Halister News

(Bloomberg) -- BlackRock likes high quality govt. bonds in China onshore bond market, asset manager’s Head of Asian Credit Neeraj Seth says in briefing Wednesday.

• BlackRock neutral on emerging market debt as high valuations make further capital gains less likely
• Within Asia fixed income, BlackRock likes India 
• Seth says long on Indian rupee, Indonesia rupiah and Chinese yuan because of carry currencies provide
• Seth says neutral on Asian high-yield market on tight valuations
• BlackRock sees U.S. dollar strengthening moderately in medium term
• Korean stocks remain attractive on cheap valuations, Belinda Boa, head of active investments for Asia Pacific and CIO of emerging markets says
• Boa says asset manager also likes Brazilian stocks due to valuations
• Blackrock likes beaten-down financial and industrial stocks in China, China investment strategist Wenjie Lu says
• China equities have upside potential; Chinese capital flows remain in favor of large caps over midcaps, Lu says
• BlackRock likes emerging markets, Japanese and European stocks
• NOTE: As at March 31, BlackRock’s assets under management was $5.4t

--With assistance from Lianting Tu. To contact the reporters on this story: Abhishek Vishnoi in Singapore at avishnoi4@bloomberg.net; Lilian Karunungan in Singapore at lkarunungan@bloomberg.net; Denise Wee in Hong Kong at dwee10@bloomberg.net To contact the editors responsible for this story: Sebastian Tong at stong41@bloomberg.net Dominic Lau

(Bloomberg) -- BlackRock is underweight govt. bonds in developed markets and prefers credit bonds , Neeraj Seth, head of Asian credit for the asset manager, says in media briefing Wednesday.

• Likes Asia investment grade bonds due to improving fundamentals in corporates
• On technical front, now close to 80% of Asian bonds are owned by Asian investors, which reduces volatility 
• On valuation front, Asian investment grade bonds provide attractive spread 
• BlackRock also sees opportunities in Asian local bonds

To contact the reporter on this story: Lianting Tu in Hong Kong at ltu4@bloomberg.net

(Bloomberg) -- The following are among the most noteworthy analyst research notes for Australia and New Zealand investors:

• Market ‘Too Bullish’ on Lifetime Annuities at Challenger: Morgan Stanley
  • Portfolio heavy in short-term annuities leaves co. vulnerable on margins and growth, analysts led by Daniel Toohey write in July 25 note
  • Cuts to underweight; PT lowered to A$11.50 from A$12

UPGRADES:

• Bendigo and Adelaide raised to neutral at Citi
• Sky TV Network raised to buy at Morningstar

DOWNGRADES:

• WiseTech cut to neutral at Citi
• Carsales.com cut to neutral at Credit Suisse, PT raised to A$12.60 from A$12
• Super Retail cut to underperform at Credit Suisse, PT cut to A$7.50 from A$7.56

INITIATION:

• Ellex Medical Lasers new buy at Bell Potter, PT at A$1.92

To contact the reporter on this story: Matthew Burgess in Sydney at mburgess46@bloomberg.net To contact the editors responsible for this story: Edward Johnson at ejohnson28@bloomberg.net Jonathan Annells

Economic Release Details: {AUCPICHG Index ECOD} --CHRIS BOURKE

Economic Release Details: {RBCPTRIQ Index ECOD} --CHRIS BOURKE

(Bloomberg) -- Australia is scheduled to release 2Q inflation data at 11:30am local time.

• 2Q CPI q/q est. 0.4% vs prev. 0.5%
• 2Q CPI y/y est. 2.2% vs prev. 2.1%
• 2Q CPI trimmed mean q/q est. 0.5% vs prev. 0.5%
• 2Q CPI trimmed mean y/y est. 1.8% vs prev. 1.9%

To contact the reporter on this story: Patricia Lui in Singapore at plui4@bloomberg.net