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Director’s Cut
Connect: China housing and iron ore
Given the importance of China to the global economy, the impact of their social
housing project has major implications for global investors.
Yesterday we highlighted Paul Cavey’s latest report on social housing where he
argued the program won’t prevent the policy driven economic slowdown he
expects to become more visible during the summer months. That said, with the
government recognising that completion rates are behind due to funding issues,
more money should become available and he believes this will allow more
meaningful social housing construction in the fourth quarter. >> Read Report
Graeme Train took one look at Paul’s report and concluded the program is yet
another reason to buy copper and iron ore. By the way, Graeme also notes that
construction activity going into public and low rent housing is not recorded in the
commodity building floor space numbers closely followed by the market. As a
result, demand for commodities from construction could start to outperform these
indicators over the second half. >> Read Report.
For large cap exposure to rising second half demand for iron ore and copper, our
top picks are Rio Tinto (RIO AU) and Freeport McMoran Copper (FCX US),
which both offer forecast 12-month TSRs in the order of 40-50%.
Highlights
David Rickards expects improved growth and sentiment to drive a 2H
rebound in equities, with China Minsheng (1988 HK) and Hyundai Motor
(005380 KO) two of the stocks likely to benefit.
Gary Pinge has initiated coverage on Melco Crown (MPEL US) with an
Outperform – his top pick in the Macau gaming universe.
Best Waiyanont remains bullish on BigC Supercenter (BIGC TB) after
spending a half-day at Carrefour’s former flagship store.
Nicolas Patrick Von Stackelberg says the smartphone stampede will
continue to hurt earnings at TomTom (TOM2 NA).
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Director’s Cut
Connect: China housing and iron ore
Given the importance of China to the global economy, the impact of their social
housing project has major implications for global investors.
Yesterday we highlighted Paul Cavey’s latest report on social housing where he
argued the program won’t prevent the policy driven economic slowdown he
expects to become more visible during the summer months. That said, with the
government recognising that completion rates are behind due to funding issues,
more money should become available and he believes this will allow more
meaningful social housing construction in the fourth quarter. >> Read Report
Graeme Train took one look at Paul’s report and concluded the program is yet
another reason to buy copper and iron ore. By the way, Graeme also notes that
construction activity going into public and low rent housing is not recorded in the
commodity building floor space numbers closely followed by the market. As a
result, demand for commodities from construction could start to outperform these
indicators over the second half. >> Read Report.
For large cap exposure to rising second half demand for iron ore and copper, our
top picks are Rio Tinto (RIO AU) and Freeport McMoran Copper (FCX US),
which both offer forecast 12-month TSRs in the order of 40-50%.
Highlights
David Rickards expects improved growth and sentiment to drive a 2H
rebound in equities, with China Minsheng (1988 HK) and Hyundai Motor
(005380 KO) two of the stocks likely to benefit.
Gary Pinge has initiated coverage on Melco Crown (MPEL US) with an
Outperform – his top pick in the Macau gaming universe.
Best Waiyanont remains bullish on BigC Supercenter (BIGC TB) after
spending a half-day at Carrefour’s former flagship store.
Nicolas Patrick Von Stackelberg says the smartphone stampede will
continue to hurt earnings at TomTom (TOM2 NA).
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