ASEAN Dynamics

研报英文原文证据摘录

ASEAN Dynamics

Macquarie Equity Research ASEAN Dynamics

The Macquarie Alpha Model is a systematic, dynamic model comprising five fundamental and five behavioural styles, with

an overall alpha score for each stock, optimised for one-month investment horizon, across different markets/investment

universes (see Figure 23 for further explanations). Because scores are universe-specific, the same stock can rank differently in

different markets.

Stock lists below are filtered by:

• Market Cap > US$3bn and 20-day ADTV > US$3mn

Þ Except the Philippines: Market Cap > US$1bn and 20-day ADTV > US$1mn

Figure 9 - MSCI ASEAN Alpha Model - Top 10 and Bottom 10

Top 10 Price MarketCap RecommendationsMacquarie Fundamental Quant Singal Scores Behavioral

Code Name Industry Grp (local) (US$bn) Analyst Recom TP (local) Growth Value Profit Quality Capital Momentum Analyst Liquidity Risk (low) Technical

DBS SP DBS Group Holdings Ltd Banks 66.43 143.80 Jayden Vantarakis Neutral 52.38 -0.08 0.13 0.68 NULL 0.11 0.17 -0.23 1.29 0.84 0.11

OCBC SP Oversea-Chinese Banking Corporation LimitBanks 25.08 86.54 Jayden Vantarakis Outperform 24.25 -0.07 0.01 0.72 NULL 0.05 0.08 -0.12 1.14 0.83 0.04

KTB TB Krung Thai Bank Public Co., Ltd. Banks 39.75 15.92 Chattra Chaipunviriyaporn Outperform 40.00 0.57 0.81 0.33 NULL 0.24 0.09 0.40 0.23 0.21 -0.75

PTTEP TB PTT Exploration & Production Plc Energy 130.50 15.95 Kaushal Ladha Outperform 163.00 -0.51 1.13 0.12 0.39 0.76 -0.04 0.65 -0.19 -0.06 -1.04

BMRI IJ PT Bank Mandiri (Persero) Tbk Banks 3900.00 20.06 Jayden Vantarakis Outperform 5,765.00 0.35 1.98 0.47 NULL 1.32 -0.03 0.09 -0.09 -0.29 1.14

KBANK TB Kasikornbank Public Co. Ltd. Banks 233.00 15.48 Chattra Chaipunviriyaporn Outperform 240.00 -0.40 0.90 0.21 NULL 0.40 0.03 0.04 0.16 0.60 -1.16