thinking strategically: dislocations, reform and key themes · 2016. 6. 14. · performance &...

Thinking Strategically: Dislocations, Reform and Key Themes Tim Craighead Bloomberg Intelligence Director of Research - Asia [email protected] July 2015

mailto:[email protected]

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Performance & Valuation Across Asia

One of Asia’s Biggest “Disconnects:” The Two Faces of China

Currencies Diverge: Business Location Matters in 2015

Key Industry Themes for 2H-2015

AGENDA

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ASIA STOCKS: A PRETTY GOOD HALF FOR MANY

BI China

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ASIA VALUATION: STABLE FOR MANY

BI China

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CHINA’S STOCK MARKET: QUICK SPIKES, LONG FADES

BI China: {NSN NQOJMG6JTSE8}

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CHINA’S STOCK MARKET: A RETAIL MOMENTUM FRENZY

BI China: {NSN NPSXGD6JIJUX}

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CHINA’S STOCK MARKET: MARGIN LEVERAGES SWINGS


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CHINA’S STOCK MARKET: A TALE OF TWO MARKET CAPS


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VALUATION: P/E CHINA BIG-CAP NEAR WORLD

BI China: {NSN NQOR8G6JTSE8}

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VALUATION: P/E CHINA IS HIGHEST…AND LOWEST

BI China: {NSN NQOR8G6JTSE8}

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AGENDA

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CHINA’S STOCK MARKET: A TALE OF TWO CHINAS


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CONNECTING TO A DIVERGENCE: NEW EXPOSURE POSSIBILITIES

BI China: {NSN NPR7OQ6JIJUU}

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CONNECTING TO A DIVERGENCE: AH-INDEX STILL SHOWS A-PREMIUM

BI China: {NSN NPR9OW6KLVRE}

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CONNECTING TO A DIVERGENCE: MANY PREMIUMS EXCEED 200%

BI China {BI CHINA CDSS |104-1|16||PRC}

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CONNECTING TO A DIVERGENCE: BELLWETHERS STAND OUT

BI China {NSN NRELW36K50Y1} Priced July 13

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AGENDA

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ASIA CURRENCIES DIVERGE: YUAN STRENGTH

BI China: {NSN NRRJAG6JIJUQ}

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ASIA CURRENCIES DIVERGE: EURO WEAKNESS

BI China: {NSN NRRK906KLVR5}

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ASIA CURRENCIES DIVERGE: YEN’S 2ND ROUND

BI China: {NSN NRRK906KLVR5}

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ASIA CURRENCIES DIVERGE: TRADE-WEIGHTED FX

BI China: {NSN NRRJAG6JIJUQ}

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Performance & Valuation Across Asia One of Asia’s Biggest “Disconnects:” The Two Faces of China Currencies Diverge: Business Location Matters in 2015


– Clean China: Powering Change – LNG: Supplying the World From Australia – One Belt One Road: Extending Links Across Asia – Banks: Japan Looks Abroad – Metals & Mining India Helps Offset China – Telecom: Calling for Competition – Gaming: Betting on New Resorts

AGENDA

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CLEAN CHINA: POWERING CHANGE

BI EGENA: {NSN NO5PD86TTDS1}

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LNG: GASSING UP FROM DOWN UNDER

BI EXPRA: {NSN NQ0E0R6JTSEA}

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ONE BELT ONE ROAD - AIIB: EXTENDING LINKS ACROSS ASIA

BI INFRA, {NSN NP1B0G6JTSEB}

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BANKS: JAPAN LOOKS ABROAD

BI BANKA, {NSN NRIHBP6JIJUQ}

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METALS & MINING: INDIA HELPS OFFSET CHINA

BI ISTLG {NSN NOZJSA6TTDS9}

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TELECOM: CALLING FOR COMPETITION

BI TELCA {NSN NM085U6S972G}

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GAMING: BETTING ON NEW RESORTS

Bi game {NSN NOXGE76KLVRC}

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FIND MORE ON BI CHINA

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Thinking Strategically:�Dislocations, Reform and Key ThemesAgenda Asia Stocks: �a pretty good half for manyAsia Valuation: �Stable for manyChina’s Stock Market: �Quick Spikes, long FadesChina’s Stock Market:�A retail momentum frenzyChina’s Stock Market:�Margin Leverages SwingsChina’s Stock Market:�A Tale of Two Market CapsValuation: P/E�China Big-cap near world Valuation: P/E�China is Highest…and lowest Agenda China’s Stock Market:�A Tale of Two ChinasConnecting to a Divergence:�New Exposure PossibilitiesConnecting to a Divergence:�AH-Index Still Shows A-PremiumConnecting to a Divergence:�Many premiums exceed 200%Connecting to a Divergence:�Bellwethers Stand OutAgenda Asia Currencies diverge:�Yuan strengthAsia Currencies diverge:�Euro WeaknessAsia Currencies diverge:�Yen’s 2nd round Asia Currencies diverge:�Trade-weighted FXAgenda Clean China: �Powering ChangeLNG:�Gassing up from down underOne belt one road - AIIB: �Extending Links Across AsiaBanks: �Japan Looks AbroadMetals & Mining: �India helps offset china Telecom:�Calling for CompetitionGaming:�Betting on new resorts Find more on BI ChinaSlide Number 31

thinking strategically: dislocations, reform and key themes · 2016. 6. 14. · performance &...

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