Technical analyst sees equity market warning signs

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Technical analyst sees equity market warning signs

November 13, 2009

From Richard Morrow

CLSA’s Laurence Balanco, voted best quantitative/ technical analyst in Asiamoney’s Brokers Poll 2009, urges investors to reduce equity exposure, saying the roadmap is for a 15% to 20% sell-off in the first quarter of 2010.

Laurence Balanco has bad news for anybody feeling more confident about equity market performance in recent weeks: warning signs abound.

“Since August we’ve seen a number of divergences with market momentum on several small-cap indices and we are pretty cautious...

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SOUTHEAST ASIA DCM

Rank

Bookrunner Parents

Deal Value $ (Proceeds) (m)

No.

%share

2012 YTD Rank

Standard Chartered Bank

3,991

8.9

HSBC

3,710

8.3

Goldman Sachs

3,333

7.4

Deutsche Bank

2,895

6.4

Citi

2,774

6.2

JPMorgan

2,288

5.1

DBS

2,106

4.7

Siam Commercial Bank

1,835

4.1

Barclays

1,586

3.5

CIMB Group

1,523

3.4

Subtotal

26,040

123

57.9

Total

44,958

212

100.0

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