Year-on-year export growth in most Asian economies surprised on the upside in December, which is why we expected Thailand’s exports to join the crew too. The December data ends the negative export growth streak that was in place since May 2020. The t...

The pandemic winners among developed market stocks, almost all tech firms, are now household names, with the likes of Zoom helping to transform our working and personal lives and Tesla becoming a retail-investor favourite, recording staggering share...

Jumia is known as the Amazon of Africa. Sea’s exponential rise has made it the largest company in ASEAN, a region of 600mn people. We identified Fawry as an EM tech stock to watch in July 2020, when the pre-unicorn company had a market cap of US$735m...

Already in 2020, we have seen a large number of sovereign defaults, notably in Argentina, Belize, Ecuador, Lebanon, Suriname and Zambia. Meanwhile, Bahrain (+9ppt to 137%), Brazil (+2ppt to 104%) and South Africa (+6ppt to 85%) see more modest increa...

Share price will gain a positive catalyst from impressive growth in 3Q20 result forecast (to be posted on Nov 13). With scope for earnings upside, valuation will look much cheaper with a 2021 PER of 43.6x to 34.9x. Our BUY rating stands at a YE21-der...

The prospect of a Covid-19 vaccine is a joyous occasion for the market. This temperature is far far lower than a normal domestic freezer which operates at -10c at best. Many logistics companies such as Fedex operate cold chains. In Asia, there are a...