DOCSLIB.ORG

Global Equity Market Performance

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Global Equity Market Performance Weekly Equity Capital Markets Newsletter Piper Jaffray Asia Securities Limited April 19, 2010 Global Equity Market Performance Global Equity Market Update Piper Jaffray Asia Capital Markets Group U.S. stocks plunged on Friday amidst the heaviest trading activity J. West Riggs (Head of Asia ECM), [email protected], Tel: (852) 3189 3230 in 2010, following the Securities and Exchange Commission’s fraud Derrick Lau (MD ECM), [email protected], Tel: (852) 3189 3233 charges against Goldman Sachs. Disappointing earnings data and persistent uncertainty over Greece’s ability to pay its debts also Michael Cheung (Principal), [email protected], Tel: (852) 3189 3212 discouraged optimism over global economic recovery. During the week, Dow was up 0.2 percent to 11,018.7, NASDAQ gained 1.1 Amanda Lui (Associate), [email protected], Tel: (852) 3189 3296 percent to close at 2,481.3 while the S&P 500 closed 0.2 percent Henry Tseung (Analyst), [email protected], Tel: (852) 3189 3298 lower at 1,192.1. Crude futures closed at $83.2 per barrel, down 2.0 percent over the week. Global Market Performance European stocks ended the week lower, as banking stocks reacted Performance (%) to the fraud charges leveled by the U.S. Securities and Exchange Commission against Goldman Sachs. The euro slid amidst worries Last price 1day 1week 1month YTD over Greece’s debt crisis while airline stocks weakened as Icelandic Global Indices volcanic ash caused air travel chaos across Europe . The DJ Euro Stoxx 50 closed down 1.5 percent at 2,949.7. Over the week, the Dow Jones 11,018.7 2.7% 0. 2% 2.7% 5.7% FTSE closed down 0.5 percent at 5,744. S&P500 1,192.1 3.6% (0.2%) 2.2% 6.9% Japan’s Nikkei closed 1.5% lower this week at 11,102.2, recording NASDAQ 2,481.3 3.5% 1.1% 3.9% 9.3% the lowest close in three weeks. Google’s lower-than-expected results announcement disappointed investors and a stronger yen FTSE 5,744.0 1.1% (0.5%) 1.8% 6.1% led to profit-booking during the week. Additionally, trading houses Asian Indices such as Mitsubishi Corporation were hit by sliding oil prices. The Hang Seng 21,865.3 2.9% (1.5%) 2.2% (0.0%) MSCI Asia Pacific ex. Japan index dropped 0.5 percent during the week to close at 435. HSCEI 12,557.4 1.3% (3.8%) 2.7% (1.9%) HK Weekly Market Update Shanghai A 3,282.0 (1.1%) (0.5%) 2.6% (4.5%) Nikkei 225 11,102.2 (1.5%) (0.9%) 2.4% 5.3% The HSI fell 1.5 percent during the week, down 343 points at 21,865.3. Hong Kong stocks retreated to two-week lows, dragged down by property stocks, following Beijing’s latest move to ease Global Indices Performance (Rebased to 100) rising real estate prices. However, investors were bullish on pharmaceutical stocks as increasing consolidation in the sector is 190 expected to benefit listed companies in the long run. 170 Among Index constituents, 6 gained and 37 declined. Among gggppgainers, HSBC Holdings was up 3.2 percent, Bank of China Hong 150 Kong Holdings was up 1.4 percent and Sun Hung Kai Properties closed up 1.1 percent. Among losers, China Resources Land 130 Limited was down 11.0 percent, China Overseas Land & Investment declined 10.4 percent and Foxconn International closed 110 down 9.2 percent. 90 The National Bureau of Statistics (NBS) in China reported that the country’s annual GDP accelerated in the first quarter of 2010 to 70 11.9 percent, totaling 8.1 trillion yuan. Meanwhile, the Consumer 1-Jan-09 5-Apr-09 8-Jul-09 10-Oct-09 12-Jan-10 16-Apr-10 Price index witnessed a 2.2 percent increase in the first quarter of S&P 500 NASDAQ FTSE Hang Seng Shanghai A 2010, over the same ppyeriod last year. HSI Weekly Performance HSI Sectoral Weekly Performance 4.0% 3.0 22,138.2 22,103.5 22,121.422,157.8 21,865.3 22,200 2.5 2.0% 2.0 22,000 1.5 0.0% 1.87 1.0 2.50 21,800 (0.8%) 1.58 1.46 (2.0%) (1.4%) (1.4%) 0.5 1.30 (2.9%) 0.0 21,600 (4.0%) 12-Apr-10 13-Apr-10 14-Apr-10 15-Apr-10 16-Apr-10 Turnover (Vol. in billion) Close Utilities Comm/Indu Finance Propert y Source: DataStream, Reuters 1 Weekly Equity Capital Markets Newsletter Piper Jaffray Asia Securities Limited April 19, 2010 Piper Jaff r ay Chin a In dex PJ China Index Performance Since January 2009 Sector Breakdown and Performance 2,500 Current Level: 2,198.4 Financial/Real Clean Estate Tech/Energy 4% 2, 000 12% TlTelecom, MdiMedia & Technology 31% 1, 50 0 Consumer 12% 1,000 Health Care 13% Business Services and 500 1-Jan-09 5-Apr-09 8-Jul-09 10-Oct-09 12-Jan-10 16-Apr-10 Industrial Growth 28% PJ China Index 0.0% Week-to-date change (32.39) (1.45%) (0.2%) (0.5%) (2.0)% (1.4%) 2010 Year-to-date change 89.77 4.26% (1.8%) LTM change 991.81 82.20% (4.0)% (4.1%) 6-month change 193.86 9.67% (6.0)% (5.6%) 2010 Year-to-date high (pts) 2,266.26 11-Jan-10 2010 Year-to-date low (pts) 1,901.45 29-Jan-10 Healt h Care Clean Tech/ Energy Teleco m, M edia & Techno log y B usiness Services and Ind ust rial Gro wt h Consumer Financial/ Real Est at e Top Five Weekly Gainers and Losers 20.0% 11.2% 10.1% 9.1% 8.1% 10.0% 7.7% 0.0% (10.0%) (9.2%) (10.2%) (11.3%) (13.2%) (20.0%) (22.3%) (30.0%) Gulf Resources China XD Seaspan O2 Micro China Nuokang CNinsure Perfect World China Valves Melco Crown China Agritech Plastics Corporation International Bio- Co. Technology Entertainment Pharmaceutical Note: Piper Jaffray China Index is a modified market capitalization weighted index comprised of U.S. exchange listed securities of companies with significant exposure to the Chinese economy and market capitalization over US$100m. The index was developed with a base level of 1,000 as of January 1, 09 (Please refer to the last page of this report r constituents) Source: Bloomberg 2 Weekly Equity Capital Markets Newsletter Piper Jaffray Asia Securities Limited April 19, 2010 Macro Indicators and Global Currencies Performance – Since January 2009 Gold (UBS-IB) Copper (NYC) CBOE Volatility Index (VIX) USD/oz USD/lb Current Level: USD1,136.5 per ounce Current Level: USD3.552 per pound Current Level:18.36 60 1,250 4 50 1,100 3 40 30 950 2 20 800 1 10 1-Jan-09 5-Apr-09 8-Jul-09 10-Oct-09 12-Jan-10 16-Apr-10 2-Jan-09 5-Apr-09 8-Jul-09 10-Oct-09 12-Jan-10 16-Apr-10 2-Jan-09 5-Apr-09 8-Jul-09 10-Oct-09 12-Jan-10 16-Apr-10 Spot WTI Crude Stowe Global Coal Index Baltic Dry Index USD/barrel Current Level: USD83.24 per barrel Current Level: 5,365.69 5,000 Current Level: 3,009.00 90 6,000 80 5,000 4,000 70 4,000 3,000 60 3,000 2,000 50 2,000 1,000 40 1,000 30 0 0 2-Jan-09 5-Apr-09 8J8-Ju l-09 10-Oct-09 12-Jan-10 16A6-Apr-10 2-Jan-09 5-Apr-09 8J8-Ju l-09 10-Oct-09 12-Jan-10 16A6-Apr-10 2-Jan-09 5-Apr-09 8J8-Ju l-09 10-Oct-09 12-Jan-10 16A6-Apr-10 Euro Sterling Japanese Yen EUR/USD GBP/USD JPY/USD Current Level: 1.3496 Current Level: 1.5358 Current Level: 92.15 1.6 1.7 105 1.6 100 1.5 1.5 95 1.4 1.4 90 1.3 1.3 85 1.2 1.2 80 1-Jan-09 5-Apr-09 8-Jul-09 10-Oct-09 12-Jan-10 16-Apr-10 1-Jan-09 5-Apr-09 8-Jul-09 10-Oct-09 12-Jan-10 16-Apr-10 1-Jan-09 5-Apr-09 8-Jul-09 10-Oct-09 12-Jan-10 16-Apr-10 Source: DataStream, Reuters 3 Weekly Equity Capital Markets Newsletter Piper Jaffray Asia Securities Limited April 19, 2010 HK an d U. S. China IPO A cti vit y HK & U.S. China IPO Activity by Month 25 10,000 20 7,500 Capital Raised (US Raised Capital 15 5,000 # of IPOs 10 $ m) 2,500 5 0 0 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 US China IPOs HK IPOs US China IPOs Capital Raised HK IPOs Capital Raised U.S. China IPO Activity Past Week Deal Value Date Ticker Issuer (US$m) Deal Type Lead Manager(s) No U.S. China IPO activity this week HK IPO Activity Past Week Deal Value Date Ticker Issuer (US$m) Deal Type Lead Manager(s) No HK IPO activity this week Source: Dealogic, Hong Kong Stock Exchange 4 Weekly Equity Capital Markets Newsletter Piper Jaffray Asia Securities Limited April 19, 2010 HK an d U.
Load more

Recommended publications
  • 17-19 November 2020
    17-19 November 2020 https://financeusa.solarenergyevents.com Confirmed Organizations: 38 DEGREES NORTH EC CAPITAL NATURAL POWER CONSULTANTS AB POWER ADVISORS ECOS ENERGY NAUTILUS SOLAR ENERGY, LLC AETHER INVESTMENT PARTNERS EMERGING ENERGY & ENVIRONMENT INVESTMENT GROUP LLC NEW ENERGY EQUITY AGILITAS ENERGY, LLC ENBALANCE STORAGE NJR CLEAN ENERGY VENTURES AMARESCO ENCORE RENEWABLE ENERGY NORD LB AMERICAS ENERGY GROUP ENEL X NUVEEN, A TIAA COMPANY APRICITY RENEWABLES INC. ENERGY STORAGE DEVELOPMENT PARTNERS ONYX RENEWABLE PARTNERS, LP. ASCEND ANALYTICS ENERGY TOOLBASE ORIGIS ENERGY AVANA CAPITAL ENERVEST CAPITAL ORIGIS SERVICES BLACKROCK FTI CONSULTING PEAK POWER BLATTNER ENERGY GINLONG TECHNOLOGIES PIVOT ENERGY BLOOMBURG GLOBUS THENKEN POWER AFRICA-USAID BLUE WAVE SOLAR GRIDSME PV TECH RESEARCH BNRG HECATE ENERGY RABOBANK BORALEX HELIOLYTICS RADIENT REIT BOSTONIA PARTNERS HELIOVAAS RIGUP BRETTS SOLUTIONS HODGSON RUSS ROTH CAPITAL PARTNERS BRIGHTNIGHT INVESTEC HOLDINGS SEMINOLE FINANCIAL SERVICES BVT ITRI SILICON RANCH C2 ENERGY CAPITAL JAVELIN CAPITAL SOLAMERICA ENERGY CALVERT IMPACT CAPITAL JINKO SOLAR SOLAR RANCH DEVELOPMENT CENTROPLAN USA LLC KAISERWETTER ENERGY ASSET MANAGEMEMT SOLAR RANCH DEVELOPMENT COMPANY CIT BANK KEYBANC CAPITAL MARKETS SOLARIS GLOBAL LLC CITADEL LECLANCHE SOLAS ENERGY CONSULTING CLEAN HORIZON LIBERTY RENEWABLES SOLIS INVERTERS CLEANCAPITAL LIGHTSOURCE BP STANDARD SOLAR INC. CLIFFVIEW PARTNERS LIVE OAK BANK STARKPOINT CAPITAL ADVISORS, LLC CNB LONGI SOLAR STEM COMMONWEALTH BANK OF AUSTRALIA LS POWER SUNLIGHT GENERAL CAPITAL COMMUNITY ENERGY M&T BANK SUNTECH CONEDISON MAP ENERGY SUSGEN CPS ENERGY MARATHON CAPITAL SUSTAINABLE WESTCHESTER CUBICO MITSUBISHI HEAVY INDUSTRIES AMERICA, INC. TMEIC CUSTOMIZED ENERGY SOLUTIONS MOMENTUM ENERGY STORAGE PARTNERS TORTOISE ADVISORS DAYMARK ENERGY ADVISORS MONARCH PRIVATE CAPITAL U.S. DEPARTMENT OF ENERGY DLA PIPER MOTT MACDONALD UL DNV-GL MUNICHRE USAID/ POWER AFRICA.
    [Show full text]
  • Download IPO Report
    Donnelley Financial Solutions US IPO Report - December 2020 Edition Congratulations to the 74 December issuers and their advisors on the ~$159 Billion "2020 - an unforgettable year for IPOs! successful completion of their IPO. As I look back on all the successes we Total Raised in 2020 DFIN was proud to have serviced shared with our clients - perseverance, AbCellera Biologics, Altitude hard work, compassion, and great Acquisition, BioAtla, CBRE partnerships led us to successfully Acquisition, 17 Education & 2020 Priced (count) complete 197 IPOs during a year with Technology Group, 4D Molecular 100 so many challenges. An incredibly Therapeutics, Wish, DoorDash, active pipeline, robust valuations, Far Peak Acquisition, Golden vaccine deployment and newfound Falcon Acquisition, Gores hope brings much optimism for 2021." Holding VI, Marquee Raine CRAIG CLAY, PRESIDENT, DONNELLEY FINANCIAL SOLUTIONS 0 Acquisition, Periphas Capital JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DE… Partnering, Pharming Group NV, Silverback Therapeutics, Thayer 91 League Table *Top 25 Ventures Acquisition, Upstart Issuer's Counsel Count Holdings, and the largest offering IPOs publicly filed in December Ellenoff Grossman 48 this year Airbnb! bringing total count for 2020 to 621. In Kirkland & Ellis 41 2019, there were 293 total filings and Skadden Arps 38 Latham & Watkins LLP 33 296 in 2018. 156 of 2020 filings are Cooley LLP 30 December Priced (count) pending pricing. Goodwin Procter 27 2017 (15) White & Case 23 Davis Polk 19 Sector Breakdown (non-SPACs) 2018 (17) Loeb & Loeb 16 Wilson Sonsini 16 49.8% Healthcare 2019 (13) Winston & Strawn 15 24.08% Technology Ropes & Gray 14 2020 (74) Weil Gotshal 14 11.42% Consumer 2020 Priced Simpson Thacher 11 7.35% Industrial Graubard Miller 9 Greenberg Traurig 9 7.35% Financial 50% of the priced IPOs in 2020 were Paul Weiss 7 SPACs with a total count for the year Sheppard Mullin 7 WilmerHale 7 248 with a total valuation of ~$76 Healthcare Fenwick & West 6 billion.
    [Show full text]
  • In a Year of Contraction, Asia Feels the Ripple Effect of Mifid II 2016 Greenwich Leaders: Asian Equities
    In a Year of Contraction, Asia Feels the Ripple Effect of MiFID II 2016 Greenwich Leaders: Asian Equities Q1 2017 Three global brokers are pulling away from the pack in the Asian equity research/advisory business—a break from historical patterns characterized by a more gradual slope among major competitors. Credit Suisse, Bank of America Merrill Lynch and Morgan Stanley are statistically deadlocked atop the list of 2016 Greenwich Leaders in Asian Equity Research/Advisory Vote Share. These three firms have opened a significant lead over UBS, CLSA Asia-Pacific Markets and J.P. Morgan, which are also virtually tied in terms of vote share and round out the list of this year’s winners. In Asian Equity Trading, the same three firms are statistically tied for the top spot in overall share, but in this business, their lead over fellow Greenwich Share Leaders CLSA, UBS and Citi is much narrower. In the growing algorithmic trading business, Bank of America Merrill Lynch widened its lead over the competition. Credit Suisse and Morgan Stanley claim the title of 2016 Greenwich Quality Leaders in Asian Equity Research Product & Analyst Service, and Greenwich Share Leaders — 2016 GREENWICH ASSOCIATES Greenwich Share20 1Leade6r Asian Equity Research/Advisory Vote Share Asian Equity Algorithmic Trading Share Broker Statistical Rank Broker Statistical Rank Credit Suisse 1T Bank of America Merrill Lynch 1 Bank of America Merrill Lynch 1T UBS 2T Morgan Stanley 1T Morgan Stanley 2T UBS 4T Credit Suisse 2T CLSA Asia-Pacific Markets 4T Goldman Sachs 5T J.P. Morgan 4T Citi 5T ITG 5T Asian Equity Trading Share, Options & Volatility Product Important Relationships—Asia Broker Statistical Rank* Broker Statistical Rank Morgan Stanley 1T Morgan Stanley 1T Bank of America Merrill Lynch 1T Goldman Sachs 1T Credit Suisse 1T Bank of America Merrill Lynch 3T CLSA Asia-Pacific Markets 4T Deutsche Bank 3T UBS 4T J.P.
    [Show full text]
  • Dealflow Report the NEWS, INFORMATION, and ANALYSIS of SMALL CAP EQUITY FINANCE Volume I, No
    dealflow report THE NEWS, INFORMATION, AND ANALYSIS OF SMALL CAP EQUITY FINANCE Volume I, No. 38 report.dealflowmedia.comreport.dealflow.com October 8, 2012 SMALL CAP MARKETS SMALL CAP FINANCING PICKED • The small cap financing market picked up in the third quarter. UP IN THIRD QUARTER AS • China’s agreement with the PCAOB may not VOLATILITY DECLINED boost investment. by Dan Lonkevich • An SEC commissioner called for a Small cap and microcap financing activ- markets at Roth Capital Partners in New- comprehensive review of regulatory structure ...2 ity picked up in the third quarter as a less port Beach, Calif. “There’s a slight uplift • Sun River reached a settlement with three volatile stock market helped companies to from issuer stock prices. When they feel investors who accused it of fraud ........................3 feel better about their valuations. better about their stock price, they’re more Publicly traded companies made at least willing to do deals.” DATES & DEADLINES 246 private placements of equity in the Roth Capital helped arrange six PIPEs • A listing of important events coming up in the quarter, raising $11.2 billion. It was the worth $68.8 million in the third quarter. small cap financing market ...............................4 most active third quarter for the PIPE mar- Concerns about the upcoming presi- ket since 2008. dential election and uncertainty about how PIPEs In 2011’s third quarter, there were only the results might affect their businesses is • BioFuel Energy may need to raise capital ...........6 227 PIPEs that raised $11 billion. causing many companies to take advantage • Antares Pharma raised $50M for an arthritis The data excludes PIPEs that raised less of the recent uptick in their stock prices to drug ........................................................................6 than $1 million and transactions by for- raise capital now rather than waiting, Gure- • Cantor is providing a $45M ATM for Unilife .......7 eign companies that weren’t listed on U.S.
    [Show full text]
  • Espinal, Et Al. V. Didi Global Inc., Et Al. 21-CV-05807-U.S. District Court
    Espinal v. Didi Global Inc. et al, Docket No. 1:21-cv-05807 (S.D.N.Y. Jul 06, 2021), Court Docket Current on Bloomberg Law as of 2021-07-08 13:03:33 U.S. District Court Southern District of New York (Foley Square) CIVIL DOCKET FOR CASE #: 1:21-cv-05807-LAK Espinal v. Didi Global Inc. et al Date Filed: Jul 6, 2021 Nature of suit: 850 Securities/ Commodities Assigned to: Judge Lewis A. Kaplan Cause: 15:77 Securities Fraud Jurisdiction: Federal Question Jury demand: Plaintiff Parties and Attorneys Plaintiff Rafaela Espinal individually and on behalf of all others similarly situated Representation Gregory Bradley Linkh Glancy Prongay & Murray LLP 230 Park Avenue Suite 358 New York, NY 10169 (212) 682-5340 [email protected] ATTORNEY TO BE NOTICED Defendant Didi Global Inc. formerly known as: Xiaoju Kuaizhi Inc. Defendant Will Wei Cheng © 2021 The Bureau of National Affairs, Inc. All Rights Reserved. Terms of Service // PAGE 1 Espinal v. Didi Global Inc. et al, Docket No. 1:21-cv-05807 (S.D.N.Y. Jul 06, 2021), Court Docket Defendant Alan Yue Zhuo Defendant Jean Qing Liu Defendant Stephen Jingshi Zhu Defendant Zhiyi Chen Defendant Martin Chi Ping Lau Defendant Kentaro Matsui Defendant Adria Perica Defendant Daniel Yong Zhang Defendant Goldman Sachs (ASIA) L.L.C. Defendant Morgan Stanley & Co. LLC Defendant J.P. Morgan Securities LLC Defendant Bofa Securities, Inc. Defendant Barclays Capital Inc. Defendant China Renaissance Securities (Hong Kong) Limited Defendant China International Capital Corporation Hong Kong Securities Limited © 2021 The Bureau of National Affairs, Inc.
    [Show full text]
  • Landscape Portrait
    CLSA (UK) ORDER EXECUTION POLICY 1 General Information about this Policy 1.1 Background CLSA UK (“CLSA”) provides general broker dealer and other ancillary services to its clients. It is authorised and regulated by the Financial Conduct Authority of the United Kingdom (the "FCA") and is an investment firm subject to the requirements of the rules of the FCA (the “FCA Rules”) that implement the Markets in Financial Instruments Directive 2014/65/EU ("MiFID II"). CLSA executes orders in relation to financial instruments on behalf of its clients. There are two methods that it can use to execute those orders that are distinguished for the purposes of the FCA Rules. (A) First, CLSA can execute the relevant transaction on behalf of the client directly with a counterparty or on an exchange or other trading system (e.g., by dealing directly with a market maker on a “request for quote” basis). The counterparty, exchange or trading system with which CLSA chooses to execute such a transaction is referred to in this policy as an “Execution Venue”. In accordance with the FCA Rules, an Execution Venue can include an EEA regulated market, or other exchange, a multilateral trading facility, organised trading facility, a systematic internaliser, a market maker or other liquidity provider or non-EEA entity performing similar functions to the Execution Venues listed above. (B) Secondly, CLSA can place an order as agent with a third party (e.g., another broker or investment bank) and/or any of its affiliates for that third party or affiliate to execute on behalf of the client.
    [Show full text]
  • Aftermarket Research Source Book
    Aftermarket Research Source Book November 2020 Refinitiv Aftermarket research collections provide the most comprehensive offering in the marketplace, with over 30 million research reports from over 1,900 sources. This document provides an index of the available research sources across the following collections: Subscription / Investext® Collection Pay-Per-View (PPV) / Research Select and Market Research Collections Aftermarket Research Source Book - November 2020 2 New Contributors Added Year to Date 81 contributors from 34 countries have been added to the collection since the beginning of 2020 Australia 3 Ireland 1 South Africa 1 Brazil 1 Japan 4 South Korea 1 Canada 5 Kenya 2 Spain 2 Chile 1 Lebanon 1 Switzerland 1 China 4 Liechtenstein 1 Turkey 2 Colombia 1 Nigeria 4 United Arab Emirates 6 France 2 Peru 1 United Kingdom 5 Germany 1 Philippines 1 United States 11 Ghana 1 Russia 1 Uzbekistan 2 Hong Kong 6 Saudi Arabia 1 Vietnam 1 India 3 Singapore 2 Indonesia 1 Slovenia 1 Contributor Highlights Refinitiv is pleased to announce that BofA Global Research has joined the list of exclusive BofA Global Research contributors only accessible, by qualifying users, through our Aftermarket Research collection. • A team of 285 analysts covering approximately 3,100 companies in 24 global industries – one of the largest research providers worldwide and with more sector coverage than anyone else. • More coverage (2,832) in large- and mid-caps than bulge-bracket peers. • One of the largest producers of equity research with approximately 47,000 documents published in 2019. GraniteShares is an entrepreneurial ETF provider focused on providing innovative, cutting-edge alternative investment solutions.
    [Show full text]
  • China 2025 16
    China | Equity Strategy China 14 December 2014 EQUITY RESEARCH China The Year of the Ram: Stars Aligned for a Historic Bull Run Key Takeaway The Ram, the Bull and the Heavenly Twins – the stars are now aligned for China’s historic bull-run. China's stock market offers massive untapped potential given the high savings rate and low penetration. “Keeping Growth Steady” is a top priority for 2015; we expect SHCOMP and HSCEI to test 4,050 and 15,420, up 38% and 37% from current levels. As confidence gains momentum, volatility becomes the investors’ best friend. CHINA China Gallops into a Historic Bull Run. On Nov 20, 2013, we wrote “The Year of the Horse will see China unleash its full potential, as President Xi ushers in a new era of profound change.” “We expect capital markets to gradually gain confidence in China’s ability to drive fundamental reforms and expect Chinese stocks to enter a historic multi-year bull run.” Indeed, 2014 has been a remarkable year. As of Dec.12, SHCOMP surged 39% to 2938, breaking a seven-year bearish trend to become the best performing index in the world. China Stock Market: Massive Untapped Potential. According to China Household Finance Survey, property accounted for 66.4% of total Chinese household assets in 2013. Financial assets accounted for a mere 10.1% of household wealth. While over 61% of Chinese families have bank deposits, only 6.5% of them invested in the stock market. Given China’s high savings rate and low stock market penetration, we believe the A-share market offers significant upside potential.
    [Show full text]
  • Gl B L E It M K T P F Global Equity Market Performance
    Weekly Equity Capital Markets Newsletter Piper Jaffray Asia Securities Limited October 10, 2011 Glo ba l Equit y Mark et Per formance Global Equity Market Update Piper Jaffray Asia Capital Markets Group U.S. stocks rose last week amid optimism that European leaders J. West Riggs (Head of Asia ECM), [email protected], Tel: 852 3755 - 2333 will tame the region’s debt crisis and after American economic data improved. The European Central Bank president announced a bond- Michael Cheung (Principal), [email protected], Tel: 852 3755 - 2323 purchase program to tackle the debt crisis. Stocks rose as a report Amanda Lui (Associate), [email protected], Tel: 852 3755 - 2318 showed that claims for U.S. unemployment benefits rose less than ftforecast ltlast week. USU.S. LbLabor DttDepartment dtdata shdhowed payrolls Michlhael Bassett (Associate), michlhael.w. [email protected], Tel: 852 3755 -2322 climbed by 103,000 workers in September after a revised 57,000 increase in August. Raw-material producers in the S&P 500 surged Gaby Zhang (Analyst), [email protected], Tel: 852 3755 - 2321 6.2 percent last week, the most among ten groups. Last week, the Morgan Stanley Cyclical Index advanced 4.4 percent, the Dow rose 1.7 percent to close at 11,103.1, the NASDAQ gained 2.6 percent to close at 2,479.4 and the S&P500 was up 2.1 percent— Global Market Performance breaking a two-week losing streak—to close at 1,155.5. Performance (%) European stocks advanced for a second week as the European Central Bank announced the reintroduction of year-long loans— Last price 1 day 1 week 1 month 2011YTD giving banks access to unlimited cash through January 2013—and Global Indices U.S.
    [Show full text]
  • Wanda Woo PARTNER
    Wanda Woo PARTNER Corporate Hong Kong [email protected] 852-39724963 FOCUS AREAS HIGHLIGHTS Capital Markets Experienced Hong Kong Capital Markets Practitioner Wanda advises on IPOs, share placings, rights offerings, bond offerings, and other corporate Corporate compliance work associated with the Stock Exchange of Hong Kong and the Hong Kong Greater China Securities and Futures Commission. Mergers & Acquisitions Represents Leading Investment Banks Private Equity Wanda works with top-tier investment banks such as Morgan Stanley, Bank of America Merrill Lynch, CICC, Citi, and JP Morgan. A Recognized Practitioner Wanda has been recognized as a leading capital markets attorney by The Legal 500 Asia Pacific. EXPERIENCE Wanda Woo is a partner in the Hong Kong office of Wilson Sonsini Goodrich & Rosati, where she focuses on Hong Kong capital markets transactions, including initial public offerings, share placings, rights offerings, bond offerings, and other corporate compliance work associated with the Stock Exchange of Hong Kong and the Hong Kong Securities and Futures Commission. Wanda has extensive experience advising issuers and underwriters in these transactions, counseling clients on HKSE listing rules, and working with top-tier investment banks such as Morgan Stanley, Bank of America Merrill Lynch, CICC, Citi, and JP Morgan. She began her career with a magic-circle firm and worked at two leading international law firms before joining WSGR. Wanda speaks Cantonese, English, and Mandarin. CREDENTIALS Education Postgraduate Certificate in Laws, City University of Hong Kong, 2008 LL.B., University of London, 2006 B.A., Economics and English, The University of British Columbia, 2002 Associations and Memberships Member, Hong Kong Law Society Honors Copyright © 2021 Wilson Sonsini Goodrich & Rosati.
    [Show full text]
  • Placementtracker Publishes PIPE Market League Tables
    Source: Sagient Research Systems PlacementTracker Publishes PIPE Market League Tables SAN DIEGO, July 23, 2007 (PRIME NEWSWIRE) -- Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Rodman & Renshaw, LLC ranked as the number one most active investment bank and Iroquois Capital, L.P. ranked as the number one most active institutional investor in the PIPE market during the first half of 2007. PlacementTracker also announced that Sichenzia Ross Friedman Ference, LLP ranked as the number one most active issuer counsel and Schulte Roth & Zabel, LLP ranked as the number one most active investor counsel in the PIPE market during the first two quarters of 2007. PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market. Commenting on the League Tables, Robert F. Kyle, executive vice president of Sagient Research said, "The amount raised in the first half of 2007 was the largest ever in the history of the PIPE market. During the first six months, we recorded 645 PIPE transactions totaling $22.42 billion in equity and equity-linked capital raised (excluding Structured Equity Lines and Canadian issuers). Although the number of transactions dipped slightly versus the first half of last year, the amount raised represents an astounding 38% increase over the total amount raised during the first half of 2006 and puts the market on track to smash last year's record volume of PIPE activity. As always, we congratulate all of the active agents, investors, and legal counsel in the PIPE market for a tremendous first half, especially those leaders who topped the League Tables.
    [Show full text]
  • 3Q 2019 Contents Credits & Contact
    Global League Tables 3Q 2019 Contents Credits & contact PitchBook Data, Inc. Introduction 2 John Gabbert Founder, CEO Adley Bowden Vice President, PE firms 3-11 Market Development & Analysis Content VC firms 12-19 Garrett James Black Senior Advisors/accountants & investment banks 20-25 Manager, Custom Research & Publishing Law firms: VC & PE 26-35 Van Le Senior Data Analyst Acquirers 36-38 Contact PitchBook Research [email protected] Cover design by Kelilah King Click here for PitchBook’s report methodologies. Introduction Thank you to all who participated in the surveys that firm for each given section), however, spacing and enable these rankings to be possible. Once again, near- aggregate tallies prevented us from adopting that cutoff record submissions led to this edition of the Global consistently on every page. All in all, we are confident League Tables being released somewhat later in the that the current tables will provide a useful, accurate quarter. As always at PitchBook, we prioritize accuracy snapshot of activity throughout 3Q 2019 by our array of above all else. We will continue to elect to provide the typical criteria, from venture transactions by stage to US most precise information over speed until we are sure we region. can accomplish both. Stay tuned for potential changes to these rankings as In this edition, we carried over our style of rankings, we continue to look for the most efficient and accurate which should prove helpful for quick consultation. We way to showcase the most active firms across private endeavored to keep the number of rankings equivalent markets. per page (e.g.
    [Show full text]