reports
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 13 January 2025
The major equity indexes on Bulgarian market registered tiny advances in range between 0.03% and 0.11%, driven by light-volume narrowly ranged trades on Friday. Positive price actions in Wiser Technology (WISR, BGN 5.15, +3.00%), Chimimport (CHIM, BGN 0.72, +2.86%) and Shelly Group (SLYG, EUR 35.20, +0.57%) led the directions despite the weight of First Investment Bank (FIB, BGN 4.12, -2.83%) and Elana Agrocredit (EAC, BGN 1.08, -1.82%). SOFIX (893.13, +0.03%) settled on a tick below the 16-year...
- Anas Fitri Bin Ahmad
- Greater China Research Team
- Johnny Yum
- Jonathan Koh
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kate Luang
- Thanawat Thangchadakorn
Regional Morning Meeting Notes: Wednesday, July 03, 2024
GREATER CHINA Strategy Alpha Picks: July Conviction Call Adding ASMPT, Innovent, Poly Property Services, TAL Education and Trip.com to our BUY list; hedging with SELL call on BYD. Small/Mid Cap Highlights Crystal International (2232 HK/BUY/HK$3.95/Target: HK$4.76) 1Q24 preview: Expecting interim DPS to more than double. INDONESIA Strategy Alpha Picks: Outperformance In Jun 24 And 2Q24 Our picks are BMRI, BBRI, EXCL, BSDE, TLKM, ACES, BBTN, CMRY, SIDO and JSM...
AEONTS AEON THANA SINSAP (THAILAND) PCL
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
IZZ TAL EDUCATION GROUP SPONSORED ADR CLASS A
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
FCT FRASERS CENTREPOINT TRUST
ASM PACIFIC TECHNOLOGY LIMITED
BBL BANGKOK BANK PUBLIC COMPANY LIMITED
CTRA CIPUTRA DEVELOPMENT
KTB KRUNG THAI BANK PUBLIC CO. LTD.
BBRI PT BANK RAKYAT INDONESIA (PERSERO) TBK CLASS B
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
AJBU KEPPEL DC REIT
BMRI PT BANK MANDIRI (PERSERO) TBK
KBANK KASIKORNBANK PUBLIC CO. LTD.
SCB SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
00700 TENCENT HOLDINGS LTD.
1211 BYD COMPANY LIMITED CLASS H
CDREIT CDL HOSPITALITY TRUSTS
SUN SUNTECH SA
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
SOP SARAWAK OIL PALMS BERHAD
FEHT FAR EAST HOSPITALITY TRUST
SIDO INDUSTRI JAMU DAN FARMASI SI
MTC MUANGTHAI CAPITAL PCL
PREIT PARKWAYLIFE REAL ESTATE
KIML KIM LOONG RESOURCES BHD
MINT MAPLETREE INDUSTRIAL TRUST
IOI IOI CORP BHD
KLK KUALA LUMPUR KEPONG BHD
CPALL TB CP ALL
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
MUST MANULIFE US REAL ESTATE INV
GENP GENTING PLANTATIONS BHD
01801 INNOVENT BIOLOGICS INC.
HAPL HAP SENG PLANTATIONS HOLDINGS BHD
UHU UNITED HAMPSHIRE US REIT
6049 POLY PROPERTY SERVICES CO LTD
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
TIDLOR NGERN TID LOR PCL
FLT FRASERS LOGISTICS & COMMERCIAL TRUST
6AM ALCOMET
KORE KEPPEL PACIFIC OAK US REIT
CK CH. KARNCHANG PUBLIC CO LTD
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
DCREIT DIGITAL CORE REIT
EXCL XL AXIATA TBK PT
MPACT MAPLETREE PAN ASIA COMMERCIAL TRUST
CMRY PT CISARUA MOUNTAIN DAIRY TBK
123F 123FAHRSCHULE SE
CLAS CAPITALAND ASCOTT TRUST
CLAR CAPITALAND ASCENDAS REIT
PRIME PRIME ROAD POWER PUBLIC CO LTD
2232 CRYSTAL INTERNATIONAL GROUP LTD
Z29 029 GROUP SE
09961 CTRIP.COM INTERNATIONAL
SDG SD GUTHRIE BHD
ASPL ASPIRATIONAL CONSUMER LIFESTYLE CORPORATION
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 15 May 2024
The Bulgarian equity market ended the session on an upbeat note for seventh day in a row and the main indexes all settled near session highs. SOFIX (849.12) continued its recent outperformance, gaining 1.23% on Tuesday. The positive mood within the market resized new names apart from First Investment Bank (FIB, BGN 4.66), which added 18.88% to its market cap still without fresh news around the name, Agria Group (AGH, BGN 23.70) and Central Cooperative Bank (CCB, BGN 1.73) registered 7.73% and 4....
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 29 January - 02 February 2024
Few companies from the industrial sector registered significant increase last week and led weekly gainers. Industrial Holding (IHB, BGN 1.90, +12.4%), Industrial Capital Holding (HIKA, BGN 3.06, +4.8%) and M+S Hydraulic (MSH, BGN 11.20, +2.8%). The Banking sector weighted on the market and all local indexes closed on the negative territory. Rumors about First Investment Bank (FIB, BGN 2.40, -26.4%) pushed the bank’s shares down followed by Central Cooperative Bank (CCB, BGN 1.53, -5.0%). SOFIX...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 February 2024
Opposite moves of index members fixed SOFIX at 786.68 (-0.13%). The jumps of Neochim (NEOH, BGN 23.60, +6.79%), Doverie (DUH, BGN 8.94, +2.05%) and BSE (BSE, BGN 14.15, +1.07%) partly offset the drops of First Investment Bank (FIB, BGN 3.12, -5.45%), Chimimport (CHIM, BGN 0.734, -3.42%) and M+S Hydraulic (MSH, BGN 10.80, -0.92%). Consolidation around current market levels continued and all other local indexes finished the day almost unchanged.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 04 September - 08 September 2023
The Bulgarian stock market finished the last trading week on a negative note, balancing after the strong performance during the peak summer season. The local leading index SOFIX retreated modestly -0.2% to settle at 756.68 in another shortened trading week, while the broad ones BGBX40 (157.98) and BGTR30 (785.01) underperformed the benchmark, losing 0.5% and 0.8% on a weekly basis. Both the volume and the turnover showed noticeable performance, exceeding the YTD average by 36.3% and 258.3%, m...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 12 June - 16 June 2023
The Bulgarian stock market had shifted into another gear last week and finished mixed on Friday, balancing after the strong performance from the previous ones. The local benchmark SOFIX increased modestly by 0.2% to settle at 684.87, while the broad ones BGBX40 (149.35, -0.6%) and BGTR30 (757.51, +0.3%) finished on opposite directions. Rising stocks outnumbered the declining ones in our list of selected companies by 14 to 10, 5 ended unchanged. The weekly top performer was Industrial Holding Bul...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 16 June 2023
The Bulgarian equity market saw some up and down action on Thursday, which caused moderate volatility and coloured the main indexes mixed. The increased Bid/Ask spreads of some names lately, like First Investment Bank (FIB, BGN 2.18, +2.83%) and Sopharma (SFA, BGN 5.56, +1.09%), pushed SOFIX (686.69, +0.23%) up with moderate turnover. The volumes reached 15-day average and slightly improved compared to the previous day.
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 09 May - 12 May 2023
The Bulgarian stock market gained some steam last week as stabilized investor’s confidence pushed the main indexes higher. The benchmark SOFIX ( 629.36) was the top gainer with solid 2.5% rise, while the broad ones – BGBX40 (142.88) and BGTR30 (731.11) underperformed the main index, increasing more modestly by 1.7% and 1.2%, respectively. Gainers outnumbered losers in our list of selected companies by 12 to 6, as the lack of selling pressure put Eurohold (EUBG, BGN 1.55, +12.3%) at the top. Th...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 10 May 2023
The Bulgarian indices closed near session highs on Tuesday, confirming the uptrend from the previous short weak. SOFIX (617.95) increased 0.66%, led by First Investment Bank (FIB, BGN 2.16, +4.85%) and Monbat (MONB, BGN 4.38, +2.34%), which surged on the ground of small trades in widen Bid/Ask spreads. The proposed higher than expected dividends from Alcomet (ALCM, BGN 8.60) and Fazerles (FZLS, BGN 19.00), activated the buyers and the names finished with respectively 4.24% and 4.97% gains. The l...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
OUTLOOK 2023 - 9 SHARES WORTH HOLDING
INTEREST RATE HIKES COULD AFFECT VALUATIONS BUT CERTAIN NAMES STAY STRONGER THAN EVER FEELING CONFORTABLY IN THE CRISIS In 2022 we witnessed a chain of global events that played a significant role into cooling down the equity markets. The most important ones - the ongoing global supply chain problems, started in 2020, caused by COVID-19; the Russian invasion into Ukraine, triggering the energy shock; the concerns about an upcoming food shortage; the surge of CPI; the interest rates hikes. As ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 7 November - 11 November 2022
Moderate increase of local indexes reflected positive sentiment on the BSE-Sofia last week. SOFIX (596.43) added 0.4% while the broad BGBX40 (137.35) and BGTR30 (719.50) advanced by 0.3% and 0.9% respectively. Weekly turnover jumped 3 times to BGN 54.0m. compared to the average one YTD of BGN 15.9m. Daily volatility increased with widened bid/ask spreads but the main volume was registered with companies outside the main market segments. Positive corporate news dominated over negative one but pol...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 14 November 2022
The Bulgarian stock market was choppy on Friday and SOFIX (596.43) ended at the lowest level for the day by losing 0.97%. Eurohold (EUBG, BGN 1.83) dropped 7.58% and led the losers in this trading session as sellers offered significant size at BGN 1.83. The machine-building factory Hydraulic Elements and Systems (HES, BGN 6.25) and the IT company - Telelink (TBS, BGN 11.75) followed on the losers list by slipping 6.72% and 2.08%, respectively with increased volume, while the daily gainers, repre...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 November 2022
The start of the week for the Bulgarian stock market was mixed with SOFIX (589.52) adding 0.29%, mainly pushed by Allterco (A4L, BGN 18.65, +5.37%), Advance Terrafund (ATER, BGN 2.93, +0.69%) and Doverie United Holding (DUH, BGN 6.84, +0.59%). The broader index BGBX40 (136.68) followed the main one and gained 0.24%, benefiting from the impressive performance of Alcomet (ALCM, BGN 8.10, +15.71%) and Allterco. The list of losers was led by Sirma Group (SGH, BGN 0.71, -4.05%), Gradus (GR6, BGN 1.29...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 August 2022
All major indexes moved lower throughout the session on Friday, pressed down by poor liquidity and negative sentiment. The leading local index SOFIX (599.72) decreased by 0.46%, followed by the broad BGBX40 (140.18) and BGTR30 (730.04) with 0.30% and 0.41% declines, respectively. The worst performer of all indexes was BGREIT(184.01) with a solid drop of 1.30%. 8 out of 15 members of the benchmark index registered declines in this trading session as the list of laggards was led by Bulgarian Real ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 16 June 2022
SOFIX (611.68, 0.05%) moved significantly up and down in range between its 50 and 200-days MA and finally ended on a note higher 0.05% on Wednesday. First Investment Bank (FIB, BGN 2.00, -4.76%) and Bulgarian real estate fund (BREF, BGN 2.32, -2.52%) led the laggards as the buying power weakened and sellers easily pushed the price down on both names, while Advance Terrafund (ATER, BGN 2.93, +2.81%) and Alterco (A4L, BGN 18.60, +3.05%) closed on the positive side as the both names recovered from ...
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 19 May 2022
The SOFIX (616.05) continued its uptrend by adding 1.09% on Wednesday in session with increased corporate news. Bulgarian stock exchange (BSE, BGN 10.70) surged by 8.08% after the news of DPS of BGN 0.42 and stock dividend, followed by Eurohold (EUBG, BGN 2.28), which raised 5.56% after the announcement of voluntary tender offer of the energy companies, owned by the holding. The courier company Speedy (SPDY, BGN 112.00) recovered by 10.89% in widen bid/ask spread and took its leading place among...
- Martin Dimitrov
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 1 February 2022
The local indexes advanced on the last day of January, where SOFIX added 0.67% to 618.53. Approximately 3/5 of the constituents of the main index appreciated on a daily basis, with top gainers being First Investment Bank (FIB, BGN 1.78, +7.88%) and the technology companies Allterco (A4L, BGN 19.80, +4.21%) and Telelink Business Services Group (TBS, BGN 15.70, +4.67%). Chimimport (CHIM, BGN 0.914, +3.39%) and Industrial Holding Bulgaria (IHB, BGN 2.06, +3.00%) advanced notably as well, while ther...
- Martin Dimitrov
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 2 November 2021
The local indexes slipped with insignificant volume, where SOFIX erased 0.11% to 583.28. The top gainer, which was also the most traded constituent over the session, was Allterco (A4L, BGN 20.40, +3.55%), while there were no other notable price changes on the positive side. The top declines were by Eurohold Bulgaria (EUBG, BGN 2.16, -2.70%) and Chimimport (CHIM, BGN 0.85, -2.30%), both of which booked insignificant volume. BGREIT added 0.07%, with its increase being entirely on the back of Advan...
- Martin Dimitrov
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Weekly bulletin - 18 October - 22 October 2021
SOFIX (574.78) finished unchanged last week despite the higher than usual weekly volatility. Sopharma (SFA, BGN 3.94) and First Investment Bank (FIB, BGN 1.65) ended with 3.7% and 3.1% gains respectively, but the volumes of both names remained far below the 15-days average. Eurohold Bulgaria (EUBG, BGN 2.06, -3.7%) and Industrial Holding Bulgaria (IHB, BGN 2.00, -2.0%), on the other hand, lost ground as the increased fluctuations came from the widened bid/ask spreads. The registered block trades...
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