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US admits its semiconductor problem: Implications for TSMC and EM equities

Tellimer Research Hasnain Malik @ Tellimer Research
Hasnain Malik @
Tellimer Research
12 February 2021

Covid vaccine means that Freezer Producers are now red hot

Nirgunan Tiruchelvam 17 November 2020

Emerging-Frontier Equity Monthly, September: EM Tech and FM outperform

Hasnain Malik 27 September 2020

Technology stocks cheaper in Taiwan-Korea vs US or China, let alone small EM-FM

Hasnain Malik 25 September 2020

Delivery Hero's South Korean deal raises prospect of further EM forays

Nirgunan Tiruchelvam 24 August 2020
Latest articles in South Korea

Asia-Pacific not immune to Treasury rout

Years ago, and I am literally talking decades here, a colleague recommended an article called something like, "Everything you need to know about markets". The key message I took from it was this, the US treasury market accounts for about 80% of the v...
ING Think
ING Think 25 February 2021
Asia-Pacific not immune to Treasury rout
Asia-Pacific not immune to Treasury rout

Bank of Korea raises inflation forecast

Leaving the policy 7-day repo rate unchanged, the BoK did revise higher their inflation forecast for 2021, taking it from 1.0% to 1.3%. So some further upward revision to our own forecasts seems like it may be worth a look. The 3% BoK forecast for GD...
ING Think
ING Think 25 February 2021
Bank of Korea raises inflation forecast
Bank of Korea raises inflation forecast

Coupang IPO brings South Korea's Amazon slayer to the NYSE

South Korea’s e-commerce giant, Coupang, has filled for a US$1 billion IPO on the NYSE. The valuation could be US$50 billion. Coupang may emerge as the fastest growing of the Baby Amazons, also know as EM Tech challengers. Coupang's e-commerce busine...
Tellimer Research Nirgunan Tiruchelvam
Nirgunan Tiruchelvam @ Tellimer Research 18 February 2021
Coupang IPO brings South Korea's Amazon slayer to the NYSE
Coupang IPO brings South Korea's Amazon slayer to the NYSE

US admits its semiconductor problem

This issue is relevant for EM equity investors who grapple with whether to shift from the Technology sector, which has led the asset class in recent years, to Commodity exporters, which have lagged. TMSC (and Samsung) may face an even higher capex bu...
Tellimer Research Hasnain Malik
Hasnain Malik @ Tellimer Research 12 February 2021
US admits its semiconductor problem: Implications for TSMC and EM equities
US admits its semiconductor problem: Implications for TSMC and EM equities

Korea’s Jan unemployment rate highest since 1999

Last month, we tried and failed to come up with any silver linings to the rise in the December Korean unemployment rate to 4.5% from 4.1% (now revised to 4.2%). There were none that we could find. Once again, the breakdown of the news is not encourag...
ING Think
ING Think 9 February 2021
Korea’s Jan unemployment rate highest since 1999
Korea’s Jan unemployment rate highest since 1999

Long-dormant prices stirring

Let's start with inflation: and the growing notion that inflation in the US is looming and could push bond yields higher gained further support from yesterday's prices-paid index within the manufacturing ISM survey. The last time it was higher than t...
ING Think
ING Think 1 February 2021
Long-dormant prices stirring
Long-dormant prices stirring