On-the-ground insights on strong thematic verticals
Differentiated coverage on 800-plus stocks across Asia
Providing specialist coverage of 11 key sectors
China’s macro backdrop supports an economic acceleration into 2H23. Our on-the-ground view from China suggests optimism. We expect high-single-digit increases in both consumption and GDP in 3Q23-1Q24, supported by a combination of excess household savings, targeted stimuli, and liquidity.
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We look at the crucial role of EV charging infrastructure in energy transition. Macquarie expects cumulative global infrastructure spend to top US$97b this year and reach US$349b in 2030. For charge point operators, we estimate an annual opportunity of US$6b globally in 2022 to US$166b in 2030. Aggregate sales from equipment and operations for 2023-30E exceed US$800b.
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ASEAN has a lot of appeal for new digital financial services. With more than 70% of ASEAN’s population now online, the movement of wallet providers into banks to expand services beyond payments is a natural progression in their path to set up viable and saleable businesses in the region.
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"The next 5-10 years will see large sustained investments in technology and chipmaking capacity, aimed at enabling broad-based diffusion of advanced data processing from the network edge, to the cloud. We expect significant innovation activity to be directed at discovering, and exploiting at scale, the business opportunities enabled by the flood of data from sensors and online activity.”
Damian Thong, Division Director
Senior Research Analyst
"As sustainable finance continues to mature into a core element of the financial services industry in Asia, investors need to be ahead of the curve when using ESG data to properly assess earnings risks and opportunities."
Charles Yonts
Sector Lead for Asia ESG
"China consumption is showing divergent trend with ultra-luxury gaining momentum post relaxation of city lockdowns, while mass market is seeing consumption trade down. We remain cautious on the consumer sector but look for a buying opportunity to emerge after cost pressures ease and investors recalibrate their expectations."
Linda Huang
Sector Lead for Consumer & Education
"Macquarie Asia Equity Research aims to be a trusted partner to our clients, sifting through the noise to identify the cutting-edge thematics that are constantly redefining the markets, industries and economies of the incredibly dynamic Asia region.
Our approach is relentlessly bottom up, with a team of more than 80 analysts on the ground, stretching from Japan to India across 11 offices and covering over 800 stocks. Our strategy is to uncover disruptive innovation and the consequent potential to capture alpha.
From the re-invention of mobility, finance and retail, to the rapid impact of ESG on markets, to geo-political evolution, our analysts are thought leaders for the market."
Technology
Damian Thong, Nicolas Baratte, Esme Pau, Aditya Suresh, Daniel Kim, Jeffrey Ohleweiller
Consumer
Linda Huang, Eugene Hsiao
Critical Minerals & Energy Transition
Albert Miao, James Hong, Charles Yonts
Healthcare
Tony Ren
ASEAN
Jayden Vantarakis
Global Strategy
Viktor Shvets
