09--Canada BoC Gov Poloz Speech

  • Canadian economy making progress, Governor Poloz says
  • CANADA ECONOMICS: RBC Awaits Speech By BoC's Poloz ...

    2016-06-09--Canada BoC Deputy Gov Wilkins Speech

  • CANADA ECONOMICS: BMO Awaits Speech From BoC's Wilkins ...
  • Bank of Canada Demos Blockchain-Based Digital Dollar

    2016-06-10--Canada Employment Change MAY

  • NZD/USD – Kiwi Posts Strong Gains After Fed, US Job Data Shines
  • What will and won't be delivered if there's a labour disruption at ...

    2016-06-10--Canada Full Time Employment Chg MAY

  • Dow closes down more than 200 points; retail plunges, posts worst ...
  • Bright Horizons Gains As Job Growth Sparks Work Perks

    2016-06-10--Canada Participation Rate MAY

  • Canada's May Employment Number Less Mediocre than it First ...
  • Unemployment, stagnant wages still linger in Canada: OECD report

    2016-06-10--Canada Part Time Employment Chg MAY

  • Oil Hits Two-Week Low As Canada Fires Shift Direction
  • Bright Horizons Gains As Job Growth Sparks Work Perks

    2016-06-10--Canada Unemployment Rate MAY

  • Canada's unemployment rate fell to 6.9 per cent in May
  • QuickList: Canadian unemployment rates by province for month of May

    2016-06-08--Canada Building Permits MoM APR

  • Value of Canada building permits drops on weakness in Ontario
  • Fort McMurray fire: 2400 structures gone, 10% of city destroyed

    2016-06-09--Canada Capacity Utilization Q1

  • AZZ's (AZZ) CEO Tom Ferguson on Q1 2017 Results - Earnings Call ...
  • Asia Roundup Aussie declines as RBA stands pat, Brent falls below ...

    2016-06-09--Canada New Housing Price Index YoY APR

  • Week In Review: LatAm Macro Headlines
  • Daily Report: Dollar Recovers as Selling Exhausted But Downside ...

    2016-06-07--Canada Ivey PMI s.a MAY

  • March 2016 Canadian Ivey PMI 50.1 vs 55.0 exp SA
  • Grid Sight Index (GSI)

    2016-06-08--Canada Housing Starts MAY

  • Canada housing starts decline in May as British Colombia slows
  • Canadian Housing Starts Fall 1.5% in May from April

    2016-06-17--Canada Inflation Rate YoY MAY

  • Mid-Day Report: Dollar Steady after Positive Job Data
  • Mid-Day Report: Risk Aversion Stays as Focus Turns to FOMC Minutes

    2016-06-17--Canada Inflation Rate MoM MAY

  • Mid-Day Report: Dollar Steady after Positive Job Data
  • Low incomes add to Vancouver housing price woes

    2016-06-17--Canada BoC Deputy Gov Wilkins Speech

  • CANADA ECONOMICS: BMO Awaits Speech From BoC's Wilkins ...
  • Bank of Canada Demos Blockchain-Based Digital Dollar

    2016-06-13--Canada Finance Minister Morneau Speech

  • Ottawa seeks ways to cool hot GTA, Vancouver housing
  • Justin Trudeau, Bill Morneau keeping eyes on Brexit fallout

    2016-06-15--Canada Manufacturing Sales MoM APR

  • Apple Reports First Quarterly Sales Drop Since 2003 as iPhone ...
  • Making weight: A lightweight rower's struggle with the scale

    2016-06-16--Canada BoC Gov Poloz Speech

  • Canadian economy making progress, Governor Poloz says
  • CANADA ECONOMICS: RBC Awaits Speech By BoC's Poloz ...

    2016-06-16--Canada BoC Gov Poloz Press Conference

  • USD/CAD Canadian Dollar Higher as Oil Price Rises
  • USD/CAD Loonie Lower on Signs of Oil Glut

    2016-06-16--Canada Foreign Securities Purchases APR

  • Oil amp; Gas Stock Roundup: Crude Down on Brexit Vote, Court ...
  • Form NSAR-B BLACKROCK MUNI INTERMEDI For: Apr 30

    2016-06-16--Canada Foreign Securities Purchases by Canadians APR

  • Foreigners ramp up purchases of Canadian securities
  • Form NSAR-B BLACKROCK MUNI INTERMEDI For: Apr 30

    2016-06-17--Canada Core Inflation Rate YoY MAY

  • The weak jobs report in May raised serious red flags for the Fed
  • Canada's inflation rate eases as gas prices jump, food costs fall

    2016-06-20--Canada Wholesale Sales MoM APR

  • Canada's Economy Booming Again, But With One Thing Missing: Jobs
  • USD/CAD Advance at Risk on Sticky Canada Consumer Price Index ...

    2016-06-22--Canada Retail Sales MoM APR

  • Slowing Car Sales Point to Gathering Softness in Canada Economy
  • Apple Reports First Quarterly Sales Drop Since 2003 as iPhone ...

    2016-06-22--Canada Retail Sales YoY APR

  • The Forex Week Ahead
  • Word on the Street: Market Expectations from UTX's 2Q16 Results

    2016-06-22--Canada Retail Sales Ex Autos MoM APR

  • Mid-Day Report: Final Countdown to EU Referendum, Markets Steady
  • Market briefing: US markets ended lower yesterday, with investors ...

    2016-07-08--Canada Employment Change JUN

  • Why forecasting Canada's jobs report is so difficult
  • For Hockey Night In Canada employees, the party is over

    2016-07-08--Canada Full Time Employment Chg JUN

  • Dow closes down more than 200 points; retail plunges, posts worst ...
  • Asian Morning Briefing: US Stocks Recover as Energy Shares ...

    2016-07-08--Canada Participation Rate JUN

  • Voting in a British Referendum, When Not Even British
  • Week In Review: LatAm Macro Headlines

    2016-07-08--Canada Part Time Employment Chg JUN

  • Oil Hits Two-Week Low As Canada Fires Shift Direction
  • Asian Morning Briefing: Stocks Climb as Oil Prices Bounce Back

    2016-07-08--Canada Unemployment Rate JUN

  • Canada's jobless rate drops, but wildfires, low oil weigh on Alberta
  • Silver Prices Turn Lower for Only Second Time Since Brexit ...

    2016-07-04--Canada RBC Manufacturing PMI JUN

  • RBC Canadian June manufacturing PMI 51.8 vs 52.1 prior
  • Canadian manufacturers' outlook dim in June, RBC survey says

    2016-07-04--Canada BoC Business Outlook Survey

  • Bank of Canada Business Outlook Survey: Exports Continue to ...
  • USD/CAD – Canadian Dollar Higher, BoC Business Survey Next

    2016-07-06--Canada Balance of Trade MAY

  • Canada May international merchandise trade balance -3.28$B vs ...
  • Canada: International Merchandise Trade, May 2016

    2016-07-06--Canada Exports MAY

  • Canada posts near-record trade deficit in May
  • Canadian trade deficit hits record level

    2016-07-06--Canada Imports MAY

  • Canada posts near-record trade deficit in May
  • Chinese imports push up US trade deficit in May

    2016-07-07--Canada Building Permits MoM MAY

  • Mid-Day Report: Dollar Steady after Positive Job Data
  • The Real Reason You Didn't Score That Sweet Apartment

    2016-07-07--Canada Ivey PMI s.a JUN

  • March 2016 Canadian Ivey PMI 50.1 vs 55.0 exp SA
  • Grid Sight Index (GSI)

  • Russell Investments' 2016 Global Market Outlook-Q3 update ...
  • Forget Brexit, Donald Trump would be 'very bad for Canada's ...

    Companies Reported last month include:

    BlackBerry Ltd

    Tech

  • BlackBerry Won't Go Much Lower, Despite Disappointing Results
  • BRIEF-Blackberry says Q1 non-GAAP net income $0.00 per share

    Royal Bank of Canada

    fins

  • Should Enbridge Inc. or Royal Bank of Canada Be in Your RRSP?
  • Should Enbridge Inc. or Royal Bank of Canada Be in Your RRSP?

    BCE Inc

    telcos

  • Bell and MTS to expand broadband service in Northern Manitoba
  • 3 Buy-Rated Dividend Stocks Taking The Lead: BCE, NS, PBA

    Magna International Inc

    Cons

  • Analysts and Technical Insights on Magna International Inc. (NYSE ...
  • News from around the valley, July 7-13, 2016

    First Quantum Minerals Ltd

    mater

  • First Quantum Minerals Reports First Quarter 2016 Results
  • What Is a Safer Turnaround Play: Teck Resources Ltd. or First ...

    TransCanada Corp

    energ

  • Earnings Preview: TransCanada (NYSE:TRP) moved down 14 times ...
  • Halliburton Company, Williams Companies Inc: Tale of Broken ...

    Enbridge Inc

    energ

  • Should Enbridge Inc. or Royal Bank of Canada Be in Your RRSP?
  • Should Enbridge Inc. or Royal Bank of Canada Be in Your RRSP?

    Best Stocks Last Month and News

    Silver Wheaton Corp (SLW:CN)+25.45%

    Colonial Coal International Corp (CAD:CN)+22.49%

    Yamana Gold Inc (YRI:CN)+22.46%

    Barrick Gold Corp (ABX:CN)+20.81%

    Franco-Nevada Corp (FNV:CN)+14.68%

    Baytex Energy Corp (BTE:CN)+13.56%

    Agnico Eagle Mines Ltd (AEM:CN)+12.26%

    Goldcorp Inc (G:CN)+10.18%

    TransCanada Corp (TRP:CN)+9.54%

  • Shadowing Energy Income Partners For Domestic Infrastructure ...

    MEG Energy Corp (MEG:CN)+9.19%

    Worst Stocks Last Month and News

    Valeant Pharmaceuticals International Inc (VRX:CN) -20.46%

  • PEG Ratio (5 yr expected):

    Magna International Inc (MG:CN) -16.39%

    Manulife Financial Corp (MFC:CN) -11.62%

  • İşte dünyanın en değerli markaları

    BlackBerry Ltd (BB:CN) -10.28%

    Cenovus Energy Inc (CVE:CN) -10.26%

    CGI Group Inc (GIB/A:CN) -10.04%

    Cameco Corp (CCO:CN) -9.28%

  • Going Nuclear With Exchange-Traded Funds

    Sun Life Financial Inc (SLF:CN) -8.48%

    Crescent Point Energy Corp (CPG:CN) -7.09%

    IGM Financial Inc (IGM:CN) -6.61%

    Valuations




    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Barrick Gold CorpABX:CNCanada Precious Metal Mining26992.980.34%-2.980.00-0.00120.99113.05
    Yamana Gold IncYRI:CNCanada Precious Metal Mining5290.440.36%148.022.992.0253.29103.272.62
    Agnico Eagle Mines LtdAEM:CNCanada Precious Metal Mining12296.540.58%195.276.003.07113.2697.9611.08
    Franco-Nevada CorpFNV:CNCanada Precious Metal Mining13659.651.13%140.0026.2218.73158.2069.4998.47
    Silver Wheaton CorpSLW:CNCanada Precious Metal Mining11258.970.79%52.0514.0727.0341.1263.9272.08
    Colonial Coal International CorpCAD:CNCanada Coal Operations9.71---0.000.0061.4453.50
    Open Text CorpOTC:CNCanada Application Software7111.011.58%24.783.8815.6639.1551.3873.47
    Metro IncMRU:CNCanada Food & Drug Stores8471.031.20%20.800.894.2824.9636.9937.48
    Saputo IncSAP:CNCanada Packaged Food11747.281.40%24.641.395.6434.5032.3139.86
    SNC-Lavalin Group IncSNC:CNCanada Infrastructure Construction6389.721.93%26.640.883.3051.4229.4049.54
    Eldorado Gold CorpELD:CNCanada Precious Metal Mining3526.96--4.470.000.0026.5218.58
    Canadian Natural Resources LtdCNQ:CNCanada Exploration & Production34521.332.30%-3.620.00-0.0024.6816.74
    TransCanada CorpTRP:CNCanada Midstream - Oil & Gas37326.243.73%24.073.8516.0089.7823.1096.86
    BCE IncBCE:CNCanada Telecom Carriers41303.714.43%17.892.4413.6479.2520.3187.37
    Onex CorpOCX:CNCanada Private Equity6383.550.34%-0.310.00-0.0016.488.54
    Bank of MontrealBMO:CNCanada Diversified Banks40943.454.18%11.652.1818.7148.7015.3763.19
    George Weston LtdWN:CNCanada Food & Drug Stores11044.511.57%27.210.301.1042.7211.7820.45
    Canadian Utilities LtdCU:CNCanada Utility Networks8159.383.27%20.673.2915.9267.5911.3566.24
    CGI Group IncGIB/A:CNCanada IT Services12972.31-16.621.629.75-0.0010.45-4.37
    Loblaw Cos LtdL:CNCanada Food & Drug Stores21814.391.50%28.730.622.1643.1010.2318.81
    Canadian Imperial Bank of Commerce/CanadaCM:CNCanada Banks29514.004.99%10.212.1821.3550.9510.0764.22
    Restaurant Brands International IncQSR:CNCanada Restaurants19209.291.43%41.282.175.2659.038.5623.62
    Toronto-Dominion Bank/TheTD:CNCanada Banks78412.404.01%11.912.6021.8347.767.6557.39
    Suncor Energy IncSU:CNCanada Integrated Oils46772.353.21%81.841.912.33262.717.08182.34
    Canadian National Railway CoCNR:CNCanada Rail Freight45737.871.97%16.794.8628.9533.085.0742.36
    Intact Financial CorpIFC:CNCanada P&C Insurance9444.572.55%18.661.497.9847.584.5133.47
    Royal Bank of CanadaRY:CNCanada Diversified Banks88096.894.22%11.422.5822.5948.194.4255.84
    ARC Resources LtdARX:CNCanada Exploration & Production5931.502.73%-6.020.00-0.004.34-3.60
    Pembina Pipeline CorpPPL:CNCanada Midstream - Oil & Gas11906.194.87%40.163.117.74195.583.25158.47
    Inter Pipeline LtdIPL:CNCanada Midstream - Oil & Gas7203.585.72%22.625.5024.31129.392.88126.02
    Bank of Nova Scotia/TheBNS:CNCanada Diversified Banks58697.834.55%10.952.3221.1949.822.5354.65
    TELUS CorpT:CNCanada Telecom Carriers19737.724.28%17.022.0612.1072.852.4062.39
    Sun Life Financial IncSLF:CNCanada Life Insurance19429.143.94%10.581.2111.4441.691.1835.78
    Canadian Oil Sands LtdCOS:CNCanada Exploration & Production0.002.01%--0.00-0.00-0.02-7.96
    National Bank of CanadaNA:CNCanada Banks11498.114.98%10.511.9618.6552.34-1.6050.94
    Finning International IncFTT:CNCanada Industrial Distribution & Rental2824.193.35%17.780.603.3759.56-2.1635.05
    Great-West Lifeco IncGWO:CNCanada Life Insurance25642.984.13%12.340.998.0250.96-5.2033.50
    Cenovus Energy IncCVE:CNCanada Integrated Oils11389.341.09%-1.180.00-0.00-6.16-14.11
    IGM Financial IncIGM:CNCanada Investment Management6496.956.42%11.263.0026.6472.29-7.1272.61
    Gildan Activewear IncGIL:CNCanada Apparel, Footwear & Acc Design6949.011.05%19.712.8414.4120.70-8.80-1.35
    Agrium IncAGU:CNCanada Agricultural Chemicals12298.853.93%12.410.866.9348.77-9.5825.76
    Tourmaline Oil CorpTOU:CNCanada Exploration & Production6048.75-554.135.811.05-0.00-10.84-571.87
    Power Corp of CanadaPOW:CNCanada Life Insurance9790.944.89%9.160.333.6044.79-11.2920.01
    Imperial Oil LtdIMO:CNCanada Integrated Oils27004.551.45%68.171.442.1198.85-12.6212.22
    Power Financial CorpPWF:CNCanada Life Insurance16071.905.23%9.910.585.8551.83-12.7027.13
    CI Financial CorpCIX:CNCanada Investment Management5618.305.17%13.813.7827.3771.40-15.0961.92
    Vermilion Energy IncVET:CNCanada Exploration & Production3719.826.20%-4.920.00-0.00-15.49-23.44
    Canadian Pacific Railway LtdCP:CNCanada Rail Freight19789.401.18%16.834.0123.8319.86-16.122.79
    BlackBerry LtdBB:CNCanada Communications Equipment3405.85--1.800.000.00-16.32-24.26
    Crescent Point Energy CorpCPG:CNCanada Exploration & Production7925.631.79%47.173.327.0484.43-17.3319.03
    Cameco CorpCCO:CNCanada Base Metals4171.102.93%19.862.0810.4758.19-21.2919.57
    Manulife Financial CorpMFC:CNCanada Life Insurance25656.874.34%13.420.866.4158.24-23.4519.84
    Encana CorpECA:CNCanada Exploration & Production6693.670.75%-1.630.00-0.00-24.39-32.34
    TransAlta CorpTA:CNCanada Power Generation1498.882.36%-0.840.00-0.00-25.70-33.65
    Husky Energy IncHSE:CNCanada Integrated Oils12061.25--1.020.000.00-33.27-41.22
    First Quantum Minerals LtdFM:CNCanada Base Metals4924.010.22%-1.730.00-0.00-37.10-45.04
    Magna International IncMG:CNCanada Auto Parts13369.592.98%7.350.415.5821.90-37.54-25.35
    Potash Corp of Saskatchewan IncPOT:CNCanada Agricultural Chemicals13533.906.19%12.852.3017.9079.54-41.2135.44
    Baytex Energy CorpBTE:CNCanada Exploration & Production1208.05-20.161.658.18-0.00-57.82-77.74
    MEG Energy CorpMEG:CNCanada Exploration & Production1150.97--0.820.000.00-65.24-73.19
    Enbridge IncENB:CNCanada Midstream - Oil & Gas39203.123.88%25.121.355.3797.47-2.9266.86
    Pacific Exploration and Production CorpPRE:CNColombia Exploration & Production0.00---0.000.00-0.02-7.96
    Fortis Inc/CanadaFTS:CNSt John's, NL A1B 3T2 Canada Utility Networks9725.373.37%20.431.889.2068.8522.9572.63
    Thomson Reuters CorpTRI:CNUnited States Information Services30367.973.34%25.452.6110.2685.0011.0372.89
    Valeant Pharmaceuticals International IncVRX:CNUnited States Specialty Pharma7848.49-298.550.740.25-0.00-88.21-394.46
    Goldcorp IncG:CNVancouver, BC V6C 2X8 Canada Precious Metal Mining16371.980.41%-3.800.00-0.0023.0815.14

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications61041.45.410.3794505.877.243.34.43.217.618.2-3.313.113.60.514.5-0.7
    Consumer Discretionary39527.93.56.6509681.039.727.01.92.026.016.458.57.09.62.6-10.13.1
    Consumer Staples53077.24.77.5584775.338.238.01.41.826.228.2-7.13.010.37.319.712.3
    Energy260076.123.112.6973390.454.140.83.04.436.112.4191.17.19.72.62.4-21.0
    Financials431697.938.432.82543065.749.126.04.34.011.68.831.818.120.42.32.43.2
    Health Care7848.50.72.3178295.80.020.31.031.70.217.016.8-88.213.6
    Industrials74741.26.65.8453138.232.123.41.81.817.718.6-4.824.411.4-13.01.322.9
    Materials124325.411.07.6590209.427.127.51.63.124.118.133.113.59.8-3.750.0-0.1
    Technology53857.14.810.8833615.653.129.23.02.323.118.922.210.919.88.914.52.8
    Utilities19383.61.73.7288099.063.032.23.23.120.512.465.312.313.41.114.3-5.6

    Top 5 ML Canada Basket Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Suncor Energy IncSU:CNCanada Integrated Oils46772.353.21%81.841.912.33262.717.08182.34
    Pembina Pipeline CorpPPL:CNCanada Midstream - Oil & Gas11906.194.87%40.163.117.74195.583.25158.47
    Inter Pipeline LtdIPL:CNCanada Midstream - Oil & Gas7203.585.72%22.625.5024.31129.392.88126.02
    Barrick Gold CorpABX:CNCanada Precious Metal Mining26992.980.34%-2.980.00-0.00120.99113.05
    Franco-Nevada CorpFNV:CNCanada Precious Metal Mining13659.651.13%140.0026.2218.73158.2069.4998.47

    Top 5 ML Canada Basket Short Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Tourmaline Oil CorpTOU:CNCanada Exploration & Production6048.75-554.135.811.05-0.00-10.84-796.02
    Valeant Pharmaceuticals International IncVRX:CNUnited States Specialty Pharma7848.49-298.550.740.25-0.00-88.21-618.61
    Baytex Energy CorpBTE:CNCanada Exploration & Production1208.05-20.161.658.18-0.00-57.82-301.89
    MEG Energy CorpMEG:CNCanada Exploration & Production1150.97--0.820.000.00-65.24-297.34
    First Quantum Minerals LtdFM:CNCanada Base Metals4924.010.22%-1.730.00-0.00-37.10-269.20
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    Top 10 Canada Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    CENTRAL FUND OF CANADA LTD (CEF/U)187.54119.0
    CENTRAL FUND OF CANADA LTD (XXCEFXX)151.24119.0
    SPROTT PHYSICAL SILVER TRUST (PHS/U)77.51042.0
    RENAISSANCE GLOBAL INFRASTRUCTURE FUND - A (RENGINFA)26.11465.0
    BLACKROCK INDEX SELECTION FUND - NORTH AMERICA INDEX FUND - DISTRIBUTING (BGINAID)17.72492.0
    PICTON MAHONEY TACTICAL INCOME FUND (PMB-U)16.779.6
    DESJARDINS ENHANCED BOND FUND - A (DESENHBD)8.13095.2
    PRECIOUS METALS & MINING TRUST (MMP-U)5.544.9
    CANADIAN BANC CORP (BK)4.673.9
    FAIRCOURT GOLD INCOME CORP (FGX)2.922.1

    Top 10 Canada Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    ISHARES MSCI NORTH AMERICA UCITS ETF (INAA)-25.91257.0
    UNITED CANADIAN FIXED INCOME POOL - W (OPTSCFI)-17.21567.5
    RBC HIGH YIELD BOND FUND - D (RBCMHYBD)-10.71408.7
    LIFE & BANC SPLIT CORP (LBS)-9.5111.7
    SPROTT PHYSICAL GOLD TRUST (PHYS)-9.21847.0
    DYNAMIC INVESTMENT GRADE FLOATING RATE FUND - A (DYNIGFRA)-8.7157.7
    DYNAMIC EUROPEAN VALUE FUND - F (DYNEURF)-8.569.3
    FIDELITY OVERSEAS FUND - A$(US) (FIDOVESU)-7.063.3
    ATLANTIS ASIAN FUND - GBP (ATLARSI)-1.237.5
    RENAISSANCE US EQUITY FUND - A (ATLARSI)-1.237.5



    Bond Picks


    View Canada Econ Page






    • Brazil Performance Snapshot

    Index 1 month Ch%YTD Ch%1 year Ch%
    IBOV:IND 4.1617.65-5.58
    MSCI Brazil 19.6149.87-8.76
    MSCI GEM 3.945.68-13.68
    MSCI BRIC 2.873.09-18.47
    MSCI World -0.370.43-5.30

    Indexes YTD performance %

    MSCI IndexYTDChange
    PERU48.6
    BRAZIL44.6
    BRAZIL ADR43.8
    EM LATIN AMERICA24.9
    EFM LATIN AMERICA & CARIBBEAN INDEX24.6
    COLOMBIA24.1
    ANDEAN22.2
    RUSSIA ADR/GDR21.1
    EM LATIN AMERICA WITH BRAZIL ADR20.1
    RUSSIA19.7
    THAILAND17.9
    NEW ZEALAND16.9
    EM ex ASIA16.4
    SOUTH AFRICA15.1
    CANADA14.5
    CHILE14.2
    INDONESIA13.7
    PHILIPPINES12.8
    EFM AFRICA12.0
    EMERGING + FRONTIER MARKETS WORKFORCE11.8
    EM EASTERN EUROPE11.5
    TURKEY10.5
    EM EMEA10.2
    SOUTH EAST ASIA9.0
    HUNGARY8.9
    EM EUROPE8.6
    TAIWAN8.5
    EFM EUROPE + CIS (E+C)8.3
    EFM EMEA8.3
    EM LATIN AMERICA ex BRAZIL7.9
    EMERGING MARKETS HORIZON7.0
    EM EUROPE & MIDDLE EAST6.7
    EM 506.2
    EM (EMERGING MARKETS)5.7
    EFM (EMERGING + FRONTIER MARKETS)5.5
    MALAYSIA5.4
    EM WITH BRAZIL + INDIA + RUSSIA DR5.2
    KOREA5.2
    EM WITH BRAZIL ADR4.8
    UNITED ARAB EMIRATES4.8
    NORWAY3.9
    SINGAPORE3.8
    INDIA DOMESTIC3.3
    NORTH AMERICA3.2
    BRIC3.1
    USA2.7
    EM FAR EAST1.7
    MEXICO1.7
    EM ASIA1.6
    EFM ASIA1.6
    ASIA APEX 501.4
    UNITED ARAB EMIRATES DOMESTIC1.2
    BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
    INDIA1.0
    BRIC WITH BRAZIL ADR0.9
    AUSTRALIA0.9
    PACIFIC ex JAPAN0.7
    JORDAN + EGYPT + MOROCCO0.6
    World0.4
    KOKUSAI INDEX (WORLD ex JP)0.4
    G7 INDEX0.4
    WORLD WITH USA GROSS-0.2
    BELGIUM-0.7
    DENMARK-1.2
    PORTUGAL-1.4
    HONG KONG-1.7
    EFM EUROPE + CIS (E+C) ex RU-1.8
    NETHERLANDS-3.1
    EM (EMERGING MARKETS)+CHINA A-3.5
    PACIFIC-3.8
    EAFE + CANADA-4.1
    EFM CEEC ex RU-4.1
    NORDIC COUNTRIES-4.4
    EM EASTERN EUROPE ex RUSSIA-4.5
    CZECH REPUBLIC-4.8
    EUROPE ex EMU-4.9
    CHINA 50-4.9
    QATAR-5.0
    FAR EAST-5.1
    UNITED KINGDOM-5.1
    SWITZERLAND-5.1
    FRANCE-5.2
    EASEA INDEX (EAFE ex JAPAN)-5.5
    EAFE ex ISRAEL-5.5
    EAFE-5.6
    EAFE ex UK-5.7
    JAPAN-6.0
    NIHONKABU-6.2
    PAN-EURO-6.3
    EUROPE-6.4
    CHINA-6.5
    EUROPE & MIDDLE EAST-6.5
    EGYPT-6.5
    SWEDEN-6.6
    EUROPE ex SWITZERLAND-6.7
    EU-6.8
    EUROPE ex UK-7.0
    POLAND-7.3
    QATAR DOMESTIC-7.8
    EMU ex GERMANY-7.9
    EMU-8.2
    EURO-8.5
    FINLAND-8.7
    GERMANY-8.9
    EFM AFRICA ex ZA-10.1
    AUSTRIA-11.5
    SPAIN-11.5
    CHINA A 50-12.9
    IRELAND-13.4
    ISRAEL-14.2
    ITALY-22.4
    GREECE-25.8

    Indexes 1m performance %

    IndexLastChnge
    Jakarta Stock Exchange Composite Index5016.1094.39
    Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
    Karachi Stock Exchange KSE100 Index37786.573.87
    FTSE 100 Index6360.061.19
    Shanghai Stock Exchange Composite Index2930.5490.48
    S&P BSE SENSEX Index26740.390.35
    Russian Trading System Cash Index930.150.16
    Hong Kong Hang Seng Index20791.68-0.28
    S&P/TSX Composite Index14036.74-0.35
    Korea Stock Exchange KOSPI Index1966.52-0.85
    Dow Jones Industrial Average17694.68-1.00
    Russian Depositary Index USD1069.58-1.15
    Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
    S&P 500 Index2070.77-1.35
    MICEX Index1888.15-2.62
    Borsa Istanbul 100 Index76711.97-2.87
    Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
    FTSE/JSE Africa All Share Index51890.42-4.74
    Deutsche Boerse AG German Stock Index DAX9612.27-7.18
    Nikkei 22515694.81-8.94

    Currencies 1m performance %

    TickerLastChnge
    USDNGN:CUR282.541.92
    USDGEL:CUR2.3559.92
    USDGBP:CUR0.74599.18
    USDARS:CUR14.9687.27
    USDTND:CUR2.21975.51
    USDAZN:CUR1.54794.24
    USDCRC:CUR546.632.08
    USDSEK:CUR8.46931.59
    USDKZT:CUR338.991.01
    USDHUF:CUR285.181.00
    USDCNH:CUR6.65470.97
    USDCNY:CUR 6.64330.88
    USDINR:CUR 67.6850.70
    USDRON:CUR4.07620.70
    USDPLN:CUR3.97860.60
    USDHRK:CUR6.76770.60
    USDEGP:CUR8.87960.55
    USDPHP:CUR46.9930.47
    USDCZK:CUR24.40320.47
    USDRSD:CUR110.98810.34
    USDNOK:CUR 8.39660.32
    USDKES:CUR101.250.32
    USDTTD:CUR6.65150.30
    USDMXN:CUR18.52910.30
    USDMAD:CUR9.79210.22
    USDBAM:CUR1.76060.20
    USDDKK:CUR6.69580.17
    USDLBP:CUR1513.750.15
    USDBGN:CUR1.76060.15
    USDLTL:CUR3.10820.14
    USDNLG:CUR1.98380.14
    USDEUR:CUR 0.90020.13
    USDLVL:CUR0.63260.13
    USDBHD:CUR0.377320.08
    USDQAR:CUR3.64130.03
    USDSAR:CUR3.75060.01
    USDOMR:CUR0.3850.00
    USDAED:CUR3.67290.00
    USDVEF:CUR9.98750.00
    USDPAB:CUR10.00
    USDBSD:CUR10.00
    USDBBD:CUR20.00
    USDBDT:CUR78.35-0.04
    USDHKD:CUR7.7586-0.12
    USDJOD:CUR0.7082-0.16
    USDPKR:CUR104.68-0.17
    USDKWD:CUR0.30185-0.17
    USDVND:CUR22300-0.42
    USDMDL:CUR19.82-0.43
    USDCAD:CUR 1.2946-0.80
    USDTWD:CUR32.275-1.03
    USDUAH:CUR24.8864-1.15
    USDCHF:CUR0.9799-1.30
    USDLKR:CUR146.25-1.32
    USDISK:CUR123.5-1.32
    USDTHB:CUR35.207-1.48
    USDTRL:CUR 2894310-2.04
    USDTRY:CUR2.8943-2.04
    USDPEN:CUR3.2887-2.30
    USDSGD:CUR1.3491-2.33
    USDMYR:CUR4.02-2.70
    USDAUD:CUR 1.3433-2.86
    USDIDR:CUR13179-3.24
    USDRUB:CUR 63.8022-3.28
    USDKRW:CUR 1152.54-3.30
    USDCLP:CUR661.95-4.15
    USDCOP:CUR2915.6-5.00
    USDNZD:CUR1.4091-5.37
    USDZAR:CUR 14.8227-6.12
    USDJPY:CUR 102.77-7.59
    USDBRL:CUR 3.2206-9.78

    Bond rates 1m performance %

    countryyield1wk1d1m1y
    GREECE 7.97%0.94 -41 +91 -663
    PORTUGAL 3.05%0.05 -6 +4 +1
    ITALY 1.37%0.01 -3 +2 -102
    INDIA 7.44%-0.02 -1 -3 -45
    JAPAN » -0.23%-0.11 +1 -12 --
    MEXICO 5.88%-0.22 -7 -20 -17
    SPAIN 1.25%-0.22 -6 -23 -109
    CANADA 1.12%-0.23 +5 -22 -62
    NEW ZEALAND 2.33%-0.26 +4 -22 --
    SWITZERLAND -0.62%-0.27 -2 -25 -67
    NETHERLANDS 0.10%-0.28 -2 -24 -96
    AUSTRALIA » 2.00%-0.29 +2 -25 --
    GERMANY » -0.13%-0.30 -1 -26 -92
    FRANCE 0.21%-0.30 -3 -25 -102
    HONG KONG 0.93%-0.30 +0 -- --
    SINGAPORE 1.92%-0.30 +6 -- --
    SOUTH KOREA 1.46%-0.34 -1 -32 --
    UNITED STATES » 1.51%-0.36 +5 -34 -81
    UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
    BRAZIL 12.12%-0.75 +10 -91 -53

    Commodities 1m performance %

    nameunitsPriceChng
    NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
    SugarUSD/LB.21.0119.92
    CoffeeUSD/LB.144.4519.08
    SilverUSD/T OZ.18.3313.92
    PalladiumUSD/T OZ.592.368.72
    GOLDUSD/T OZ.1316.158.62
    Copper$/t4838.003.05
    PlatinumUSD/T OZ.1004.332.78
    HogsUSD/LB.83.332.78
    COCOAUSD/MT3034.000.97
    OIL BrentUSD/BBL.49.990.73
    RiceUSD/CWT10.930.28
    CattleUSD/LB.114.13-1.98

    Best Stocks 1m in USD %ch

    NameChngePctCountry
    Oi SA (OIBR4:BZ)57.96Brazil
    Fibria Celulose SA (FIBR3:BZ)42.03Brazil
    Embraer SA (EMBR3:BZ)38.17Brazil
    Klabin SA (KLBN4:BZ)20.47Brazil
    Suzano Papel e Celulose SA (SUZB5:BZ)17.89Brazil
    Braskem SA (BRKM5:BZ)10.96Brazil
    Eneva SA (ENEV3:BZ)10.04Rio De Janeiro, RJ 22210-903 Brazil
    Sul America SA (SULA11:BZ)8.30Brazil
    BRF SA (BRFS3:BZ)5.30Brazil
    Cia Hering (HGTX3:BZ)-1.22Brazil

    Worst Stocks 1m in USD %

    NameChngePctCountry
    Cia de Saneamento de Minas Gerais-COPASA (CSMG3:BZ)-55.81Brazil
    Cia Siderurgica Nacional SA (CSNA3:BZ)-51.57Brazil
    Raia Drogasil SA (RADL3:BZ)-49.11Brazil
    EcoRodovias Infraestrutura e Logistica SA (ECOR3:BZ)-43.99Brazil
    Centrais Eletricas Brasileiras SA (ELET3:BZ)-43.47Brazil
    Bradespar SA (BRAP4:BZ)-43.30Brazil
    BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros (BVMF3:BZ)-41.36Brazil
    Cia de Saneamento Basico do Estado de Sao Paulo (SBSP3:BZ)-41.09Brazil
    Banco do Estado do Rio Grande do Sul SA (BRSR6:BZ)-40.26Brazil
    Cosan SA Industria e Comercio (CSAN3:BZ)-38.45Brazil

    Best Stocks YTD in USD %

    NameChngePctCountry
    AES Tiete SA (GETI4:BZ)0.00Brazil
    Ambev SA (ABEV3:BZ)0.00Brazil
    Arteris SA (ARTR3:BZ)0.00Brazil
    Banco Bradesco SA (BBDC3:BZ)0.00Brazil
    Banco Bradesco SA (BBDC4:BZ)0.00Brazil
    Banco do Brasil SA (BBAS3:BZ)0.00Brazil
    Banco do Estado do Rio Grande do Sul SA (BRSR6:BZ)0.00Brazil
    Banco Santander Brasil SA (SANB11:BZ)0.00Brazil
    BB Seguridade Participacoes SA (BBSE3:BZ)0.00
    BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros (BVMF3:BZ)0.00Brazil

    Worst Stocks YTD in USD %

    NameChngePctCountry
    AES Tiete SA (GETI4:BZ)0.00Brazil
    Ambev SA (ABEV3:BZ)0.00Brazil
    Arteris SA (ARTR3:BZ)0.00Brazil
    Banco Bradesco SA (BBDC3:BZ)0.00Brazil
    Banco Bradesco SA (BBDC4:BZ)0.00Brazil
    Banco do Brasil SA (BBAS3:BZ)0.00Brazil
    Banco do Estado do Rio Grande do Sul SA (BRSR6:BZ)0.00Brazil
    Banco Santander Brasil SA (SANB11:BZ)0.00Brazil
    BB Seguridade Participacoes SA (BBSE3:BZ)0.00
    BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros (BVMF3:BZ)0.00Brazil

    Sector Performance 1m in USD %

    sectorChngePct
    Financials-30.72
    Energy-30.18
    Consumer Discretionary-25.67
    Utilities-24.47
    Technology-17.76
    Health Care-17.65
    Consumer Staples-17.17
    Materials-13.53
    Industrials-12.33
    Communications1.23

    Sector Performance YTD in USD %

    sectorChngePct
    Financials0.00
    Materials0.00
    Utilities0.00
    Communications0.00
    Technology0.00
    Consumer Discretionary0.00
    Consumer Staples0.00
    Health Care0.00
    Energy0.00
    Industrials0.00

    Table of Contents


    Turkey Stance
         Turkey Valuations
         Turkey Top Stock Picks
         Turkey Top Bond Picks
         Turkey Last Month Performance Review

    South Africa Stance
         South Africa Valuations
         South Africa Top Stock Picks
         South Africa Top Bond Picks
         South Africa Last Month Performance Review

    Russia Stance
         Russia Valuations
         Russia Top Stock Picks
         Russia Top Bond Picks
         Russia Last Month Performance Review

    Korea Stance
         Korea Valuations
         Korea Top Stock Picks
         Korea Top Bond Picks
         Korea Last Month Performance Review

    India Stance
         India Valuations
         India Top Stock Picks
         India Top Bond Picks
         India Last Month Performance Review

    China Stance
         China Valuations
         China Top Stock Picks
         China Top Bond Picks
         China Last Month Performance Review

    Canada Stance
         Canada Valuations
         Canada Top Stock Picks
         Canada Top Bond Picks
         Canada Last Month Performance Review

    Brazil Stance
         Brazil Valuations
         Brazil Top Stock Picks
         Brazil Top Bond Picks
         Brazil Last Month Performance Review

    Australia Stance
         Australia Valuations
         Australia Top Stock Picks
         Australia Top Bond Picks
         Australia Last Month Performance Review


















    Brazil



    Our Stance

    Brazil market has been one of the biggest winners on the emerging markets this year we expect some profit taking as the rally in Brazil stocks has been mostly driven by political risk removal while economic story for Brazil remains lackluster and highly dependent on commodities markets which are lagging again.




    Brazil Last Month Review

    Brazil IBOV:IND Index gained 4.16% last month. To finish the month at 51001.91

    MSCI Brazil Index gained 19.61% last month. Its overall up 49.87% since the beginning of the year.

    At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

    BRL last month gained 9.78% against US dollar. To finish the month at 3.2206per USD.

    Sovereign eurobonds are trading with average yield of 4.99% and tightened by -0.87% last month.

    Corporate eurobonds are trading with average yield of 9.21% and tightened by -0.86% last month.

    Local currency bonds are trading with average yield of 12.53% and tightened by -0.10% last month.

    While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

    Best stocks last month in Brazil included Oi SA (OIBR4:BZ) +57.96%, Fibria Celulose SA (FIBR3:BZ) +42.03%, Embraer SA (EMBR3:BZ) +38.17%, Klabin SA (KLBN4:BZ) +20.47%, Suzano Papel e Celulose SA (SUZB5:BZ) +17.89%, Braskem SA (BRKM5:BZ) +10.96%, Eneva SA (ENEV3:BZ) +10.04%, Sul America SA (SULA11:BZ) +8.30%, BRF SA (BRFS3:BZ) +5.30%, Cia Hering (HGTX3:BZ)-1.22%, .

    Worst stocks last month included Cia de Saneamento de Minas Gerais-COPASA (CSMG3:BZ) -55.81%, Cia Siderurgica Nacional SA (CSNA3:BZ) -51.57%, Raia Drogasil SA (RADL3:BZ) -49.11%, EcoRodovias Infraestrutura e Logistica SA (ECOR3:BZ) -43.99%, Centrais Eletricas Brasileiras SA (ELET3:BZ) -43.47%, Bradespar SA (BRAP4:BZ) -43.30%, BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros (BVMF3:BZ) -41.36%, Cia de Saneamento Basico do Estado de Sao Paulo (SBSP3:BZ) -41.09%, Banco do Estado do Rio Grande do Sul SA (BRSR6:BZ) -40.26%, Cosan SA Industria e Comercio (CSAN3:BZ) -38.45%,

    Best stocks YTD included AES Tiete SA (GETI4:BZ)0.00%, Ambev SA (ABEV3:BZ)0.00%, Arteris SA (ARTR3:BZ)0.00%, Banco Bradesco SA (BBDC3:BZ)0.00%, Banco Bradesco SA (BBDC4:BZ)0.00%, Banco do Brasil SA (BBAS3:BZ)0.00%, Banco do Estado do Rio Grande do Sul SA (BRSR6:BZ)0.00%, Banco Santander Brasil SA (SANB11:BZ)0.00%, BB Seguridade Participacoes SA (BBSE3:BZ)0.00%, BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros (BVMF3:BZ)0.00%,

    While worst stocks YTD included AES Tiete SA (GETI4:BZ) 0.00%, Ambev SA (ABEV3:BZ) 0.00%, Arteris SA (ARTR3:BZ) 0.00%, Banco Bradesco SA (BBDC3:BZ) 0.00%, Banco Bradesco SA (BBDC4:BZ) 0.00%, Banco do Brasil SA (BBAS3:BZ) 0.00%, Banco do Estado do Rio Grande do Sul SA (BRSR6:BZ) 0.00%, Banco Santander Brasil SA (SANB11:BZ) 0.00%, BB Seguridade Participacoes SA (BBSE3:BZ) 0.00%, BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros (BVMF3:BZ) 0.00%,

    In terms of sector performance last month

    the best sectors included Communications +1.23%, Industrials-12.33%, Materials-13.53%,

    While worst sector performance last month showed Financials -30.72%, Energy -30.18%, Consumer Discretionary -25.67%,

    YTD the best sectors remain Financials0.00%, Materials0.00%, Utilities0.00%,

    While the worst sectors are Financials 0.00%, Materials 0.00%, Utilities 0.00%,

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    Some Political news headlines for Brazil include:

  • Dilma Rousseff, Facing Impeachment in Brazil, Has Alienated Many ...
  • Brazil's Vice President, Unpopular and Under Scrutiny, Prepares to ...
  • Brazil Defense Minister Resigns as Comments Rattle Rousseff
  • Sunil Chhetri spearheads list in ISL player auction
  • Ecological Differences in Weight, Length, and Weight for Length of ...
  • Latin America power roundup
  • The Problem with Impeaching Brazil's President: All in Line of ...

    While some economic events and news headlines include:

    2016-06-03--BRazil Markit Services PMI MAY

  • Global Economy Sees Weakest Quarter Since 2012
  • Europe Roundup Sterling drops below $1.2800 level, European ...

    2016-06-01--BRazil GDP Growth Rate QoQ Q1

  • Latin America's Uneven Q1 2016 GDP Growth
  • Hugo Boss: Suffering From External Factors

    2016-06-01--BRazil GDP Growth Rate YoY Q1

  • Welcome To Hell
  • Latin America's Uneven Q1 2016 GDP Growth

    2016-06-01--BRazil Markit Manufacturing PMI MAY

  • Global Economy Sees Weakest Quarter Since 2012
  • Europe Roundup Sterling drops below $1.2800 level, European ...

    2016-06-01--BRazil Balance of Trade MAY

  • 1936 – Spain's Revolutionary Promise
  • Thomas Meaney

    2016-06-02--BRazil Industrial Production YoY APR

  • Latin America's Morning Espresso: July 4
  • Zero growth of Brazilian industry in May

    2016-06-02--BRazil Industrial Production MoM APR

  • Today's Market View Including: Kenmare Resources, Gryphon ...
  • See Jeff Daniels Revive 'Newsroom' Anchor to Talk Trump, Hillary

    2016-06-02--BRazil Factory Utilization APR

  • 10 things you need to know before the opening bell
  • Restore Sovereignty to US Trade Policy

    2016-06-03--BRazil Markit Composite PMI MAY

  • Europe Roundup Sterling drops below $1.2800 level, European ...
  • Technical Analysis #C-SOYB : 2016-07-06

    2016-06-06--BRazil Car Production MoM MAY

  • Harold Tivol's story, in his own words
  • Week in review: Here are some stories you may have missed last ...

    2016-06-06--BRazil New Car Registrations MoM MAY

  • Venezuela's Maduro: Brazil impeachment is a 'coup' that was 'made ...
  • 'Difficult' day for mother who gave birth to baby with Zika-related birth ...

    2016-06-08--BRazil Inflation Rate YoY MAY

  • Earnings to grow at 15% for 3-4 quarters: Robert Parker, Credit Suisse
  • Latin America's Morning Espresso: July 5

    2016-06-08--BRazil Inflation Rate MoM MAY

  • Zero growth of Brazilian industry in May
  • Week In Review: LatAm Macro Headlines

    2016-06-08--BRazil Interest Rate Decision

  • Tough choices ahead for Brazil
  • A History of Nonviolence

    2016-06-14--BRazil Retail Sales YoY APR

  • What Drove Constellation Brands' Fiscal 1Q17 Margin Growth?
  • Week In Review: LatAm Macro Headlines

    2016-06-14--BRazil Retail Sales MoM APR

  • Mahindra Gusto 125 launched in 8 more states
  • Khloe Kardashian and NBA star Brandon Jennings enjoy Malibu date

    2016-06-17--BRazil IBC-BR Economic Activity APR

  • Brazil's economic activity up 0.03 pct in April - c.bank
  • Brazil's economy up in April for 1st time since 2014, below forecasts

    2016-06-17--BRazil Business Confidence JUN

  • Business Confidence Rises for Brazil, Latin American Markets Up
  • Australian Election Result Unclear as Gamble on Early Polls Backfires

    2016-06-24--BRazil Current Account MAY

  • Brazil's current account continued to improve in May
  • Brazil's Current Account Surplus Rises

    2016-06-24--BRazil Foreign Direct Investment MAY

  • Brazil's Economy Goes From Apocalyptic To Just Plain Bad
  • The Fourth of July, Brought to You by Belgium, Brazil and China

    2016-06-20--BRazil Federal Tax Revenues MAY

  • Cargill to Sell U.S. Seed Stores as Focus Narrows Amid Rout
  • New Jersey Student Loan Program Seen as 'State-Sanctioned Loan ...

    2016-06-20--BRazil Net Payrolls MAY

  • Fitch Affirms Banco Alfa de Investimento SA at 'AA(bra)'; Outlook ...
  • Brexit Stock Drop Not Over for Norway Manager of $10 Billion

    2016-06-21--BRazil IPCA mid-month CPI MoM JUN 2016

  • 2016-06-21--BRazil IPCA mid-month CPI YoY JUN 2016

  • 2016-07-05--BRazil Markit Composite PMI JUN

  • Europe Roundup Sterling drops below $1.2800 level, European ...
  • Technical Analysis #C-SOYB : 2016-07-06

    2016-07-05--BRazil Markit Services PMI JUN

  • June quarter saw global economic growth at lowest since 2012
  • Europe Roundup Sterling drops below $1.2800 level, European ...

    2016-07-06--BRazil Car Production MoM JUN

  • Roadies for Guns N' Roses, OutKast, Drive-By Truckers and other ...
  • Magazine|The Marriage That Led to the Russian Track Team's ...

    2016-07-06--BRazil New Car Registrations MoM JUN

  • 17th Annual 30 Under 30 to honor youth June 22
  • Who Is Ready for Baseball's Robot Umpires?

    2016-07-06--BRazil Consumer Confidence JUN

  • Brazil's consumer confidence rises in June to highest in a year
  • Business Confidence Rises for Brazil, Latin American Markets Up

    2016-07-08--BRazil Inflation Rate YoY JUN

  • Latin America's Morning Espresso: July 5
  • Week In Review: LatAm Macro Headlines

    2016-07-08--BRazil Inflation Rate MoM JUN

  • Zero growth of Brazilian industry in May
  • Week In Review: LatAm Macro Headlines

  • Brazil's currency and equities rally on nascent economic improvement
  • Does Brazil's Valuation Support Mark Mobius's Statement?

  • S&P Affirms Brazil Rating as Fiscal Measures to Boost Confidence
  • Brazil's economy ekes out 0.3% growth

  • GUEST COLUMN: Latin America's challenges highlighted in Berlin ...
  • Why the Young Brazilian Population is Key to Brazil's Success

  • Brazil exports more soybean and maize to Arabs
  • Brazilian Iron Ore Exports Surge in February

  • Brazil surprising primary budget gap shows need of more cuts
  • Rousseff Says Brazil Won't Intervene in Currency as Real Tumbles

  • UPDATE 1-Brazil's Levy says confident of solution for states' debt

    Companies Reported last month include:

    (C) Itau Unibanco Holding SA

    fins

  • Financial Stocks Buzzer: Itau Unibanco Holding SA (ADR) (NYSE ...
  • Investors Watch List: Aviat Networks, (NASDAQ:AVNW), Itau ...

    (C) Itau Unibanco Holding SA

    fins

  • Financial Stocks Buzzer: Itau Unibanco Holding SA (ADR) (NYSE ...
  • Investors Watch List: Aviat Networks, (NASDAQ:AVNW), Itau ...

    (C) Petroleo Brasileiro SA

    energ

  • ADRs End Down; Oil and Gold Companies Trade Actively
  • Energy Markets Daily: Chesapeake Energy Corporation, Royal ...

    Best Stocks Last Month and News

    Oi SA (OIBR4:BZ)+57.96%

    Fibria Celulose SA (FIBR3:BZ)+42.03%

    Embraer SA (EMBR3:BZ)+38.17%

    Klabin SA (KLBN4:BZ)+20.47%

    Suzano Papel e Celulose SA (SUZB5:BZ)+17.89%

    Braskem SA (BRKM5:BZ)+10.96%

    Eneva SA (ENEV3:BZ)+10.04%

    Sul America SA (SULA11:BZ)+8.30%

    BRF SA (BRFS3:BZ)+5.30%

    Cia Hering (HGTX3:BZ)-1.22%

  • Brazilian Stock Movers: CTEEP, Hering, OSX, Localiza and Taesa

    Worst Stocks Last Month and News

    Cia de Saneamento de Minas Gerais-COPASA (CSMG3:BZ) -55.81%

    Cia Siderurgica Nacional SA (CSNA3:BZ) -51.57%

    Raia Drogasil SA (RADL3:BZ) -49.11%

    EcoRodovias Infraestrutura e Logistica SA (ECOR3:BZ) -43.99%

    Centrais Eletricas Brasileiras SA (ELET3:BZ) -43.47%

    Bradespar SA (BRAP4:BZ) -43.30%

    BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros (BVMF3:BZ) -41.36%

    Cia de Saneamento Basico do Estado de Sao Paulo (SBSP3:BZ) -41.09%

    Banco do Estado do Rio Grande do Sul SA (BRSR6:BZ) -40.26%

    Cosan SA Industria e Comercio (CSAN3:BZ) -38.45%

    Valuations




    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    BB Seguridade Participacoes SABBSE3:BZInsurance Services & Other16606.616.06%13.1119.4699.9979.45-12.71194.96
    Centrais Eletricas Brasileiras SAELET3:BZBrazil Power Generation5749.55--0.580.000.00116.62109.52
    Cia de Saneamento de Minas Gerais-COPASACSMG3:BZBrazil Utility Networks1111.71-57.370.901.57-0.00108.2945.38
    Centrais Eletricas Brasileiras SAELET6:BZBrazil Power Generation5753.15--0.800.000.00107.37100.27
    Cia Siderurgica Nacional SACSNA3:BZBrazil Steel Producers3862.46-431.970.840.19-0.0091.02-347.85
    Cia de Saneamento Basico do Estado de Sao PauloSBSP3:BZBrazil Utility Networks5968.77-23.471.636.95-0.0077.0853.46
    Braskem SABRKM5:BZBrazil Basic & Diversified Chemicals4206.316.38%4.280.327.4827.3163.6187.01
    BM&FBovespa SA - Bolsa de Valores Mercadorias e FuturosBVMF3:BZBrazil Security & Cmdty Exchanges9810.81-14.2214.2699.99-0.0062.27141.23
    Cosan SA Industria e ComercioCSAN3:BZBrazil Refining & Marketing4149.254.21%14.361.6211.2860.4649.5899.85
    MRV Engenharia e Participacoes SAMRVE3:BZBrazil Homebuilders1519.223.11%8.821.0712.1327.4348.4972.13
    Raia Drogasil SARADL3:BZBrazil Food & Drug Stores6121.62-56.472.153.81-0.0038.78-20.99
    Cia HeringHGTX3:BZBrazil Department Stores747.453.27%9.111.5717.2329.7932.2363.04
    Multiplan Empreendimentos Imobiliarios SAMULT3:BZBrazil Real Estate Owners & Developers3467.87-31.5210.6033.63-0.0028.4623.47
    Duratex SADTEX3:BZBrazil Wood Building Materials1846.85-70.691.552.19-0.0028.04-47.55
    M Dias Branco SAMDIA3:BZBrazil Packaged Food3530.03-20.432.4712.09-0.0027.6112.17
    CETIP SA - Mercados OrganizadosCTIP3:BZBrazil Security & Cmdty Exchanges3418.620.83%22.028.3738.0118.2827.4254.59
    EDP - Energias do Brasil SAENBR3:BZBrazil Utility Networks2531.234.30%4.510.6614.6319.3925.7248.13
    Banco Santander Brasil SASANB11:BZBrazil Banks21385.592.29%--0.00-0.0023.2016.10
    Odontoprev SAODPV3:BZBrazil Managed Care2137.840.61%31.875.5417.3819.4421.6519.51
    Kroton Educacional SAKROT3:BZBrazil Educational Services6626.430.91%13.524.1830.9212.3021.2643.86
    BR Malls Participacoes SABRML3:BZBrazil Real Estate Owners & Developers2364.86-29.015.7519.82-0.0017.471.18
    CPFL Energia SACPFE3:BZBrazil Utility Networks6755.561.83%23.421.185.0442.8617.4634.84
    Localiza Rent a Car SARENT3:BZBrazil Automotive Retailers2205.710.01%17.801.8210.220.1816.031.53
    Marcopolo SAPOMO4:BZBrazil Auto Parts650.75-37.430.932.48-0.0015.02-27.03
    Tractebel Energia SATBLE3:BZBrazil Utility Networks7552.551.67%16.743.8723.1227.9614.5341.76
    Lojas Americanas SALAME4:BZBrazil Department Stores6295.200.09%116.171.341.1510.4612.74-98.92
    Hypermarcas SAHYPE3:BZBrazil Specialty Pharma4632.730.86%39.673.719.3534.1212.058.75
    Banco Bradesco SABBDC3:BZBrazil Banks44103.600.58%8.810.677.605.1111.718.52
    CCR SACCRO3:BZBrazil Infrastructure Construction8451.351.78%30.493.2010.5054.2711.1838.36
    Transmissora Alianca de Energia Eletrica SATAEE11:BZBrazil Investment Companies2063.961.36%7.604.5660.0010.3410.4766.10
    Banco do Estado do Rio Grande do Sul SABRSR6:BZBrazil Banks1116.52-3.950.287.09-0.008.444.48
    Ultrapar Participacoes SAUGPA3:BZBrazil Refining & Marketing11537.542.32%24.910.481.9357.797.0934.80
    EcoRodovias Infraestrutura e Logistica SAECOR3:BZBrazil Infrastructure Construction1355.564.60%32.861.524.63151.166.03121.85
    Lojas Renner SALREN3:BZBrazil Specialty Apparel Stores4720.120.76%27.382.529.2020.815.491.02
    Cyrela Brazil Realty SA Empreendimentos e ParticipacoesCYRE3:BZBrazil Real Estate Owners & Developers1190.692.81%9.210.919.8825.885.0024.45
    Banco Bradesco SABBDC4:BZBrazil Banks44020.120.67%8.340.647.675.594.902.72
    Telefonica Brasil SAVIVT4:BZBrazil Telecom Carriers20958.861.79%17.721.729.7131.724.8421.45
    Sul America SASULA11:BZBrazil Managed Care1552.256.34%6.860.273.9443.492.8536.32
    Lojas Americanas SALAME3:BZBrazil Department Stores6295.200.13%80.490.931.1610.462.56-73.41
    Multiplus SAMPLU3:BZBrazil Advertising & Marketing1726.137.96%11.332.5122.1590.192.1396.04
    Ambev SAABEV3:BZBrazil Beverages89783.180.68%24.276.3126.0016.501.5412.68
    Itausa - Investimentos Itau SAITSA4:BZBrazil Investment Companies16813.810.78%6.3811.9199.994.980.71178.88
    Natura Cosmeticos SANATU3:BZBrazil Household Products3503.001.82%35.841.464.0765.230.2726.63
    AES Tiete SAGETI4:BZBrazil Power Generation0.00---0.000.00-0.06-7.16
    Souza Cruz SACRUZ3:BZBrazil Tobacco0.00---0.000.00-0.06-7.16
    Arteris SAARTR3:BZBrazil Infrastructure Construction1035.441.93%32.490.912.8062.71-0.0625.86
    Bradespar SABRAP4:BZBrazil Investment Companies938.74---0.000.00-1.83-8.93
    Vale SAVALE3:BZBrazil Steel Raw Material Suppliers24619.22--0.980.000.00-2.01-9.11
    Estacio Participacoes SAESTC3:BZBrazil Educational Services1526.432.34%10.491.6816.0224.55-4.0118.96
    Qualicorp SAQUAL3:BZBrazil Professional Services1482.884.42%12.922.7621.3657.11-4.6053.85
    Cielo SACIEL3:BZBrazil Consumer Finance22980.181.05%21.986.6830.3923.08-7.6316.75
    BR Properties SABRPR3:BZBrazil Real Estate Owners & Developers681.6826.41%-3.440.00-0.00-8.26-15.36
    Vale SAVALE5:BZBrazil Steel Raw Material Suppliers24619.22--0.780.000.00-8.64-15.74
    Gerdau SAGGBR4:BZBrazil Steel Producers2878.081.30%-0.240.00-0.00-10.37-17.47
    Petroleo Brasileiro SAPETR3:BZBrazil Integrated Oils42108.71--0.480.000.00-10.58-17.69
    Cia Paranaense de EnergiaCPLE6:BZBrazil Utility Networks2019.521.66%9.160.606.5515.21-11.22-5.72
    TOTVS SATOTS3:BZBrazil Application Software1530.031.31%28.952.548.7737.92-17.04-6.39
    Petroleo Brasileiro SAPETR4:BZBrazil Integrated Oils42108.71--0.390.000.00-18.29-25.39
    Banco do Brasil SABBAS3:BZBrazil Banks14722.820.33%4.390.225.011.45-21.13-26.16
    Embraer SAEMBR3:BZBrazil Aircraft & Parts3949.25-15.750.583.68-0.00-22.30-41.47
    Suzano Papel e Celulose SASUZB5:BZBrazil Paper3912.012.41%13.331.198.9332.13-23.76-3.14
    BRF SABRFS3:BZBrazil Packaged Food11896.700.25%16.161.227.554.04-26.75-38.43
    Cia Energetica de Minas GeraisCMIG4:BZBrazil Utility Networks2902.104.49%9.550.485.0342.88-27.353.91
    WEG SAWEGE3:BZBrazil Industrial Machinery6496.100.60%18.122.1511.8710.87-29.46-31.94
    TIM Participacoes SATIMP3:BZBrazil Telecom Carriers4951.052.84%8.741.0011.4424.82-30.09-9.67
    Klabin SAKLBN4:BZBrazil Paper5753.152.76%23.862.249.3965.85-31.3412.94
    Cia Brasileira de DistribuicaoPCAR4:BZBrazil Food & Drug Stores3728.830.13%62,224.270.180.298.06-33.04-93.79
    Porto Seguro SAPSSA3:BZBrazil Life Insurance2514.410.55%8.280.455.434.55-34.37-39.76
    JBS SAJBSS3:BZBrazil Packaged Food8303.304.18%62.510.160.26261.29-34.44157.49
    Cia Energetica de Sao PauloCESP6:BZBrazil Power Generation1136.940.70%-1.520.00-0.00-36.35-43.45
    Fibria Celulose SAFIBR3:BZBrazil Paper3825.832.36%6.751.2218.0715.93-39.18-19.03
    Usinas Siderurgicas de Minas Gerais SAUSIM5:BZBrazil Steel Producers1848.35--0.220.000.00-46.71-53.82
    Metalurgica Gerdau SAGOAU4:BZBrazil Steel Producers572.073.86%-0.020.00-0.00-58.47-65.58
    Oi SAOIBR4:BZBrazil Telecom Carriers566.67--0.040.000.00-67.47-74.58
    Itau Unibanco Holding SAITUB4:BZBrazil Diversified Banks51608.710.58%7.451.0413.964.323.116.84
    Eneva SAENEV3:BZRio De Janeiro, RJ 22210-903 Brazil Power Generation548.05-0.350.1234.29-0.00-34.18-7.35

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications28202.74.010.3794505.833.443.32.43.215.718.2-13.710.813.62.8-2.9-0.7
    Consumer Discretionary32069.44.66.6509681.015.527.00.92.017.316.45.511.79.6-2.112.33.1
    Consumer Staples126866.718.27.5584775.315.138.00.91.828.928.22.519.810.3-9.5-2.012.3
    Energy99904.214.312.6973390.49.240.82.84.422.112.478.24.49.75.3-9.3-21.0
    Financials259809.637.232.82543065.710.726.01.34.010.58.819.338.920.4-18.55.73.2
    Health Care8322.81.22.3178295.832.120.31.81.031.531.7-0.610.417.06.612.813.6
    Industrials21287.73.05.8453138.229.823.41.61.824.218.630.18.911.42.5-8.322.9
    Materials77943.511.27.6590209.48.727.53.23.113.218.1-27.18.39.81.5-2.1-0.1
    Technology1530.00.210.8833615.637.929.21.32.329.018.953.48.819.811.0-17.02.8
    Utilities42029.16.03.7288099.016.832.22.33.118.612.450.011.413.42.047.6-5.6

    Top 5 Brazil Index Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    BB Seguridade Participacoes SABBSE3:BZInsurance Services & Other16606.616.06%13.1119.4699.9979.45-12.71194.96
    Itausa - Investimentos Itau SAITSA4:BZBrazil Investment Companies16813.810.78%6.3811.9199.994.980.71178.88
    JBS SAJBSS3:BZBrazil Packaged Food8303.304.18%62.510.160.26261.29-34.44157.49
    BM&FBovespa SA - Bolsa de Valores Mercadorias e FuturosBVMF3:BZBrazil Security & Cmdty Exchanges9810.81-14.2214.2699.99-0.0062.27141.23
    EcoRodovias Infraestrutura e Logistica SAECOR3:BZBrazil Infrastructure Construction1355.564.60%32.861.524.63151.166.03121.85

    Top 5 Brazil Index Short Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Cia Siderurgica Nacional SACSNA3:BZBrazil Steel Producers3862.46-431.970.840.19-0.0091.02-226.76
    Lojas Americanas SALAME4:BZBrazil Department Stores6295.200.09%116.171.341.1510.4612.7422.17
    Cia Brasileira de DistribuicaoPCAR4:BZBrazil Food & Drug Stores3728.830.13%62,224.270.180.298.06-33.0427.30
    Oi SAOIBR4:BZBrazil Telecom Carriers566.67--0.040.000.00-67.4746.52
    Lojas Americanas SALAME3:BZBrazil Department Stores6295.200.13%80.490.931.1610.462.5647.68
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    Weekly Fund flow into Brazil focused funds showed (Previous Week)-1193.9 USD mn of outflow.


    Top 10 Brazil Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    FI TESOURO RENDA FIXA (NSCXTES)683.55506.4
    HSBC FIC FI MULTIMERCADO LONGO PRAZO DIVERSIFICACAO (HSBCALT)141.026.7
    HSBC YATIRIM B TIPI ALTIN FONU (HSBCALT)141.026.7
    ABERDEEN GLOBAL - BRAZIL BOND FUND - A2 ACC (ABBRZAA)39.71450.0
    BB INSTITUCIONAL FEDERAL FIC FI RENDA FIXA LONGO PRAZO (BBINSTF)8.3110.0
    HSBC FONDO GLOBAL 1 SA DE CV SIRV (HSBRICA)3.5376.2
    HSBC GLOBAL INVESTMENT FUNDS - BRIC EQUITY - A (HSBRICA)3.5376.2
    HANDELSBANKEN FUNDS - BRAZIL - A-EUR (HANBRAE)3.1687.0
    HSBC GLOBAL INVESTMENT FUNDS - BRAZIL BOND - AD (HSBBADU)0.974.8
    BRADESCO FUNDO DE INVESTIMENTO EM COTAS DE FUNDO DE INVESTIMENTO RF IMA B (BRARFIB)0.411.1

    Top 10 Brazil Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    VANGUARD FTSE EMERGING MARKETS ETF (VWO)-2920.535009.0
    FONDO MUTUO SECURITY FIXED INCOME BRL - A (SFIBRLA)-702.670099.0
    SANTANDER FIC FI RENDA FIXA I CREDITO PRIVADO (SANBRFI)-484.7291.7
    SANTANDER SICAV - SANTANDER BRAZILIAN SHORT DURATION - A (SANBRFI)-484.7291.7
    FI CAIXA BRASIL SOBERANO RENDA FIXA (FCAIXBR)-31.32776.7
    FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON BRIC FUND - A(ACC) EUR H1 (TEMACEH)-28.3779.1
    SCHRODER INTERNATIONAL SELECTION FUND - BRIC - A ACC SFR (SCHRBAC)-22.6839.7
    FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON BRIC FUND (F7RH)-17.6779.1
    SCHRODER INTERNATIONAL SELECTION FUND - BRIC (ZJPE)-16.0923.5
    HSBC GLOBAL INVESTMENT FUNDS - BRAZIL EQUITY - X (HSBZIUX)-11.5282.2



    Bond Picks

    Souvereign Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    BRAZIL (FEDERATIVE REPUBLIC OF) 4589.255.00USDJan 27, 204513.715.77-0.9010.50
  • What the Titanic Reveals About Class and Life Expectancy
    • BRAZIL FEDERATIVE REPUBLIC OF (GO 2598.254.25USDJan 7, 20257.014.50-1.006.75
  • What you need to know about Zika
    • BRAZIL (FEDERATIVE REPUBLIC OF) 21105.34.88USDJan 22, 20214.063.59-0.984.10
  • Timeline: Zika's origin and global spread
    • BRAZIL (FEDERATIVE REPUBLIC OF) 19109.45.88USDJan 15, 20192.342.04-0.561.20
  • Timeline: Zika's origin and global spread
    • BRAZIL (FEDERATIVE REPUBLIC OF) 4197.005.63USDJan 7, 204112.575.86-0.9210.75
  • Timeline: Zika's origin and global spread

    • Corporate Eurobonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    PETROBRAS GLOBAL FINANCE BV 2191.595.38USDJan 27, 20213.977.58-0.883.29
  • Big Movers: AT&T, Inc. (NYSE:T), Sprint Corporation (NYSE:S ...
    • JBS INVESTMENTS GMBH RegS 24102.97.25USDApr 3, 20244.776.750.00-0.10
  • Halliburton: Top lawyer Obla grilled
    • PETROBRAS GLOBAL FINANCE BV 21103.28.38USDMay 23, 20214.077.58-1.074.30
  • Big Movers: AT&T, Inc. (NYSE:T), Sprint Corporation (NYSE:S ...
    • ITAU UNIBANCO HOLDING SA MTN RegS 2399.495.13USDMay 13, 20235.825.19-0.502.86
  • Exklusiv: Ranking der teuersten 300 Unternehmen der Welt
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  • How Coke Is Kicking Pepsi's Can (Fortune, 1996)

    • Local Currency Bonds


    BondPriceCouponCurrencyMaturityDurationYield 1m Yield Ch pp 1m Price Ch. Abs
    BRAZIL FEDERATIVE REPUBLIC OF (GO 17292.20.00BRLJan 1, 20170.5113.680.0734.80
  • What you need to know about Zika
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    • BRAZIL FEDERATIVE REPUBLIC OF 25280.110.00BRLJan 1, 20255.2212.08-0.9042.80
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    • BRAZIL FEDERATIVE REPUBLIC OF (GO 23284.410.00BRLJan 1, 20234.3912.14-0.7340.00
  • What you need to know about Zika

    • View Brazil Econ Page






    • Australia Performance Snapshot

    Index 1 month Ch%YTD Ch%1 year Ch%
    MSCI Australia 0.50
    MSCI GEM 3.945.68-13.68
    MSCI BRIC 2.873.09-18.47
    MSCI World -0.370.43-5.30

    Indexes YTD performance %

    MSCI IndexYTDChange
    PERU48.6
    BRAZIL44.6
    BRAZIL ADR43.8
    EM LATIN AMERICA24.9
    EFM LATIN AMERICA & CARIBBEAN INDEX24.6
    COLOMBIA24.1
    ANDEAN22.2
    RUSSIA ADR/GDR21.1
    EM LATIN AMERICA WITH BRAZIL ADR20.1
    RUSSIA19.7
    THAILAND17.9
    NEW ZEALAND16.9
    EM ex ASIA16.4
    SOUTH AFRICA15.1
    CANADA14.5
    CHILE14.2
    INDONESIA13.7
    PHILIPPINES12.8
    EFM AFRICA12.0
    EMERGING + FRONTIER MARKETS WORKFORCE11.8
    EM EASTERN EUROPE11.5
    TURKEY10.5
    EM EMEA10.2
    SOUTH EAST ASIA9.0
    HUNGARY8.9
    EM EUROPE8.6
    TAIWAN8.5
    EFM EUROPE + CIS (E+C)8.3
    EFM EMEA8.3
    EM LATIN AMERICA ex BRAZIL7.9
    EMERGING MARKETS HORIZON7.0
    EM EUROPE & MIDDLE EAST6.7
    EM 506.2
    EM (EMERGING MARKETS)5.7
    EFM (EMERGING + FRONTIER MARKETS)5.5
    MALAYSIA5.4
    EM WITH BRAZIL + INDIA + RUSSIA DR5.2
    KOREA5.2
    EM WITH BRAZIL ADR4.8
    UNITED ARAB EMIRATES4.8
    NORWAY3.9
    SINGAPORE3.8
    INDIA DOMESTIC3.3
    NORTH AMERICA3.2
    BRIC3.1
    USA2.7
    EM FAR EAST1.7
    MEXICO1.7
    EM ASIA1.6
    EFM ASIA1.6
    ASIA APEX 501.4
    UNITED ARAB EMIRATES DOMESTIC1.2
    BRIC WITH BRAZIL + INDIA + RUSSIA DR1.2
    INDIA1.0
    BRIC WITH BRAZIL ADR0.9
    AUSTRALIA0.9
    PACIFIC ex JAPAN0.7
    JORDAN + EGYPT + MOROCCO0.6
    World0.4
    KOKUSAI INDEX (WORLD ex JP)0.4
    G7 INDEX0.4
    WORLD WITH USA GROSS-0.2
    BELGIUM-0.7
    DENMARK-1.2
    PORTUGAL-1.4
    HONG KONG-1.7
    EFM EUROPE + CIS (E+C) ex RU-1.8
    NETHERLANDS-3.1
    EM (EMERGING MARKETS)+CHINA A-3.5
    PACIFIC-3.8
    EAFE + CANADA-4.1
    EFM CEEC ex RU-4.1
    NORDIC COUNTRIES-4.4
    EM EASTERN EUROPE ex RUSSIA-4.5
    CZECH REPUBLIC-4.8
    EUROPE ex EMU-4.9
    CHINA 50-4.9
    QATAR-5.0
    FAR EAST-5.1
    UNITED KINGDOM-5.1
    SWITZERLAND-5.1
    FRANCE-5.2
    EASEA INDEX (EAFE ex JAPAN)-5.5
    EAFE ex ISRAEL-5.5
    EAFE-5.6
    EAFE ex UK-5.7
    JAPAN-6.0
    NIHONKABU-6.2
    PAN-EURO-6.3
    EUROPE-6.4
    CHINA-6.5
    EUROPE & MIDDLE EAST-6.5
    EGYPT-6.5
    SWEDEN-6.6
    EUROPE ex SWITZERLAND-6.7
    EU-6.8
    EUROPE ex UK-7.0
    POLAND-7.3
    QATAR DOMESTIC-7.8
    EMU ex GERMANY-7.9
    EMU-8.2
    EURO-8.5
    FINLAND-8.7
    GERMANY-8.9
    EFM AFRICA ex ZA-10.1
    AUSTRIA-11.5
    SPAIN-11.5
    CHINA A 50-12.9
    IRELAND-13.4
    ISRAEL-14.2
    ITALY-22.4
    GREECE-25.8

    Indexes 1m performance %

    IndexLastChnge
    Jakarta Stock Exchange Composite Index5016.1094.39
    Ibovespa Brasil Sao Paulo Stock Exchange Index51001.914.16
    Karachi Stock Exchange KSE100 Index37786.573.87
    FTSE 100 Index6360.061.19
    Shanghai Stock Exchange Composite Index2930.5490.48
    S&P BSE SENSEX Index26740.390.35
    Russian Trading System Cash Index930.150.16
    Hong Kong Hang Seng Index20791.68-0.28
    S&P/TSX Composite Index14036.74-0.35
    Korea Stock Exchange KOSPI Index1966.52-0.85
    Dow Jones Industrial Average17694.68-1.00
    Russian Depositary Index USD1069.58-1.15
    Mexican Stock Exchange Mexican Bolsa IPC Index45466.37-1.20
    S&P 500 Index2070.77-1.35
    MICEX Index1888.15-2.62
    Borsa Istanbul 100 Index76711.97-2.87
    Warsaw Stock Exchange WIG Total Return Index44807.16-4.08
    FTSE/JSE Africa All Share Index51890.42-4.74
    Deutsche Boerse AG German Stock Index DAX9612.27-7.18
    Nikkei 22515694.81-8.94

    Currencies 1m performance %

    TickerLastChnge
    USDNGN:CUR282.541.92
    USDGEL:CUR2.3559.92
    USDGBP:CUR0.74599.18
    USDARS:CUR14.9687.27
    USDTND:CUR2.21975.51
    USDAZN:CUR1.54794.24
    USDCRC:CUR546.632.08
    USDSEK:CUR8.46931.59
    USDKZT:CUR338.991.01
    USDHUF:CUR285.181.00
    USDCNH:CUR6.65470.97
    USDCNY:CUR 6.64330.88
    USDINR:CUR 67.6850.70
    USDRON:CUR4.07620.70
    USDPLN:CUR3.97860.60
    USDHRK:CUR6.76770.60
    USDEGP:CUR8.87960.55
    USDPHP:CUR46.9930.47
    USDCZK:CUR24.40320.47
    USDRSD:CUR110.98810.34
    USDNOK:CUR 8.39660.32
    USDKES:CUR101.250.32
    USDTTD:CUR6.65150.30
    USDMXN:CUR18.52910.30
    USDMAD:CUR9.79210.22
    USDBAM:CUR1.76060.20
    USDDKK:CUR6.69580.17
    USDLBP:CUR1513.750.15
    USDBGN:CUR1.76060.15
    USDLTL:CUR3.10820.14
    USDNLG:CUR1.98380.14
    USDEUR:CUR 0.90020.13
    USDLVL:CUR0.63260.13
    USDBHD:CUR0.377320.08
    USDQAR:CUR3.64130.03
    USDSAR:CUR3.75060.01
    USDOMR:CUR0.3850.00
    USDAED:CUR3.67290.00
    USDVEF:CUR9.98750.00
    USDPAB:CUR10.00
    USDBSD:CUR10.00
    USDBBD:CUR20.00
    USDBDT:CUR78.35-0.04
    USDHKD:CUR7.7586-0.12
    USDJOD:CUR0.7082-0.16
    USDPKR:CUR104.68-0.17
    USDKWD:CUR0.30185-0.17
    USDVND:CUR22300-0.42
    USDMDL:CUR19.82-0.43
    USDCAD:CUR 1.2946-0.80
    USDTWD:CUR32.275-1.03
    USDUAH:CUR24.8864-1.15
    USDCHF:CUR0.9799-1.30
    USDLKR:CUR146.25-1.32
    USDISK:CUR123.5-1.32
    USDTHB:CUR35.207-1.48
    USDTRL:CUR 2894310-2.04
    USDTRY:CUR2.8943-2.04
    USDPEN:CUR3.2887-2.30
    USDSGD:CUR1.3491-2.33
    USDMYR:CUR4.02-2.70
    USDAUD:CUR 1.3433-2.86
    USDIDR:CUR13179-3.24
    USDRUB:CUR 63.8022-3.28
    USDKRW:CUR 1152.54-3.30
    USDCLP:CUR661.95-4.15
    USDCOP:CUR2915.6-5.00
    USDNZD:CUR1.4091-5.37
    USDZAR:CUR 14.8227-6.12
    USDJPY:CUR 102.77-7.59
    USDBRL:CUR 3.2206-9.78

    Bond rates 1m performance %

    countryyield1wk1d1m1y
    GREECE 7.97%0.94 -41 +91 -663
    PORTUGAL 3.05%0.05 -6 +4 +1
    ITALY 1.37%0.01 -3 +2 -102
    INDIA 7.44%-0.02 -1 -3 -45
    JAPAN » -0.23%-0.11 +1 -12 --
    MEXICO 5.88%-0.22 -7 -20 -17
    SPAIN 1.25%-0.22 -6 -23 -109
    CANADA 1.12%-0.23 +5 -22 -62
    NEW ZEALAND 2.33%-0.26 +4 -22 --
    SWITZERLAND -0.62%-0.27 -2 -25 -67
    NETHERLANDS 0.10%-0.28 -2 -24 -96
    AUSTRALIA » 2.00%-0.29 +2 -25 --
    GERMANY » -0.13%-0.30 -1 -26 -92
    FRANCE 0.21%-0.30 -3 -25 -102
    HONG KONG 0.93%-0.30 +0 -- --
    SINGAPORE 1.92%-0.30 +6 -- --
    SOUTH KOREA 1.46%-0.34 -1 -32 --
    UNITED STATES » 1.51%-0.36 +5 -34 -81
    UNITED KINGDOM » 0.95%-0.48 -1 -49 -113
    BRAZIL 12.12%-0.75 +10 -91 -53

    Commodities 1m performance %

    nameunitsPriceChng
    NATURAL GAS (NYMEX)USD/MMBTU2.8731.65
    SugarUSD/LB.21.0119.92
    CoffeeUSD/LB.144.4519.08
    SilverUSD/T OZ.18.3313.92
    PalladiumUSD/T OZ.592.368.72
    GOLDUSD/T OZ.1316.158.62
    Copper$/t4838.003.05
    PlatinumUSD/T OZ.1004.332.78
    HogsUSD/LB.83.332.78
    COCOAUSD/MT3034.000.97
    OIL BrentUSD/BBL.49.990.73
    RiceUSD/CWT10.930.28
    CattleUSD/LB.114.13-1.98

    Best Stocks 1m in USD %ch

    NameChngePctCountry
    Fortescue Metals Group Ltd (FMG:AU)21.76Australia
    Newcrest Mining Ltd (NCM:AU)21.11Australia
    APA Group (APA:AU)14.51Australia
    Scentre Group (SCG:AU)10.79
    Dexus Property Group (DXS:AU)9.90Australia
    Santos Ltd (STO:AU)9.18Australia
    Stockland (SGP:AU)9.04Australia
    Aurizon Holdings Ltd (AZJ:AU)8.94Australia
    AGL Energy Ltd (AGL:AU)7.34Australia
    Rio Tinto Ltd (RIO:AU)6.93United Kingdom

    Worst Stocks 1m in USD %

    NameChngePctCountry
    QBE Insurance Group Ltd (QBE:AU)-14.08Australia
    Computershare Ltd (CPU:AU)-12.33Australia
    Incitec Pivot Ltd (IPL:AU)-11.27Australia
    LendLease Group (LLC:AU)-9.08Australia
    Macquarie Group Ltd (MQG:AU)-8.13Australia
    National Australia Bank Ltd (NAB:AU)-6.15Australia
    Australia & New Zealand Banking Group Ltd (ANZ:AU)-5.72Docklands, VIC 3008 Australia
    Orica Ltd (ORI:AU)-5.25Australia
    Amcor Ltd/Australia (AMC:AU)-5.10Australia
    Westpac Banking Corp (WBC:AU)-4.42Australia

    Best Stocks YTD in USD %

    NameChngePctCountry
    Fortescue Metals Group Ltd (FMG:AU)113.81Australia
    Newcrest Mining Ltd (NCM:AU)105.89Australia
    Cochlear Ltd (COH:AU)31.64Australia
    Dexus Property Group (DXS:AU)31.15Australia
    Santos Ltd (STO:AU)29.61Australia
    Scentre Group (SCG:AU)28.25
    Sonic Healthcare Ltd (SHL:AU)26.39Australia
    James Hardie Industries PLC (JHX:AU)26.15Ireland
    Stockland (SGP:AU)24.49Australia
    Origin Energy Ltd (ORG:AU)22.43Australia

    Worst Stocks YTD in USD %

    NameChngePctCountry
    Incitec Pivot Ltd (IPL:AU)-23.28Australia
    Computershare Ltd (CPU:AU)-19.02Australia
    Orica Ltd (ORI:AU)-16.13Australia
    Macquarie Group Ltd (MQG:AU)-13.74Australia
    Bendigo & Adelaide Bank Ltd (BEN:AU)-13.68Australia
    QBE Insurance Group Ltd (QBE:AU)-13.06Australia
    Australia & New Zealand Banking Group Ltd (ANZ:AU)-10.93Docklands, VIC 3008 Australia
    LendLease Group (LLC:AU)-10.80Australia
    Woolworths Ltd (WOW:AU)-10.14Australia
    National Australia Bank Ltd (NAB:AU)-9.56Australia

    Sector Performance 1m in USD %

    sectorChngePct
    Consumer Staples-1.47
    Financials-0.07
    Health Care-0.01
    Consumer Discretionary1.72
    Industrials2.00
    Communications2.05
    Materials3.41
    Energy4.67
    Utilities7.85

    Sector Performance YTD in USD %

    sectorChngePct
    Consumer Staples-4.32
    Consumer Discretionary-2.60
    Financials4.53
    Communications6.08
    Industrials11.34
    Energy12.02
    Utilities18.32
    Health Care18.83
    Materials27.15

    Table of Contents


    Turkey Stance
         Turkey Valuations
         Turkey Top Stock Picks
         Turkey Top Bond Picks
         Turkey Last Month Performance Review

    South Africa Stance
         South Africa Valuations
         South Africa Top Stock Picks
         South Africa Top Bond Picks
         South Africa Last Month Performance Review

    Russia Stance
         Russia Valuations
         Russia Top Stock Picks
         Russia Top Bond Picks
         Russia Last Month Performance Review

    Korea Stance
         Korea Valuations
         Korea Top Stock Picks
         Korea Top Bond Picks
         Korea Last Month Performance Review

    India Stance
         India Valuations
         India Top Stock Picks
         India Top Bond Picks
         India Last Month Performance Review

    China Stance
         China Valuations
         China Top Stock Picks
         China Top Bond Picks
         China Last Month Performance Review

    Canada Stance
         Canada Valuations
         Canada Top Stock Picks
         Canada Top Bond Picks
         Canada Last Month Performance Review

    Brazil Stance
         Brazil Valuations
         Brazil Top Stock Picks
         Brazil Top Bond Picks
         Brazil Last Month Performance Review

    Australia Stance
         Australia Valuations
         Australia Top Stock Picks
         Australia Top Bond Picks
         Australia Last Month Performance Review


















    Australia



    Our Stance

    Australian markets barely remained positive this year and can tank now given that political still mate and possible correction in commodities prices.




    Australia Last Month Review

    MSCI Australia Index gained 0.50% last month. Its overall up % since the beginning of the year.

    At the same time MSCI Emerging Markets Index up 3.94% last month and is up 5.68% YTD.

    AUD last month gained 2.86% against US dollar. To finish the month at 1.3433per USD.

    While Brent oil price last month gained 0.73%. To finish the month at 49.99 $/bbl.

    Best stocks last month in Australia included Fortescue Metals Group Ltd (FMG:AU) +21.76%, Newcrest Mining Ltd (NCM:AU) +21.11%, APA Group (APA:AU) +14.51%, Scentre Group (SCG:AU) +10.79%, Dexus Property Group (DXS:AU) +9.90%, Santos Ltd (STO:AU) +9.18%, Stockland (SGP:AU) +9.04%, Aurizon Holdings Ltd (AZJ:AU) +8.94%, AGL Energy Ltd (AGL:AU) +7.34%, Rio Tinto Ltd (RIO:AU) +6.93%, .

    Worst stocks last month included QBE Insurance Group Ltd (QBE:AU) -14.08%, Computershare Ltd (CPU:AU) -12.33%, Incitec Pivot Ltd (IPL:AU) -11.27%, LendLease Group (LLC:AU) -9.08%, Macquarie Group Ltd (MQG:AU) -8.13%, National Australia Bank Ltd (NAB:AU) -6.15%, Australia & New Zealand Banking Group Ltd (ANZ:AU) -5.72%, Orica Ltd (ORI:AU) -5.25%, Amcor Ltd/Australia (AMC:AU) -5.10%, Westpac Banking Corp (WBC:AU) -4.42%,

    Best stocks YTD included Fortescue Metals Group Ltd (FMG:AU) +113.81%, Newcrest Mining Ltd (NCM:AU) +105.89%, Cochlear Ltd (COH:AU) +31.64%, Dexus Property Group (DXS:AU) +31.15%, Santos Ltd (STO:AU) +29.61%, Scentre Group (SCG:AU) +28.25%, Sonic Healthcare Ltd (SHL:AU) +26.39%, James Hardie Industries PLC (JHX:AU) +26.15%, Stockland (SGP:AU) +24.49%, Origin Energy Ltd (ORG:AU) +22.43%,

    While worst stocks YTD included Incitec Pivot Ltd (IPL:AU) -23.28%, Computershare Ltd (CPU:AU) -19.02%, Orica Ltd (ORI:AU) -16.13%, Macquarie Group Ltd (MQG:AU) -13.74%, Bendigo & Adelaide Bank Ltd (BEN:AU) -13.68%, QBE Insurance Group Ltd (QBE:AU) -13.06%, Australia & New Zealand Banking Group Ltd (ANZ:AU) -10.93%, LendLease Group (LLC:AU) -10.80%, Woolworths Ltd (WOW:AU) -10.14%, National Australia Bank Ltd (NAB:AU) -9.56%,

    In terms of sector performance last month

    the best sectors included Utilities +7.85%, Energy +4.67%, Materials +3.41%,

    While worst sector performance last month showed Consumer Staples -1.47%, Financials -0.07%, Health Care -0.01%,

    YTD the best sectors remain Materials +27.15%, Health Care +18.83%, Utilities +18.32%,

    While the worst sectors are Consumer Staples -4.32%, Consumer Discretionary -2.60%, Financials 4.53%,

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    Some Political news headlines for Australia include:

  • Anzac Day Honours Heroes Of WWI's Western Front
  • Federal election 2016: Malcolm Turnbull's key misjudgments
  • Major work finally starts on Kin Kora roundabout
  • How Taylor Swift, pop queen, keeps her critics in line
  • Rethinking Federal Grants Management: From Oversight to Insight
  • Australia's Turnbull Sets Stage for July 2 National Election
  • Natalia Strelchenko's husband John Martin jailed after strangling her ...

    While some economic events and news headlines include:

    2016-06-01--Australia AIG Manufacturing Index MAY

  • Aussie weaker despite upbeat construction survey as politics eyed
  • Asia Roundup Aussie declines after SP changes ratings outlook ...

    2016-06-01--Australia GDP Final Consumption QoQ Q1

  • UK growth slows to 0.4%; Greek debt crisis flares up – as it happened
  • European Open Briefing

    2016-06-01--Australia GDP Deflator QoQ Q1

  • Asia Roundup Antipodeans rebound as oil rallies, gold declines on ...
  • Yen Stays In Consolidation After GDP Revision

    2016-06-01--Australia GDP Growth Rate QoQ Q1

  • Today's Market View : ASA Resource Group, Aurasian Minerals and ...
  • Brexit unlikely to trigger a cash rate cut from the RBA this month

    2016-06-01--Australia GDP Growth Rate YoY Q1

  • Today's Market View : Amur Minerals, Asiamet Resources, Bacanora ...
  • Gold Price Forecast 2016: Where Prices Head from Here

    2016-06-01--Australia GDP Capital Expenditure QoQ Q1

  • Beaufort Securities Breakfast Alert: Jiasen International Holdings ...
  • Janet Yellen Sees Rate Hike Coming Soon

    2016-06-02--Australia Balance of Trade APR

  • AGL warns of $100m fall in gas profits
  • Kogan float opens flat as negative market sentiment weighs

    2016-06-02--Australia Exports MoM APR

  • Today's Market View : Amur Minerals, Asiamet Resources, Bacanora ...
  • Today's Market View Including: Aureus Mining, BHP Billiton, Kibo ...

    2016-06-02--Australia Imports MoM APR

  • Today's Market View Including: Aureus Mining, BHP Billiton, Kibo ...
  • Today's Market View Including: Kenmare Resources, Gryphon ...

    2016-06-02--Australia Retail Sales MoM APR

  • ASA Resource Group, Kefi Minerals, Solgold, Wolf Minerals
  • Mid-Day Report: Final Countdown to EU Referendum, Markets Steady

    2016-06-03--Australia AIG Services Index MAY

  • AUD/USD – Under Pressure as S&P Cuts Aussie Credit Rating
  • Aussie weaker despite upbeat construction survey as politics eyed

    2016-06-08--Australia Investment Lending for Homes APR

  • The Most Important Financial Terms Everyone Should Know
  • The contradiction in PM's economic plan

    2016-06-06--Australia TD-MI Inflation Gauge MoM

  • Scoreboard: Tech troubles

    2016-06-06--Australia ANZ Newspaper Job Ads MoM MAY

  • Federal election 2016: How Labor's Mediscare plot was hatched
  • Job ads slip 1.2% in Feb - ANZ

    2016-06-06--Australia ANZ Internet Job Ads MoM MAY

  • Job ads slip 1.2% in Feb - ANZ
  • 60 Minutes: Emails reveal program chiefs, Nine lawyer knew details ...

    2016-06-06--Australia ANZ Job Advertisements MoM MAY

  • Federal election 2016: How Labor's Mediscare plot was hatched
  • Job ads slip 1.2% in Feb - ANZ

    2016-06-06--Australia AIG Construction Index MAY

  • Australian AiG Performance of Construction Index Rebounds in June
  • Aussie weaker despite upbeat construction survey as politics eyed

    2016-06-07--Australia RBA Interest Rate Decision

  • Your 10-second guide to today's RBA rate decision
  • What impact will Brexit have on the RBA interest rate decision?

    2016-06-08--Australia Home Loans MoM APR

  • Australian Mother and 8 Others Face Charges in Lebanon Custody ...
  • Cool critters: Australia's echidnas shed light on fireproofing

    2016-06-16--Australia Part Time Employment Chg MAY

  • Pro-Trump Groups Drawing Up Big Plans For Cleveland
  • Keep me signed in

    2016-06-16--Australia RBA Bulletin

  • ASX 200 set to drop: 9 shares to watch
  • Poorest households claim biggest wealth gains, says RBA

    2016-06-16--Australia Unemployment Rate MAY

  • ABS unemployment rate remains steady at 5.7pc in May
  • Australia's Unemployment Rate Remains Unchanged At 5.7% In May

    2016-06-16--Australia Employment Change MAY

  • Australian Employment Increased 17900 In May, Unemployment At ...
  • NZD/USD – Kiwi Posts Strong Gains After Fed, US Job Data Shines

    2016-06-16--Australia Full Time Employment Chg MAY

  • Nasdaq falls 1%, closes at lowest since mid-March despite Apple gain
  • Memorial Day Weekend festivities, events and road closures

    2016-06-16--Australia Participation Rate MAY

  • The Last Nazi Hunter
  • Australian jobless rate holds steady in May

    2016-06-16--Australia New Motor Vehicle Sales YoY MAY

  • Beaufort Securities Breakfast Alert: UK car registrations reach record ...
  • Ford's future models and platforms

    2016-06-16--Australia New Motor Vehicle Sales MoM MAY

  • Morning Report APAC: Dovish Fed drives US stocks lower, Asia to ...
  • Apple Reports First Quarterly Sales Drop Since 2003 as iPhone ...

    2016-06-16--Australia RBA Lowe Speech

  • PHIL LOWE IS THE NEW RBA GOVERNOR
  • US Federal Reserve, Brexit continue to rattle markets

    2016-06-17--Australia Westpac Leading Index MoM MAY

  • Australia's Westpac Leading Index Advanced In May
  • Mid-Day Report: Final Countdown to EU Referendum, Markets Steady

    2016-06-14--Australia RBA Debelle Speech

  • Not even the Teflon-coated Australian dollar could escape the ...
  • Scoreboard: BoE booster shot

    2016-06-14--Australia Consumer Inflation Expectations JUN

  • Australia Consumer Inflation Expectations Rise in June: Melbourne ...
  • Global stocks, sterling lick wounds after Brexit bashing

    2016-06-14--Australia NAB Business Confidence MAY

  • NAB: Business conditions steady, confidence slips
  • AUD/USD – Aussie Edges Lower as Australian Business ...

    2016-06-15--Australia Westpac Consumer Confidence Change JUN

  • Euro US Dollar Exchange Rate Down on Weak Eurozone Data ...
  • Asian ETFs Record Losses as Negative Sentiment Prevails

    2016-06-15--Australia Westpac Consumer Confidence Index JUN

  • Westpac report shows consumer sentiment dips in June
  • Asia Pacific Market: Risk Aversion Stays as Focus Turns to FOMC ...

    2016-06-23--Australia RBA Ellis Speech

  • GBP to AUD Exchange Rate Forecast: RBA Speeches, EU ...
  • APRA eyes commercial property loan risks

    2016-06-20--Australia CB Leading Indicator APR

  • One wrist injury, 612 throws, zero competition -- Does Carson Wentz ...
  • AUD/USD – Aussie Gains Ground on Strong New Motor Vehicle Sales

    2016-06-21--Australia House Price Index QoQ Q1

  • Australian capital city home prices fall for first time since third-quarter ...
  • Asia Roundup Aussie declines as RBA stands pat, Brent falls below ...

    2016-06-21--Australia House Price Index YoY Q1

  • FTSE 100 rebounds and pound steadies as financial markets price ...
  • Today's Market View : Amur Minerals, Asiamet Resources, Bacanora ...

    2016-06-21--Australia RBA Meeting Minutes

  • Australian Dollar Rallies as RBA Minutes Reduce Rate Cut Bets
  • Asia Roundup Aussie rises on RBA meeting minutes, sterling gains ...

    2016-06-22--Australia Westpac Leading Index MoM MAY

  • Australia's Westpac Leading Index Advanced In May
  • Mid-Day Report: Final Countdown to EU Referendum, Markets Steady

    2016-07-04--Australia ANZ Newspaper Job Ads MoM JUN

  • Federal election 2016: How Labor's Mediscare plot was hatched
  • Stumbling dollar lifts oil prices, but uptick in U.S. drilling caps gains

    2016-07-05--Australia AIG Services Index JUN

  • AiG Services Index: Australia's Services Sector Expands at Slower ...
  • AUD/USD – Under Pressure as S&P Cuts Aussie Credit Rating

    2016-07-05--Australia Balance of Trade MAY

  • Australian Trade Balance: Trade Deficit Widens in May as Imports Rise
  • AGL warns of $100m fall in gas profits

    2016-07-05--Australia Exports MoM MAY

  • Today's Market View : Amur Minerals, Asiamet Resources, Bacanora ...
  • RBA Holds Interest Rate Steady At 1.75%

    2016-07-05--Australia Imports MoM MAY

  • RBA Holds Interest Rate Steady At 1.75%
  • China Alumina Imports Rise 70.82% MoM in May

    2016-07-05--Australia Retail Sales MoM MAY

  • RBA Holds Interest Rate Steady At 1.75%
  • Mid-Day Report: Sterling Resumes Fall as BoE Lowers Bank Capital ...

    2016-07-05--Australia RBA Interest Rate Decision

  • Your 10-second guide to today's RBA rate decision
  • What impact will Brexit have on the RBA interest rate decision?

    2016-07-06--Australia RBA Debelle Speech

  • Not even the Teflon-coated Australian dollar could escape the ...
  • Scoreboard: BoE booster shot

    2016-07-07--Australia AIG Construction Index JUN

  • Australian AiG Performance of Construction Index Rebounds in June
  • AUD/USD: Australia'S Construction Sector Rebounded In June

    2016-07-04--Australia TD-MI Inflation Gauge MoM JUN

  • 2016-07-04--Australia Building Permits MoM MAY

  • What's Happening | Thursday, July 7 through 11
  • What's Happening | Friday, June 24 through 29

    2016-07-04--Australia ANZ Job Advertisements MoM JUN

  • Federal election 2016: How Labor's Mediscare plot was hatched
  • Monster that ate the National Disability Insurance Scheme

    2016-07-04--Australia ANZ Internet Job Ads MoM JUN

  • Federal election 2016: How Labor's Mediscare plot was hatched
  • Monster that ate the National Disability Insurance Scheme

  • Bigger Australian trade deficit paints a worrying picture for economic ...
  • Election 2016: can Australia defy the economic odds?

    Companies Reported last month include:

    Westpac Banking Corp

    fins

  • Should you buy Westpac Banking Corp for its monster 6.4% dividend?
  • Queensland lures bond buyers hunting yield

    Best Stocks Last Month and News

    Fortescue Metals Group Ltd (FMG:AU)+21.76%

  • Iron Ore Miners Surge But Is the Rally Overdone?

    Newcrest Mining Ltd (NCM:AU)+21.11%

  • Tribeca Resources Fund Hits Paydirt with 20% Gain

    APA Group (APA:AU)+14.51%

  • EconMin Borc: Most exports belong to multinationals; we unwillingly ...

    Scentre Group (SCG:AU)+10.79%

  • Westfield reports $2.3B profit following breakup

    Dexus Property Group (DXS:AU)+9.90%

  • Morning Report APAC: Dovish Fed drives US stocks lower, Asia to ...

    Santos Ltd (STO:AU)+9.18%

  • PEG Ratio (5 yr expected):

    Stockland (SGP:AU)+9.04%

  • Australia's REITs Are Capital-Raising Stars

    Aurizon Holdings Ltd (AZJ:AU)+8.94%

  • PEG Ratio (5 yr expected):

    AGL Energy Ltd (AGL:AU)+7.34%

  • AGL to Quit Natural Gas Exploration, Production

    Rio Tinto Ltd (RIO:AU)+6.93%

  • Morgan Stanley Downgrades Iron Ore Giants on Weak China Demand

    Worst Stocks Last Month and News

    QBE Insurance Group Ltd (QBE:AU) -14.08%

  • PEG Ratio (5 yr expected):

    Computershare Ltd (CPU:AU) -12.33%

    Incitec Pivot Ltd (IPL:AU) -11.27%

  • PEG Ratio (5 yr expected):

    LendLease Group (LLC:AU) -9.08%

  • TDR Capital to buy Ausco for more than A$650 mln

    Macquarie Group Ltd (MQG:AU) -8.13%

  • CLSA: The 5 Best Long-Term Asian Stocks

    National Australia Bank Ltd (NAB:AU) -6.15%

  • Can Aussie Bank Stocks Fight Off Short Sellers?

    Australia & New Zealand Banking Group Ltd (ANZ:AU) -5.72%

  • Australia Regulator Accuses ANZ of Rate Manipulation

    Orica Ltd (ORI:AU) -5.25%

  • Morning Report APAC: China's exports and imports fall in April

    Amcor Ltd/Australia (AMC:AU) -5.10%

    Westpac Banking Corp (WBC:AU) -4.42%

  • Can Aussie Bank Stocks Fight Off Short Sellers?

    Valuations




    valuestockCountryIndustryMCap US mnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Scentre GroupSCG:AUREIT20287.094.12%9.959.3994.3740.9939.36158.26
    Fortescue Metals Group LtdFMG:AUAustralia Steel Raw Material Suppliers8962.871.86%29.261.264.3154.42121.16144.11
    Newcrest Mining LtdNCM:AUAustralia Precious Metal Mining15081.17-42.734.4510.41-0.00101.2062.36
    Cochlear LtdCOH:AUAustralia Medical Devices5237.492.46%41.246.6516.13101.4556.14125.95
    Dexus Property GroupDXS:AUAustralia REIT6787.164.78%7.699.2099.9936.7636.30178.48
    Sydney AirportSYD:AUAustralia Transport Support Services11913.423.94%55.8112.8523.02219.8935.50216.08
    GPT Group/TheGPT:AUAustralia REIT7391.404.20%11.1914.0999.9947.0031.91187.11
    AGL Energy LtdAGL:AUAustralia Integrated Utilities10090.944.74%-1.210.00-0.0030.8624.34
    Transurban GroupTCL:AUAustralia Infrastructure Construction18495.424.05%277.5211.924.30999.9928.28872.49
    CSL LtdCSL:AUAustralia Biotech38115.141.55%27.666.5623.7242.8727.3459.75
    StocklandSGP:AUAustralia REIT8683.305.07%10.045.2352.0950.9022.05108.48
    ASX LtdASX:AUAustralia Security & Cmdty Exchanges6723.286.00%21.6612.2456.51129.9620.77179.05
    Westfield CorpWFD:AUAustralia REIT16898.393.21%7.2613.6599.9923.3019.75217.29
    Brambles LtdBXB:AUAustralia Containers & Packaging15102.212.53%25.462.7610.8464.4119.4962.76
    APA GroupAPA:AUAustralia Utility Networks7988.884.35%79.505.877.38345.8317.41284.59
    Ramsay Health Care LtdRHC:AUAustralia Health Care Facilities10868.032.15%35.441.764.9776.2016.9256.12
    Mirvac GroupMGR:AUAustralia Real Estate Owners & Developers5730.504.81%9.485.0853.5945.6015.2598.43
    Goodman GroupGMG:AUAustralia Real Estate Services9528.783.37%7.778.6099.9926.1815.23137.81
    Asciano LtdAIO:AUAustralia Rail Freight6509.092.09%23.412.3410.0048.9314.8243.81
    Amcor Ltd/AustraliaAMC:AUAustralia Containers & Packaging13055.763.78%20.061.427.0875.8314.0770.39
    Insurance Australia Group LtdIAG:AUAustralia P&C Insurance10232.987.40%21.851.346.13161.696.10145.55
    Tatts Group LtdTTS:AUAustralia Casinos & Gaming4193.606.37%21.011.848.76133.831.65116.71
    Ausdoc Group Pty LtdAUD:AUAustralia Other Commercial Services0.00---0.000.000.01-6.51
    Vicinity Holdings LtdNVN:AUAustralia REIT0.00---0.000.000.01-6.51
    Toll Holdings LtdTOL:AUAustralia Logistics Services0.00---0.000.000.01-6.51
    Sonic Healthcare LtdSHL:AUAustralia Health Care Services6763.113.90%24.241.897.8094.54-1.1670.41
    Crown Resorts LtdCWN:AUAustralia Casinos & Gaming6662.415.19%22.832.4410.69118.49-2.5497.28
    Iluka Resources LtdILU:AUAustralia Base Metals2119.345.30%52.633.206.08278.94-4.68221.18
    Aurizon Holdings LtdAZJ:AUAustralia Rail Freight7555.996.20%55.422.905.23343.60-5.71281.19
    Telstra Corp LtdTLS:AUAustralia Telecom Carriers50901.857.99%16.012.5115.68127.92-6.55114.52
    Westpac Banking CorpWBC:AUAustralia Banks71470.019.45%11.292.3420.73106.69-10.4999.11
    AMP LtdAMP:AUAustralia Life Insurance11648.137.35%15.741.117.05115.69-12.3188.17
    Commonwealth Bank of AustraliaCBA:AUAustralia Banks93452.588.28%13.212.9122.03109.38-12.3799.30
    Macquarie Group LtdMQG:AUAustralia Diversified Banks16929.967.08%10.681.4313.3975.61-15.8755.93
    LendLease GroupLLC:AUAustralia Non-Residential Bldg Const5256.284.95%10.090.454.4649.95-19.2518.54
    Woodside Petroleum LtdWPL:AUAustralia Exploration & Production16809.718.21%558.883.250.58999.99-19.58999.99
    Bendigo & Adelaide Bank LtdBEN:AUAustralia Banks3328.5710.02%10.801.3712.69108.22-19.7883.80
    Incitec Pivot LtdIPL:AUAustralia Agricultural Chemicals3714.875.17%17.331.387.9689.60-20.8552.85
    National Australia Bank LtdNAB:AUAustralia Banks48880.9611.55%10.361.8617.95119.66-20.9299.81
    Woolworths LtdWOW:AUAustralia Food & Drug Stores19864.728.02%-0.430.00-0.00-21.13-27.65
    Computershare LtdCPU:AUAustralia Instl Trust, Fiduciary & Custody3714.114.50%16.911.9311.4176.10-21.7542.32
    BHP Billiton LtdBHP:AUAustralia Steel Raw Material Suppliers72459.798.22%-2.500.00-0.00-24.07-30.59
    QBE Insurance Group LtdQBE:AUAustralia P&C Insurance10594.476.95%15.340.815.28106.61-24.4665.58
    Santos LtdSTO:AUAustralia Exploration & Production6335.495.43%-1.760.00-0.00-26.23-32.75
    Orica LtdORI:AUAustralia Specialty Chemicals3471.377.26%-0.850.00-0.00-37.41-43.93
    Origin Energy LtdORG:AUAustralia Integrated Utilities7497.375.60%-0.730.00-0.00-39.87-46.39
    Wesfarmers LtdWES:AUAustralia Food & Drug Stores33895.997.21%18.280.703.83131.804.45115.28
    Suncorp Group LtdSUN:AUBrisbane, QLD 4000 Australia P&C Insurance11835.267.94%15.171.228.04120.45-5.82100.98
    Australia & New Zealand Banking Group LtdANZ:AUDocklands, VIC 3008 Australia Banks50732.0010.84%9.681.7818.39104.93-25.5581.57
    James Hardie Industries PLCJHX:AUIreland Non Wood Building Materials6969.042.47%26.724.0115.0166.0017.6465.40
    Rio Tinto LtdRIO:AUUnited Kingdom Steel Raw Material Suppliers57754.408.95%-1.880.00-0.00-2.47-8.99

    Index Sector Valuations vs GEM Average

    SectorSector MCap US mnSector MCap Share in TotalGem Sector Share In Total GEMGEM Sector MCAP USmnPayout RatioGEM Payout RatioDiv YieldGEM Div YieldPEPEGEMPE Discount vs GEMNetMarginNetMarginGEMMargin Diff. vs GEM1yr ReturnGEM 1yr Return
    Communications50901.85.710.3794505.843.38.03.216.018.2-12.115.713.6-2.1-6.5-0.7
    Consumer Discretionary10856.01.26.6509681.027.05.62.022.116.434.89.99.6-0.3-0.93.1
    Consumer Staples53760.76.17.5584775.30.038.07.51.818.328.2-35.13.810.36.5-5.012.3
    Energy23145.22.612.6973390.40.040.87.44.412.40.69.79.1-21.4-21.0
    Financials414848.946.732.82543065.745.226.08.24.011.88.834.136.120.4-15.7-6.93.2
    Health Care60983.86.92.3178295.855.620.32.01.029.831.7-6.018.017.0-1.024.813.6
    Industrials49730.25.65.8453138.249.423.44.21.841.318.6122.09.711.41.718.122.9
    Materials198690.822.47.6590209.416.527.57.03.129.518.163.09.29.80.65.6-0.1
    Utilities25577.22.93.7288099.00.032.24.93.112.47.413.46.05.9-5.6

    Top 5 ML Australia Basket Long Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Woodside Petroleum LtdWPL:AUAustralia Exploration & Production16809.718.21%558.883.250.58999.99-19.584004.01
    Transurban GroupTCL:AUAustralia Infrastructure Construction18495.424.05%277.5211.924.30999.9928.28872.49
    APA GroupAPA:AUAustralia Utility Networks7988.884.35%79.505.877.38345.8317.41284.59
    Aurizon Holdings LtdAZJ:AUAustralia Rail Freight7555.996.20%55.422.905.23343.60-5.71281.19
    Iluka Resources LtdILU:AUAustralia Base Metals2119.345.30%52.633.206.08278.94-4.68221.18

    Top 5 ML Australia Basket Short Picks

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Origin Energy LtdORG:AUAustralia Integrated Utilities7497.375.60%-0.730.00-0.00-39.87-57.82
    Orica LtdORI:AUAustralia Specialty Chemicals3471.377.26%-0.850.00-0.00-37.41-55.36
    Santos LtdSTO:AUAustralia Exploration & Production6335.495.43%-1.760.00-0.00-26.23-44.18
    BHP Billiton LtdBHP:AUAustralia Steel Raw Material Suppliers72459.798.22%-2.500.00-0.00-24.07-42.03
    Woolworths LtdWOW:AUAustralia Food & Drug Stores19864.728.02%-0.430.00-0.00-21.13-39.08
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    Weekly Fund flow into Australia focused funds showed (Previous Week)242.5 USD mn of inflow


    Top 10 Australia Focused Funds by Inflows Last Week
    Fund Namefund flow mn$Total Assets mn$
    FIDELITY FUNDS - AUSTRALIA FUND - A (FPGK)81.2602.8
    UBS LUX EQUITY FUND - AUSTRALIA AUD - P ACC (UBFY)43.2372.5
    ABERDEEN AUSTRALIA EQUITY FUND INC (IAF)12.8141.3
    ABERDEEN ASIA-PACIFIC INCOME FUND INC (XFAPX)10.31449.0
    AUSTRALIA EQUITY INCOME FUND (DWAUEIP)9.2208.6
    DEXIA EQUITIES L - AUSTRALIA (XUO6)8.3389.8
    FIDELITY FUNDS - AUSTRALIA FUND - A (FIDLAUI)7.9398.1
    BARRAMUNDI LTD (BRM)6.065.7
    BARING INTERNATIONAL UMBRELLA - BARING AUSTRALIA FUND - $ (BYQR)5.797.3
    FIDELITY FUNDS - AUSTRALIA FUND - Y ACC AUD (FFAUSTY)5.4394.5

    Top 10 Australia Focused Funds by Outflow Last Week
    Fund Namefund flow mn$Total Assets mn$
    PLATINUM ASIA FUND - C (PLTASIA)-410.73259.2
    ALTSHULER SHAHAM 4B REAL ESTATE AND INFRASTRUCTURE (RAREINF)-10.3836.0
    RARE INFRASTRUCTURE VALUE FUND - HEDGED - WHL (RAREINF)-10.3836.0
    PERPETUAL WHOLESALE FUNDS - INDUSTRIAL FUND - WHOLESALE (PERWISI)-3.21605.1
    PERPETUAL WEALTHFOCUS INVESTMENTS - INDUSTRIAL SHARE FUND - A (PERPFIS)-1.1738.2
    PERPETUAL WHOLESALE FUNDS - AUSTRALIAN FUND - WHOLESALE (PERWASI)-1.11052.4
    UBS AUSTRALIAN BOND INCOME FUND (UBSASB)-0.9239.4
    COLONIAL FIRST STATE FIRSTCHOICE WHL PERSONAL SUPER - FIRSTCHOICE WHL ASIAN SHAR (CFSFWAS)-0.822.3
    PERPETUAL WHOLESALE FUNDS - GEARED AUSTRALIAN FUND - WHOLESALE (PERWGAU)-0.2341.0
    ING JAPAN FUND/NETHERLANDS (INGJAPN)-0.16.2



    Bond Picks


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